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Segment Information | 6 Months Ended
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Jul. 28, 2024
Segment Reporting [Abstract] |
Segment Information | Segment Information The Company’s Chief Executive Officer 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 currently has three operating segments—Signal Integrity, Analog Mixed Signal and Wireless, and IoT Systems and Connectivity—that represent three separate reportable segments. Prior to the fourth quarter of fiscal year 2024, the Company had four operating segments—Signal Integrity, Advanced Protection and Sensing, IoT Systems and IoT Connected Services. In the fourth quarter of fiscal year 2024, as a result of organizational restructuring, the wireless business, which was previously included in the former IoT Systems operating segment, and the software defined video over ethernet business, which was previously included in the Signal Integrity operating segment, were moved into the Analog Mixed Signal and Wireless operating segment, formerly the Advanced Protection and Sensing operating segment, which also includes the proximity sensing, power and protection businesses. In the first quarter of fiscal year 2025, as a result of organizational restructuring, the Company combined the IoT Systems operating segment and the IoT Connected Services operating segment into the newly formed IoT Systems and Connectivity operating segment. As a result of the reorganization, the Company has three reportable segments. 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:
| Three Months Ended |  | Six Months Ended
(in thousands) | July 28, 2024 |  | July 30, 2023 |  | July 28, 2024 |  | July 30, 2023
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Signal Integrity | $ | 59,434 |  |  | 28 | % |  | $ | 46,126 |  |  | 19 | % |  | $ | 117,733 |  |  | 28 | % |  | $ | 87,017 |  |  | 18 | %
Analog Mixed Signal and Wireless | 79,311 |  |  | 37 | % |  | 69,989 |  |  | 29 | % |  | 154,655 |  |  | 37 | % |  | 129,608 |  |  | 27 | %
IoT Systems and Connectivity | 76,610 |  |  | 35 | % |  | 122,257 |  |  | 52 | % |  | 149,072 |  |  | 35 | % |  | 258,286 |  |  | 55 | %
Total net sales | $ | 215,355 |  |  | 100 | % |  | $ | 238,372 |  |  | 100 | % |  | $ | 421,460 |  |  | 100 | % |  | $ | 474,911 |  |  | 100 | %
Gross profit: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Signal Integrity | $ | 36,768 |  |  |  |  | $ | 27,606 |  |  |  |  | $ | 71,529 |  |  |  |  | $ | 52,093 |  |  |
Analog Mixed Signal and Wireless | 45,399 |  |  |  |  | 43,123 |  |  |  |  | 86,103 |  |  |  |  | 79,597 |  |  |
IoT Systems and Connectivity | 27,111 |  |  |  |  | 47,349 |  |  |  |  | 54,205 |  |  |  |  | 101,157 |  |  |
Unallocated costs, including share-based compensation and amortization of acquired technology | (3,814) |  |  |  |  | (17,350) |  |  |  |  | (6,781) |  |  |  |  | (29,173) |  |  |
Total gross profit | $ | 105,464 |  |  |  |  | $ | 100,728 |  |  |  |  | $ | 205,056 |  |  |  |  | $ | 203,674 |  |  |
Geographic Information Net sales activity by geographic region was as follows:
| Three Months Ended |  | Six Months Ended
(percentage of total net sales) | July 28, 2024 |  | July 30, 2023 |  | July 28, 2024 |  | July 30, 2023
Asia-Pacific | 65% |  | 62% |  | 64% |  | 57%
North America | 21% |  | 24% |  | 22% |  | 28%
Europe | 14% |  | 14% |  | 14% |  | 15%
| 100% |  | 100% |  | 100% |  | 100%
The Company attributes sales to a country based on the ship-to address. The table below summarizes sales activity to geographies that represented greater than 10% of total sales for at least one of the periods presented:
| Three Months Ended |  | Six Months Ended
(percentage of total net sales) | July 28, 2024 |  | July 30, 2023 |  | July 28, 2024 |  | July 30, 2023
China (including Hong Kong) | 45% |  | 29% |  | 44% |  | 27%
United States | 20% |  | 23% |  | 20% |  | 25%
Although a large percentage of the Company's products is shipped into the Asia-Pacific region, a significant number of products produced by these customers and incorporating the Company's semiconductor products are then sold outside this region. Sales by Revenue Type Net sales by revenue type were as follows:
| Three Months Ended |  | Six Months Ended
(in thousands) | July 28, 2024 |  | July 30, 2023 |  | July 28, 2024 |  | July 30, 2023
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Product sales | $ | 185,966 |  |  | 86 | % |  | $ | 210,196 |  |  | 88 | % |  | $ | 363,455 |  |  | 86 | % |  | $ | 417,577 |  |  | 88 | %
Service revenue | 29,389 |  |  | 14 | % |  | 28,176 |  |  | 12 | % |  | 58,005 |  |  | 14 | % |  | 57,334 |  |  | 12 | %
Total net sales | $ | 215,355 |  |  | 100 | % |  | $ | 238,372 |  |  | 100 | % |  | $ | 421,460 |  |  | 100 | % |  | $ | 474,911 |  |  | 100 | %

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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