Investments

The following table summarizes the Company’s available-for-sale securities:



	January 27, 2019						January 28, 2018
(in thousands)	Market Value		Adjusted Cost		Gross Unrealized Gain		Market Value		Adjusted Cost		Gross Unrealized Gain
Convertible debt	$	3,105	$	3,105	$	—	$	1,960	$	1,960	$	—
Total other assets	$	3,105	$	3,105	$	—	$	1,960	$	1,960	$	—

The following table summarizes the maturities of the Company’s available-for-sale securities:



	January 27, 2019
(in thousands)	Market Value		Adjusted Cost
Within 1 year	$	3,105	$	3,105
After 1 year through 5 years	—		—
Total investments	$	3,105	$	3,105

The Company's AFS securities consisted of investments in convertible debt instruments issued by privately-held companies and are included in "Other current assets" in the Balance Sheets.

The Company currently has an investment in Multiphy Ltd. ("Multiphy") that is accounted for at cost and was included in "Other assets" in the Balance Sheets. During the third quarter of fiscal year 2019, the Company reduced its expectation of Multiphy's future operating performance due to new information that became available during the quarter. The Company concluded that the competitive landscape had evolved and that product release and broad market adoption of 400G PAM4 digital signal processing (DSP) technology was delayed. As a result of these indicators of impairment, the Company tested the investment for an other-than-temporary impairment using a discounted cash flow model. The results of its analysis indicated that the investment was other-than temporarily impaired by $30.0 million, representing the entire carrying value of the investment. Multiphy began winding down operations during the fourth quarter of fiscal year 2019.