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Stockholders’ Equity and Stock-Based Compensation (Tables) | 6 Months Ended
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Jun. 28, 2025
Equity [Abstract] |
Schedule of Restricted Stock Unit Activity | Restricted stock unit (“RSU”) activity under our equity incentive plan was as follows:
| Units |  | Weighted Average Grant Date Fair Value
RSUs at December 28, 2024 | 1,776,743 |  |  | $ | 39.07 |
Awards granted | 65,964 |  |  | 32.27 |
Awards vested | (312,849) |  |  | 37.56 |
Awards forfeited | (67,548) |  |  | 37.21 |
RSUs at June 28, 2025 | 1,462,310 |  |  | 39.38 |
Schedule of ESPP Activity | Information related to activity under our Employee Stock Purchase Plan (“ESPP”) was as follows:
|  | Six Months Ended
|  | June 28, 2025
Shares issued |  | 197,051 |
Weighted average per share purchase price |  | $ | 33.37 |
Weighted average per share discount from the fair value of our common stock on the date of issuance |  | $ | (6.69) |
Schedule of Stock-based Compensation | Stock-based compensation was included in our Condensed Consolidated Statements of Income as follows (in thousands):
| Three Months Ended |  | Six Months Ended
| June 28, 2025 |  | June 29, 2024 |  | June 28, 2025 |  | June 29, 2024
Cost of revenues | $ | 1,690 |  |  | $ | 1,932 |  |  | $ | 3,695 |  |  | $ | 3,860 |
Research and development | 2,536 |  |  | 2,614 |  |  | 5,182 |  |  | 5,227 |
Selling, general and administrative | 5,165 |  |  | 5,663 |  |  | 10,310 |  |  | 11,527 |
Total stock-based compensation | $ | 9,391 |  |  | $ | 10,209 |  |  | $ | 19,187 |  |  | $ | 20,614 |
Schedule of Unrecognized Stock-based Compensation | At June 28, 2025, the unrecognized stock-based compensation was as follows (dollars in thousands):
| Unrecognized Expense |  | Average Expected Recognition Period in Years
Restricted stock units | $ | 29,396 |  |  | 1.62
Performance restricted stock units | 6,219 |  |  | 1.63
Employee stock purchase plan | 320 |  |  | 0.09
Total unrecognized stock-based compensation expense | $ | 35,935 |  |  | 1.61

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