Stock-Based Compensation Plans (Tables)

3 Months Ended

Jul. 03, 2021

Share-based Payment Arrangement [Abstract]

Stock-based compensation expense

The following table summarizes stock-based compensation expense related to stock awards granted under the Company’s equity incentive plans and rights to acquire stock granted under the Company’s Employee Stock Purchase Plan (ESPP):

	Three Months Ended
(In thousands)	July 3, 2021		June 27, 2020
Stock-based compensation included in:
Cost of revenues	$	3,610	$	2,721
Research and development	41,462		30,369
Selling, general and administrative	22,537		17,293
	$	67,609	$	50,383

Summary of restricted stock unit activity and related information

A summary of the Company’s RSU activity and related information is as follows:

	RSUs Outstanding
(Shares in thousands)	Number of Shares	Weighted-Average Grant-Date Fair Value Per Share
March 28, 2020	6,780	$	80.53
Granted	3,885	$	106.36
Vested	(2,558)	$	71.07
Cancelled	(680)	$	85.26
April 3, 2021	7,427	$	80.53
Granted	143	$	124.14
Vested	(1,111)	$	64.12
Cancelled	(84)	$	100.50
July 3, 2021	6,375	$	102.53

Schedule of share-based compensation, restricted stock units, valuation assumption

The per share weighted-average fair value of RSUs granted during the first quarter of fiscal 2022 was $124.14 ($84.34 for the first quarter of fiscal 2021), which were calculated based on estimates at the date of grant using the following weighted-average assumptions: 

	Three Months Ended
	July 3, 2021		June 27, 2020
Risk-free interest rate	0.6	%	0.3	%
Dividend yield	—	%	1.7	%