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Segment Information
 12 Months Ended
Jan. 30, 2022
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company's CEO functions as the chief operating decision maker ("CODM"). The CODM makes operating decisions and assesses performance based on the Company's major product lines, which represent its operating segments. The Company has three operating segments—Signal Integrity, Wireless and Sensing and Protection—that historically have been aggregated into one reportable segment identified as the "Semiconductor Products Group." In the fourth quarter of fiscal year 2022, the Company updated its forecasts and assessed the economic performance of the three operating segments and concluded that Protection is no longer expected to be economically similar to the other operating segments. This is primarily because our projections indicate that the gross margin of products within Protection will not be economically similar to products within the other operating segments. Accordingly, the Company has concluded that Protection should be separately reported as its own reportable segment. This decision resulted in the formation of two reportable segments, including the High-Performance Analog Group, which is comprised of the Signal Integrity and Wireless and Sensing operating segments, and the System Protection Group, which is comprised of the Protection operating segment. All prior year information in the tables below has been revised retrospectively to reflect the change to the Company's reportable segments.
The Company’s assets are commingled among the various operating segments and the CODM does not use asset information in making operating decisions or assessing performance. Therefore, the Company has not included asset information by reportable segment in the segment disclosures below.
Net sales and gross profit by reportable segment were as follows:
Fiscal Year Ended
(in thousands)January 30, 2022January 31, 2021January 26, 2020
Net sales:
High-Performance Analog Group$537,288 $433,174 $390,300 
System Protection Group203,570 161,943 157,212 
Total net sales$740,858 $595,117 $547,512 
Gross profit:
High-Performance Analog Group$364,594 $283,668 $259,172 
System Protection Group105,605 81,631 78,809 
Unallocated costs, including share-based compensation(4,118)(1,750)(1,297)
Total gross profit$466,081 $363,549 $336,684 
Information by Product Line
The Company operates exclusively in the semiconductor industry and primarily within the analog and mixed-signal sector.
The table below provides net sales activity by product line on a comparative basis:
Fiscal Year Ended
(in thousands, except percentages)January 30, 2022January 31, 2021January 26, 2020
Signal Integrity$291,114 40 %$255,640 43 %$222,846 40 %
Wireless and Sensing 246,174 33 %177,534 30 %167,454 31 %
Protection203,570 27 %161,943 27 %157,212 29 %
Total net sales$740,858 100 %$595,117 100 %$547,512 100 %
Information by Sales Channel
Fiscal Year Ended
(in thousands)January 30, 2022January 31, 2021January 26, 2020
Distributor$647,012 $490,009 $392,582 
Direct93,846 105,108 154,930 
Total net sales$740,858 $595,117 $547,512 
Generally, the Company does not have long-term contracts with its distributors and most distributor agreements can be terminated by either party with short notice. For fiscal year 2022, the Company's largest distributors were based in Asia.
Geographic Information
Net sales activity by geographic region was as follows:
 Fiscal Year Ended
(in thousands, except percentages)January 30, 2022January 31, 2021January 26, 2020
Asia-Pacific$583,852 79 %$474,040 80 %$421,584 77 %
North America90,796 12 %71,866 12 %76,652 14 %
Europe66,210 9 %49,211 8 %49,276 9 %
Total net sales$740,858 100 %$595,117 100 %$547,512 100 %
The Company attributes sales to a country based on the ship-to address. The table below summarizes sales activity to countries that represented greater than 10% of total sales for at least one of the periods presented:
 Fiscal Year Ended
(percentage of total net sales)January 30, 2022January 31, 2021January 26, 2020
China (including Hong Kong)60 %60 %53 %
United States10 %10 %9 %
Total net sales70 %70 %62 %
Although a large percentage of the Company's products is shipped into the Asia-Pacific region, a significant number of the products produced by these customers and incorporating the Company's semiconductor products are then sold outside this region.
Long-lived Assets
The following table summarizes the Company's long-lived assets, which consist of property, plant and equipment, net of accumulated depreciation, classified by location:
Balance as of
(in thousands)January 30, 2022January 31, 2021
United States$64,927 $61,502 
Rest of North America37,155 35,216 
Asia and all others18,216 22,877 
Europe14,642 11,339 
Total$134,940 $130,934 
Some of these assets are at locations owned or operated by the Company’s suppliers. The Company has consigned certain equipment to a foundry based in China to support its specialized processes run at the foundry. The Company has also installed its own equipment at some of its packaging and testing subcontractors in order to ensure a certain level of capacity, assuming the subcontractor has ample employees to operate the equipment.
The net book value of equipment and machinery that were consigned to multiple foundries in China was $11.4 million and $15.0 million as of January 30, 2022 and January 31, 2021, respectively. The net book value of equipment and machinery that were consigned to a foundry in Malaysia was $3.3 million and $4.1 million as of January 30, 2022 and January 31, 2021, respectively.