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Segment Information | 6 Months Ended
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Jul. 27, 2025
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 net sales and gross profit of the Company's major product lines, which represent its operating segments, to allocate resources (including employees, property, and financial or capital resources) for each segment predominantly in the annual budget and forecasting process. The Company currently has three operating segments—Signal Integrity ("SIP"), Analog Mixed Signal and Wireless ("AMW"), and IoT Systems and Connectivity ("ISC")—that represent three separate reportable segments. The SIP reportable segment consists of a portfolio of optical and copper data communications and video transport products used in a wide variety of infrastructure and industrial applications. The AMW reportable segment provides infrastructure, industrial and high-end customers with high-performance protection devices and a portfolio of specialized radio frequency products. The SIP and AMW reportable segments together constitute our Semiconductor Products business. The ISC reportable segment provides industrial customers with an IoT solutions portfolio that includes a wide range of modules, gateways, routers, and connected services. 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. The Company adopted the provisions of ASU 2023-07 for the year ended January 26, 2025, on a retrospective basis and included enhanced disclosures relating to its reportable segments. Net sales and gross profit by reportable segment were as follows:
| Three Months Ended July 27, 2025
(in thousands) | Signal Integrity |  | Analog Mixed Signal and Wireless |  | Total Semiconductor Products |  | IoT Systems and Connectivity |  | Unallocated(1) |  | Total
Net sales | $ | 76,758 |  | $ | 92,042 |  | $ | 168,800 |  | $ | 88,789 |  | $ | — |  |  | $ | 257,589
Segment cost of sales | 28,899 |  | 37,482 |  | 66,381 |  | 53,735 |  | 3,368 |  |  | 123,484
Segment gross profit | $ | 47,859 |  | $ | 54,560 |  | $ | 102,419 |  | $ | 35,054 |  | $ | (3,368) |  |  | $ | 134,105
Segment gross margin | 62.4 | % |  | 59.3 | % |  | 60.7 | % |  | 39.5 | % |  | NM(2) |  |
Gross margin |  |  |  |  |  |  |  |  |  |  | 52.1 | %
(1) Unallocated includes share-based compensation, and amortization of acquired technology (2) Not meaningful
| Six Months Ended July 27, 2025
(in thousands) | Signal Integrity |  | Analog Mixed Signal and Wireless |  | Total Semiconductor Products |  | IoT Systems and Connectivity |  | Unallocated(1) |  | Total
Net sales | $ | 150,279 |  | $ | 182,665 |  | $ | 332,944 |  | $ | 175,705 |  | $ | — |  |  | $ | 508,649
Segment cost of sales | 54,256 |  | 71,660 |  | 125,916 |  | 110,728 |  | 6,611 |  | 243,255
Segment gross profit | $ | 96,023 |  | $ | 111,005 |  | $ | 207,028 |  | $ | 64,977 |  | $ | (6,611) |  | $ | 265,394
Segment gross margin | 63.9 | % |  | 60.8 | % |  | 62.2 | % |  | 37.0 | % |  | NM(2) |  |
Gross margin |  |  |  |  |  |  |  |  |  |  | 52.2 | %
(1) Unallocated includes share-based compensation, and amortization of acquired technology (2) Not meaningful
| Three Months Ended July 28, 2024
(in thousands) | Signal Integrity |  | Analog Mixed Signal and Wireless |  | Total Semiconductor Products |  | IoT Systems and Connectivity |  | Unallocated(1) |  | Total
Net sales | $ | 59,434 |  | $ | 79,311 |  | $ | 138,745 |  | $ | 76,610 |  | $ | — |  |  | $ | 215,355
Segment cost of sales | 22,666 |  | 33,912 |  | 56,578 |  | 49,499 |  | 3,814 |  |  | 109,891
Segment gross profit | $ | 36,768 |  | $ | 45,399 |  | $ | 82,167 |  | $ | 27,111 |  | $ | (3,814) |  |  | $ | 105,464
Segment gross margin | 61.9 | % |  | 57.2 | % |  | 59.2 | % |  | 35.4 | % |  | NM(2) |  |
Gross margin |  |  |  |  |  |  |  |  |  |  | 49.0 | %
(1) Unallocated includes share-based compensation, and amortization of acquired technology (2) Not meaningful
| Six Months Ended July 28, 2024
(in thousands) | Signal Integrity |  | Analog Mixed Signal and Wireless |  | Total Semiconductor Products |  | IoT Systems and Connectivity |  | Unallocated(1) |  | Total
Net sales | $ | 117,733 |  | $ | 154,655 |  | $ | 272,388 |  | $ | 149,072 |  | $ | — |  |  | $ | 421,460
Segment cost of sales | 46,204 |  | 68,552 |  | 114,756 |  | 94,867 |  | 6,781 |  | 216,404
Segment gross profit | $ | 71,529 |  | $ | 86,103 |  | $ | 157,632 |  | $ | 54,205 |  | $ | (6,781) |  | $ | 205,056
Segment gross margin | 60.8 | % |  | 55.7 | % |  | 57.9 | % |  | 36.4 | % |  | NM(2) |  |
Gross margin |  |  |  |  |  |  |  |  |  |  | 48.7 | %
(1) Unallocated includes share-based compensation, and amortization of acquired technology (2) Not meaningful Geographic Information Net sales activity by geographic region was as follows:
| Three Months Ended |  | Six Months Ended
(percentage of total net sales) | July 27, 2025 |  | July 28, 2024 |  | July 27, 2025 |  | July 28, 2024
Asia-Pacific | 65% |  | 65% |  | 64% |  | 64%
North America | 24% |  | 21% |  | 23% |  | 22%
Europe | 11% |  | 14% |  | 13% |  | 14%
| 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 27, 2025 |  | July 28, 2024 |  | July 27, 2025 |  | July 28, 2024
China (including Hong Kong) | 45% |  | 45% |  | 44% |  | 44%
United States | 19% |  | 20% |  | 18% |  | 20%
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.

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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/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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