STOCK PLANS AND STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Apr. 03, 2021

Share-based Payment Arrangement [Abstract]

Share-based Payment Arrangement, Performance Shares, Activity [Table Text Block]

The following table summarizes the changes in unvested PSUs for Fiscal Year 2021:

	Number of Shares	Weighted Average Grant Date Fair Value
	(in thousands)
Unvested at March 28, 2020	421	$	61.09
Granted	988	$	22.83
Vested	(72)	$	79.88
Forfeited	(354)	$	42.69
Non-vested at April 3, 2021	983	$	27.88

Stock-Based Compensation Expense Included in Statements of Operations

The following table summarizes the amount of stock-based compensation expense included in the Consolidated Statements of Operations:

	Fiscal Year Ended
(in thousands)	April 3, 2021		March 28, 2020		March 30, 2019
Cost of revenues	$	2,939	$	3,992	$	4,176
Research, development and engineering	13,785		16,785		11,699
Selling, general, and administrative	25,926		36,318		26,059
Operating expenses	39,711		53,103		37,758
Total stock-based compensation expense	42,650		57,095		41,934
Income tax benefit	(10,321)		(7,369)		(9,891)
Total stock-based compensation expense, net of tax	$	32,329	$	49,726	$	32,043

Summary of Stock Option Activity

The following is a summary of the Company’s stock option activity during Fiscal Year 2021:

	Options Outstanding
	Number of Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life	Aggregate Intrinsic Value
	(in thousands)			(in years)	(in thousands)
Outstanding at March 28, 2020	352	$	47.39
Options granted	—	$	—
Options exercised	(10)	$	42.66
Options forfeited or expired	(288)	$	47.25
Outstanding at April 3, 2021	54	$	48.98	1.6	$	—
Vested and exercisable at April 3, 2021	54	$	48.98	1.6	$	—

Summary of Restricted Stock Activity

The following table summarizes the changes in unvested restricted stock for Fiscal Year 2021:

	Number of Shares	Weighted Average Grant Date Fair Value
	(in thousands)
Unvested at March 28, 2020	1,911	$	43.71
Granted	1,440	$	15.42
Vested	(888)	$	44.47
Forfeited	(404)	$	37.08
Non-vested at April 3, 2021	2,059	$	24.91

Valuation Assumptions

The Company estimates the fair value of ESPP shares using a Black-Scholes option valuation model.  At the date of grant, the Company estimates the fair value of purchase rights granted under the ESPP using the following weighted average assumptions:

	Fiscal Year Ended
	April 3, 2021			March 28, 2020			March 30, 2019
Expected volatility	94.8		%	67.0		%	40.8		%
Risk-free interest rate	0.1		%	1.7		%	2.4		%
Expected dividends	—		%	3.1		%	1.1		%
Expected life (in years)	0.5			0.5			0.5
Weighted-average grant date fair value	$	12.60		$	6.64		$	14.44