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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 28, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of stock-based compensation costs recognized in the Condensed Consolidated Statements of Income | The following table presents details of stock-based compensation costs recognized in the Consolidated Statements of Operations (in thousands):
| Year Ended
| December 28, 2024 |  | December 30, 2023 |  | December 31, 2022
Cost of revenues | $ | 1,678 |  |  | $ | 906 |  |  | $ | 1,152 |
Research and development | 40,393 |  |  | 35,491 |  |  | 32,860 |
Selling, general and administrative | 19,431 |  |  | 11,812 |  |  | 26,498 |
| 61,503 |  |  | 48,208 |  |  | 60,510 |
Income tax benefit | (8,557) |  |  | (6,230) |  |  | (5,980) |
Total | $ | 52,946 |  |  | $ | 41,978 |  |  | $ | 54,530 |
Summary of assumptions used to estimate fair values for ESPP | The fair values estimated from the Black-Scholes option-pricing model for ESPP shares granted were calculated using the following assumptions:
|  | Year Ended
Employee Stock Purchase Plan |  | December 28, 2024 |  | December 30, 2023 |  | December 31, 2022
Expected volatility |  | 45 | % |  | 40 | % |  | 44 | %
Risk-free interest rate % |  | 4.39 | % |  | 5.47 | % |  | 3.18 | %
Expected term (in months) |  | 9 |  | 9 |  | 9
Dividend yield |  | — |  |  | — |  |  | — |
Summary of stock-based compensation activity, options | A summary of stock-based compensation activity with respect to fiscal 2024 follows:
Stock Options |  | Shares (000s) |  | Weighted- Average Exercise Price |  | Weighted-Average Remaining Contractual Term (In Years) |  | Aggregate Intrinsic Value (000s)
Outstanding at December 30, 2023 |  | 94 |  | $ | 39.03 |  |  | 2.12 |  | $ | 8,790 |
Exercised |  | 76 |  | $ | 37.88 |  |  |  |  | $ | 6,063 |
Outstanding at December 28, 2024 |  | 18 |  | $ | 43.82 |  |  | 1.08 |  | $ | 1,534 |
Vested at December 28, 2024 and expected to vest |  | 18 |  | $ | 43.82 |  |  | 1.08 |  | $ | 1,534 |
Exercisable at December 28, 2024 |  | 18 |  | $ | 43.82 |  |  | 1.08 |  | $ | 1,534 |
Summary of stock-based compensation activity, RSAs and RSUs |
RSAs and RSUs |  | Shares (000s) |  | Weighted- Average Grant Date Fair Value |  | Weighted-Average Remaining Vesting Term (In Years) |  | Aggregate Intrinsic Value (000s)
Outstanding at December 30, 2023 |  | 824 |  | $ | 138.95 |  |  |  |  |
Granted |  | 605 |  | $ | 125.19 |  |  |  |  |
Vested or issued |  | (385) |  | $ | 135.90 |  |  |  |  |
Cancelled or forfeited |  | (76) |  | $ | 129.69 |  |  |  |  |
Outstanding at December 28, 2024 |  | 968 |  | $ | 132.26 |  |  | 1.22 |  | $ | 123,685 |
Outstanding at December 28, 2024 and expected to vest |  | 887 |  | $ | 132.62 |  |  | 1.22 |  | $ | 113,354 |
Summary of stock-based compensation activity, PSUs and MSUs |
PSUs and MSUs |  | Shares (000s) |  | Weighted- Average Grant Date Fair Value |  | Weighted-Average Remaining Vesting Term (In Years) |  | Aggregate Intrinsic Value (000s)
Outstanding at December 30, 2023 |  | 245 |  | $ | 164.62 |  |  |  |  |
Granted |  | 116 |  | $ | 138.22 |  |  |  |  |
Vested or issued |  | (55) |  | $ | 165.27 |  |  |  |  |
Cancelled or forfeited |  | (71) |  | $ | 143.51 |  |  |  |  |
Outstanding at December 28, 2024 |  | 235 |  | $ | 165.73 |  |  | 1.23 |  | $ | 30,069 |
Outstanding at December 28, 2024 and expected to vest |  | 50 |  | $ | 139.69 |  |  | 1.23 |  | $ | 6,401 |
Summary of weighted average fair value at the date of grant | The following summarizes the Company’s weighted average fair value at the date of grant:
| Year Ended
| December 28, 2024 |  | December 30, 2023 |  | December 31, 2022
Per grant of RSAs and RSUs | $ | 125.19 |  |  | $ | 137.11 |  |  | $ | 144.40 |
Per grant of PSUs and MSUs | $ | 138.22 |  |  | $ | 188.45 |  |  | $ | 160.97 |
Summary of stock-based payment and stock option values | The following summarizes the Company’s stock-based payment and stock option values (in thousands):
| Year Ended
| December 28, 2024 |  | December 30, 2023 |  | December 31, 2022
Intrinsic value of stock options exercised | $ | 6,063 |  |  | $ | 2,162 |  |  | $ | — |
Intrinsic value of RSUs that vested | $ | 49,008 |  |  | $ | 61,371 |  |  | $ | 57,621 |
Grant date fair value of RSUs that vested | $ | 52,371 |  |  | $ | 53,088 |  |  | $ | 41,610 |
Intrinsic value of PSUs and MSUs that vested | $ | 7,202 |  |  | $ | 5,163 |  |  | $ | — |
Grant date fair value of PSUs and MSUs that vested | $ | 9,067 |  |  | $ | 3,037 |  |  | $ | — |
Summary of shares reserved of common stock for future issuance | As of December 28, 2024, the Company had reserved shares of common stock for future issuance as follows (in thousands):
2009 Plan | 1,522
2009 ESPP | 818
Total shares reserved | 2,340

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- Definition Disclosure of the number and weighted-average grant date fair value for performance share units and market based-stock units that were outstanding at the beginning and end of the year, and the number of market-based stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -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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