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Stock-Based Compensation (Tables)

12 Months Ended

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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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.

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