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Stock-Based Compensation (Tables) | 12 Months Ended
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Jun. 30, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Nonvested Restricted Stock Awards and Restricted Stock Unit Awards Outstanding | A summary of nonvested restricted stock units (RSUs) outstanding as of June 30, 2024 and changes during the year then ended is as follows (shares in thousands):
| Number of RSUs |  | Weighted Average Grant-Date Fair Value
Nonvested at June 25, 2023 | 2,340 |  |  | $85.32 |
Granted | 2,136 |  |  | 61.28 |
Vested | (1,014) |  |  | 76.86 |
Forfeited | (424) |  |  | 77.47 |
Nonvested at June 30, 2024 | 3,038 |  |  | $72.33 |
Schedule of Total Stock-Based Compensation Expense | Total stock-based compensation expense was classified in the consolidated statements of operations as follows:
| Fiscal Years Ended
(in millions of U.S. Dollars) | June 30, 2024 |  | June 25, 2023 |  | June 26, 2022
Cost of revenue, net | $28.5 |  |  | $20.3 |  |  | $14.9 |
Research and development | 11.4 |  |  | 11.2 |  |  | 6.5 |
Sales, general and administrative | 45.0 |  |  | 41.2 |  |  | 32.3 |
Total stock-based compensation expense | $84.9 |  |  | $72.7 |  |  | $53.7 |
Schedule of Weighted Average Assumptions Utilized to Value Stock-Based Compensation | The range of assumptions used to value stock issued under the ESPP were as follows:
| Fiscal Years Ended
| June 30, 2024 |  | June 25, 2023 |  | June 26, 2022
Risk-free interest rate | 5.44 - 5.54% |  | 4.57 - 5.06% |  | 0.03 - 2.10%
Expected life, in years | 0.5 - 1.0 |  | 0.5 - 1.0 |  | 0.5 - 1.0
Volatility | 73.5 - 74.4% |  | 66.8 - 86.2% |  | 60.6 - 69.4%
Dividend yield | — |  |  | — |  |  | — |
The range of assumptions used for performance-based awards with market conditions were as follows:
| Fiscal Years Ended
| June 30, 2024 |  | June 25, 2023 |  | June 26, 2022
Risk-free interest rate | 4.52% |  | 2.80% |  | 0.35%
Expected life, in years | 3.0 |  | 3.0 |  | 3.0
Average volatility of peer companies | 65.9% |  | 68.8% |  | 65.0%
Average correlation coefficient of peer companies | 0.44 |  | 0.48 |  | 0.47
Dividend yield | — |  |  | — |  |  | — |

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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 of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (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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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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