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Stock-Based Compensation (Tables) | 12 Months Ended
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Mar. 29, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Restricted Stock Units Activity | The following table summarizes RSU activity for the fiscal year ended March 29, 2024:
|  | Number of Shares |  |  | Weighted-Average Grant-Date Fair Value |  |  | Weighted-Average Remaining Contractual Life (In years) |  |  | Aggregate Intrinsic Value |
Outstanding - March 31, 2023 |  |  | 2,251,224 |  |  | $ | 23.85 |  |  |  | 1.27 |  |  | $ | 108,036 |
Granted |  |  | 1,112,545 |  |  |  | 36.14 |  |  |  |  |  |  |
Issued |  |  | (979,332 | ) |  |  | 23.57 |  |  |  |  |  |  |
Forfeited |  |  | (168,816 | ) |  |  | 28.52 |  |  |  |  |  |  |
Outstanding - March 29, 2024 |  |  | 2,215,621 |  |  | $ | 29.82 |  |  | 1.03 |  |  | $ | 59,733 |
Schedule of Performance Units Fair Value Assumptions | The weighted-average fair value of the PSUs granted during the year was determined using the Monte Carlo simulation model incorporating the following weighted-average assumptions:
|  | Fiscal Year Ended
|  | March 29, 2024 |  | March 31, 2023
Performance term |  | 2.87 years |  | 2.81 years
Volatility |  | 47.70% |  | 51.30%
Risk-free rate of return |  | 3.68% |  | 2.76%
Dividend yield |  | —% |  | —%
Weighted-average fair value per share |  | $43.83 |  | $30.69
Summary of Performance Stock Units Activity | The following table summarizes PSU activity for the fiscal year ended March 29, 2024:
|  | Number of Shares |  |  | Weighted-Average Grant-Date Fair Value |  |  | Weighted-Average Remaining Contractual Life (In years) |  |  | Aggregate Intrinsic Value |
Outstanding - March 31, 2023 |  |  | 2,748,347 |  |  | $ | 23.47 |  |  |  | 2.63 |  |  | $ | 131,893 |
Granted |  |  | 333,857 |  |  |  | 39.04 |  |  |  |  |  |  |
Excess shares issued due to achievement of performance conditions |  |  | 500,451 |  |  |  | 17.65 |  |  |  |  |  |  |
Issued |  |  | (1,062,884 | ) |  |  | 21.43 |  |  |  |  |  |  |
Forfeited |  |  | (90,378 | ) |  |  | 23.87 |  |  |  |  |  |  |
Outstanding - March 29, 2024 |  |  | 2,429,393 |  |  | $ | 25.64 |  |  | 2.32 |  |  | $ | 65,496 |
Schedule of Stock-Based Compensation Expense | The Company recorded stock-based compensation expense on its consolidated statements of operations as follows:
|  | Fiscal Year Ended |
|  | March 29, 2024 |  |  | March 31, 2023 |  |  | March 25, 2022 |
RSUs |  | $ | 28,162 |  |  | $ | 33,708 |  |  | $ | 19,918 |
PSUs |  |  | 12,825 |  |  |  | 26,890 |  |  |  | 11,997 |
ESPP |  |  | 1,438 |  |  |  | 921 |  |  |  | 1,099 |
Other |  |  | 32 |  |  |  | 279 |  |  |  | 534 |
Total |  | $ | 42,457 |  |  | $ | 61,798 |  |  | $ | 33,548 |
|  | Fiscal Year Ended |
|  | March 29, 2024 |  |  | March 31, 2023 |  |  | March 25, 2022 |
Cost of sales |  | $ | 5,359 |  |  | $ | 5,090 |  |  | $ | 3,176 |
Research and development |  |  | 13,894 |  |  |  | 9,496 |  |  |  | 3,933 |
Selling, general and administrative |  |  | 23,204 |  |  |  | 47,212 |  |  |  | 26,439 |
Total stock-based compensation |  | $ | 42,457 |  |  | $ | 61,798 |  |  | $ | 33,548 |
Schedule of ESPP Fair Value Assumptions | The weighted-average fair value of the ESPP shares was determined using the Black-Scholes model incorporating the following weighted-average assumptions:
|  | Fiscal Year Ended |
|  | March 29, 2024 |  |  | March 31, 2023 |  |  | March 25, 2022 |
Expected performance term |  | 0.50 years |  |  | 0.50 years |  |  | 0.50 years |
Volatility |  |  | 40.97 | % |  |  | 44.99 | % |  |  | 48.10 | %
Risk-free rate of return |  |  | 5.35 | % |  |  | 3.58 | % |  |  | 0.10 | %
Dividend yield |  |  | — | % |  |  | — | % |  |  | — | %
Weighted-average fair value per share |  | $ | 9.51 |  |  | $ | 6.83 |  |  | $ | 8.25 |

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