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Segment Information
 3 Months Ended
May 02, 2021
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 have similar economic characteristics and have been aggregated into one reportable segment identified as the "Semiconductor Products Group."
The Company’s assets are commingled among the three 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 segment in the segment disclosures below.
Net sales by segment were as follows:
Three Months Ended
(in thousands)May 2, 2021April 26, 2020
Semiconductor Products Group$170,372 $132,702 
Total$170,372 $132,702 
The following table presents a reconciliation of operating income by segment to consolidated income before taxes. Historical amounts have been adjusted to conform to the current presentation:
Three Months Ended
(in thousands)May 2, 2021April 26, 2020
Semiconductor Products Group$41,469 $28,098 
   Operating income by segment41,469 28,098 
Items to reconcile segment operating income to consolidated income before taxes:
Share-based compensation11,839 9,379 
Intangible amortization1,298 2,840 
Investment impairments and credit loss reserves246 3,630 
Changes in the fair value of contingent earn-out obligations— (33)
Litigation cost, net of recoveries540 146 
Transaction and integration related(177)(2)
Interest expense1,199 1,559 
Non-operating income, net(94)(423)
Income before taxes and equity in net gains of equity method investments$26,618 $11,002 
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:
Three Months Ended
(in thousands, except percentages)May 2, 2021April 26, 2020
Signal Integrity$66,695 39 %$59,929 45 %
Wireless and Sensing58,507 34 %32,958 25 %
Protection45,170 27 %39,815 30 %
Total net sales$170,372 100 %$132,702 100 %
Information by Sales Channel
(in thousands, except percentages)Three Months Ended
May 2, 2021April 26, 2020
Distributor$146,400 86 %$103,948 78 %
Direct23,972 14 %28,754 22 %
Total net sales$170,372 100 %$132,702 100 %
Generally, the Company does not have long-term contracts with its distributors and most can terminate their agreement with little or no notice. For the first quarter of fiscal year 2022, the Company's largest distributors were based in Asia.
Geographic Information
Net sales activity by geographic region was as follows:
 Three Months Ended
(percentage of total net sales)May 2, 2021April 26, 2020
Asia-Pacific78 %80 %
North America13 %12 %
Europe9 %8 %
100 %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 net sales for at least one of the periods presented:
 Three Months Ended
(percentage of total net sales)May 2, 2021April 26, 2020
China (including Hong Kong)60 %57 %
United States11 %9 %
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.