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Share-Based Compensation (Tables) | 12 Months Ended
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Jan. 26, 2025
Share-Based Payment Arrangement, Noncash Expense [Abstract] |
Summary of allocation of stock-based compensation | Pre-tax share-based compensation, excluding the acceleration of Sierra Wireless equity awards in fiscal year 2023, was included in the Statements of Operations for fiscal years 2025, 2024 and 2023 as follows:
| Fiscal Year Ended
(in thousands) | January 26, 2025 |  | January 28, 2024 |  | January 29, 2023
Cost of sales | $ | 2,933 |  |  | $ | 1,995 |  |  | $ | 2,645 |
Product development and engineering | 13,965 |  |  | 12,844 |  |  | 15,110 |
Selling, general and administrative | 51,138 |  |  | 25,331 |  |  | 21,493 |
Share-based compensation | $ | 68,036 |  |  | $ | 40,170 |  |  | $ | 39,248 |
Summary of the activity for stock option awards | The following table summarizes the activity for stock options for fiscal year 2025:
(in thousands, except per share data) | Number of Shares |  | Weighted- Average Exercise Price (per share) |  | Aggregate Intrinsic Value (1) |  |  |  | Number of Shares Exercisable |  | Weighted-Average Contractual Term (years)
Vested and expected to vest at January 28, 2024 | 501 |  |  | $ | 30.92 |  |  | $ | 8 |  |  |  |  | 201 |  | 4.5
Exercised | (148) |  |  | 29.37 |  |  | 4,026 |  |  |  |  |  |  |
Forfeited | (67) |  |  | 40.08 |  |  |  |  |  |  |  |  |
Vested and expected to vest at January 26, 2025 | 286 |  |  | 29.59 |  |  | 12,434 |  |  |  |  | 150 |  | 3.8
Vested and exercisable at January 26, 2025 | 150 |  |  | 29.85 |  |  | 6,492 |  |  |  |  |  |  | 3.8
(1) The aggregate intrinsic value of stock options vested and exercisable and vested and expected to vest as of January 26, 2025 is calculated based on the difference between the exercise price and the $73.02 closing price of the Company's common stock as of January 26, 2025.
Summary of unvested stock option awards | The following table summarizes information regarding nonvested stock option awards at January 26, 2025:
(in thousands, except per share data) | Number of Shares |  | Weighted-Average Exercise Price (per share) |  | Weighted-Average Grant Date Fair Value (per share)
Nonvested at January 28, 2024 | 300 |  |  | $ | 29.30 |  |  | $ | 12.77 |
Vested | (138) |  |  | 29.30 |  |  | 12.77 |
Forfeited | (26) |  |  | 29.30 |  |  | 12.77 |
Nonvested at January 26, 2025 | 136 |  |  | 29.30 |  |  | 12.77 |
Summary of activity for market performance units | The following table summarizes the activity for restricted stock units awarded to employees for fiscal year 2025:
(in thousands, except per share data) | Total Units |  | Units Subject to Share Settlement |  | Units Subject to Cash Settlement |  | Weighted-Average Grant Date Fair Value (per share) |  |  |  |
Nonvested at January 28, 2024 | 2,599 |  |  | 2,591 |  |  | 8 |  |  | $ | 29.64 |  |  |  |  |
Granted | 1,606 |  |  | 1,606 |  |  | — |  |  | 31.98 |  |  |  |  |
Vested | (1,123) |  |  | (1,120) |  |  | (3) |  |  | 36.78 |  |  |  |  |
Forfeited | (362) |  |  | (361) |  |  | (1) |  |  | 32.30 |  |  |  |  |
Nonvested at January 26, 2025 | 2,720 |  |  | 2,716 |  |  | 4 |  |  | 28.94 |  |  |  |  |
The following table summarizes the activity for restricted stock units awarded to non-employee directors for fiscal year 2025:
(in thousands, except per share data) | Total Units |  | Units Subject to Share Settlement |  | Units Subject to Cash Settlement |  | Weighted-Average Grant Date Fair Value (per share)
Nonvested at January 28, 2024 | 76 |  |  | 38 |  |  | 38 |  |  | $ | 24.76 |
Granted | 52 |  |  | 26 |  |  | 26 |  |  | 31.50 |
Vested | (78) |  |  | (39) |  |  | (39) |  |  | 24.96 |
Forfeited | (4) |  |  | (2) |  |  | (2) |  |  | 31.50 |
Nonvested at January 26, 2025 | 46 |  |  | 23 |  |  | 23 |  |  | 31.50 |
The following table summarizes the activity for the Metric-based Awards for fiscal year 2025:
(in thousands, except per share data) | Total Units |  | Weighted-Average Grant Date Fair Value (per share)
Nonvested at January 28, 2024 | 116 |  |  | $ | 23.53 |
Granted | — |  |  | — |
Vested | (27) |  |  | 33.89 |
Cancelled/Forfeited (1) | (30) |  |  | 23.72 |
Nonvested at January 26, 2025 | 59 |  |  | 30.86 |
(1) Primarily represents forfeitures due to the terminations of certain recipients, as well as cancellations due to awards not meeting the performance targets.
Share-Based Payment Arrangement, Outstanding Award, Activity, Excluding Option | The following table summarizes the activity for the Performance Awards for fiscal year 2025:
(in thousands, except per share data) | Total Units |  | Weighted-Average Grant Date Fair Value (per share)
Nonvested at January 28, 2024 | — |  |  | $ | — |
Granted | 444 |  |  | 43.24 |
Vested | — |  |  | — |
Cancelled/Forfeited (1) | (75) |  |  | 48.23 |
Nonvested at January 26, 2025 | 369 |  |  | 42.23 |
(1) Primarily represents forfeitures due to the terminations of certain recipients. The following table summarizes the activity for the TSR Awards for fiscal year 2025:
(in thousands, except per share data) | Total Units |  | Weighted-Average Grant Date Fair Value (per share)
Nonvested at January 28, 2024 | 105 |  |  | $ | 45.66 |
Granted | — |  |  | — |
Vested | — |  |  | — |
Cancelled/Forfeited (1) | (34) |  |  | 45.50 |
Nonvested at January 26, 2025 | 71 |  |  | 47.26 |
(1) Primarily represents forfeitures due to the terminations of certain recipients.

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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of cost not yet recognized and weighted-average period over which cost is expected to be recognized for nonvested award under share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (i) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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