Pericom Semiconductor (PSEM) 10-Q 2 Nov 15 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Sep. 26, 2015	Oct. 26, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	Pericom Semiconductor Corporation
Entity Central Index Key	1,001,426
Document Type	10-Q
Document Period End Date	Sep. 26, 2015
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--06-27
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		21,891,000

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 26, 2015	Jun. 27, 2015
Current assets:
Cash and cash equivalents	$ 41,544	$ 38,773
Investments in marketable securities	78,958	90,304
Accounts receivable
Trade (net of reserves and allowances of $1,631 and $1,830)	26,756	23,962
Other receivables	2,727	2,377
Inventories	15,183	13,613
Prepaid expenses and other current assets	3,387	3,510
Deferred income taxes	311	438
Total current assets	168,866	172,977
Property, plant and equipment - net	55,947	57,746
Investments in unconsolidated affiliates	2,289	2,311
Deferred income taxes - non-current	2,594	2,601
Intangible assets (net of accumulated amortization of $15,804 and $15,588)	3,234	4,057
Other assets	7,739	8,031
Total assets	240,669	247,723
Current liabilities:
Accounts payable	10,763	8,960
Accrued liabilities	10,142	11,425
Total current liabilities	20,905	20,385
Industrial development subsidy	5,010	5,377
Deferred income taxes	4,756	4,705
Noncurrent tax liabilities	1,424	1,411
Other long-term liabilities	426	236
Total liabilities	$ 32,521	$ 32,114
Commitments and contingencies (Note 6)
Shareholders' equity:
Common stock and paid in capital - no par value, 60,000,000 shares authorized; shares issued and outstanding: September 26, 2015, 21,891,000; June 27, 2015, 22,177,000	$ 109,455	$ 114,248
Retained earnings	94,574	92,346
Accumulated other comprehensive income, net of tax	4,119	9,015
Total shareholders' equity	208,148	215,609
Total liabilities and shareholders' equity	$ 240,669	$ 247,723

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 26, 2015	Jun. 27, 2015
Balance Sheets [Abstract]
Allowances for accounts receivable	$ 1,631	$ 1,830
Accumulated amortization on intangible assets	$ 15,804	$ 15,588
Common stock and paid in capital, no par value (in dollars per share)
Common stock and paid in capital, shares authorized	60,000,000	60,000,000
Common stock and paid in capital, shares issued	21,891,000	22,177,000
Common stock and paid in capital, shares outstanding	21,891,000	22,177,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 26, 2015	Sep. 27, 2014
Statements of Operations [Abstract]
Net revenues	$ 31,570	$ 33,259
Cost of revenues	17,229	19,179
Gross profit	14,341	14,080
Operating expenses:
Research and development	4,452	4,588
Selling, general and administrative	9,066	7,300
Total operating expenses	13,518	11,888
Income from operations	823	2,192
Interest and other income, net	3,245	1,274
Income before income tax expense	4,068	3,466
Income tax expense	535	1,010
Net income from consolidated companies	3,533	2,456
Equity in net income of unconsolidated affiliate	26	39
Net income	$ 3,559	$ 2,495
Basic income per share	$ 0.16	$ 0.11
Diluted income per share	$ 0.16	$ 0.11
Shares used in computing basic income per share	21,955	21,936
Shares used in computing diluted income per share	22,523	22,262

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Sep. 26, 2015	Sep. 27, 2014
Statements of Comprehensive Income [Abstract]
Net income	$ 3,559	$ 2,495
Other comprehensive income (loss):
Change in unrealized gain or loss on securities available for sale, net	(148)	(174)
Foreign currency translation adjustment	(4,749)	(458)
Tax benefit related to other comprehensive income (loss)	1	115
Other comprehensive income (loss), net of tax	(4,896)	(517)
Comprehensive income (loss)	$ (1,337)	$ 1,978

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Sep. 26, 2015	Sep. 27, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 3,559	$ 2,495
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	2,297	2,260
Share-based compensation	960	709
Tax benefit resulting from share-based transactions	797	293
Excess tax benefit resulting from share-based transactions	(220)	(29)
Write off of assets	66	301
Loss on sale of investments	37	6
Equity in net income of unconsolidated affiliate	(26)	(39)
Deferred taxes	441	50
Changes in assets and liabilities:
Accounts receivable	(3,962)	(1,033)
Inventories	(2,103)	370
Prepaid expenses and other current assets	77	1,400
Other assets	13	11
Accounts payable	2,651	371
Accrued liabilities	(1,701)	$ (41)
Other long-term liabilities	(3)
Net cash provided by operating activities	2,883	$ 7,124
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property, plant and equipment	(2,032)	(1,136)
Purchase of available-for-sale investments	(10,214)	(25,719)
Maturities and sales of available-for-sale investments	20,826	15,292
Net cash provided by (used in) investing activities	8,580	(11,563)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from common stock issuance under stock plans, net	6	$ 1,498
Cash dividends paid	(1,331)
Excess tax benefit resulting from stock option transactions	220	$ 29
Repurchase of common stock	(5,763)	(2,302)
Net cash used in financing activities	(6,868)	(775)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	(1,824)	(219)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	2,771	(5,433)
CASH AND CASH EQUIVALENTS:
Beginning of period	38,773	33,020
End of period	$ 41,544	$ 27,587

Basis of Presentation

Basis of Presentation	3 Months Ended
	Sep. 26, 2015
Basis of Presentation [Abstract]
BASIS OF PRESENTATION	1. BASIS OF PRESENTATION The condensed consolidated financial statements have been prepared by Pericom Semiconductor Corporation (“Pericom” or the “Company”) pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). In the opinion of management, these unaudited condensed consolidated financial statements include all adjustments, consisting only of normal recurring adjustments and accruals, necessary for a fair presentation of the Company’s financial position as of September 26, 2015, the results of operations for the three months ended September 26, 2015 and September 27, 2014 and cash flows for the three months ended September 26, 2015 and September 27, 2014. This unaudited quarterly information should be read in conjunction with the audited consolidated financial statements of Pericom and the notes thereto included in the Company’s Annual Report on Form 10-K as filed with the SEC on September 1, 2015. The preparation of the interim condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the interim condensed consolidated financial statements and the reported amounts of revenue and expenses during the period. Actual amounts could differ from these estimates. The results of operations for the three months ended September 26, 2015 are not necessarily indicative of the results to be expected for the entire year. The three month periods ended September 26, 2015 and September 27, 2014 each had 13 weeks. The Company participates in a dynamic high technology industry and believes that changes in any of the following areas could have a material adverse effect on the Company’s future financial position or results of operations: advances and trends in new technologies; competitive pressures in the form of new products or price reductions on current products; changes in the overall demand for products offered by the Company; changes in customer relationships; acquisitions and the subsequent integration of the acquired entity with the Company; litigation or claims against the Company based on intellectual property, patent, product, regulatory or other factors; risks associated with changes in domestic and international economic and/or political conditions or regulations and environmental laws; availability of necessary components; interruptions at wafer suppliers and subcontractors; fluctuations in currencies given the Company’s sales and operations being heavily weighted and paid in foreign currencies; and the Company’s ability to attract and retain employees necessary to support its growth. These interim condensed consolidated financial statements include the accounts of Pericom Semiconductor Corporation and its wholly owned subsidiaries, Pericom Global Limited (“PGL”), PSE Technology Corporation (“PSE-TW”), and Pericom Asia Limited (“PAL”). PGL has two wholly-owned subsidiaries, Pericom International Limited (“PIL”) and Pericom Semiconductor (HK) Limited (“PHK”). In addition, PAL has three subsidiaries, PSE Technology (Shandong) Corporation ("PSE-SD") and Pericom Technology Yangzhou Corporation (“PSC-YZ”) for the Jinan, China and Yangzhou, China operations, respectively, and Pericom Technology Inc. (“PTI”). The Company eliminates all intercompany balances and transactions in consolidation. PENDING TRANSACTION – On September 2, 2015, the Company entered into an Agreement and Plan of Merger (“Merger Agreement”) with Diodes Incorporated, a Delaware Corporation (“Diodes”) and PSI Merger Sub, Inc., a California corporation and a wholly-owned subsidiary of Diodes (“Merger Sub”), pursuant to which, subject to satisfaction or waiver of the conditions therein, Merger Sub will merge with and into the Company (the “Merger”), with the Company surviving as a wholly-owned subsidiary of Diodes. Pursuant to the terms of the Merger Agreement, at the effective time of the Merger (the “Effective Time”), each share of the Company’s common stock issued and outstanding immediately prior to the Effective Time, excluding shares owned by shareholders who have exercised dissenters’ rights under California law and shares owned by the Company, Diodes, Merger Sub or any of their respective subsidiaries, will be converted into the right to receive $17.00 in cash, without interest. The transaction is subject to approval by the Company’s shareholders, as well as other customary closing conditions and regulatory approvals. Concurrently with the Company’s execution of the Merger Agreement, certain directors and executive officers of the Company, in their capacities as holders of shares or other equity interests of the Company, entered into Voting Agreements with Diodes pursuant to which they agreed, among other things, to vote or cause to be voted all of the Company shares beneficially owned by such shareholders for the approval of the merger and the Merger Agreement and against any alternative proposal. Notwithstanding the foregoing, however, the Voting Agreements terminate upon the termination of the Merger Agreement in accordance with their terms, including the termination of the Merger Agreement by the Company’s Board of Directors in favor of a superior proposal. The Company has agreed to customary restrictions on its ability to solicit and respond to any other proposals from third parties to acquire it and to provide information to, and enter into discussions or negotiations with, third parties regarding alternative acquisition proposals. However, prior to receiving shareholder approval, the solicitation restrictions are subject to a customary “fiduciary-out” provision that allows the Company to provide information to, and engage in negotiations or discussions with, third parties with respect to a written acquisition proposal if the board of directors of the Company determines in good faith after consultation with its outside legal counsel that the failure to take such action would reasonably be expected to be inconsistent with the Board of Directors’ fiduciary duties under applicable law. The Merger Agreement contains certain termination rights for both the Company and Diodes, including the Company's ability to terminate the Merger Agreement in order to accept a superior proposal. In the event that the Merger Agreement is terminated, the Company may, under specified circumstances, be required to pay a termination fee of $15 million. The foregoing description of the Merger Agreement and the transactions contemplated thereby does not purport to be complete and is qualified in its entirety by reference to the Merger Agreement, a copy of which is attached as Exhibit 2.1 to the Current Report on Form 8-K filed by the Company on September 3, 2015. Additional information relating to the Merger Agreement is also included in that Current Report on Form 8-K, the Schedule 14A filed on September 17, 2015 and revised on October 13, 2015, the Current Report on Form 8-K filed on October 16, 2015 and in other filings the Company has made and will make with the SEC relating to the Merger Agreement. FISCAL PERIOD – For purposes of reporting the financial results, the Company’s fiscal years end on the Saturday closest to the end of June. The year ended June 27, 2015 is referred to as fiscal year 2015 or fiscal 2015, whereas the current fiscal year 2016 or fiscal 2016 will end on July 2, 2016. Fiscal 2015 contains 52 weeks or 364 days, whereas fiscal 2016 will include a 53 rd RECENTLY ISSUED ACCOUNTING STANDARDS In July 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2015-11, Simplifying the Measurement of Inventory . Under this ASU, inventory will be measured at the “lower of cost and net realizable value,” and options that currently exist for “market value” will be eliminated. The ASU defines net realizable value as “estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation.” No other changes were made to the current guidance on inventory measurement. ASU 2015-11 is effective for interim and annual periods beginning after December 15, 2016. Early application is permitted and should be applied prospectively. Management is evaluating the provisions of this statement, including which period to adopt, and has not determined what impact the adoption of ASU 2015-11 will have on the Company's financial position or results of operations. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers . ASU 2014-09 outlines a single comprehensive model for accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance. ASU 2014-09 requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 will be effective for annual and interim reporting periods beginning after December 15, 2017, although public companies may early adopt for annual and interim reporting periods beginning after December 15, 2016. The impact on the Company’s financial condition, results of operations and cash flows as a result of the adoption of ASU 2014-09 has not yet been determined.

Intangible Assets

Intangible Assets	3 Months Ended
	Sep. 26, 2015
Intangible Assets [Abstract]
INTANGIBLE ASSETS	2. INTANGIBLE ASSETS The following table summarizes the components of intangible assets and related accumulated amortization balances for each of the period-ending dates shown, which were recorded as a result of business combinations: September 26, 2015 June 27, 2015 Accumulated Accumulated (in thousands) Gross Amortization Net Gross Amortization Net Customer relationships $ 5,845 $ (4,968 ) $ 877 $ 6,008 $ (4,862 ) $ 1,146 Core developed technology 12,831 (10,836 ) 1,995 13,251 (10,726 ) 2,525 Total amortizable purchased intangible assets 18,676 (15,804 ) 2,872 19,259 (15,588 ) 3,671 SaRonix trade name 362 - 362 386 - 386 Total purchased intangible assets $ 19,038 $ (15,804 ) $ 3,234 $ 19,645 $ (15,588 ) $ 4,057 Amortization expense related to finite-lived purchased intangible assets was approximately $721,000 and $725,000 for the three month periods ended September 26, 2015 and September 27, 2014, respectively. The Company performs an impairment review of its intangible assets at least annually. Based on the results of its most recent impairment review, the Company determined that no impairment of its intangible assets existed as of September 26, 2015. However, future impairment reviews could result in a charge to earnings. The finite-lived purchased intangible assets consist of customer relationships and existing and core technology, which have remaining useful lives from one to two years. The Company expects future amortization expense associated with its intangible assets to be: Months from September 26, 2015 (in thousands) Next 12 13-24 Over 24 Months Months Months Total Customer relationships $ 877 $ - $ - $ 877 Core developed technology 1,744 251 - 1,995 Total $ 2,621 $ 251 $ - $ 2,872

Income Per Share

Income Per Share	3 Months Ended
	Sep. 26, 2015
Income Per Share [Abstract]
INCOME PER SHARE	3. INCOME PER SHARE Basic income per share is based upon the weighted average number of common shares outstanding. Diluted income per share reflects the additional potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. Basic and diluted income per share for the three month periods ended September 26, 2015 and September 27, 2014 are computed as follows: Three Months Ended September 26, September 27, (in thousands, except per share data) 2015 2014 Net income $ 3,559 $ 2,495 Computation of common shares outstanding – basic earnings per share: Weighted average shares of common stock 21,955 21,936 Basic earnings per share $ 0.16 $ 0.11 Computation of common shares outstanding – diluted earnings per share: Weighted average shares of common stock 21,955 21,936 Dilutive shares using the treasury stock method 568 326 Shares used in computing diluted earnings per share 22,523 22,262 Diluted earnings per share $ 0.16 $ 0.11 Options to purchase 340,000 and 1,256,000 shares of common stock, and restricted stock units of 29,000 and zero were outstanding during the three month periods ended September 26, 2015 and September 27, 2014 respectively, but are not included in the computation of diluted earnings per share because the options and units would be anti-dilutive under the treasury stock method.

Inventories

Inventories	3 Months Ended
	Sep. 26, 2015
Inventories [Abstract]
INVENTORIES	4. INVENTORIES Inventories consist of: September 26, June 27, (in thousands) 2015 2015 Raw materials $ 7,448 $ 6,249 Work in process 3,150 2,812 Finished goods 4,585 4,552 Total inventories $ 15,183 $ 13,613 The Company considers raw material inventory obsolete and reserves for it if the raw material has not been placed into production within 365 days. The Company reviews its assembled devices for excess and records a reserve if the quantity of assembled devices in inventory is in excess of the greater of the quantity shipped in the previous twelve months, the quantity in backlog or the quantity forecasted to be shipped in the following twelve months. In certain circumstances, management will determine, based on expected usage or other factors, that inventory considered excess by these guidelines should not be reserved. The Company does occasionally determine that the last twelve months’ sales levels will not continue and reserves inventory in line with the quantity forecasted. As of September 26, 2015 and June 27, 2015, the Company had reserved for $2.4 million and $2.8 million of inventory, respectively.

Accrued Liabilities

Accrued Liabilities	3 Months Ended
	Sep. 26, 2015
Accrued Liabilities [Abstract]
ACCRUED LIABILITIES	5. ACCRUED LIABILITIES Accrued liabilities consist of: September 26, June 27, (in thousands) 2015 2015 Accrued compensation $ 6,192 $ 6,489 Income taxes payable 2,207 2,280 Sales commissions 396 347 Other accrued expenses 1,347 2,309 Total accrued liabilities $ 10,142 $ 11,425

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Sep. 26, 2015
Commitments and Contingencies [Abstract]
COMMITMENTS AND CONTINGENCIES	6. COMMITMENTS AND CONTINGENCIES The Company’s future minimum commitments as of September 26, 2015 are as follows: Months from September 26, 2015 (in thousands) Less than 12-24 24-36 Over 36 48-60 Over 60 12 Months Months Months Months Months Months Total Operating lease payments $ 427 $ 315 $ 185 $ 8 $ 8 $ 2 $ 945 Capital equipment purchase commitments 11 - - - - - 11 Facility modification commitments 330 - - - - 330 Total $ 768 $ 315 $ 185 $ 8 $ 8 $ 2 $ 1,286 The operating lease commitments are primarily facility leases at certain of the Company’s Asian subsidiaries. The facility modification commitments have been made at the Company’s Shandong, China manufacturing operation for a general contractor and architecture firm to develop feasibility studies, plans and cost estimates for potential additional development of the plant site. Building permits have been applied for, and site preparation has begun. The Company has no other purchase obligations beyond routine purchase orders and the facility modifications shown in the table as of September 26, 2015.

Industry and Segment Informatio

Industry and Segment Information	3 Months Ended
	Sep. 26, 2015
Industry and Segment Information [Abstract]
INDUSTRY AND SEGMENT INFORMATION	7. INDUSTRY AND SEGMENT INFORMATION The Company has two operating segments which aggregate into one reportable segment, the interconnectivity device supply market. The Company designs, develops, manufactures and markets high performance integrated circuits and frequency control products. The following table indicates the percentage of the Company’s net revenues and accounts receivable in excess of 10 percent with any single customer: Net Revenues Three Months Ended September 26, September 27, 2015 2014 Customer A 19 % 12 % Customer B 16 % 29 % All others 65 % 59 % 100 % 100 % Accounts Receivable September 26, June 27, 2015 2015 Customer A 27 % 23 % Customer B 14 % 16 % All others 59 % 61 % 100 % 100 % For geographical reporting, the Company attributes net revenues to the country where customers are located (the “bill to” location). The Company neither conducts business in nor sells to persons in Iran, Syria or Sudan, countries located in referenced regions identified as state sponsors of terrorism by the U.S. Department of State and subject to U.S. economic sanctions and export controls. The following table sets forth net revenues by country for the three month periods ended September 26, 2015 and September 27, 2014: Net Revenues Three Months Ended September 26, September 27, 2015 2014 China (including Hong Kong) $ 14,847 $ 16,178 Taiwan 11,297 10,805 United States 1,078 1,462 Other (less than 10% each) 4,348 4,814 Total net revenues $ 31,570 $ 33,259 Long-lived assets consist of all non-monetary assets, excluding financial assets, deferred taxes and intangible assets. The Company attributes long-lived assets to the country where they are located. The following table sets forth the Company’s long-lived assets by country of location as of September 26, 2015 and June 27, 2015: September 26, June 27, 2015 2015 China (including Hong Kong) $ 29,866 $ 31,211 United States 14,178 14,392 Taiwan 10,349 10,974 Korea 1,349 1,024 Others (less than 10% each) 205 145 Total long-lived assets $ 55,947 $ 57,746

Stock Repurchase Program

Stock Repurchase Program	3 Months Ended
	Sep. 26, 2015
Stock Repurchase Program [Abstract]
STOCK REPURCHASE PROGRAM	8. STOCK REPURCHASE PROGRAM On April 24, 2014, the Board of Directors authorized a share repurchase program for $20 million of common stock. The Company may repurchase the shares from time to time in open market or private transactions, at the discretion of the Company’s management. During the three month period ended September 26, 2015, the Company repurchased 464,957 shares for an aggregate cost of approximately $5.8 million. During the three month period ended September 27, 2014, the Company repurchased 250,547 shares for an aggregate cost of approximately $2.3 million. Current cash balances and the proceeds from stock option exercises and purchases in the employee stock purchase plan have funded stock repurchases in the past. As of September 26, 2015, the Company had approximately $10.0 million of repurchase authority remaining under the 2014 share repurchase program. Due to the pending acquisition of the Company, no future share repurchases are scheduled.

Shareholders' Equity and Share-

Shareholders' Equity and Share-Based Compensation	3 Months Ended
	Sep. 26, 2015
Shareholders' Equity and Share-Based Compensation [Abstract]
SHAREHOLDERS' EQUITY AND SHARE-BASED COMPENSATION	9. SHAREHOLDERS’ EQUITY AND SHARE-BASED COMPENSATION PREFERRED STOCK The Company’s shareholders have authorized the Board of Directors to issue 5,000,000 shares of currently undesignated preferred stock from time to time in one or more series and to fix the rights, privileges and restrictions of each series. As of September 26, 2015, the Company has issued no shares of preferred stock. STOCK OPTION PLANS As of September 26, 2015 the Company had three stock incentive plans and one employee stock purchase plan, including the 2001 Stock Option Plan, 2004 Stock Incentive Plan, 2014 Stock Award and Incentive Compensation Plan (collectively, the “Plans”) and the 2010 Employee Stock Purchase Plan (“ESPP”). Under the Plans, the Company has reserved an aggregate of 6.2 million shares of common stock as of September 26, 2015 for issuance to employees, officers, directors, independent contractors and consultants of the Company in the form of incentive or nonqualified stock options, or grants of restricted or performance stock units. The Company may grant stock options at the fair value on the grant date for incentive stock options and nonqualified stock options. Options vest over periods of generally 48 months as determined by the Board of Directors. Options granted under the Plans expire 10 years from the grant date. The Company estimates the fair value of each employee stock option on the date of grant using the Black-Scholes option valuation model and expenses that value as compensation using a straight-line method over the option’s vesting period, which corresponds to the requisite employee service period. The Company estimates expected stock price volatility based on actual historical volatility for periods that the Company believes represent predictors of future volatility. The Company uses historical data to estimate option exercises, expected option holding periods and option forfeitures. The Company bases the risk-free interest rate for periods within the contractual life of the option on the U.S. Treasury yield corresponding to the expected life of the underlying option. The Company’s did not grant any stock options under its Plans during the three month periods ended September 26, 2015 or September 27, 2014. The following table summarizes the Company’s stock option activity for the three months ended September 26, 2015: Weighted Average Weighted Remaining Aggregate Average Contractual Intrinsic Shares Exercise Term Value (in thousands) Price (years) (in thousand) Options outstanding as of June 27, 2015 1,249 $ 10.92 4.67 $ 4,501 Granted - - Exercised (14 ) 11.19 Cancelled or expired - - Options outstanding as of September 26, 2015 1,235 $ 10.92 4.44 $ 7,872 Options vested and expected to vest as of September 26, 2015 1,222 $ 10.95 4.40 $ 7,759 Options exercisable as of September 26, 2015 1,050 $ 11.29 3.76 $ 6,302 As of September 26, 2015, 2.9 million shares were available for future grants under the incentive plans. The aggregate intrinsic value of options exercised during the three months ended September 26, 2015 was $78,000. As of September 26, 2015, expected future compensation expense relating to options outstanding is $626,000, which will be amortized to expense over a weighted average period of 2.0 years. Additional information regarding options outstanding and exercisable as of September 26, 2015 is as follows: Options Outstanding Exercisable Options Weighted Number Average Weighted Number Weighted Outstanding as Remaining Average Exercisable as Average Range of Exercise of September Contractual Exercise of September Exercise Prices 26, 2015 Term Price 26, 2015 Price $ 5.48 $ 8.10 249,000 6.77 $ 7.65 158,000 $ 7.62 8.11 8.85 261,000 4.50 8.56 231,000 8.54 8.86 10.25 254,000 4.84 9.83 211,000 9.96 10.26 15.45 305,000 3.39 13.56 284,000 13.61 15.46 18.10 166,000 2.14 16.36 166,000 16.36 $ 5.48 $ 18.10 1,235,000 4.44 $ 10.92 1,050,000 $ 11.29 Restricted Stock Units and Performance Stock Units Restricted stock units (“RSUs”) and performance stock units (“PSUs”) are converted into shares of the Company’s common stock upon vesting on a one-for-one basis. Typically, vesting of RSUs and PSUs is subject to the employee’s continuing service to the Company. RSUs generally vest over a period of 4 years and are expensed ratably on a straight-line basis over their respective vesting period net of estimated forfeitures. PSUs are granted to executives of the Company and will vest in approximately 12 months subject to the achievement of certain financial metrics of the Company as well as each participant’s performance goals established at the beginning of the fiscal year. The fair value of RSUs and PSUs granted pursuant to the Company’s 2014 Stock Incentive Plan is the product of the number of shares granted and the grant date fair value of the common stock. A summary of activity of RSUs and PSUs for the three months ended September 26, 2015 is presented below: Weighted Weighted Average Aggregate Average Remaining Intrinsic Award Contractual Value Shares Date Fair Term (in (in thousands) Value (years) thousands) RSUs and PSUs outstanding as of June 27, 2015 769 $ 9.76 1.33 $ 10,792 Awarded 334 14.64 Released (174 ) 9.17 Forfeited (3 ) 10.66 RSUs and PSUs outstanding as of September 26, 2015 926 $ 11.63 1.54 $ 15,990 RSUs and PSUs expected to vest after September 26, 2015 790 $ 11.41 1.40 $ 13,653 Of the 334,000 shares awarded during the three months ended September 26, 2015, 235,000 shares were RSUs while the remaining shares awarded were PSUs. As of September 26, 2015, expected future compensation expense relating to RSUs and PSUs is $7.2 million, which will be amortized to expense over a weighted average remaining recognition period of 2.6 years. 2010 EMPLOYEE STOCK PURCHASE PLAN The Company’s ESPP allows eligible employees of the Company to purchase shares of common stock through payroll deductions. The Company reserved 2.0 million shares of the Company’s common stock for issuance under this Plan, of which 1.5 million remain available at September 26, 2015. The ESPP permits eligible employees to purchase common stock at a discount through payroll deductions during six-month purchase periods. The six-month periods come to an end on or about May 1 and November 1 and the purchases are then made. Thus there were no purchases under the ESPP for the three month periods ended September 26, 2015 and September 27, 2014. Participants in the ESPP may purchase stock at 85% of the lower of the stock’s fair market value on the first day and last day of the offering period. The maximum number of shares of Common Stock that any employee may purchase during any offering period under the plan is 1,500 shares, and an employee may not accrue more than $15,000 for share purchases in any offering period. The Company estimates the fair value of stock purchase rights granted under the Company’s ESPP on the date of grant using the Black-Scholes option valuation model. Accounting Standards Codification (“ASC“) Topic 718, Compensation – Stock Compensation, states that a “lookback” pricing provision with a share limit should be considered a combination of stock and a call option. The valuation results for these elements have been combined to value the specific features of the stock purchase rights. The Company bases volatility on the expected volatility of the Company’s stock during the offering period. The expected term is determined by the time from enrollment until purchase, and the Company uses the U.S. Treasury yield for the risk-free interest rate for the offering period. At September 26, 2015, the Company had $19,000 in unamortized share-based compensation related to its ESPP which will be amortized and recognized in the consolidated statement of operations over the next month. SHARE-BASED COMPENSATION The following table shows total share-based compensation expense classified by Consolidated Statements of Operations reporting caption for the three month periods ended September 26, 2015 and September 27, 2014 generated from the plans described above: Three Months Ended September 26, September 27, (in thousands) 2015 2014 Cost of goods sold $ 63 $ 33 Research and development 287 218 Selling, general and administrative 610 458 Pre-tax share-based compensation expense 960 709 Income tax impact 321 230 Net share-based compensation expense $ 639 $ 479 The amount of share-based compensation expense capitalized in inventory as of September 26, 2015 and June 27, 2015 is immaterial.

Income Taxes

Income Taxes	3 Months Ended
	Sep. 26, 2015
Income Taxes [Abstract]
INCOME TAXES	10. INCOME TAXES Income Tax Expense Income tax expense for the three month periods ended September 26, 2015 and September 27, 2014 was $535,000 and $1.0 million, respectively, and was comprised of domestic federal and state income tax and foreign income tax. The effective tax rate for the three months ended September 26, 2015 was 13%, which resulted from the allocation of earnings between different tax jurisdictions and the inability to utilize losses in certain non-includable entities. The effective tax rate for the three months ended September 27, 2014 was 29%. As of September 26, 2015 and June 27, 2015, the Company has recorded a valuation allowance of $4.4 million against its deferred tax assets. The Company’s effective tax rate may differ from the federal statutory rate primarily due to the permanent differences related to the benefit of foreign rate differentials, income inclusions under Subpart F tax rules, and non-deductible share-based compensation from equity grants. Accounting for Uncertainty in Income Taxes The Company’s total amount of unrecognized tax benefits as of September 26, 2015 was $2.3 million. Of this amount, $1.1 million would affect the Company’s effective tax rate if recognized. In addition, as of September 26, 2015 the Company had accrued $240,000 for any interest and penalties related to unrecognized tax benefits. The Company is subject to examination by federal, foreign, and various state jurisdictions for the years 2009 through 2015.

Investment in Unconsolidated Af

Investment in Unconsolidated Affiliate	3 Months Ended
	Sep. 26, 2015
Investments in Unconsolidated Affiliate [Abstract]
INVESTMENT IN UNCONSOLIDATED AFFILIATE	11. INVESTMENT IN UNCONSOLIDATED AFFILIATE The Company’s investment in an unconsolidated affiliate is as follows: September 26, June 27, (in thousands) 2015 2015 Jiyuan Crystal Photoelectric Frequency Technology Ltd. $ 2,289 $ 2,311 PSE-TW has a 49% equity interest in Jiyuan Crystal Photoelectric Frequency Technology Ltd. (“JCP”), an FCP manufacturing company located in Science Park of Jiyuan City, Henan Province, China. JCP is a key manufacturing partner of PSE-TW and supplies PSE-TW with blanks for its surface mount device (“SMD”) production lines. For the first three months of fiscal 2016 and 2015, the Company’s allocated portion of JCP’s results was income of $26,000 and $39,000, respectively.

Equity and Comprehensive Income

Equity and Comprehensive Income (Loss)	3 Months Ended
	Sep. 26, 2015
Equity and Comprehensive Income (Loss) [Abstract]
EQUITY AND COMPREHENSIVE INCOME (LOSS)	12. EQUITY AND COMPREHENSIVE INCOME (LOSS) Comprehensive income (loss) consists of net income, changes in net unrealized gains or losses on available-for-sale investments and changes in cumulative currency translation adjustments at consolidated subsidiaries. As of September 26, 2015, accumulated other comprehensive income of $4.1 million consists of $4.2 million of accumulated currency translation gains and $127,000 of net unrealized losses on available-for-sale investments, which was recorded net of a $2,000 tax benefit. As of June 27, 2015, accumulated other comprehensive income of $9.0 million was made up of $9.0 million of accumulated currency translation gains and $21,000 of net unrealized gains on available-for-sale investments, which was recorded net of a $2,000 tax benefit.

Dividends

Dividends	3 Months Ended
	Sep. 26, 2015
Dividends [Abstract]
DIVIDENDS	13. DIVIDENDS On July 28, 2015, the Company’s Board of Directors declared a cash dividend of $0.06 per share of common stock. The aggregate payment of approximately $1.3 million was made on September 3, 2015 to shareholders of record as of August 20, 2015.

Short-Term Debt

Short-Term Debt	3 Months Ended
	Sep. 26, 2015
Short-Term Debt [Abstract]
SHORT-TERM DEBT	14. SHORT-TERM DEBT As of September 26, 2015 and June 27, 2015, the Company has no outstanding debt. However, the Company’s subsidiary PSE-TW has three loan and credit facilities in place for equipment purchases or inventory financing via short term loans, letters of credit, and trade financing. The first is an unsecured facility for $100 million New Taiwan Dollars (“NTD”), or approximately U.S. $3.0 million. Loans under this facility are limited to $70 million NTD (U.S. $2.1 million), are for up to 180 days, and are based on the Taiwan Interbank Offered Rate (“TAIBOR”) plus 1.25% and may be in NTD, USD, Japanese yen (“JPY”) or other currencies. The second is an unsecured facility for $80 million NTD (U.S. $2.4 million). Loans under this facility are limited to $60 million NTD (U.S. $1.8 million), are for up to 180 days, with the interest rate determined on a case by case basis, and may be in NTD, USD, or JPY. The third is a secured facility for up to either $200 million NTD or $6.0 million USD. The loans are for up to 180 days, and may be in NTD, USD, JPY or other currencies, with the interest rate based on a spread over various benchmark rates depending upon the currency. PSE-TW has pledged $4.0 million in land and buildings as collateral for the secured loan and credit facility.

Industrial Development Subsidy

Industrial Development Subsidy	3 Months Ended
	Sep. 26, 2015
Industrial Development Subsidy [Abstract]
INDUSTRIAL DEVELOPMENT SUBSIDY	15. INDUSTRIAL DEVELOPMENT SUBSIDY As of September 26, 2015, industrial development subsidies in the amount of $11.6 million have been earned and applied for by PSE-SD from the Jinan Hi-Tech Industries Development Zone Commission based on meeting certain pre-defined criteria. The subsidies may be used for the acquisition of assets or to cover business expenses. When a subsidy is used to acquire assets, the subsidy will be amortized over the useful life of the asset. When a subsidy is used for expenses incurred, the subsidy is regarded as earned upon the incurrence of the expenditure. The remaining balance of the subsidies as of September 26, 2015 was $5.0 million, which is expected to be recognized over the next five to seven years. The Company recognized $186,000 and $188,000 of industrial development subsidy as a reduction of cost of goods sold and $42,000 and $47,000 of industrial development subsidy as a reduction of operating expenses in the consolidated statements of operations for the three month periods ended September 26, 2015 and September 27, 2014, respectively.

Investments in Marketable Secur

Investments in Marketable Securities	3 Months Ended
	Sep. 26, 2015
Investments In Marketable Securities [Abstract]
INVESTMENTS IN MARKETABLE SECURITIES	16. INVESTMENTS IN MARKETABLE SECURITIES The Company’s policy is to invest in instruments with investment grade credit ratings. The Company classifies its short-term investments as “available-for-sale” securities and the Company bases the cost of securities sold using the specific identification method. The Company accounts for unrealized gains and losses on its available-for-sale securities as a separate component of shareholders’ equity in the consolidated balance sheets in the period in which the unrealized gain or loss occurs. As of September 26, 2015, a summary of investments by major security type is as follows: As of September 26, 2015 Net Unrealized Amortized Unrealized Unrealized Gains (in thousands) Cost Gains Losses (Losses) Fair Value Available-for-Sale Securities Time deposits $ 19,264 $ - $ - $ - $ 19,264 Repurchase agreements - - - - - National government and agency securities 3,180 61 - 61 3,241 State and municipal bond obligations 5,201 50 (9 ) 41 5,242 Corporate bonds and notes 39,386 76 (274 ) (198 ) 39,188 Asset backed securities 7,634 12 (27 ) (15 ) 7,619 Mortgage backed securities 4,419 2 (17 ) (15 ) 4,404 Total $ 79,084 $ 201 $ (327 ) $ (126 ) $ 78,958 As of June 27, 2015 a summary of investments by major security type is as follows: As of June 27, 2015 Net Unrealized Amortized Unrealized Unrealized Gains (in thousands) Cost Gains Losses (Losses) Fair Value Available-for-Sale Securities Time deposits $ 22,157 $ - $ - $ - $ 22,157 National government and agency securities 4,612 64 (3 ) 61 4,673 State and municipal bond obligations 4,488 13 (11 ) 2 4,490 Corporate bonds and notes 46,889 168 (200 ) (32 ) 46,857 Asset backed securities 6,994 12 (20 ) (8 ) 6,986 Mortgage backed securities 5,143 11 (13 ) (2 ) 5,141 Total $ 90,283 $ 268 $ (247 ) $ 21 $ 90,304 The above investments are included in short-term investments in marketable securities on the Company’s condensed consolidated balance sheets. The following tables show the unrealized losses and fair market values of the Company’s investments that have unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, as of September 26, 2015 and June 27, 2015: Continuous Unrealized Losses at September 26, 2015 Less Than 12 Months 12 Months or Longer Total Unrealized Unrealized Unrealized (in thousands) Fair Value Losses Fair Value Losses Fair Value Losses National government and agency securities $ - $ - $ - $ - $ - $ - State and municipal bond obligations 593 6 607 3 1,200 9 Corporate bonds and notes 18,266 239 1,758 35 20,024 274 Asset backed securities 2,404 12 424 15 2,828 27 Mortgage backed securities 3,200 17 - - 3,200 17 Total $ 24,463 $ 274 $ 2,789 $ 53 $ 27,252 $ 327 Continuous Unrealized Losses at June 27, 2015 Less Than 12 Months 12 Months or Longer Total Unrealized Unrealized Unrealized (in thousands) Fair Value Losses Fair Value Losses Fair Value Losses National government and agency securities $ 1,411 $ 3 $ 190 $ - $ 1,601 $ 3 State and municipal bond obligations 928 4 1,077 7 2,005 11 Corporate bonds and notes 20,621 188 2,893 12 23,514 200 Asset backed securities 1,961 16 1,061 4 3,022 20 Mortgage backed securities 2,023 12 336 1 2,359 13 $ 26,944 $ 223 $ 5,557 $ 24 $ 32,501 $ 247 The unrealized losses are of a temporary nature due to the Company’s intent and ability to hold the investments until maturity or until the cost is recoverable. The unrealized losses are primarily due to fluctuations in market interest rates. The Company reports unrealized gains and losses on its “available-for-sale” securities in accumulated other comprehensive income in shareholders’ equity. The Company records gains or losses realized on sales of available-for-sale securities in interest and other income, net on its condensed consolidated statements of operations. The cost of securities sold is based on the specific identification of the security and its amortized cost. For the three month periods ended September 26, 2015 and September 27, 2014, proceeds from sales and maturities of available-for-sale securities were $20.8 million and $15.3 million, respectively, and realized losses were $37,000 and $6,000, respectively. The following table lists the fair market value of the Company’s short-term investments by length of time to maturity as of September 26, 2015. Securities with maturities over multiple dates are mortgage-backed (“MBS”) or asset-backed securities (“ABS”) featuring periodic principle paydowns through 2042. September 26, (in thousands) 2015 Contractual Maturities Less than 12 months $ 21,985 One to three years 35,128 Over three years 16,699 Multiple dates 5,146 Total $ 78,958

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Sep. 26, 2015
Fair Value Measurements [Abstract]
FAIR VALUE MEASUREMENTS	17. FAIR VALUE MEASUREMENTS The Company defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The standard describes a fair value hierarchy based on three levels of inputs that may be used to measure fair value, of which the first two are considered observable and the last is considered unobservable: ● Level 1 - Quoted prices in active markets for identical assets or liabilities. ● Level 2 - Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. ● Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The following table represents the Company’s fair value hierarchy for financial assets measured at fair value on a recurring basis. All of the investments are classified as Level 2 as of September 26, 2015. Level 2 pricing is provided by third party sources of market information obtained through the Company’s investment advisors. The Company does not adjust for or apply any additional assumptions or estimates to the pricing information it receives from advisors. The Company’s investment advisors obtain pricing data from independent sources, such as Standard & Poor’s, Bloomberg and Interactive Data Corporation, and rely on comparable pricing of other securities because the Level 2 securities it holds are not actively traded and have fewer observable transactions. The Company considers this the most reliable information available for the valuation of the securities. The Company’s Level 2 securities include time deposits, government securities, corporate debt securities and mortgage-backed and asset-backed securities. The securities must meet a required rating level by at least one of the rating agencies (Moody’s, Standard & Poor’s, Fitch). Government securities include US federal agency securities, foreign government and agency securities, and US state and municipal bond obligations. Many of the municipal bonds are insured; those that are not are nearly all AAA/Aaa rated. The corporate debt securities are all investment grade and most are single A-rated or better. The asset-backed securities are AAA/Aaa rated and are backed by auto loans, student loans, credit card balances and residential or commercial mortgages. As of September 26, 2015 (in thousands) Fair Value Level 1 Level 2 Level 3 Investments Time deposits $ 40,062 $ - $ 40,062 $ - Repurchase Agreements 754 - 754 - National government and agency securities 3,241 - 3,241 - State and municipal bond obligations 5,242 - 5,242 - Corporate bonds and notes 39,188 - 39,188 - Asset backed securities 7,619 - 7,619 - Mortgage backed securities 4,404 - 4,404 - Total $ 100,510 $ - $ 100,510 $ - (1) $20,798,000 of the time deposits and $754,000 of the repurchase agreements are included in cash and cash equivalents; the balance of the investments are included in short-term investments in marketable securities on our consolidated balance sheet. The Company had no transfers into or out of Level 2 during the three months ended September 26, 2015. When assessing marketable securities for other-than-temporary declines in value, a number of factors are considered. Analyses of the severity and duration of price declines, remaining years to maturity, portfolio manager reports, economic forecasts, and the specific circumstances of issuers indicate that it is reasonable to expect marketable securities with unrealized losses as of September 26, 2015 to recover in fair value up to the Company’s cost bases within a reasonable period of time. The Company does not intend to sell investments with unrealized losses before maturity, when the obligors are required to redeem them at full face value or par. The Company believes the obligors have the financial resources to redeem the debt securities. Accordingly, the Company does not consider the investments to be other-than-temporarily impaired as of September 26, 2015. The Company has determined that the amounts reported for cash and cash equivalents, accounts receivable, deposits, accounts payable and accrued liabilities approximate fair value because of their short maturities and/or variable interest rates.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Sep. 26, 2015
Basis of Presentation [Abstract]
FISCAL PERIOD	FISCAL PERIOD – For purposes of reporting the financial results, the Company’s fiscal years end on the Saturday closest to the end of June. The year ended June 27, 2015 is referred to as fiscal year 2015 or fiscal 2015, whereas the current fiscal year 2016 or fiscal 2016 will end on July 2, 2016. Fiscal 2015 contains 52 weeks or 364 days, whereas fiscal 2016 will include a 53 rd
RECENTLY ISSUED ACCOUNTING STANDARDS	RECENTLY ISSUED ACCOUNTING STANDARDS In July 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2015-11, Simplifying the Measurement of Inventory . Under this ASU, inventory will be measured at the “lower of cost and net realizable value,” and options that currently exist for “market value” will be eliminated. The ASU defines net realizable value as “estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation.” No other changes were made to the current guidance on inventory measurement. ASU 2015-11 is effective for interim and annual periods beginning after December 15, 2016. Early application is permitted and should be applied prospectively. Management is evaluating the provisions of this statement, including which period to adopt, and has not determined what impact the adoption of ASU 2015-11 will have on the Company's financial position or results of operations. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers . ASU 2014-09 outlines a single comprehensive model for accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance. ASU 2014-09 requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU 2014-09 will be effective for annual and interim reporting periods beginning after December 15, 2017, although public companies may early adopt for annual and interim reporting periods beginning after December 15, 2016. The impact on the Company’s financial condition, results of operations and cash flows as a result of the adoption of ASU 2014-09 has not yet been determined.

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Sep. 26, 2015
Intangible Assets [Abstract]
Summary of components intangible assets and related accumulated amortization as result of business combinations	September 26, 2015 June 27, 2015 Accumulated Accumulated (in thousands) Gross Amortization Net Gross Amortization Net Customer relationships $ 5,845 $ (4,968 ) $ 877 $ 6,008 $ (4,862 ) $ 1,146 Core developed technology 12,831 (10,836 ) 1,995 13,251 (10,726 ) 2,525 Total amortizable purchased intangible assets 18,676 (15,804 ) 2,872 19,259 (15,588 ) 3,671 SaRonix trade name 362 - 362 386 - 386 Total purchased intangible assets $ 19,038 $ (15,804 ) $ 3,234 $ 19,645 $ (15,588 ) $ 4,057
Summary of future amortization expense associated with intangible assets	Months from September 26, 2015 (in thousands) Next 12 13-24 Over 24 Months Months Months Total Customer relationships $ 877 $ - $ - $ 877 Core developed technology 1,744 251 - 1,995 Total $ 2,621 $ 251 $ - $ 2,872

Income Per Share (Tables)

Income Per Share (Tables)	3 Months Ended
	Sep. 26, 2015
Income Per Share [Abstract]
Computation of basic and diluted income per share	Three Months Ended September 26, September 27, (in thousands, except per share data) 2015 2014 Net income $ 3,559 $ 2,495 Computation of common shares outstanding – basic earnings per share: Weighted average shares of common stock 21,955 21,936 Basic earnings per share $ 0.16 $ 0.11 Computation of common shares outstanding – diluted earnings per share: Weighted average shares of common stock 21,955 21,936 Dilutive shares using the treasury stock method 568 326 Shares used in computing diluted earnings per share 22,523 22,262 Diluted earnings per share $ 0.16 $ 0.11

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Sep. 26, 2015
Inventories [Abstract]
Summary of Inventories	September 26, June 27, (in thousands) 2015 2015 Raw materials $ 7,448 $ 6,249 Work in process 3,150 2,812 Finished goods 4,585 4,552 Total inventories $ 15,183 $ 13,613

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	3 Months Ended
	Sep. 26, 2015
Accrued Liabilities [Abstract]
Schedule of accrued liabilities	September 26, June 27, (in thousands) 2015 2015 Accrued compensation $ 6,192 $ 6,489 Income taxes payable 2,207 2,280 Sales commissions 396 347 Other accrued expenses 1,347 2,309 Total accrued liabilities $ 10,142 $ 11,425

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Sep. 26, 2015
Commitments and Contingencies [Abstract]
Schedule of future minimum commitments	Months from September 26, 2015 (in thousands) Less than 12-24 24-36 Over 36 48-60 Over 60 12 Months Months Months Months Months Months Total Operating lease payments $ 427 $ 315 $ 185 $ 8 $ 8 $ 2 $ 945 Capital equipment purchase commitments 11 - - - - - 11 Facility modification commitments 330 - - - - 330 Total $ 768 $ 315 $ 185 $ 8 $ 8 $ 2 $ 1,286

Industry and Segment Informat30

Industry and Segment Information (Tables)	3 Months Ended
	Sep. 26, 2015
Industry and Segment Information [Abstract]
Summary of net revenues and accounts receivable in excess of 10 percent with any single customer	Net Revenues Three Months Ended September 26, September 27, 2015 2014 Customer A 19 % 12 % Customer B 16 % 29 % All others 65 % 59 % 100 % 100 % Accounts Receivable September 26, June 27, 2015 2015 Customer A 27 % 23 % Customer B 14 % 16 % All others 59 % 61 % 100 % 100 %
Schedule of net revenues and net book value of long-lived assets by geographical segment	Net Revenues Three Months Ended September 26, September 27, 2015 2014 China (including Hong Kong) $ 14,847 $ 16,178 Taiwan 11,297 10,805 United States 1,078 1,462 Other (less than 10% each) 4,348 4,814 Total net revenues $ 31,570 $ 33, September 26, June 27, 2015 2015 China (including Hong Kong) $ 29,866 $ 31,211 United States 14,178 14,392 Taiwan 10,349 10,974 Korea 1,349 1,024 Others (less than 10% each) 205 145 Total long-lived assets $ 55,947 $ 57,746

Shareholders' Equity and Shar31

Shareholders' Equity and Share-Based Compensation (Tables)	3 Months Ended
	Sep. 26, 2015
Shareholders' Equity and Share-Based Compensation [Abstract]
Schedule of stock option activity	Weighted Average Weighted Remaining Aggregate Average Contractual Intrinsic Shares Exercise Term Value (in thousands) Price (years) (in thousand) Options outstanding as of June 27, 2015 1,249 $ 10.92 4.67 $ 4,501 Granted - - Exercised (14 ) 11.19 Cancelled or expired - - Options outstanding as of September 26, 2015 1,235 $ 10.92 4.44 $ 7,872 Options vested and expected to vest as of September 26, 2015 1,222 $ 10.95 4.40 $ 7,759 Options exercisable as of September 26, 2015 1,050 $ 11.29 3.76 $ 6,302
Schedule of options outstanding and exercisable	Options Outstanding Exercisable Options Weighted Number Average Weighted Number Weighted Outstanding as Remaining Average Exercisable as Average Range of Exercise of September Contractual Exercise of September Exercise Prices 26, 2015 Term Price 26, 2015 Price $ 5.48 $ 8.10 249,000 6.77 $ 7.65 158,000 $ 7.62 8.11 8.85 261,000 4.50 8.56 231,000 8.54 8.86 10.25 254,000 4.84 9.83 211,000 9.96 10.26 15.45 305,000 3.39 13.56 284,000 13.61 15.46 18.10 166,000 2.14 16.36 166,000 16.36 $ 5.48 $ 18.10 1,235,000 4.44 $ 10.92 1,050,000 $ 11.29
Summary of activity of restricted stock units (RSUs)	Weighted Weighted Average Aggregate Average Remaining Intrinsic Award Contractual Value Shares Date Fair Term (in (in thousands) Value (years) thousands) RSUs and PSUs outstanding as of June 27, 2015 769 $ 9.76 1.33 $ 10,792 Awarded 334 14.64 Released (174 ) 9.17 Forfeited (3 ) 10.66 RSUs and PSUs outstanding as of September 26, 2015 926 $ 11.63 1.54 $ 15,990 RSUs and PSUs expected to vest after September 26, 2015 790 $ 11.41 1.40 $ 13,653
Summary of share based compensation expenses classified by consolidated statement of operations	Three Months Ended September 26, September 27, (in thousands) 2015 2014 Cost of goods sold $ 63 $ 33 Research and development 287 218 Selling, general and administrative 610 458 Pre-tax share-based compensation expense 960 709 Income tax impact 321 230 Net share-based compensation expense $ 639 $ 479

Investment in Unconsolidated 32

Investment in Unconsolidated Affiliate (Tables)	3 Months Ended
	Sep. 26, 2015
Investments in Unconsolidated Affiliate [Abstract]
Investment in unconsolidated affiliate	September 26, June 27, (in thousands) 2015 2015 Jiyuan Crystal Photoelectric Frequency Technology Ltd. $ 2,289 $ 2,311

Investments in Marketable Sec33

Investments in Marketable Securities (Tables)	3 Months Ended
	Sep. 26, 2015
Investments In Marketable Securities [Abstract]
Summary of investments by major security type	As of September 26, 2015 Net Unrealized Amortized Unrealized Unrealized Gains (in thousands) Cost Gains Losses (Losses) Fair Value Available-for-Sale Securities Time deposits $ 19,264 $ - $ - $ - $ 19,264 Repurchase agreements - - - - - National government and agency securities 3,180 61 - 61 3,241 State and municipal bond obligations 5,201 50 (9 ) 41 5,242 Corporate bonds and notes 39,386 76 (274 ) (198 ) 39,188 Asset backed securities 7,634 12 (27 ) (15 ) 7,619 Mortgage backed securities 4,419 2 (17 ) (15 ) 4,404 Total $ 79,084 $ 201 $ (327 ) $ (126 ) $ 78,958 As of June 27, 2015 Net Unrealized Amortized Unrealized Unrealized Gains (in thousands) Cost Gains Losses (Losses) Fair Value Available-for-Sale Securities Time deposits $ 22,157 $ - $ - $ - $ 22,157 National government and agency securities 4,612 64 (3 ) 61 4,673 State and municipal bond obligations 4,488 13 (11 ) 2 4,490 Corporate bonds and notes 46,889 168 (200 ) (32 ) 46,857 Asset backed securities 6,994 12 (20 ) (8 ) 6,986 Mortgage backed securities 5,143 11 (13 ) (2 ) 5,141 Total $ 90,283 $ 268 $ (247 ) $ 21 $ 90,304
Gross unrealized losses and fair market values of the Company's investments	Continuous Unrealized Losses at September 26, 2015 Less Than 12 Months 12 Months or Longer Total Unrealized Unrealized Unrealized (in thousands) Fair Value Losses Fair Value Losses Fair Value Losses National government and agency securities $ - $ - $ - $ - $ - $ - State and municipal bond obligations 593 6 607 3 1,200 9 Corporate bonds and notes 18,266 239 1,758 35 20,024 274 Asset backed securities 2,404 12 424 15 2,828 27 Mortgage backed securities 3,200 17 - - 3,200 17 Total $ 24,463 $ 274 $ 2,789 $ 53 $ 27,252 $ 327 Continuous Unrealized Losses at June 27, 2015 Less Than 12 Months 12 Months or Longer Total Unrealized Unrealized Unrealized (in thousands) Fair Value Losses Fair Value Losses Fair Value Losses National government and agency securities $ 1,411 $ 3 $ 190 $ - $ 1,601 $ 3 State and municipal bond obligations 928 4 1,077 7 2,005 11 Corporate bonds and notes 20,621 188 2,893 12 23,514 200 Asset backed securities 1,961 16 1,061 4 3,022 20 Mortgage backed securities 2,023 12 336 1 2,359 13 $ 26,944 $ 223 $ 5,557 $ 24 $ 32,501 $ 247
Fair market value of short and long-term investments	September 26, (in thousands) 2015 Contractual Maturities Less than 12 months $ 21,985 One to three years 35,128 Over three years 16,699 Multiple dates 5,146 Total $ 78,958

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Sep. 26, 2015
Fair Value Measurements [Abstract]
Fair value measurement	As of September 26, 2015 (in thousands) Fair Value Level 1 Level 2 Level 3 Investments Time deposits $ 40,062 $ - $ 40,062 $ - Repurchase Agreements 754 - 754 - National government and agency securities 3,241 - 3,241 - State and municipal bond obligations 5,242 - 5,242 - Corporate bonds and notes 39,188 - 39,188 - Asset backed securities 7,619 - 7,619 - Mortgage backed securities 4,404 - 4,404 - Total $ 100,510 $ - $ 100,510 $ -

Basis of Presentation (Details)

Basis of Presentation (Details)	3 Months Ended
	Sep. 26, 2015USD ($)
Basis of Presentation [Textual]
Converted amount	$ 17
Termination fee	$ 15,000,000

Intangible Assets (Details)

Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 26, 2015	Jun. 27, 2015
Summary of components of other intangible assets and related accumulated amortization as part of business combinations
Finite lived intangible assets, Gross	$ 18,676	$ 19,259
Finite lived intangible assets, Accumulated Amortization	(15,804)	(15,588)
Total	2,872	3,671
Purchased intangible assets, Gross	19,038	19,645
Purchased intangible assets, Accumulated Amortization	(15,804)	(15,588)
Purchased intangible assets, Net	3,234	4,057
Customer relationships [Member]
Summary of components of other intangible assets and related accumulated amortization as part of business combinations
Finite lived intangible assets, Gross	5,845	6,008
Finite lived intangible assets, Accumulated Amortization	(4,968)	(4,862)
Total	877	1,146
Core developed technology [Member]
Summary of components of other intangible assets and related accumulated amortization as part of business combinations
Finite lived intangible assets, Gross	12,831	13,251
Finite lived intangible assets, Accumulated Amortization	(10,836)	(10,726)
Total	1,995	2,525
SaRonix trade name [Member]
Summary of components of other intangible assets and related accumulated amortization as part of business combinations
Indefinite lived intangible assets, Gross	$ 362	$ 386
Indefinite lived intangible assets, Accumulated Amortization
Indefinite lived intangible assets, Net	$ 362	$ 386

Intangible Assets (Details 1)

Intangible Assets (Details 1) - USD ($) $ in Thousands	Sep. 26, 2015	Jun. 27, 2015
Summary of future amortization expense associated with intangible assets
Next 12 Months	$ 2,621
13-24 Months	$ 251
25-36 Months
Over 36 Months
Total	$ 2,872	$ 3,671
Customer relationships [Member]
Summary of future amortization expense associated with intangible assets
Next 12 Months	$ 877
13-24 Months
25-36 Months
Over 36 Months
Total	$ 877	1,146
Core developed technology [Member]
Summary of future amortization expense associated with intangible assets
Next 12 Months	1,744
13-24 Months	$ 251
25-36 Months
Over 36 Months
Total	$ 1,995	$ 2,525

Intangible Assets (Details Text

Intangible Assets (Details Textual) - USD ($)	3 Months Ended
	Sep. 26, 2015	Sep. 27, 2014
Intangible Assets (Textual)
Amortization expense related to finite-lived purchased intangible assets	$ 721,000	$ 725,000
Impairment of intangible assets	$ 0
Customer Relationships [Member] | Minimum [Member]
Intangible Assets (Textual)
Finite lived intangible assets weighted average useful lives	1 year
Customer Relationships [Member] | Maximum [Member]
Intangible Assets (Textual)
Finite lived intangible assets weighted average useful lives	2 years

Income Per Share (Details)

Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 26, 2015	Sep. 27, 2014
Computation of basic and diluted income per share
Net income	$ 3,559	$ 2,495
Computation of common shares outstanding - basic earnings per share:
Weighted average shares of common stock	21,955	21,936
Basic earnings per share	$ 0.16	$ 0.11
Computation of common shares outstanding - diluted earnings per share:
Weighted average shares of common stock	21,955	21,936
Dilutive shares using the treasury stock method	568	326
Shares used in computing diluted earnings per share	22,523	22,262
Diluted earnings per share	$ 0.16	$ 0.11

Income Per Share (Details Textu

Income Per Share (Details Textual) - shares	3 Months Ended
	Sep. 26, 2015	Sep. 27, 2014
Common Stock [Member]
Income Per Share (Textual)
Number of shares excluded from the computation of diluted net earnings per share	340,000	1,256,000
Restricted Stock [Member]
Income Per Share (Textual)
Number of shares excluded from the computation of diluted net earnings per share	29,000	0

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Sep. 26, 2015	Jun. 27, 2015
Inventories
Raw materials	$ 7,448	$ 6,249
Work in process	3,150	2,812
Finished goods	4,585	4,552
Total inventories	$ 15,183	$ 13,613

Inventories (Details Textual)

Inventories (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Sep. 26, 2015	Jun. 27, 2015
Inventories (Textual)
Raw material inventory reserves, Description	The Company considers raw material inventory obsolete and reserves for it if the raw material has not been placed into production within 365 days. The Company reviews its assembled devices for excess and records a reserve if the quantity of assembled devices in inventory is in excess of the greater of the quantity shipped in the previous twelve months, the quantity in backlog or the quantity forecasted to be shipped in the following twelve months.
Inventory reserved	$ 2.4	$ 2.8

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 26, 2015	Jun. 27, 2015
Schedule of accrued liabilities
Accrued compensation	$ 6,192	$ 6,489
Income taxes payable	2,207	2,280
Sales commissions	396	347
Other accrued expenses	1,347	2,309
Total accrued liabilities	$ 10,142	$ 11,425

Commitments and Contingencies44

Commitments and Contingencies (Details) $ in Thousands	Sep. 26, 2015USD ($)
Schedule of future minimum commitments
Less than 12 Months	$ 768
12-24 Months	315
24-36 Months	185
Over 36 Months	8
48-60 Months	8
Over 60 Months	2
Total	1,286
Operating lease payments [Member]
Schedule of future minimum commitments
Less than 12 Months	427
12-24 Months	315
24-36 Months	185
Over 36 Months	8
48-60 Months	8
Over 60 Months	2
Total	945
Capital equipment purchase commitments [Member]
Schedule of future minimum commitments
Less than 12 Months	$ 11
12-24 Months
24-36 Months
Over 36 Months
48-60 Months
Over 60 Months
Total	$ 11
Facility modification commitments [Member]
Schedule of future minimum commitments
Less than 12 Months	$ 330
12-24 Months
24-36 Months
Over 36 Months
48-60 Months
Over 60 Months
Total	$ 330

Industry and Segment Informat45

Industry and Segment Information (Details)	3 Months Ended
	Sep. 26, 2015	Sep. 27, 2014
Net Revenues [Member]
Summary of net revenues and accounts receivable in excess of 10 percent with any single customer
Net revenues and accounts receivable in excess of 10 percent with any single customer	100.00%	100.00%
Net Revenues [Member] | Customer A [Member]
Summary of net revenues and accounts receivable in excess of 10 percent with any single customer
Net revenues and accounts receivable in excess of 10 percent with any single customer	19.00%	12.00%
Net Revenues [Member] | Customer B [Member]
Summary of net revenues and accounts receivable in excess of 10 percent with any single customer
Net revenues and accounts receivable in excess of 10 percent with any single customer	16.00%	29.00%
Net Revenues [Member] | All others [Member]
Summary of net revenues and accounts receivable in excess of 10 percent with any single customer
Net revenues and accounts receivable in excess of 10 percent with any single customer	65.00%	59.00%
Accounts Receivable [Member]
Summary of net revenues and accounts receivable in excess of 10 percent with any single customer
Net revenues and accounts receivable in excess of 10 percent with any single customer	100.00%	100.00%
Accounts Receivable [Member] | Customer A [Member]
Summary of net revenues and accounts receivable in excess of 10 percent with any single customer
Net revenues and accounts receivable in excess of 10 percent with any single customer	27.00%	23.00%
Accounts Receivable [Member] | Customer B [Member]
Summary of net revenues and accounts receivable in excess of 10 percent with any single customer
Net revenues and accounts receivable in excess of 10 percent with any single customer	14.00%	16.00%
Accounts Receivable [Member] | All others [Member]
Summary of net revenues and accounts receivable in excess of 10 percent with any single customer
Net revenues and accounts receivable in excess of 10 percent with any single customer	59.00%	61.00%

Industry and Segment Informat46

Industry and Segment Information (Details 1) - USD ($) $ in Thousands	3 Months Ended
	Sep. 26, 2015	Sep. 27, 2014	Jun. 27, 2015
Schedule of net revenues and long-lived assets by geographical segment
Total net revenues	$ 31,570	$ 33,259
Total long-lived assets	55,947		$ 57,746
China (including Hong Kong) [Member]
Schedule of net revenues and long-lived assets by geographical segment
Total net revenues	14,847	16,178
Total long-lived assets	29,866		31,211
Taiwan [Member]
Schedule of net revenues and long-lived assets by geographical segment
Total net revenues	11,297	10,805
Total long-lived assets	10,349		10,974
United States [Member]
Schedule of net revenues and long-lived assets by geographical segment
Total net revenues	1,078	1,462
Total long-lived assets	14,178		14,392
Korea [Member]
Schedule of net revenues and long-lived assets by geographical segment
Total long-lived assets	1,349		1,024
Others (less than 10% each) [Member]
Schedule of net revenues and long-lived assets by geographical segment
Total net revenues	4,348	$ 4,814
Total long-lived assets	$ 205		$ 145

Industry and Segment Informat47

Industry and Segment Information (Details Textual)	3 Months Ended
	Sep. 26, 2015Segment
Segment Reporting (Textual)
Number of operating segments	2
Number of reportable segments	1
Net revenues and accounts receivable in excess rate	10.00%

Stock Repurchase Program (Detai

Stock Repurchase Program (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 26, 2015	Sep. 27, 2014	Apr. 24, 2014
Stock Repurchase Program (Textual)
Common stock value authorized to repurchase under share repurchase program			$ 20
Stock repurchased during period, Shares	464,957	250,547
Stock repurchased during period, Value	$ 5.8	$ 2.3
Remaining shares authorized to repurchase under the 2014 share repurchase program	$ 10

Shareholders' Equity and Shar49

Shareholders' Equity and Share-Based Compensation (Details) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 26, 2015USD ($)$ / sharesshares
Schedule of stock option plan activity
Beginning balance, Options outstanding | shares	1,249
Options outstanding, Granted | shares
Option outstanding, Exercised | shares	(14)
Option outstanding, Cancelled or expired | shares
Ending balance, Option outstanding | shares	1,235
Option outstanding, Options vested and expected to vest | shares	1,222
Option outstanding, Options exercisable | shares	1,050
Beginning balance, Weighted Average Exercise Price	$ 10.92
Weighted Average Exercise Price, Granted
Weighted Average Exercise Price, Exercised	$ 11.19
Weighted Average Exercise Price, Cancelled or expired
Ending balance, Weighted Average Exercise Price	$ 10.92
Weighted Average Exercise Price, Options vested and expected to vest	10.95
Weighted Average Exercise Price, Options exercisable	$ 11.29
Weighted Average Remaining Contractual Term, Options outstanding, Beginning balance	4 years 8 months 1 day
Weighted Average Remaining Contractual Term, Options outstanding, Ending balance	4 years 5 months 9 days
Weighted Average Remaining Contractual Term, Options vested and expected to vest	4 years 4 months 24 days
Weighted Average Remaining Contractual Term, Options exercisable	3 years 9 months 4 days
Beginning balance, Aggregate Intrinsic Value | $	$ 4,501
Ending balance, Aggregate Intrinsic Value | $	7,872
Aggregate Intrinsic Value, Options vested and expected to vest | $	7,759
Aggregate Intrinsic Value, Options exercisable | $	$ 6,302

Shareholders' Equity and Shar50

Shareholders' Equity and Share-Based Compensation (Details 1)	3 Months Ended
	Sep. 26, 2015$ / sharesshares
Exercise price range one [Member]
Schedule of options outstanding and exercisable
Range of Exercise Prices, Lower range limit	$ 5.48
Range of Exercise Prices, Upper range limit	$ 8.10
Option Outstanding, Number outstanding | shares	249,000
Option Outstanding, Weighted Average Remaining Contractual Term	6 years 9 months 7 days
Options Outstanding, Weighted Average Exercise Price	$ 7.65
Exercisable Options, Number Exercisable | shares	158,000
Exercisable Options, Weighted Average Exercise Price	$ 7.62
Exercise price range two [Member]
Schedule of options outstanding and exercisable
Range of Exercise Prices, Lower range limit	8.11
Range of Exercise Prices, Upper range limit	$ 8.85
Option Outstanding, Number outstanding | shares	261,000
Option Outstanding, Weighted Average Remaining Contractual Term	4 years 6 months
Options Outstanding, Weighted Average Exercise Price	$ 8.56
Exercisable Options, Number Exercisable | shares	231,000
Exercisable Options, Weighted Average Exercise Price	$ 8.54
Exercise price range three [Member]
Schedule of options outstanding and exercisable
Range of Exercise Prices, Lower range limit	8.86
Range of Exercise Prices, Upper range limit	$ 10.25
Option Outstanding, Number outstanding | shares	254,000
Option Outstanding, Weighted Average Remaining Contractual Term	4 years 10 months 2 days
Options Outstanding, Weighted Average Exercise Price	$ 9.83
Exercisable Options, Number Exercisable | shares	211,000
Exercisable Options, Weighted Average Exercise Price	$ 9.96
Exercise price range four [Member]
Schedule of options outstanding and exercisable
Range of Exercise Prices, Lower range limit	10.26
Range of Exercise Prices, Upper range limit	$ 15.45
Option Outstanding, Number outstanding | shares	305,000
Option Outstanding, Weighted Average Remaining Contractual Term	3 years 4 months 21 days
Options Outstanding, Weighted Average Exercise Price	$ 13.56
Exercisable Options, Number Exercisable | shares	284,000
Exercisable Options, Weighted Average Exercise Price	$ 13.61
Exercise price range five [Member]
Schedule of options outstanding and exercisable
Range of Exercise Prices, Lower range limit	15.46
Range of Exercise Prices, Upper range limit	$ 18.10
Option Outstanding, Number outstanding | shares	166,000
Option Outstanding, Weighted Average Remaining Contractual Term	2 years 1 month 21 days
Options Outstanding, Weighted Average Exercise Price	$ 16.36
Exercisable Options, Number Exercisable | shares	166,000
Exercisable Options, Weighted Average Exercise Price	$ 16.36
Exercise price range six [Member]
Schedule of options outstanding and exercisable
Range of Exercise Prices, Lower range limit	5.48
Range of Exercise Prices, Upper range limit	$ 18.10
Option Outstanding, Number outstanding | shares	1,235,000
Option Outstanding, Weighted Average Remaining Contractual Term	4 years 5 months 9 days
Options Outstanding, Weighted Average Exercise Price	$ 10.92
Exercisable Options, Number Exercisable | shares	1,050,000
Exercisable Options, Weighted Average Exercise Price	$ 11.29

Shareholders' Equity and Shar51

Shareholders' Equity and Share-Based Compensation (Details 2) - Restricted Stock Units and Performance Stock Units [Member] $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 26, 2015USD ($)$ / sharesshares
Summary of activity of restricted stock units (RSUs)
RSUs and PSUs outstanding, Beginning balance	769
RSUs and PSUs outstanding, Awarded	334
RSUs and PSUs outstanding, Released	(174)
RSUs and PSUs outstanding, Forfeited	(3)
RSUs and PSUs outstanding, Ending balance	926
RSU's and PSUs expected to vest, after September 26,2015	790
RSUs and PSUs outstanding, Weighted Average Grant Date Fair Value, Beginning balance | $ / shares	$ 9.76
Weighted average grant date fair value, Awarded | $ / shares	14.64
Weighted average grant date fair value, Released | $ / shares	9.17
Weighted average grant date fair value, Forfeited | $ / shares	10.66
RSUs and PSUs outstanding, Weighted Average Grant Date Fair Value, Ending balance | $ / shares	$ 11.63
RSUs and PSUs outstanding, Weighted Average Remaining Contractual Term, Beginning balance	1 year 3 months 29 days
RSUs and PSUs outstanding, Weighted Average Remaining Contractual Term, Ending balance	1 year 6 months 15 days
RSU's vested and expected to vested, Weighted Average Remaing Contractual Term	1 year 4 months 24 days
RSUs and PSUs outstanding, Aggregate Intrinsic Value, Beginning balance | $	$ 10,792
RSUs and PSUs outstanding, Aggregate Intrinsic Value, Ending balance | $	15,990
RSUs and PSUs expected to vest after September 26, 2015 Aggregate Intrinsic Value | $	$ 13,653

Shareholders' Equity and Shar52

Shareholders' Equity and Share-Based Compensation (Details 3) - USD ($) $ in Thousands	3 Months Ended
	Sep. 26, 2015	Sep. 27, 2014
Summary of share based compensation expenses classified by consolidated statement of operations
Pre-tax share-based compensation expense	$ 960	$ 709
Income tax impact	321	230
Net share-based compensation expense	639	479
Cost of goods sold [Member]
Summary of share based compensation expenses classified by consolidated statement of operations
Pre-tax share-based compensation expense	63	33
Research and development [Member]
Summary of share based compensation expenses classified by consolidated statement of operations
Pre-tax share-based compensation expense	287	218
Selling, general and administrative [Member]
Summary of share based compensation expenses classified by consolidated statement of operations
Pre-tax share-based compensation expense	$ 610	$ 458

Shareholders' Equity and Shar53

Shareholders' Equity and Share-Based Compensation (Details Textual)	3 Months Ended
	Sep. 26, 2015USD ($)Stock_Option_PlanStockpurchaseplanshares
Board of Directors [Member]
Shareholders' Equity and Share-Based Compensation (Textual)
Preferred stock, shares authorized	5,000,000
Preferred stock, shares issued	0
Restricted Stock Units (RSUs) [Member]
Shareholders' Equity and Share-Based Compensation (Textual)
Options vesting period	4 years
Number of shares awarded during the period	235,000
Performance Stock Units [Member]
Shareholders' Equity and Share-Based Compensation (Textual)
Options vesting period	12 months
Restricted Stock Units And Performance Stock Units [Member]
Shareholders' Equity and Share-Based Compensation (Textual)
Unamortized sharebased compensation expense | $	$ 7,200,000
Weighted average period of recognition	2 years 7 months 6 days
Number of shares awarded during the period	334,000
Stock Option Plan [Member]
Shareholders' Equity and Share-Based Compensation (Textual)
Number of stock option plan | Stock_Option_Plan	3
Number of stock purchase plan | Stockpurchaseplan	1
Reserve of common stock for issuance to employees and officers | $	$ 6,200,000
Options vesting period	48 months
Option expiration period	10 years
Unamortized sharebased compensation expense | $	$ 626,000
Weighted average period of recognition	2 years
Shares available for future grant	2,900,000
Aggregate intrinsic value of options exercised | $	$ 78,000
2010 Employee Stock Purchase Plan [Member]
Shareholders' Equity and Share-Based Compensation (Textual)
Reserve of common stock for issuance to employees and officers | $	2,000,000
Unamortized sharebased compensation expense | $	$ 19,000
Shares available for future grant	1,500,000
Purchase option for participants in purchase period	Participants in the ESPP may purchase stock at 85% of the lower of the stock's fair market value on the first day and last day of the offering period.
Maximum number of common stock by employees in purchase period	1,500
Maximum amount that can be accrued in offering period for stock purchased | $	$ 15,000

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended
	Sep. 26, 2015	Sep. 27, 2014	Jun. 27, 2015
Income Taxes (Textual)
Income tax expense	$ 535,000	$ 1,010,000
Effective income tax rate	13.00%	29.00%
Valuation allowance	$ 4,400,000		$ 4,400,000
Unrecognized tax benefits	2,300,000
Unrecognized tax benefits that would affect the Company's effective tax rate if recognized	1,100,000
Accrued interest and penalties related to unrecognized tax benefits	$ 240,000
Income tax examination, description	The Company is subject to examination by federal, foreign, and various state jurisdictions for the years 2009 through 2015.

Investment in Unconsolidated 55

Investment in Unconsolidated Affiliate (Details) - USD ($) $ in Thousands	Sep. 26, 2015	Jun. 27, 2015
Investment in unconsolidated affiliate
Jiyuan Crystal Photoelectric Frequency Technology Ltd.	$ 2,289	$ 2,311

Investment in Unconsolidated 56

Investment in Unconsolidated Affiliate (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Sep. 26, 2015	Sep. 27, 2014
Investment in Unconsolidated Affiliate (Textual)
Allocated portion of JCP's income	$ 26	$ 39
Jiyuan Crystal Photoelectric Frequency Technology Ltd [Member]
Investment in Unconsolidated Affiliate (Textual)
Equity interest	49.00%

Equity and Comprehensive Inco57

Equity and Comprehensive Income (Loss) (Details) - USD ($)	3 Months Ended	12 Months Ended
	Sep. 26, 2015	Jun. 27, 2015
Equity and Comprehensive Income (Textual)
Accumulated other comprehensive income	$ 4,119,000	$ 9,015,000
Accumulated currency translation gains included in accumulated other comprehensive income	4,200,000	9,000,000
Net unrealized losses on available-for-sale investments	127,000	21,000
Tax provision/benefit	$ 2,000	$ 2,000

Dividends (Details)

Dividends (Details) - USD ($) $ / shares in Units, $ in Millions	Sep. 03, 2015	Jul. 28, 2015
Dividends (Textual)
Cash dividend payable in per share		$ 0.06
Payment of cash dividends	$ 1.3

Short-Term Debt (Details)

Short-Term Debt (Details) - 3 months ended Sep. 26, 2015 - PSE-TW [Member] TWD in Millions, $ in Millions	USD ($)	TWD
Unsecured Facility One [Member]
Short-Term Debt (Textual)
Unsecured debt	$ 3	TWD 100
Maximum borrowing capacity	$ 2.1	70
Taiwan Interbank Offered Rate	1.25%
Unsecured and secured facility term period	Loans under this facility are limited to $70 million NTD (U.S. $2.1 million), are for up to 180 days, and are based on the Taiwan Interbank Offered Rate ("TAIBOR") plus 1.25% and may be in NTD, USD, Japanese yen ("JPY") or other currencies.
Unsecured Facility Two [Member]
Short-Term Debt (Textual)
Unsecured debt	$ 2.4	80
Maximum borrowing capacity	$ 1.8	60
Unsecured and secured facility term period	Loans under this facility are limited to $60 million NTD (U.S. $1.8 million), are for up to 180 days, with the interest rate determined on a case by case basis, and may be in NTD, USD, or JPY.
Secured facility [Member]
Short-Term Debt (Textual)
Secured facility	$ 6	TWD 200
Collateral for secured loan and credit facility	$ 4
Unsecured and secured facility term period	The loans are for up to 180 days, and may be in NTD, USD, JPY or other currencies, with the interest rate based on a spread over various benchmark rates depending upon the currency.

Industrial Development Subsidy

Industrial Development Subsidy (Details) - USD ($)	3 Months Ended
	Sep. 26, 2015	Sep. 27, 2014
Industrial Development Subsidy (Textual)
Subsidy recieved	$ 11,600,000
Remaining subsidy	$ 5,000,000
Period over which remaining subsidy to be recognized	Five to seven years
Subsidy as a reduction in cost of goods sold	$ 186,000	$ 188,000
Subsidy as a reduction of operating expenses	$ 42,000	$ 47,000

Investments in Marketable Sec61

Investments in Marketable Securities (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Sep. 26, 2015	Jun. 27, 2015
Available-for-Sale Securities
Amortized Cost	$ 79,084	$ 90,283
Unrealized Gains	201	268
Unrealized Losses	(327)	(247)
Net Unrealized Gains (Losses)	(126)	21
Fair Value	78,958	90,304
Time deposits [Member]
Available-for-Sale Securities
Amortized Cost	$ 19,264	$ 22,157
Unrealized Gains
Unrealized Losses
Net Unrealized Gains (Losses)
Fair Value	$ 19,264	$ 22,157
Repurchase agreements [Member]
Available-for-Sale Securities
Amortized Cost
Unrealized Gains
Unrealized Losses
Net Unrealized Gains (Losses)
Fair Value
National government and agency securities [Member]
Available-for-Sale Securities
Amortized Cost	$ 3,180	4,612
Unrealized Gains	$ 61	64
Unrealized Losses		(3)
Net Unrealized Gains (Losses)	$ 61	61
Fair Value	3,241	4,673
State and municipal bond obligations [Member]
Available-for-Sale Securities
Amortized Cost	5,201	4,488
Unrealized Gains	50	13
Unrealized Losses	(9)	(11)
Net Unrealized Gains (Losses)	41	2
Fair Value	5,242	4,490
Corporate bonds and notes [Member]
Available-for-Sale Securities
Amortized Cost	39,386	46,889
Unrealized Gains	76	168
Unrealized Losses	(274)	(200)
Net Unrealized Gains (Losses)	(198)	(32)
Fair Value	39,188	46,857
Asset backed securities [Member]
Available-for-Sale Securities
Amortized Cost	7,364	6,994
Unrealized Gains	12	12
Unrealized Losses	(27)	(20)
Net Unrealized Gains (Losses)	(15)	(8)
Fair Value	7,619	6,986
Mortgage backed securities [Member]
Available-for-Sale Securities
Amortized Cost	4,419	5,143
Unrealized Gains	2	11
Unrealized Losses	(17)	(13)
Net Unrealized Gains (Losses)	(15)	(2)
Fair Value	$ 4,404	$ 5,141

Investments in Marketable Sec62

Investments in Marketable Securities (Details 1) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Sep. 26, 2015	Jun. 27, 2015
Continuous unrealized losses and fair market values of the Company's investments
Less Than 12 months, Fair Value	$ 24,463	$ 26,944
Less Than 12 Months, Unrealized Losses	274	223
12 Months or Longer, Fair Value	2,789	5,557
12 Months or Longer, Unrealized Losses	53	24
Total, Fair Value	27,252	32,501
Total, Unrealized Losses	$ 327	247
National government and agency securities [Member]
Continuous unrealized losses and fair market values of the Company's investments
Less Than 12 months, Fair Value		1,411
Less Than 12 Months, Unrealized Losses		3
12 Months or Longer, Fair Value		$ 190
12 Months or Longer, Unrealized Losses
Total, Fair Value		$ 1,601
Total, Unrealized Losses		3
State and municipal bond obligations [Member]
Continuous unrealized losses and fair market values of the Company's investments
Less Than 12 months, Fair Value	$ 593	928
Less Than 12 Months, Unrealized Losses	6	4
12 Months or Longer, Fair Value	607	1,077
12 Months or Longer, Unrealized Losses	3	7
Total, Fair Value	1,200	2,005
Total, Unrealized Losses	9	11
Corporate bonds and notes [Member]
Continuous unrealized losses and fair market values of the Company's investments
Less Than 12 months, Fair Value	18,266	20,621
Less Than 12 Months, Unrealized Losses	239	188
12 Months or Longer, Fair Value	1,758	2,893
12 Months or Longer, Unrealized Losses	35	12
Total, Fair Value	20,024	23,514
Total, Unrealized Losses	274	200
Asset backed securities [Member]
Continuous unrealized losses and fair market values of the Company's investments
Less Than 12 months, Fair Value	2,404	1,961
Less Than 12 Months, Unrealized Losses	12	16
12 Months or Longer, Fair Value	424	1,061
12 Months or Longer, Unrealized Losses	15	4
Total, Fair Value	2,828	3,022
Total, Unrealized Losses	27	20
Mortgage backed securities [Member]
Continuous unrealized losses and fair market values of the Company's investments
Less Than 12 months, Fair Value	3,200	2,023
Less Than 12 Months, Unrealized Losses	$ 17	12
12 Months or Longer, Fair Value		336
12 Months or Longer, Unrealized Losses		1
Total, Fair Value	$ 3,200	2,359
Total, Unrealized Losses	$ 17	$ 13

Investments in Marketable Sec63

Investments in Marketable Securities (Details 2) $ in Thousands	Sep. 26, 2015USD ($)
Fair market value of short and long-term investments
Less than 12 months	$ 21,985
One to three years	35,128
Over three years	16,699
Multiple dates	5,146
Total	$ 78,958

Investments in Marketable Sec64

Investments in Marketable Securities (Details Textual) - USD ($)	3 Months Ended
	Sep. 26, 2015	Sep. 27, 2014
Investments in Marketable Securities (Textual)
Proceeds from maturities and sales of available-for-sale investments	$ 20,826,000	$ 15,292,000
Loss on sale of investments	$ 37,000	$ 6,000
Short-term investments, Description	Securities with maturities over multiple dates are mortgage-backed securities ("MBS") or asset-backed securities ("ABS") featuring periodic principle paydowns through 2042.

Fair Value Measurements (Detail

Fair Value Measurements (Details) $ in Thousands	Sep. 26, 2015USD ($)	[1]
Level 1 [Member]
Fair value measurement
Total
Level 1 [Member] | Time deposits [Member]
Fair value measurement
Total
Level 1 [Member] | Repurchase Agreements [Member]
Fair value measurement
Total
Level 1 [Member] | National government and agency securities [Member]
Fair value measurement
Total
Level 1 [Member] | State and municipal bond obligations [Member]
Fair value measurement
Total
Level 1 [Member] | Corporate bonds and notes [Member]
Fair value measurement
Total
Level 1 [Member] | Asset backed securities [Member]
Fair value measurement
Total
Level 1 [Member] | Mortgage backed securities [Member]
Fair value measurement
Total
Level 2 [Member]
Fair value measurement
Total	$ 100,510
Level 2 [Member] | Time deposits [Member]
Fair value measurement
Total	40,062
Level 2 [Member] | Repurchase Agreements [Member]
Fair value measurement
Total	754
Level 2 [Member] | National government and agency securities [Member]
Fair value measurement
Total	3,241
Level 2 [Member] | State and municipal bond obligations [Member]
Fair value measurement
Total	5,242
Level 2 [Member] | Corporate bonds and notes [Member]
Fair value measurement
Total	39,188
Level 2 [Member] | Asset backed securities [Member]
Fair value measurement
Total	7,619
Level 2 [Member] | Mortgage backed securities [Member]
Fair value measurement
Total	$ 4,404
Level 3 [Member]
Fair value measurement
Total
Level 3 [Member] | Time deposits [Member]
Fair value measurement
Total
Level 3 [Member] | Repurchase Agreements [Member]
Fair value measurement
Total
Level 3 [Member] | National government and agency securities [Member]
Fair value measurement
Total
Level 3 [Member] | State and municipal bond obligations [Member]
Fair value measurement
Total
Level 3 [Member] | Corporate bonds and notes [Member]
Fair value measurement
Total
Level 3 [Member] | Asset backed securities [Member]
Fair value measurement
Total
Level 3 [Member] | Mortgage backed securities [Member]
Fair value measurement
Total
Fair Value [Member]
Fair value measurement
Total	$ 100,510
Fair Value [Member] | Time deposits [Member]
Fair value measurement
Total	40,062
Fair Value [Member] | Repurchase Agreements [Member]
Fair value measurement
Total	754
Fair Value [Member] | National government and agency securities [Member]
Fair value measurement
Total	3,241
Fair Value [Member] | State and municipal bond obligations [Member]
Fair value measurement
Total	5,242
Fair Value [Member] | Corporate bonds and notes [Member]
Fair value measurement
Total	39,188
Fair Value [Member] | Asset backed securities [Member]
Fair value measurement
Total	7,619
Fair Value [Member] | Mortgage backed securities [Member]
Fair value measurement
Total	$ 4,404
[1]	$20,798,000 of the time deposits and $754,000 of the repurchase agreements are included in cash and cash equivalents; the balance of the investments are included in short-term investments in marketable securities on our consolidated balance sheet.

Fair Value Measurements (Deta66

Fair Value Measurements (Details Textual)	Sep. 26, 2015USD ($)
Time deposits [Member]
Fair Value Measurements (Textual)
Deposits	$ 20,798,000
Repurchase Agreements [Member]
Fair Value Measurements (Textual)
Cash and cash equivalents	$ 754,000