Document And Entity Information
Document And Entity Information - USD ($) $ in Billions | 12 Months Ended | ||
Dec. 31, 2016 | Feb. 20, 2017 | Jun. 30, 2016 | |
Document Information [Line Items] | |||
Entity Registrant Name | MONOLITHIC POWER SYSTEMS INC | ||
Entity Central Index Key | 1,280,452 | ||
Trading Symbol | mpwr | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Common Stock, Shares Outstanding (in shares) | 41,171,970 | ||
Entity Public Float | $ 1.9 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Current assets: | ||
Cash and cash equivalents | $ 112,703 | $ 90,860 |
Short-term investments | 155,521 | 144,103 |
Accounts receivable, net | 34,248 | 30,830 |
Inventories | 71,469 | 63,209 |
Other current assets | 9,043 | 2,926 |
Total current assets | 382,984 | 331,928 |
Property and equipment, net | 85,171 | 65,359 |
Long-term investments | 5,354 | 5,361 |
Goodwill | 6,571 | 6,571 |
Acquisition-related intangible assets, net | 3,002 | 5,053 |
Deferred tax assets, net | 633 | 672 |
Other long-term assets | 27,411 | 16,341 |
Total assets | 511,126 | 431,285 |
Current liabilities: | ||
Accounts payable | 17,427 | 13,487 |
Accrued compensation and related benefits | 12,578 | 9,812 |
Accrued liabilities | 22,916 | 19,984 |
Total current liabilities | 52,921 | 43,283 |
Income tax liabilities | 3,870 | 2,941 |
Other long-term liabilities | 23,219 | 16,545 |
Total liabilities | 80,010 | 62,769 |
Commitments and contingencies (notes 12, 13 and 14) | ||
Stockholders' equity: | ||
Common stock and additional paid-in capital, $0.001 par value; shares authorized: 150,000; shares issued and outstanding: 40,793 and 39,689 as of December 31, 2016 and December 31, 2015, respectively | 315,969 | 265,763 |
Retained earnings | 119,362 | 101,287 |
Accumulated other comprehensive income (loss) | (4,215) | 1,466 |
Total stockholders’ equity | 431,116 | 368,516 |
Total liabilities and stockholders’ equity | $ 511,126 | $ 431,285 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares shares in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 150,000 | 150,000 |
Common stock, shares issued (in shares) | 40,793 | 39,689 |
Common stock, shares outstanding (in shares) | 40,793 | 39,689 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Revenue | $ 103,618 | $ 106,456 | $ 94,079 | $ 84,512 | $ 86,918 | $ 91,194 | $ 81,416 | $ 73,538 | $ 388,665 | $ 333,067 | $ 282,535 |
Cost of revenue | 47,107 | 48,531 | 43,153 | 39,002 | 40,001 | 41,754 | 37,287 | 33,855 | 177,792 | 152,898 | 129,917 |
Gross profit | 56,511 | 57,925 | 50,926 | 45,510 | 46,917 | 49,440 | 44,129 | 39,683 | 210,873 | 180,169 | 152,618 |
Operating expenses: | |||||||||||
Research and development | 17,974 | 20,472 | 17,876 | 17,321 | 16,734 | 17,272 | 15,743 | 16,038 | 73,643 | 65,787 | 58,590 |
Selling, general and administrative | 21,316 | 22,397 | 21,531 | 17,768 | 18,107 | 18,722 | 17,964 | 17,518 | 83,012 | 72,312 | 66,755 |
Litigation expense (benefit), net | (321) | 55 | (8) | 45 | 283 | 136 | 311 | 270 | (229) | 1,000 | (8,027) |
Total operating expenses | 38,969 | 42,924 | 39,399 | 35,134 | 35,124 | 36,130 | 34,018 | 33,826 | 156,426 | 139,099 | 117,318 |
Income from operations | 17,542 | 15,001 | 11,527 | 10,376 | 11,793 | 13,310 | 10,111 | 5,857 | 54,447 | 41,070 | 35,300 |
Interest and other income, net | 897 | 780 | 597 | 543 | 550 | (6) | 235 | 642 | 2,817 | 1,421 | 1,092 |
Income before income taxes | 18,439 | 15,781 | 12,124 | 10,919 | 12,343 | 13,304 | 10,346 | 6,499 | 57,264 | 42,491 | 36,392 |
Income tax provision | 1,866 | 1,408 | 926 | 344 | 2,233 | 2,103 | 2,447 | 536 | 4,544 | 7,319 | 897 |
Net income | $ 16,573 | $ 14,373 | $ 11,198 | $ 10,575 | $ 10,110 | $ 11,201 | $ 7,899 | $ 5,963 | $ 52,720 | $ 35,172 | $ 35,495 |
Net income per share: | |||||||||||
Basic (in dollars per share) | $ 0.41 | $ 0.35 | $ 0.28 | $ 0.26 | $ 0.26 | $ 0.28 | $ 0.20 | $ 0.15 | $ 1.30 | $ 0.89 | $ 0.92 |
Diluted (in dollars per share) | $ 0.39 | $ 0.34 | $ 0.27 | $ 0.25 | $ 0.24 | $ 0.28 | $ 0.19 | $ 0.15 | $ 1.26 | $ 0.86 | $ 0.89 |
Weighted-average shares outstanding: | |||||||||||
Basic (in shares) | 40,436 | 39,470 | 38,686 | ||||||||
Diluted (in shares) | 42,404 | 41,895 | 41,716 | 41,646 | 41,445 | 40,689 | 40,745 | 40,596 | 41,915 | 40,869 | 39,793 |
Cash dividends declared per common share (in dollars per share) | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.80 | $ 0.80 | $ 0.45 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Net income | $ 52,720 | $ 35,172 | $ 35,495 |
Other comprehensive loss, net of tax: | |||
Foreign currency translation adjustments, net of $0 tax in 2016, 2015 and 2014 | (5,033) | (4,166) | (609) |
Change in unrealized gain (loss) on available-for-sale securities, net of $0 tax in 2016, 2015 and 2014 | (648) | (179) | 160 |
Total other comprehensive loss, net of tax | (5,681) | (4,345) | (449) |
Comprehensive income | $ 47,039 | $ 30,827 | $ 35,046 |
Consolidated Statements of Com6
Consolidated Statements of Comprehensive Income (Parentheticals) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Foreign currency translation adjustments, tax | $ 0 | $ 0 | $ 0 |
Change in unrealized losses on securities, tax | $ 0 | $ 0 | $ 0 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands | Common Stock Including Additional Paid in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Dec. 31, 2013 | 38,291 | |||
Balance at Dec. 31, 2013 | $ 234,201 | $ 82,938 | $ 6,260 | $ 323,399 |
Net income | 35,495 | 35,495 | ||
Other comprehensive loss | (449) | (449) | ||
Dividends and dividend equivalents declared | (18,319) | $ (18,319) | ||
Exercise of stock options (in shares) | 742 | 742 | ||
Exercise of stock options | $ 11,941 | $ 11,941 | ||
Release of restricted stock units (in shares) | 772 | |||
Repurchase of common shares (in shares) | (1,051) | |||
Repurchase of common shares | $ (41,198) | (41,198) | ||
Shares issued under the employee stock purchase plan (in shares) | 78 | |||
Shares issued under the employee stock purchase plan | $ 2,078 | 2,078 | ||
Stock-based compensation expense | 33,459 | 33,459 | ||
Tax benefits from equity awards | $ 19 | 19 | ||
Balance (in shares) at Dec. 31, 2014 | 38,832 | |||
Balance at Dec. 31, 2014 | $ 240,500 | 100,114 | 5,811 | 346,425 |
Net income | 35,172 | 35,172 | ||
Other comprehensive loss | (4,345) | (4,345) | ||
Dividends and dividend equivalents declared | (33,999) | $ (33,999) | ||
Exercise of stock options (in shares) | 498 | 498 | ||
Exercise of stock options | $ 7,744 | $ 7,744 | ||
Release of restricted stock units (in shares) | 948 | |||
Repurchase of common shares (in shares) | (645) | |||
Repurchase of common shares | $ (32,286) | (32,286) | ||
Shares issued under the employee stock purchase plan (in shares) | 56 | |||
Shares issued under the employee stock purchase plan | $ 2,227 | 2,227 | ||
Stock-based compensation expense | 41,650 | 41,650 | ||
Tax benefits from equity awards | $ 5,928 | $ 5,928 | ||
Balance (in shares) at Dec. 31, 2015 | 39,689 | 39,689 | ||
Balance at Dec. 31, 2015 | $ 265,763 | 101,287 | 1,466 | $ 368,516 |
Net income | 52,720 | 52,720 | ||
Other comprehensive loss | (5,681) | (5,681) | ||
Dividends and dividend equivalents declared | (34,645) | $ (34,645) | ||
Exercise of stock options (in shares) | 76 | 76 | ||
Exercise of stock options | $ 1,344 | $ 1,344 | ||
Release of restricted stock units (in shares) | 975 | |||
Shares issued under the employee stock purchase plan (in shares) | 53 | |||
Shares issued under the employee stock purchase plan | $ 2,463 | 2,463 | ||
Stock-based compensation expense | 44,934 | 44,934 | ||
Tax benefits from equity awards | $ 1,465 | $ 1,465 | ||
Balance (in shares) at Dec. 31, 2016 | 40,793 | 40,793 | ||
Balance at Dec. 31, 2016 | $ 315,969 | $ 119,362 | $ (4,215) | $ 431,116 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Cash flows from operating activities: | |||
Net income | $ 52,720 | $ 35,172 | $ 35,495 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization of intangible assets | 14,674 | 13,783 | 13,130 |
(Gain) loss on sales or write-off of property and equipment | 57 | (339) | |
Amortization of premium on available-for-sale investments, net | 1,019 | 463 | 237 |
(Gain) loss on employee deferred compensation plan investments | (1,257) | 133 | (141) |
Change in fair value of contingent consideration | (2,507) | ||
Deferred taxes, net | (5) | 42 | 17 |
Excess tax benefits from equity awards | (1,465) | (5,928) | (10) |
Stock-based compensation expense | 44,989 | 41,563 | 33,454 |
Changes in operating assets and liabilities, net of effects of an acquisition: | |||
Accounts receivable | (3,421) | (5,201) | (1,870) |
Inventories | (8,323) | (22,210) | (1,142) |
Other assets | (11,021) | (390) | (2,029) |
Accounts payable | 5,483 | 147 | 1,632 |
Accrued liabilities | 8,035 | 9,942 | (3,102) |
Income tax liabilities | 3,165 | 3,998 | (248) |
Accrued compensation and related benefits | 3,136 | 1,068 | (1,290) |
Net cash provided by operating activities | 107,786 | 69,736 | 74,133 |
Cash flows from investing activities: | |||
Property and equipment purchases | (37,112) | (16,024) | (9,511) |
Proceeds from sales of property and equipment | 340 | ||
Purchases of short-term investments | (236,912) | (223,018) | (136,872) |
Proceeds from maturities and sales of short-term investments | 223,344 | 189,549 | 149,291 |
Proceeds from sales of long-term investment | 4,650 | ||
Contributions to employee deferred compensation plan, net | (5,046) | (8,044) | (5,335) |
Cash paid for an acquisition, net of cash acquired | (11,590) | ||
Net cash used in investing activities | (55,726) | (57,197) | (9,367) |
Cash flows from financing activities: | |||
Property and equipment purchased on extended payment terms | (300) | (300) | (400) |
Proceeds from exercise of stock options | 1,344 | 7,744 | 11,941 |
Proceeds from shares issued under the employee stock purchase plan | 2,463 | 2,227 | 2,078 |
Repurchases of common shares | (32,286) | (41,198) | |
Dividends and dividend equivalents paid | (33,099) | (29,965) | (11,658) |
Excess tax benefits from equity awards | 1,465 | 5,928 | 10 |
Net cash used in financing activities | (28,127) | (46,652) | (39,227) |
Effect of change in exchange rates | (2,090) | (1,293) | (486) |
Net increase (decrease) in cash and cash equivalents | 21,843 | (35,406) | 25,053 |
Cash and cash equivalents, beginning of period | 90,860 | 126,266 | 101,213 |
Cash and cash equivalents, end of period | 112,703 | 90,860 | 126,266 |
Supplemental disclosures for cash flow information: | |||
Cash paid for taxes and interest | 1,234 | 3,322 | 1,235 |
Supplemental disclosures of non-cash investing and financing activities: | |||
Liability accrued for property and equipment purchases | 787 | 2,184 | 1,487 |
Liability accrued for dividends and dividend equivalents | 10,416 | 10,109 | 6,660 |
Sensima [Member] | |||
Supplemental disclosures of non-cash investing and financing activities: | |||
Fair value of contingent consideration related to an acquisition | $ 2,507 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 1. Business Monolithic Power Systems, Inc. (“MPS” or the “Company”) was incorporated in the State of California on August 22, 1997. November 17, 2004, Basis of Presentation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. Intercompany accounts and transactions have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and reported amounts of revenue and expenses during the reporting period. Significant estimates and assumptions used in these consolidated financial statements primarily include those related to revenue recognition, inventory valuation, valuation of share-based awards, valuation of goodwill and acquisition-related intangible assets, contingencies and tax valuation allowances. Actual results could differ from those estimates. Certain Significant Risks and Uncertainties Financial instruments which potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, short-term and long-term investments and accounts receivable. The Company’s cash consists of checking and savings accounts. The Company’s cash equivalents include short-term, highly liquid investments purchased with remaining maturities at the date of purchase of three The Company participates in the dynamic high technology industry and believes that changes in any of the following areas could have a material adverse effect on its future financial position, results of operations or cash flows: advances and trends in new technologies and industry standards; competitive pressures in the form of new products or price reductions on current products; changes in product mix; changes in the overall demand for products offered by the Company; changes in third Foreign Currency In general, the functional currency of the Company’s international subsidiaries is the local currency. The primary subsidiaries are located in China and Taiwan, which utilize the Renminbi and the New Taiwan Dollar as their currencies, respectively. Accordingly, assets and liabilities of the foreign subsidiaries are translated using exchange rates in effect at the end of the period. Revenue and costs are translated using average exchange rates for the period. The resulting translation adjustments are presented as a separate component of accumulated other comprehensive income (loss) in stockholders’ equity in the Consolidated Balance Sheets. In addition, the Company incurs foreign currency exchange gains or losses related to certain intercompany transactions between the U.S. and its foreign subsidiaries that are denominated in a currency other than the functional currency. In connection with the settlement and remeasurement of the balances, the Company recorded gains of $0.1 $0.6 $0.1 December 31, 2016, 2015 2014, reported in interest and other income, net, in the Consolidated Statements of Operations. Cash and Cash Equivalents The Company classifies all highly liquid investments with stated maturities of three Fair Value of Financial Instruments Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three Level 1: Level 2: Level 3: The Company’s financial instruments include cash and cash equivalents, and short-term and long-term investments. Cash equivalents are stated at cost, which approximates fair market value. The Company’s short-term and long-term investments are classified as available-for-sale securities and are stated at their fair market value. Premiums and discounts are amortized or accreted over the life of the related available-for-sale securities. Interest income is recognized when earned. The Company determines whether an impairment is temporary or other-than temporary. Unrealized gains or losses that are deemed to be temporary are recorded as a component of accumulated other comprehensive income (loss) in stockholders’ equity in the Consolidated Balance Sheets, and changes in unrealized gains or losses are recorded in the Consolidated Statements of Comprehensive Income. The Company records an impairment charge in interest and other income, net, in the Consolidated Statements of Operations when an available-for-sale investment has experienced a decline in value that is deemed to be other-than-temporary. Other-than-temporary impairment exists when the Company either has the intent to sell the security, it will more likely than not be required to sell the security before anticipated recovery, or it does not expect to recover the entire amortized cost basis of the security. As of December 31, 2016 2015, $5.4 Inventories Inventories are stated at the lower of standard cost (which approximates actual cost determined on a first first may may Property and Equipment Property and equipment are stated at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Buildings and building improvements have estimated useful lives of 30 40 three seven 5 15 three five Goodwill and Acquisition-Related Intangible Assets Goodwill represents the excess of the fair value of purchase consideration over the fair value of net tangible and identified intangible assets as of the date of acquisition. In-process research and development (“IPR&D”) assets represent the fair value of incomplete R&D projects that had not reached technological feasibility as of the date of acquisition. The IPR&D assets are initially capitalized at fair value as intangible assets with indefinite lives and assessed for impairment at each reporting period. When the IPR&D projects are completed, they are reclassified as amortizable intangible assets and are amortized over their estimated useful lives. Alternatively, if the IPR&D projects are abandoned, they are impaired and expensed to research and development. Acquisition-related intangible assets with finite lives consist of know-how and developed technologies. These assets are amortized on a straight-line basis over the estimated useful lives of three five Impairment of Long-Lived Assets The Company evaluates its long-lived assets other than goodwill for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may The Company tests goodwill for impairment at least annually in the fourth may first two first second Other Long-Term Assets Other assets primarily consist of investments related to the employee deferred compensation plan, intangible assets for the land use rights in Chengdu, China, certain prepaid wafer purchases and purchased patents. The Company amortizes the land use rights over 50 five Deferred Compensation Plan The Company has a non-qualified, unfunded deferred compensation plan, which provides certain key employees, including executive management, with the ability to defer the receipt of compensation in order to accumulate funds for retirement on a tax deferred basis. The Company does not make contributions to the plan or guarantee returns on the investments. The Company is responsible for the plan’s administrative expenses. Participants’ deferrals and investment gains and losses remain as the Company’s liabilities and the underlying assets are subject to claims of general creditors. The liabilities for compensation deferred under the plan are recorded at fair value in each reporting period. Changes in the fair value of the liabilities are recorded as an operating expense (credit) in the Consolidated Statements of Operations. The Company manages the risk of changes in the fair value of the liabilities by electing to match the liabilities with investments in corporate-owned life insurance policies and mutual funds that offset a substantial portion of the exposure. The investments are recorded at the cash surrender value of the corporate-owned life insurance policies and at the fair value of the mutual funds, which are classified as trading securities. Changes in the cash surrender value of the corporate-owned life insurance policies and the fair value of mutual fund investments are included in interest and other income, net in the Consolidated Statements of Operations. The following table summarizes the deferred compensation plan amounts in the Consolidated Balance Sheets (in thousands): December 31, 2016 2015 Cash surrender value of corporate-owned life insurance policies $ 8,180 $ 5,706 Fair value of mutual funds 12,108 8,279 Total deferred compensation plan assets $ 20,288 $ 13,985 Deferred compensation plan assets reported in: Other long-term assets $ 20,288 $ 13,985 Deferred compensation plan liabilities reported in: Accrued compensation and related benefits (short-term) $ 479 $ - Other long-term liabilities 19,836 14,147 Total $ 20,315 $ 14,147 Warranty Reserves The Company generally provides a one two Revenue Recognition The Company recognizes revenue when the following four (1) (2) (3) (4) (3) (4) For the years ended December 31, 2016, 2015 2014, 88%, 88% 89% third (1) The price is fixed or determinable at the date of sale. The Company does not offer special payment terms (the Company’s normal payment terms are 30 45 or price adjustments to distributors when the Company recognizes revenue upon shipment. (2) The distributors are obligated to pay the Company and this obligation is not contingent on the resale of the Company’s products. (3) The distributors’ obligation is unchanged in the event of theft or physical destruction or damage to the products. (4) The distributors have stand-alone economic substance apart from the Company’s relationship. (5) The Company does not have any obligations for future performance to directly bring about the resale of its products by the distributors. (6) The amount of future returns can be reasonably estimated. The Company has the ability and the information necessary to track inventory sold to and held at its distributors. The Company maintains a history of returns and has the ability to estimate the stock rotation returns on a quarterly basis. Certain of the Company’s large distributors have contracts that include limited stock rotation rights that permit the return of a small percentage of the previous six December 31, 2016 2015, $1.9 $2.4 If the Company enters into arrangements with distributors that have price adjustment or other rights that are not fixed or determinable, the Company recognizes revenue under such arrangements only after the distributors have sold the products to end customers, at which time the price is no longer subject to adjustment and is fixed, and the products are no longer subject to return except pursuant to warranty terms. A small number of the Company’s U.S. distributors has such rights and accordingly, the Company defers revenue recognition on these shipments until the products are sold to the end customers by the distributors. The deferred revenue balance before the final price and other adjustments from these distributors as of December 31, 2016 2015 $3.7 $2.8 December 31, 2016 2015 $0.3 $0.2 Stock-Based Compensation The Company measures the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. The Company recognizes compensation expense equal to the grant-date fair value for all share-based payment awards that are expected to vest. Compensation expense related to awards with service conditions is recorded on a straight-line basis over the requisite service period. Compensation expense related to awards subject to market conditions or performance conditions is recognized over the requisite service period for each separately vesting tranche. For awards with only market conditions, compensation expense is not reversed if the market conditions are not satisfied. For awards with performance conditions, as well as awards containing both market conditions and performance conditions, the Company recognizes compensation expense when it becomes probable that the performance criteria set by the Board of Directors will be achieved. Management performs the probability assessment on a quarterly basis by reviewing external factors, such as macroeconomic conditions and the analog industry forecasts, and internal factors, such as the Company’s business and operations strategy, product roadmaps and revenue forecasts. Changes in the probability assessment of achievement of the performance conditions are accounted for in the period of change by recording a cumulative catch-up adjustment as if the new estimate had been applied since the service inception date. Any previously recognized compensation expense is reversed if the performance conditions are not expected to be satisfied. The Company recognized stock-based compensation expense less an estimate for forfeitures. Effective January 1, 2017, 2016 09 Research and Development Costs incurred in research and development are expensed as incurred. Accounting for Income Taxes The Company recognizes federal, state and foreign current tax liabilities or assets based on its estimate of taxes payable or refundable in the current fiscal year by tax jurisdiction. The Company also recognizes federal, state and foreign deferred tax assets or liabilities for its estimate of future tax effects attributable to temporary differences and carryforwards. The Company records a valuation allowance to reduce any deferred tax assets by the amount of any tax benefits that, based on available evidence and judgment, are not expected to be realized. The Company’s calculation of current and deferred tax assets and liabilities is based on certain estimates and judgments and involves dealing with uncertainties in the application of complex tax laws. The Company’s estimates of current and deferred tax assets and liabilities may 50% may Litigation and Contingencies The Company is a party to actions and proceedings in the ordinary course of business, including potential litigation regarding its shareholders and its intellectual property, challenges to the enforceability or validity of its intellectual property, claims that the Company’s products infringe on the intellectual property rights of others, and employment matters. The pending proceedings involve complex questions of fact and law and will require the expenditure of significant funds and the diversion of other resources to prosecute and defend. In addition, from time to time, the Company becomes aware that it is subject to other contingent liabilities. When this occurs, the Company will evaluate the appropriate accounting for the potential contingent liabilities to determine whether a contingent liability should be recorded. In making this determination, management may, may Litigation expense (benefit), net in the Consolidated Statements of Operations includes primarily patent infringement litigation and other business matters. The Company records litigation costs in the period in which they are incurred. Proceeds resulting from settlement of litigation or favorable judgments are recorded as a reduction against litigation expense. Net Income per Share Basic net income per share is computed by dividing net income by the weighted-average number of common shares outstanding for the period. Diluted net income per share reflects the potential dilution that would occur if outstanding securities or other contracts to issue common stock were exercised or converted into common stock, and calculated using the treasury stock method. Contingently issuable shares, including equity awards with performance conditions or market conditions, are considered outstanding common shares and included in the basic net income per share as of the date that all necessary conditions to earn the awards have been satisfied. Prior to the end of the contingency period, the number of contingently issuable shares included in the diluted net income per share is based on the number of shares, if any, that would be issuable under the terms of the arrangement at the end of the reporting period. The Company’s outstanding RSUs contain forfeitable rights to receive cash dividend equivalents, which are accumulated and paid to the employees when the underlying RSUs vest. Dividend equivalents accumulated on the underlying RSUs are forfeited if the employees do not fulfill their service requirement and the awards do not vest. Accordingly, these awards are not treated as participating securities in the net income per share calculation. Comprehensive Income Comprehensive income represents the change in the Company’s net assets during the period from non-owner sources. Accumulated other comprehensive income (loss) presented in the Consolidated Balance Sheets primarily consists of unrealized gains and losses related to available-for-sale investments and foreign currency translation adjustments. Recent Accounting Pronouncements Stock -Based Compensation: In March 2016, 2016 09, Compensation—Stock Compensation (Topic 718): December 15, 2016. January 1, 2017 ● The Company elected to account for forfeitures of equity awards when they occur. The change was applied on a modified retrospective basis with a cumulative-effect adjustment of approximately $5.1 January 1, 2017. ● All excess tax benefits and deficiencies will be recognized in the income tax provision in the Consolidated Statements of Operations prospectively, rather than in additional paid-in-capital in the Consolidated Balance Sheets. In addition, the standard eliminates the requirement to defer recognition of excess tax benefits until they are realized through a reduction to income taxes payable. The Company applied the modified retrospective method and there was no adjustment to retained earnings as of January 1, 2017, ● The Company will present excess tax benefits as an operating activity in the Consolidated Statements of Cash Flows on a prospective basis. In addition, the Company will present cash payments made to tax authorities in connection with shares withheld to meet statutory tax withholding requirements as a financing activity in the Consolidated Statements of Cash Flows on a retrospective basis. Revenue Recognition: In May 2014, 2014 09, Revenue from Contracts with Customers (Topic 606), The standard defines a five December 15, 2017. December 15, 2016. not plan to early adopt, and accordingly, the Company will adopt the new standard effective January 1, 2018. While the Company continues to assess the new standard on its accounting policies, processes and system requirements, the primary impact includes the timing of recognition of revenue with certain distributors in the U.S. Currently, sales to these distributors are made under agreements which provide these distributors with price adjustment and other rights. The Company determines that uncertainties on the sales price exist under these arrangements primarily because the amount of price adjustments to be claimed by the distributors is not fixed or determinable. As a result, revenue and costs related to these sales are deferred until the Company receives notification from the distributors that products have been sold to the end customers and the amount of price adjustments is finalized. Under the new standard, the transaction price takes into consideration the effect of variable consideration, which is estimated at the time the promised goods are transferred to the customers. Accordingly, the Company will be required to recognize revenue at the time of shipments to the distributors, adjusted for an estimate of the price adjustments based on the information available at the time. This change will only impact the Company's accounting for arrangements with certain distributors in the U.S. Revenue from non-U.S. distributors, which make up the majority of the total distributor sales, is currently recognized at the time of shipments to the distributors because these arrangements do not contain price adjustments, or other amounts that are not fixed or determinable. The new standard permits adoption either by using (i) a full retrospective approach for all periods presented in the period of adoption or (ii) a modified retrospective approach with the cumulative effect of initially applying the new standard recognized at the date of initial application and providing certain additional disclosures. A final decision regarding the adoption method has not been finalized at this time. While the Company continues to assess the potential impact of the provisions in the new standard, including the areas described above, the Company cannot reasonably estimate quantitative information related to the impact of the new standard on its financial statements at this time. Others: In February 2016, 2016 02, Leases (Topic 842), 12 December 15, 2018, In June 2016, 2016 13, Financial Instruments – Credit Losses (Topic 326): December 15, 2019, December 15, 2018. In January 2017, 2017 04, Intangibles – Goodwill and Other (Topic 350): two December 15, 2019. January 1, 2017. |
Note 2 - Acquisition
Note 2 - Acquisition | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | 2. On July 22, 2014 100% three The fair value of the purchase consideration as of the Acquisition Date consisted of the following (in thousands): Cash paid at the Acquisition Date $ 11,735 Contingent consideration 2,507 Total $ 14,242 The Company incurred $0.6 December 31, 2014. Cash paid at the Acquisition Date included $1.2 one July 22, 2015. The contingent consideration arrangement required the Company to pay up to an additional $8.9 2016. $2.5 fourth 2015, 2016 $0 December 31, 2015, $2.5 December 31, 2016, no 2016 Purchase Consideration Allocation The fair value of assets acquired and liabilities assumed as of the Acquisition Date was as follows (in thousands): Cash $ 145 Other tangible assets acquired, net of liabilities assumed 42 Intangible assets: Know-how 1,018 Developed technologies 4,421 IPR&D 2,045 Total identifiable net assets acquired 7,671 Goodwill 6,571 Total net assets acquired $ 14,242 Intangible assets with finite lives included know-how and developed technologies with estimated useful lives of three five third 2015, four Goodwill arising from the acquisition was primarily attributed to synergies which enable the Company to develop advanced solutions in power management by integrating Sensima’s magnetic sensor technologies. Goodwill is not deductible for tax purposes. Equity Awards On the Acquisition Date, the Board of Directors granted $1.7 40,000 four $2.0 47,000 four $8.0 July 22, 2019. 50% two December 31, 2016, $2.0 first |
Note 3 - Cash, Cash Equivalents
Note 3 - Cash, Cash Equivalents and Investments | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Cash, Cash Equivalents, and Marketable Securities [Text Block] | 3. The following is a summary of the Company’s cash, cash equivalents and short-term and long-term investments (in thousands): December 31, 2016 2015 Cash, cash equivalents and investments: Cash $ 87,747 $ 58,217 Money market funds 24,956 31,640 Certificates of deposit - 21,574 Corporate debt securities 109,644 - U.S. treasuries and government agency bonds 45,877 123,532 Auction-rate securities backed by student-loan notes 5,354 5,361 Total $ 273,578 $ 240,324 December 31, 2016 2015 Reported as: Cash and cash equivalents $ 112,703 $ 90,860 Short-term investments 155,521 144,103 Long-term investments 5,354 5,361 Total $ 273,578 $ 240,324 The contractual maturities of the Company’s short-term and long-term available-for-sale investments are as follows (in thousands): December 31, 2016 2015 Due in less than 1 year $ 47,568 $ 110,898 Due in 1 - 5 years 107,953 33,205 Due in greater than 5 years 5,354 5,361 Total $ 160,875 $ 149,464 The following tables summarize the unrealized gain and loss positions related to the Company’s investments in marketable securities designated as available-for sale (in thousands): December 31, 2016 Amortized Cost Unrealized Gains Unrealized Losses Total Fair Value Fair Value of Investments in Unrealized Loss Position Money market funds $ 24,956 $ - $ - $ 24,956 $ - Corporate debt securities 110,429 65 (850 ) 109,644 91,938 U.S. treasuries and government agency bonds 45,899 - (22 ) 45,877 39,275 Auction-rate securities backed by student-loan notes 5,570 - (216 ) 5,354 5,354 Total $ 186,854 $ 65 $ (1,088 ) $ 185,831 $ 136,567 December 31, 2015 Amortized Cost Unrealized Gains Unrealized Losses Total Fair Value Fair Value of Investments in Unrealized Loss Position Money market funds $ 31,640 $ - $ - $ 31,640 $ - Certificates of deposit 21,574 - - 21,574 - U.S. treasuries and government agency bonds 123,698 4 (170 ) 123,532 110,720 Auction-rate securities backed by student-loan notes 5,570 - (209 ) 5,361 5,361 Total $ 182,482 $ 4 $ (379 ) $ 182,107 $ 116,081 There were no December 31, 2016 2015. December 31, 2014, $4.7 31 December 31, 2016 2015, $0.2 ● Management possesses both the intent and ability to hold these securities for a period of time sufficient to allow for any anticipated recovery in fair value; ● Management believes that it is more likely than not that the Company will not have to sell these securities before recovery of its cost basis; ● Except for the credit loss of $70,000 December 31, 2009, ● The majority of the securities remain AAA or AA+ rated; ● All scheduled interest payments have been made pursuant to the reset terms and conditions; and ● All redemptions of these securities to date, representing 87% |
Note 4 - Fair Value Measurement
Note 4 - Fair Value Measurements | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 4. The following table details the fair value measurement of the financial assets (in thousands): Fair Value Measurement at December 31, 2016 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Total Level 1 Level 2 Level 3 Money market funds $ 24,956 $ 24,956 $ - $ - Corporate debt securities 109,644 - 109,644 - U.S. treasuries and government agency bonds 45,877 - 45,877 - Auction-rate securities backed by student-loan notes 5,354 - - 5,354 Mutual funds under deferred compensation plan 12,108 12,108 - - Total $ 197,939 $ 37,064 $ 155,521 $ 5,354 Fair Value Measurement at December 31, 2015 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Total Level 1 Level 2 Level 3 Money market funds $ 31,640 $ 31,640 $ - $ - Certificates of deposit 21,574 - 21,574 - U.S. treasuries and government agency bonds 123,532 - 123,532 - Auction-rate securities backed by student-loan notes 5,361 - - 5,361 Mutual funds under deferred compensation plan 8,279 8,279 - - Total $ 190,386 $ 39,919 $ 145,106 $ 5,361 _________________ ● Level 1—includes ● Level 2—includes , broker/dealer quotes or alternative pricing sources with reasonable levels of price transparency. Pricing sources may third ● Level 3—includes The Company’s level 3 7 35 2008. Balance at January 1, 2015 $ 5,389 Change in unrealized loss included in other comprehensive loss (28 ) Balance at December 31, 2015 5,361 Change in unrealized loss included in other comprehensive loss (7 ) Balance at December 31, 2016 $ 5,354 The Company determined the fair value of the auction-rate securities using a discounted cash flow model with the following assumptions: December 31, 2016 2015 Time-to-liquidity (months) 24 24 Discount rate 4.3% - 9.3% 4.3% - 7.3% |
Note 5 - Balance Sheet Componen
Note 5 - Balance Sheet Components | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Supplemental Balance Sheet Disclosures [Text Block] | 5. Inventories Inventories consist of the following (in thousands): December 31, 2016 2015 Raw materials $ 14,599 $ 14,907 Work in process 26,048 21,177 Finished goods 30,822 27,125 Total $ 71,469 $ 63,209 Other Current Assets Other current assets consist of the following (in thousands): December 31, 2016 2015 Prepaid wafer purchase $ 5,000 $ - Other prepaid expense 2,249 2,128 Other 1,794 798 Total $ 9,043 $ 2,926 Property and Equipment, Net Property and equipment, net, consist of the following (in thousands): December 31, 2016 2015 Production equipment and software $ 95,565 $ 92,208 Buildings and improvements 48,964 34,736 Transportation equipment 11,291 4,694 Land 8,285 5,600 Furniture and fixtures 3,518 2,962 Leasehold improvements 2,838 2,283 Property and equipment, gross 170,461 142,483 Less: accumulated depreciation and amortization (85,290 ) (77,124 ) Total $ 85,171 $ 65,359 Depreciation and amortization expense was $12.6 $12.0 $12.4 December 31, 2016, 2015 2014, Other Long-Term Assets Other long-term assets consist of the following (in thousands): December 31, 2016 2015 Deferred compensation plan assets $ 20,288 $ 13,985 Prepaid wafer purchase 5,000 - Other prepaid expense 1,117 1,257 Other 1,006 1,099 Total $ 27,411 $ 16,341 Accrued Liabilities Accrued liabilities consist of the following (in thousands): December 31, 2016 2015 Dividends and dividend equivalents $ 8,946 $ 8,675 Deferred revenue and customer prepayments 6,799 5,236 Stock rotation reserve 1,937 2,372 Income tax payable 1,239 465 Warranty 1,030 289 Commissions 1,008 763 Sales rebate 441 268 Other 1,516 1,916 Total $ 22,916 $ 19,984 Other Long-Term Liabilities Other long-term liabilities consist of the following (in thousands): December 31, 2016 2015 Deferred compensation plan liabilities $ 19,836 $ 14,147 Dividend equivalents 3,294 2,019 Other 89 379 Total $ 23,219 $ 16,545 |
Note 6 - Goodwill and Acquisiti
Note 6 - Goodwill and Acquisition-related Intangible Assets, Net | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | 6. There have been no December 31, 2016 2015. not December 31, 2016, 2015 2014. Acquisition-related intangible assets consist of the following (in thousands): December 31, 2016 Gross Amount Accumulated Amortization Net Amount Know-how $ 1,018 $ (500 ) $ 518 Developed technologies 6,466 (3,982 ) 2,484 Total $ 7,484 $ (4,482 ) $ 3,002 December 31, 2015 Gross Amount Accumulated Amortization Net Amount Know-how $ 1,018 $ (297 ) $ 721 Developed technologies 6,466 (2,134 ) 4,332 Total $ 7,484 $ (2,431 ) $ 5,053 Amortization expense is recorded in cost of revenue in the Consolidated Statements of Operations and totaled $2.1 $1.8 $0.7 December 31, 2016, 2015 2014, The estimated future amortization expense as of December 31, 2016 2017 $ 2,051 2018 841 2019 110 Total $ 3,002 |
Note 7 - Stock-based Compensati
Note 7 - Stock-based Compensation | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 7. 2004 “2004 The Board of Directors adopted the 2004 March 2004, November 2004. 2004 5% first 2.4 2004 November 12, 2014 2004 November 12, 2014, 2.9 2004 2014 “2014 The Board of Directors adopted the 2014 April 2013, June 2013. October 2014, 2014 2014 November 13, 2014 5.5 2014 November 13, 2024. December 31, 2016, 3.8 2014 Stock-Based Compensation Expense The Company recognized stock-based compensation expense as follows (in thousands): Year Ended December 31, 2016 2015 2014 Cost of revenue $ 1,575 $ 1,166 $ 903 Research and development 14,041 11,156 9,019 Selling, general and administrative 29,373 29,241 23,532 Total $ 44,989 $ 41,563 $ 33,454 In the first 2016, $2.9 three March 31, 2016. RSUs The Company’s RSUs include time-based RSUs, RSUs with performance conditions (“PSUs”), RSUs with market and performance conditions (“MPSUs”), and RSUs with market conditions (“MSUs”). Vesting of all awards requires continued service for the Company. In addition, vesting of awards with performance conditions or market conditions is subject to the achievement of pre-determined performance goals. A summary of RSU activity is presented in the table below (in thousands, except per-share amounts): Time-Based RSUs Weighted- Average Grant Date Fair Value Per Share PSUs and MPSUs Weighted- Average Grant Date Fair Value Per Share MSUs Weighted- Average Grant Date Fair Value Per Share Total Weighted- Average Grant Date Fair Value Per Share Outstanding at January 1, 2014 754 $ 19.41 1,028 $ 23.02 1,800 $ 23.57 3,582 $ 22.53 Granted 335 $ 36.71 952 (1) $ 34.65 - $ - 1,287 $ 35.19 Released (468 ) $ 20.36 (304 ) $ 18.12 - $ - (772 ) $ 19.48 Forfeited (32 ) $ 19.75 (17 ) $ 19.79 - $ - (49 ) $ 19.77 Outstanding at December 31, 2014 589 $ 28.48 1,659 $ 28.11 1,800 $ 23.57 4,048 $ 26.14 Granted 271 $ 49.82 927 (1) $ 47.61 - $ - 1,198 $ 48.11 Released (319 ) $ 26.56 (629 ) $ 23.40 - $ - (948 ) $ 24.47 Forfeited (42 ) $ 35.60 (24 ) $ 28.68 - $ - (66 ) $ 33.06 Outstanding at December 31, 2015 499 $ 40.75 1,933 $ 38.99 1,800 $ 23.57 4,232 $ 32.64 Granted 133 $ 63.00 1,216 (1) $ 41.12 - $ - 1,349 $ 43.28 Released (239 ) $ 36.43 (736 ) $ 29.71 - $ - (975 ) $ 31.36 Forfeited (27 ) $ 45.35 (129 ) $ 36.82 (180 ) $ 23.57 (336 ) $ 30.38 Outstanding at December 31, 2016 366 $ 51.35 2,284 $ 43.24 1,620 $ 23.57 4,270 $ 36.47 _________________ (1) Amount reflects the number of PSUs and MPSUs that may The intrinsic value related to awards released was $62.9 $49.2 $28.9 December 31, 2016, 2015 2014, December 31, 2016, $332.9 $81.93. December 31, 2016, $84.8 four Time-Based RSUs: For the years ended December 31, 2016, 2015 2014, 133,000, 271,000 335,000 four one 2016 In February 2016, 285,000 two (2016 2017) two (“2016 300% 2016 50% 2016 first 2018 2016 two March 2016, 32,000 2016 July 2016, 12,000 2016 2016 $31.8 In February 2016, 64,000 2017 two (2016 2017) two (“2016 200% 300% 2016 50% 2016 first 2018 2016 two 2016 $6.0 The 2016 2016 $20 2016 2016 February 2016 $58.98, 2.6 31.1% 0.9%. 2016 July 2016, $70.98, 2.3 29.6% 0.7%. 2015 On December 31, 2015, 127,000 (“2015 500% 2015 2015 four December 31, 2019. first five $71.36 $95.57 four second, third fourth five (1) 20 (2) second, third fourth one six 1. Successful implementation of full digital solutions vs. current analog topology for certain products. 2. Successful implementation, and adoption by a key player, of integrated, software-based field-oriented-control with sensors to motor drivers. 3. Successful implementation of certain advanced power analog processes. 4. Successful design wins and achievement of a specific level of revenue with a global networking customer. 5. Achievement of a specific level of revenue with a global electronics manufacturer. 6. Achievement of a specific level of market share with certain core power products. Subject to the employees’ continued employment with the Company, the 2015 January 1, 2020 2015 two The Company determined the grant date fair value of the 2015 $61.35, 33.2%, 1.3%, 7.8% March 2016, 13,000 2015 2015 $24.6 $8.3 first $4.5 second $5.2 third $6.6 fourth For the first second, third fourth December 31, 2016, three six second, third fourth 2015 In February 2015, 172,000 two (2015 2016) two (“2015 300% 2015 50% 2015 first 2017 2015 two March 2016, 19,000 2015 In February 2017, 2015 432,000 2015 $21.0 In February 2015, 58,000 2016 two (2015 2016) two (“2015 200% 300% 2015 50% 2015 first 2017 2015 two In February 2017, 2015 118,000 2015 $5.7 2014 In February 2014, 252,000 two (2014 2015) two (“2014 300% 2014 February 2016, 2014 694,000 50% 2014 first 2016. 2014 two March 2016, 37,000 2014 2014 $20.7 In April 2014, 61,000 2015 two (2014 2015) two (“2014 200% 300% 2014 February 2016, 2014 103,000 50% 2014 second 2016. 2014 two 2014 $3.7 In connection with the acquisition of Sensima in July 2014, 2 2013 In February 2013, 220,000 2014 (“2013 300% 2013 February 2015, 2013 622,000 50% 2013 first 2015 two March 2016, 18,000 2013 2013 $15.0 In February 2013, 91,000 2014 (“2013 200% 300% 2013 February 2015, 2013 154,000 50% 2013 first 2015 two 2013 $3.0 2013 In December 2013, 360,000 five $40.00 $56.00 five January 1, 2014 December 31, 2018 (“2013 500% 2013 2013 January 1, 2019 December 31, 2023 December 31, 2015, five 1.8 March 2016, 36,000 2013 The Company determined the grant date fair value of the 2013 $31.73, 38.7% 1.6%. 2013 $38.2 Stock Options No stock options were granted for the years ended December 31, 2016, 2015 2014. Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term Aggregate Intrinsic Value (in thousands) (in years) (in thousands) Outstanding at January 1, 2014 1,356 $ 15.86 1.9 $ 25,506 Exercised (742 ) $ 16.09 Forfeited and expired (24 ) $ 10.07 Outstanding at December 31, 2014 590 $ 15.80 1.2 $ 20,039 Exercised (498 ) $ 15.55 Forfeited and expired (2 ) $ 6.10 Outstanding at December 31, 2015 90 $ 17.50 1.3 $ 4,134 Exercised (76 ) $ 17.80 Outstanding at December 31, 2016 14 $ 15.88 1.0 $ 921 Options exercisable at December 31, 2016 and expected to vest 14 $ 15.88 1.0 $ 921 Options exercisable at December 31, 2016 14 $ 15.88 1.0 $ 921 Total intrinsic value of options exercised was $3.7 $18.6 $17.3 December 31, 2016, 2015 2014, $1.3 $7.7 $11.9 December 31, 2016, 2015 2014, December 31, 2016, 2004 Under the ESPP, eligible employees may may 2,000 six $25,000 1.0 2% first December 31, 2016, 4.6 For the years ended December 31, 2016, 2015 2014, 53,000, 56,000 78,000 $1.0 $0.6 $0.9 December 31, 2016, 2015 2014, December 31, 2016 $93,000, first 2017. Year Ended December 31, 2016 2015 2014 Expected term (years) 0.5 0.5 0.5 Expected volatility 28.6 % 30.3 % 29.4 % Risk-free interest rate 0.4 % 0.2 % 0.1 % Dividend yield 1.2 % 1.4 % 0.7 % Cash proceeds from the shares issued under the ESPP were $2.5 $2.2 $2.1 December 31, 2016, 2015 2014, |
Note 8 - Stock Repurchase Progr
Note 8 - Stock Repurchase Programs | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Common Stock Repurchases [Text Block] | 8 . STOCK REPURCHASE PROGRAMS In July 2013, “2013 $100 June 30, 2015. April 2015, 2013 December 31, 2015. 2013 December 31, 2015 $5.9 2013 In February 2016, “2016 $50 December 31, 2016. December 2016, 2016 December 31, 2017. The following table summarizes the repurchase activity under the programs (in thousands, except per-share amounts): Year Ended December 31, 2016 2015 2014 Shares repurchased - 645 1,051 Average price per share $ - $ 50.05 $ 39.19 Total amount $ - $ 32,286 $ 41,198 As of December 31, 2016, $50 2016 |
Note 9 - Dividends and Dividend
Note 9 - Dividends and Dividend Equivalents | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Dividends And Dividend Equivalents [Text Block] | 9. Cash Dividend Program In June 2014, Year Ended December 31, 2016 2015 2014 Dividend declared per share $ 0.80 $ 0.80 $ 0.45 Total amount $ 32,434 $ 31,618 $ 17,466 As of December 31, 2016 2015, $8.2 $7.9 The declaration of any future cash dividends is at the discretion of the Board of Directors and will depend on, among other things, the Company’s financial condition, results of operations, capital requirements, business conditions, statutory requirements of Delaware law, compliance with the terms of future indebtedness and credit facilities and other factors that the Board of Directors may may Cash Dividend Equivalent Rights Under the Company’s stock plans, outstanding RSUs contain rights to receive cash dividend equivalents, which entitle employees who hold RSUs to the same dividend value per share as holders of common stock. The dividend equivalents are accumulated and paid to the employees when the underlying RSUs vest. Dividend equivalents accumulated on the underlying RSUs are forfeited if the employees do not fulfill their service requirement and the awards do not vest. As of December 31, 2016 2015, $4.1 $2.8 |
Note 10 - Interest and Other In
Note 10 - Interest and Other Income, Net | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Other Nonoperating Income and Expense [Text Block] | 10. The components of interest and other income, net are as follows (in thousands): Year Ended December 31, 2016 2015 2014 Interest income $ 2,488 $ 1,608 $ 1,112 Amortization of premium on available-for-sale investments (1,019 ) (463 ) (237 ) Gain (loss) on employee deferred compensation plan investments 1,257 (375 ) 141 Foreign currency exchange gain 65 608 80 Other 26 43 (4 ) Total $ 2,817 $ 1,421 $ 1,092 |
Note 11 - Net Income Per Share
Note 11 - Net Income Per Share | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 1 1 . NET INCOME PER SHARE The following table sets forth the computation of basic and diluted net income per share (in thousands, except per share amounts): Year Ended December 31, 2016 2015 2014 Numerator: Net income $ 52,720 $ 35,172 $ 35,495 Denominator: Weighted-average outstanding shares used to compute basic net income per share 40,436 39,470 38,686 Effect of dilutive securities 1,479 1,399 1,107 Weighted-average outstanding shares used to compute diluted net income per share 41,915 40,869 39,793 Net income per share: Basic $ 1.30 $ 0.89 $ 0.92 Diluted $ 1.26 $ 0.86 $ 0.89 Anti-dilutive common stock equivalents were not material in any of the periods presented. |
Note 12 - Income Taxes
Note 12 - Income Taxes | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 1 2 . INCOME TAXES The components of income before income taxes are as follows (in thousands): Year Ended December 31, 2016 2015 2014 United States $ (14,431 ) $ (247 ) $ 3,173 International 71,695 42,738 33,219 Total income before income taxes $ 57,264 $ 42,491 $ 36,392 Management’s intent is to indefinitely reinvest any undistributed earnings from its foreign subsidiaries. Accordingly, no December 31, 2016 2015, $284.8 $214.3 The components of the income tax provision are as follows (in thousands): Year Ended December 31, 2016 2015 2014 Current: Federal $ 2,527 $ 6,042 $ 18 State - 2 (28 ) Foreign 2,013 1,213 943 Deferred: Foreign 4 62 (36 ) Total income tax provision $ 4,544 $ 7,319 $ 897 The effective tax rate differs from the applicable U.S. statutory federal income tax rate as follows: Year Ended December 31, 2016 2015 2014 U.S. statutory federal tax rate 34.0 % 34.0 % 34.0 % Settlement with tax authorities - 6.2 - Foreign income at lower rates (41.1 ) (43.1 ) (27.7 ) Changes in valuation allowance 11.0 17.6 5.9 Stock-based compensation 2.2 - (9.3 ) Reserves and other 1.8 2.5 (0.4 ) Effective tax rate 7.9 % 17.2 % 2.5 % The components of net deferred tax assets consist of the following (in thousands): December 31, 2016 2015 Deferred tax assets: Research tax credits $ 9,817 $ 8,869 Deferred compensation 6,752 5,038 Stock-based compensation 7,283 1,912 Other expenses not currently deductible 3,974 3,519 Depreciation and amortization 161 (52 ) Total deferred tax assets 27,987 19,286 Valuation allowance (27,354 ) (18,614 ) Net deferred tax assets $ 633 $ 672 As a result of the cost sharing arrangements with the Company’s international subsidiaries (cost share arrangements), relatively small changes in costs that are not subject to sharing under the cost share arrangements can significantly impact the overall profitability of the U.S. entity. Because of the U.S. entity’s inconsistent earnings history and uncertainty of future earnings, the Company has determined that it is more likely than not that the U.S. deferred tax benefits would not be realized. The Company will continue to evaluate if its facts and circumstances warrant a reversal of the valuation allowance against the U.S. deferred tax benefits in future periods. As of December 31, 2016 2015, $27.4 $18.6 As of December 31, 2016, December 31, 2016, $20.3 2017. $20.3 As of December 31, 2016, $17.8 2026, $18.3 $8.1 $1.8 Upon adoption of ASU No. 2016 09 January 1, 2017, The Company applied the modified retrospective method and there was no adjustment to retained earnings as of January 1, 2017, In the event of a change in ownership, as defined under federal and state tax laws, the Company's net operating loss and tax credit carryforwards could be subject to annual limitations. The annual limitations could result in the expiration of the net operating loss and tax credit carryforwards prior to utilization. The Protecting Americans from Tax Hikes (“PATH”) Act of 2015 January 1, 2015. $2.2 2016. On July 27, 2015, Altera Corp. v. Commissioner December 2015, February 2016. December 31, 2016. At December 31, 2016, $14.4 $3.5 December 31, 2015, $12.1 $2.7 A reconciliation of the gross unrecognized tax benefits is as follows (in thousands): Balance as at January 1, 2014 $ 14,922 Increase for tax position of prior year 584 Increase for tax position of current year 1,760 Decrease due to lapse of statue of limitation (860 ) Balance as of December 31, 2014 16,406 Increase for tax position of current year 1,964 Decrease related to settlement with tax authorities (4,162 ) Decrease due to lapse of statue of limitation (669 ) Decrease for tax position of prior year (1,446 ) Balance as of December 31, 2015 12,093 Increase for tax position of prior year 243 Increase for tax position of current year 2,095 Balance as of December 31, 2016 $ 14,431 The Company recognizes interest and penalties, if any, related to uncertain tax positions in its income tax provision. As of December 31, 2016 2015, $0.3 $0.2 Uncertain tax positions relate to the allocation of income and deductions among the Company’s global entities and to the determination of the research and development tax credit. It is reasonably possible that over the next twelve may The Company currently has reduced tax rates in its subsidiaries in Chengdu and Hangzhou, China for performing research and development activities through 2017 2019, 2018. Income Tax Examinations The Company is subject to examination of its income tax returns by the Internal Revenue Service (“IRS”) and other tax authorities. The Company’s U.S. Federal income tax return for the year ended December 31, 2014 2016. January 2017, The Company’s U.S. Federal income tax returns for the years ended December 31, 2005 December 31, 2007 April 2011, January 1, 2004. February 2012, April 2011 $10.5 May 2012. June 2013, 2014 first 2015. 2005 2007 September 30, 2015. The IRS also audited the research and development credits carried forward into year 2005 2005 2007. February 2011, 2005 2007 In April 2015, 2005 2007. one $1.2 one $1.0 $0.1 2008 2013 2015. For the second 2015, one $2.7 $2.7 $1.6 $1.1 |
Note 13 - Commitments and Conti
Note 13 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 1 3 . COMMITMENTS AND CONTINGENCIES Lease Obligations As of December 31, 2016, 2017 $ 969 2018 368 2019 249 2020 114 Total $ 1,700 The Company leases warehouse space, sales and marketing, and research and development offices in China, Japan, Korea, the United States and Europe. Certain of the Company’s facility leases provide for periodic rent increases. Rent expense for the years ended December 31, 2016, 2015 2014 $1.7 $1.8 $1.5 Warranty and Indemnification Provisions The changes in warranty reserves are as follows (in thousands): Year Ended December 31, 2016 2015 2014 Balance at beginning of period $ 289 $ 240 $ 451 Warranty provision for product sales 1,102 333 282 Settlements made (68 ) (158 ) (42 ) Unused warranty provision (293 ) (126 ) (451 ) Balance at end of period $ 1,030 $ 289 $ 240 The Company provides indemnification agreements to certain direct or indirect customers. The Company agrees to reimburse these parties for any damages, costs and expenses incurred by them as a result of legal actions taken against them by third It is not possible to predict the maximum potential amount of future payments under these agreements due to the limited history of indemnification claims and the unique facts and circumstances involved in each particular agreement. There were no |
Note 14 - Litigation
Note 14 - Litigation | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Legal Matters and Contingencies [Text Block] | 1 4 . LITIGATION The Company is a party to actions and proceedings in the ordinary course of business, including potential litigation regarding its shareholders and its intellectual property, challenges to the enforceability or validity of its intellectual property, claims that the Company’s products infringe on the intellectual property rights of others, and employment matters. These proceedings often involve complex questions of fact and law and may Silergy In December 2016, $3.0 $0.6 December 31, 2016. $2.4 five O2 In May 2012, O2 (“O2 $9.1 2010. $0.3 O2 October 2012, O2 August 2013, O2 September 2013, O2 O2 October 2013. In November 2013, $9.5 O2 January 2014, O2 O2 $9.5 O2 $9.5 December 31, 2013. In March 2014, O2 $9.5 first 2014. $0.5 |
Note 15 - Employee 401(k) Plan
Note 15 - Employee 401(k) Plan | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | 1 5 . EMPLOYEE 401(k) The Company sponsors a 401(k) may not December 31, 2016, 2015 2014. |
Note 16 - Significant Customers
Note 16 - Significant Customers | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | 1 6 . SIGNIFICANT CUSTOMERS The Company sells its products primarily through third 10% Year Ended December 31, Customer 2016 2015 2014 Distributor A 22 % 24 % 26 % The following table summarizes those customers with accounts receivable balances greater than 10% December 31, Customer 2016 2015 Distributor A 19 % 28 % Distributor B 17 % 17 % Both of the customers are third may may |
Note 17 - Segment and Geographi
Note 17 - Segment and Geographic Information | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 1 7 . SEGMENT AND GEOGRAHPIC INFORMATION The Company operates in one The following is a summary of revenue by geographic regions (in thousands): Year Ended December 31, Country or Region 2016 2015 2014 China $ 245,169 $ 213,119 $ 181,050 Taiwan 45,414 41,521 38,460 Korea 27,710 20,519 14,362 Europe 27,554 22,603 19,830 Southeast Asia 19,645 18,592 13,993 Japan 14,318 9,727 8,251 United States 8,567 6,732 6,392 Other 288 254 197 Total $ 388,665 $ 333,067 $ 282,535 The following is a summary of revenue by market segments (in thousands): Year Ended December 31, Market Segment 2016 2015 2014 Consumer $ 153,732 $ 145,090 $ 122,733 Industrial 89,639 66,343 49,037 Computing and storage 80,562 56,568 46,147 Communications 64,732 65,066 64,618 Total $ 388,665 $ 333,067 $ 282,535 The following is a summary of revenue by major product families (in thousands): Year Ended December 31, Product Family 2016 2015 2014 DC to DC $ 350,930 $ 299,726 $ 253,083 Lighting Control 37,735 33,341 29,452 Total $ 388,665 $ 333,067 $ 282,535 The following is a summary of long-lived assets by geographic regions (in thousands): December 31, Country 2016 2015 United States $ 50,242 $ 40,405 China 45,728 40,738 Bermuda 9,573 11,624 Taiwan 8,919 126 Other 571 431 Total $ 115,033 $ 93,324 |
Note 18 - Accumulated Other Com
Note 18 - Accumulated Other Comprehensive Income (Loss) | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | 1 8 . ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table summarizes the changes in accumulated other comprehensive income (loss) (in thousands): Unrealized Losses on Available-for- Sale Securities Foreign Currency Translation Adjustments Total Balance as of January 1, 2015 $ (196 ) $ 6,007 $ 5,811 Other comprehensive loss before reclassifications (174 ) (4,166 ) (4,340 ) Amounts reclassified from accumulated other comprehensive income (5 ) - (5 ) Net current period other comprehensive loss (179 ) (4,166 ) (4,345 ) Balance as of December 31, 2015 (375 ) 1,841 1,466 Other comprehensive loss before reclassifications (623 ) (5,033 ) (5,656 ) Amounts reclassified from accumulated other comprehensive income (loss) (25 ) - (25 ) Net current period other comprehensive loss (648 ) (5,033 ) (5,681 ) Balance as of December 31, 2016 $ (1,023 ) $ (3,192 ) $ (4,215 ) The amounts reclassified from accumulated other comprehensive income (loss) were recorded in interest and other income, net, in the Consolidated Statements of Operations. |
Note 19 - Quarterly Financial D
Note 19 - Quarterly Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | 19 . QUARTERLY FINANCIAL DATA (UNAUDITED) Three Months Ended December 31, 2016 September 30, 2016 June 30, 2016 March 31, 2016 (in thousands, except per share amounts) Revenue $ 103,618 $ 106,456 $ 94,079 $ 84,512 Cost of revenue 47,107 48,531 43,153 39,002 Gross profit 56,511 57,925 50,926 45,510 Operating expenses: Research and development 17,974 20,472 17,876 17,321 Selling, general and administrative 21,316 22,397 21,531 17,768 Litigation expense (benefit), net (321 ) 55 (8 ) 45 Total operating expenses 38,969 42,924 39,399 35,134 Income from operations 17,542 15,001 11,527 10,376 Interest and other income, net 897 780 597 543 Income before income taxes 18,439 15,781 12,124 10,919 Income tax provision 1,866 1,408 926 344 Net income $ 16,573 $ 14,373 $ 11,198 $ 10,575 Net income per share: Basic $ 0.41 $ 0.35 $ 0.28 $ 0.26 Diluted $ 0.39 $ 0.34 $ 0.27 $ 0.25 Weighted-average shares outstanding: Basic 40,739 40,590 40,387 40,028 Diluted 42,404 41,895 41,716 41,646 Cash dividends declared per common share $ 0.20 $ 0.20 $ 0.20 $ 0.20 Three Months Ended December 31, 2015 September 30, 2015 June 30, 2015 March 31, 2015 (in thousands, except per share amounts) Revenue $ 86,918 $ 91,194 $ 81,416 $ 73,538 Cost of revenue 40,001 41,754 37,287 33,855 Gross profit 46,917 49,440 44,129 39,683 Operating expenses: Research and development 16,734 17,272 15,743 16,038 Selling, general and administrative 18,107 18,722 17,964 17,518 Litigation expense 283 136 311 270 Total operating expenses 35,124 36,130 34,018 33,826 Income from operations 11,793 13,310 10,111 5,857 Interest and other income (expense), net 550 (6 ) 235 642 Income before income taxes 12,343 13,304 10,346 6,499 Income tax provision 2,233 2,103 2,447 536 Net income $ 10,110 $ 11,201 $ 7,899 $ 5,963 Net income per share: Basic $ 0.26 $ 0.28 $ 0.20 $ 0.15 Diluted $ 0.24 $ 0.28 $ 0.19 $ 0.15 Weighted-average shares outstanding: Basic 39,615 39,592 39,570 39,105 Diluted 41,445 40,689 40,745 40,596 Cash dividends declared per common share $ 0.20 $ 0.20 $ 0.20 $ 0.20 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Basis of Presentation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. Intercompany accounts and transactions have been eliminated in consolidation. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and reported amounts of revenue and expenses during the reporting period. Significant estimates and assumptions used in these consolidated financial statements primarily include those related to revenue recognition, inventory valuation, valuation of share-based awards, valuation of goodwill and acquisition-related intangible assets, contingencies and tax valuation allowances. Actual results could differ from those estimates. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Certain Significant Risks and Uncertainties Financial instruments which potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, short-term and long-term investments and accounts receivable. The Company’s cash consists of checking and savings accounts. The Company’s cash equivalents include short-term, highly liquid investments purchased with remaining maturities at the date of purchase of three The Company participates in the dynamic high technology industry and believes that changes in any of the following areas could have a material adverse effect on its future financial position, results of operations or cash flows: advances and trends in new technologies and industry standards; competitive pressures in the form of new products or price reductions on current products; changes in product mix; changes in the overall demand for products offered by the Company; changes in third |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Currency In general, the functional currency of the Company’s international subsidiaries is the local currency. The primary subsidiaries are located in China and Taiwan, which utilize the Renminbi and the New Taiwan Dollar as their currencies, respectively. Accordingly, assets and liabilities of the foreign subsidiaries are translated using exchange rates in effect at the end of the period. Revenue and costs are translated using average exchange rates for the period. The resulting translation adjustments are presented as a separate component of accumulated other comprehensive income (loss) in stockholders’ equity in the Consolidated Balance Sheets. In addition, the Company incurs foreign currency exchange gains or losses related to certain intercompany transactions between the U.S. and its foreign subsidiaries that are denominated in a currency other than the functional currency. In connection with the settlement and remeasurement of the balances, the Company recorded gains of $0.1 $0.6 $0.1 December 31, 2016, 2015 2014, reported in interest and other income, net, in the Consolidated Statements of Operations. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents The Company classifies all highly liquid investments with stated maturities of three |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three Level 1: Level 2: Level 3: The Company’s financial instruments include cash and cash equivalents, and short-term and long-term investments. Cash equivalents are stated at cost, which approximates fair market value. The Company’s short-term and long-term investments are classified as available-for-sale securities and are stated at their fair market value. Premiums and discounts are amortized or accreted over the life of the related available-for-sale securities. Interest income is recognized when earned. The Company determines whether an impairment is temporary or other-than temporary. Unrealized gains or losses that are deemed to be temporary are recorded as a component of accumulated other comprehensive income (loss) in stockholders’ equity in the Consolidated Balance Sheets, and changes in unrealized gains or losses are recorded in the Consolidated Statements of Comprehensive Income. The Company records an impairment charge in interest and other income, net, in the Consolidated Statements of Operations when an available-for-sale investment has experienced a decline in value that is deemed to be other-than-temporary. Other-than-temporary impairment exists when the Company either has the intent to sell the security, it will more likely than not be required to sell the security before anticipated recovery, or it does not expect to recover the entire amortized cost basis of the security. As of December 31, 2016 2015, $5.4 |
Inventory, Policy [Policy Text Block] | Inventories Inventories are stated at the lower of standard cost (which approximates actual cost determined on a first first may may |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment are stated at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Buildings and building improvements have estimated useful lives of 30 40 three seven 5 15 three five |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Goodwill and Acquisition-Related Intangible Assets Goodwill represents the excess of the fair value of purchase consideration over the fair value of net tangible and identified intangible assets as of the date of acquisition. In-process research and development (“IPR&D”) assets represent the fair value of incomplete R&D projects that had not reached technological feasibility as of the date of acquisition. The IPR&D assets are initially capitalized at fair value as intangible assets with indefinite lives and assessed for impairment at each reporting period. When the IPR&D projects are completed, they are reclassified as amortizable intangible assets and are amortized over their estimated useful lives. Alternatively, if the IPR&D projects are abandoned, they are impaired and expensed to research and development. Acquisition-related intangible assets with finite lives consist of know-how and developed technologies. These assets are amortized on a straight-line basis over the estimated useful lives of three five |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Impairment of Long-Lived Assets The Company evaluates its long-lived assets other than goodwill for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may The Company tests goodwill for impairment at least annually in the fourth may first two first second No |
Other Assets, Policy [Policy Text Block] | Other Long-Term Assets Other assets primarily consist of investments related to the employee deferred compensation plan, intangible assets for the land use rights in Chengdu, China, certain prepaid wafer purchases and purchased patents. The Company amortizes the land use rights over 50 five |
Deferred Compensation Plan, Policy [Policy Text Block] | Deferred Compensation Plan The Company has a non-qualified, unfunded deferred compensation plan, which provides certain key employees, including executive management, with the ability to defer the receipt of compensation in order to accumulate funds for retirement on a tax deferred basis. The Company does not make contributions to the plan or guarantee returns on the investments. The Company is responsible for the plan’s administrative expenses. Participants’ deferrals and investment gains and losses remain as the Company’s liabilities and the underlying assets are subject to claims of general creditors. The liabilities for compensation deferred under the plan are recorded at fair value in each reporting period. Changes in the fair value of the liabilities are recorded as an operating expense (credit) in the Consolidated Statements of Operations. The Company manages the risk of changes in the fair value of the liabilities by electing to match the liabilities with investments in corporate-owned life insurance policies and mutual funds that offset a substantial portion of the exposure. The investments are recorded at the cash surrender value of the corporate-owned life insurance policies and at the fair value of the mutual funds, which are classified as trading securities. Changes in the cash surrender value of the corporate-owned life insurance policies and the fair value of mutual fund investments are included in interest and other income, net in the Consolidated Statements of Operations. The following table summarizes the deferred compensation plan amounts in the Consolidated Balance Sheets (in thousands): December 31, 2016 2015 Cash surrender value of corporate-owned life insurance policies $ 8,180 $ 5,706 Fair value of mutual funds 12,108 8,279 Total deferred compensation plan assets $ 20,288 $ 13,985 Deferred compensation plan assets reported in: Other long-term assets $ 20,288 $ 13,985 Deferred compensation plan liabilities reported in: Accrued compensation and related benefits (short-term) $ 479 $ - Other long-term liabilities 19,836 14,147 Total $ 20,315 $ 14,147 |
Standard Product Warranty, Policy [Policy Text Block] | Warranty Reserves The Company generally provides a one two |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition The Company recognizes revenue when the following four (1) (2) (3) (4) (3) (4) For the years ended December 31, 2016, 2015 2014, 88%, 88% 89% third (1) The price is fixed or determinable at the date of sale. The Company does not offer special payment terms (the Company’s normal payment terms are 30 45 or price adjustments to distributors when the Company recognizes revenue upon shipment. (2) The distributors are obligated to pay the Company and this obligation is not contingent on the resale of the Company’s products. (3) The distributors’ obligation is unchanged in the event of theft or physical destruction or damage to the products. (4) The distributors have stand-alone economic substance apart from the Company’s relationship. (5) The Company does not have any obligations for future performance to directly bring about the resale of its products by the distributors. (6) The amount of future returns can be reasonably estimated. The Company has the ability and the information necessary to track inventory sold to and held at its distributors. The Company maintains a history of returns and has the ability to estimate the stock rotation returns on a quarterly basis. Certain of the Company’s large distributors have contracts that include limited stock rotation rights that permit the return of a small percentage of the previous six December 31, 2016 2015, $1.9 $2.4 If the Company enters into arrangements with distributors that have price adjustment or other rights that are not fixed or determinable, the Company recognizes revenue under such arrangements only after the distributors have sold the products to end customers, at which time the price is no longer subject to adjustment and is fixed, and the products are no longer subject to return except pursuant to warranty terms. A small number of the Company’s U.S. distributors has such rights and accordingly, the Company defers revenue recognition on these shipments until the products are sold to the end customers by the distributors. The deferred revenue balance before the final price and other adjustments from these distributors as of December 31, 2016 2015 $3.7 $2.8 December 31, 2016 2015 $0.3 $0.2 |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-Based Compensation The Company measures the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. The Company recognizes compensation expense equal to the grant-date fair value for all share-based payment awards that are expected to vest. Compensation expense related to awards with service conditions is recorded on a straight-line basis over the requisite service period. Compensation expense related to awards subject to market conditions or performance conditions is recognized over the requisite service period for each separately vesting tranche. For awards with only market conditions, compensation expense is not reversed if the market conditions are not satisfied. For awards with performance conditions, as well as awards containing both market conditions and performance conditions, the Company recognizes compensation expense when it becomes probable that the performance criteria set by the Board of Directors will be achieved. Management performs the probability assessment on a quarterly basis by reviewing external factors, such as macroeconomic conditions and the analog industry forecasts, and internal factors, such as the Company’s business and operations strategy, product roadmaps and revenue forecasts. Changes in the probability assessment of achievement of the performance conditions are accounted for in the period of change by recording a cumulative catch-up adjustment as if the new estimate had been applied since the service inception date. Any previously recognized compensation expense is reversed if the performance conditions are not expected to be satisfied. The Company recognized stock-based compensation expense less an estimate for forfeitures. Effective January 1, 2017, 2016 09 |
Research and Development Expense, Policy [Policy Text Block] | Research and Development Costs incurred in research and development are expensed as incurred. |
Income Tax, Policy [Policy Text Block] | Accounting for Income Taxes The Company recognizes federal, state and foreign current tax liabilities or assets based on its estimate of taxes payable or refundable in the current fiscal year by tax jurisdiction. The Company also recognizes federal, state and foreign deferred tax assets or liabilities for its estimate of future tax effects attributable to temporary differences and carryforwards. The Company records a valuation allowance to reduce any deferred tax assets by the amount of any tax benefits that, based on available evidence and judgment, are not expected to be realized. The Company’s calculation of current and deferred tax assets and liabilities is based on certain estimates and judgments and involves dealing with uncertainties in the application of complex tax laws. The Company’s estimates of current and deferred tax assets and liabilities may 50% may |
Litigation and Contingencies, Policy [Policy Text Block] | Litigation and Contingencies The Company is a party to actions and proceedings in the ordinary course of business, including potential litigation regarding its shareholders and its intellectual property, challenges to the enforceability or validity of its intellectual property, claims that the Company’s products infringe on the intellectual property rights of others, and employment matters. The pending proceedings involve complex questions of fact and law and will require the expenditure of significant funds and the diversion of other resources to prosecute and defend. In addition, from time to time, the Company becomes aware that it is subject to other contingent liabilities. When this occurs, the Company will evaluate the appropriate accounting for the potential contingent liabilities to determine whether a contingent liability should be recorded. In making this determination, management may, may Litigation expense (benefit), net in the Consolidated Statements of Operations includes primarily patent infringement litigation and other business matters. The Company records litigation costs in the period in which they are incurred. Proceeds resulting from settlement of litigation or favorable judgments are recorded as a reduction against litigation expense. |
Earnings Per Share, Policy [Policy Text Block] | Net Income per Share Basic net income per share is computed by dividing net income by the weighted-average number of common shares outstanding for the period. Diluted net income per share reflects the potential dilution that would occur if outstanding securities or other contracts to issue common stock were exercised or converted into common stock, and calculated using the treasury stock method. Contingently issuable shares, including equity awards with performance conditions or market conditions, are considered outstanding common shares and included in the basic net income per share as of the date that all necessary conditions to earn the awards have been satisfied. Prior to the end of the contingency period, the number of contingently issuable shares included in the diluted net income per share is based on the number of shares, if any, that would be issuable under the terms of the arrangement at the end of the reporting period. The Company’s outstanding RSUs contain forfeitable rights to receive cash dividend equivalents, which are accumulated and paid to the employees when the underlying RSUs vest. Dividend equivalents accumulated on the underlying RSUs are forfeited if the employees do not fulfill their service requirement and the awards do not vest. Accordingly, these awards are not treated as participating securities in the net income per share calculation. |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income Comprehensive income represents the change in the Company’s net assets during the period from non-owner sources. Accumulated other comprehensive income (loss) presented in the Consolidated Balance Sheets primarily consists of unrealized gains and losses related to available-for-sale investments and foreign currency translation adjustments. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements Stock -Based Compensation: In March 2016, 2016 09, Compensation—Stock Compensation (Topic 718): December 15, 2016. January 1, 2017 ● The Company elected to account for forfeitures of equity awards when they occur. The change was applied on a modified retrospective basis with a cumulative-effect adjustment of approximately $5.1 January 1, 2017. ● All excess tax benefits and deficiencies will be recognized in the income tax provision in the Consolidated Statements of Operations prospectively, rather than in additional paid-in-capital in the Consolidated Balance Sheets. In addition, the standard eliminates the requirement to defer recognition of excess tax benefits until they are realized through a reduction to income taxes payable. The Company applied the modified retrospective method and there was no adjustment to retained earnings as of January 1, 2017, ● The Company will present excess tax benefits as an operating activity in the Consolidated Statements of Cash Flows on a prospective basis. In addition, the Company will present cash payments made to tax authorities in connection with shares withheld to meet statutory tax withholding requirements as a financing activity in the Consolidated Statements of Cash Flows on a retrospective basis. Revenue Recognition: In May 2014, 2014 09, Revenue from Contracts with Customers (Topic 606), The standard defines a five December 15, 2017. December 15, 2016. not plan to early adopt, and accordingly, the Company will adopt the new standard effective January 1, 2018. While the Company continues to assess the new standard on its accounting policies, processes and system requirements, the primary impact includes the timing of recognition of revenue with certain distributors in the U.S. Currently, sales to these distributors are made under agreements which provide these distributors with price adjustment and other rights. The Company determines that uncertainties on the sales price exist under these arrangements primarily because the amount of price adjustments to be claimed by the distributors is not fixed or determinable. As a result, revenue and costs related to these sales are deferred until the Company receives notification from the distributors that products have been sold to the end customers and the amount of price adjustments is finalized. Under the new standard, the transaction price takes into consideration the effect of variable consideration, which is estimated at the time the promised goods are transferred to the customers. Accordingly, the Company will be required to recognize revenue at the time of shipments to the distributors, adjusted for an estimate of the price adjustments based on the information available at the time. This change will only impact the Company's accounting for arrangements with certain distributors in the U.S. Revenue from non-U.S. distributors, which make up the majority of the total distributor sales, is currently recognized at the time of shipments to the distributors because these arrangements do not contain price adjustments, or other amounts that are not fixed or determinable. The new standard permits adoption either by using (i) a full retrospective approach for all periods presented in the period of adoption or (ii) a modified retrospective approach with the cumulative effect of initially applying the new standard recognized at the date of initial application and providing certain additional disclosures. A final decision regarding the adoption method has not been finalized at this time. While the Company continues to assess the potential impact of the provisions in the new standard, including the areas described above, the Company cannot reasonably estimate quantitative information related to the impact of the new standard on its financial statements at this time. Others: In February 2016, 2016 02, Leases (Topic 842), 12 December 15, 2018, In June 2016, 2016 13, Financial Instruments – Credit Losses (Topic 326): December 15, 2019, December 15, 2018. In January 2017, 2017 04, Intangibles – Goodwill and Other (Topic 350): two December 15, 2019. January 1, 2017. |
Note 1 - Summary of Significa29
Note 1 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Deferred Compensation Plan [Table Text Block] | December 31, 2016 2015 Cash surrender value of corporate-owned life insurance policies $ 8,180 $ 5,706 Fair value of mutual funds 12,108 8,279 Total deferred compensation plan assets $ 20,288 $ 13,985 Deferred compensation plan assets reported in: Other long-term assets $ 20,288 $ 13,985 Deferred compensation plan liabilities reported in: Accrued compensation and related benefits (short-term) $ 479 $ - Other long-term liabilities 19,836 14,147 Total $ 20,315 $ 14,147 |
Note 2 - Acquisition (Tables)
Note 2 - Acquisition (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Business Acquisitions by Acquisition, Contingent Consideration [Table Text Block] | Cash paid at the Acquisition Date $ 11,735 Contingent consideration 2,507 Total $ 14,242 |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Cash $ 145 Other tangible assets acquired, net of liabilities assumed 42 Intangible assets: Know-how 1,018 Developed technologies 4,421 IPR&D 2,045 Total identifiable net assets acquired 7,671 Goodwill 6,571 Total net assets acquired $ 14,242 |
Note 3 - Cash, Cash Equivalen31
Note 3 - Cash, Cash Equivalents and Investments (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | December 31, 2016 2015 Cash, cash equivalents and investments: Cash $ 87,747 $ 58,217 Money market funds 24,956 31,640 Certificates of deposit - 21,574 Corporate debt securities 109,644 - U.S. treasuries and government agency bonds 45,877 123,532 Auction-rate securities backed by student-loan notes 5,354 5,361 Total $ 273,578 $ 240,324 December 31, 2016 2015 Reported as: Cash and cash equivalents $ 112,703 $ 90,860 Short-term investments 155,521 144,103 Long-term investments 5,354 5,361 Total $ 273,578 $ 240,324 |
Investments Classified by Contractual Maturity Date [Table Text Block] | December 31, 2016 2015 Due in less than 1 year $ 47,568 $ 110,898 Due in 1 - 5 years 107,953 33,205 Due in greater than 5 years 5,354 5,361 Total $ 160,875 $ 149,464 |
Unrealized Gain (Loss) on Investments [Table Text Block] | December 31, 2016 Amortized Cost Unrealized Gains Unrealized Losses Total Fair Value Fair Value of Investments in Unrealized Loss Position Money market funds $ 24,956 $ - $ - $ 24,956 $ - Corporate debt securities 110,429 65 (850 ) 109,644 91,938 U.S. treasuries and government agency bonds 45,899 - (22 ) 45,877 39,275 Auction-rate securities backed by student-loan notes 5,570 - (216 ) 5,354 5,354 Total $ 186,854 $ 65 $ (1,088 ) $ 185,831 $ 136,567 December 31, 2015 Amortized Cost Unrealized Gains Unrealized Losses Total Fair Value Fair Value of Investments in Unrealized Loss Position Money market funds $ 31,640 $ - $ - $ 31,640 $ - Certificates of deposit 21,574 - - 21,574 - U.S. treasuries and government agency bonds 123,698 4 (170 ) 123,532 110,720 Auction-rate securities backed by student-loan notes 5,570 - (209 ) 5,361 5,361 Total $ 182,482 $ 4 $ (379 ) $ 182,107 $ 116,081 |
Note 4 - Fair Value Measureme32
Note 4 - Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Measurement at December 31, 2016 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Total Level 1 Level 2 Level 3 Money market funds $ 24,956 $ 24,956 $ - $ - Corporate debt securities 109,644 - 109,644 - U.S. treasuries and government agency bonds 45,877 - 45,877 - Auction-rate securities backed by student-loan notes 5,354 - - 5,354 Mutual funds under deferred compensation plan 12,108 12,108 - - Total $ 197,939 $ 37,064 $ 155,521 $ 5,354 Fair Value Measurement at December 31, 2015 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Total Level 1 Level 2 Level 3 Money market funds $ 31,640 $ 31,640 $ - $ - Certificates of deposit 21,574 - 21,574 - U.S. treasuries and government agency bonds 123,532 - 123,532 - Auction-rate securities backed by student-loan notes 5,361 - - 5,361 Mutual funds under deferred compensation plan 8,279 8,279 - - Total $ 190,386 $ 39,919 $ 145,106 $ 5,361 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Balance at January 1, 2015 $ 5,389 Change in unrealized loss included in other comprehensive loss (28 ) Balance at December 31, 2015 5,361 Change in unrealized loss included in other comprehensive loss (7 ) Balance at December 31, 2016 $ 5,354 |
Schedule Of Level 3 Assumptions [Table Text Block] | December 31, 2016 2015 Time-to-liquidity (months) 24 24 Discount rate 4.3% - 9.3% 4.3% - 7.3% |
Note 5 - Balance Sheet Compon33
Note 5 - Balance Sheet Components (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | December 31, 2016 2015 Raw materials $ 14,599 $ 14,907 Work in process 26,048 21,177 Finished goods 30,822 27,125 Total $ 71,469 $ 63,209 |
Schedule of Other Current Assets [Table Text Block] | December 31, 2016 2015 Prepaid wafer purchase $ 5,000 $ - Other prepaid expense 2,249 2,128 Other 1,794 798 Total $ 9,043 $ 2,926 |
Property, Plant and Equipment [Table Text Block] | December 31, 2016 2015 Production equipment and software $ 95,565 $ 92,208 Buildings and improvements 48,964 34,736 Transportation equipment 11,291 4,694 Land 8,285 5,600 Furniture and fixtures 3,518 2,962 Leasehold improvements 2,838 2,283 Property and equipment, gross 170,461 142,483 Less: accumulated depreciation and amortization (85,290 ) (77,124 ) Total $ 85,171 $ 65,359 |
Schedule of Other Assets, Noncurrent [Table Text Block] | December 31, 2016 2015 Deferred compensation plan assets $ 20,288 $ 13,985 Prepaid wafer purchase 5,000 - Other prepaid expense 1,117 1,257 Other 1,006 1,099 Total $ 27,411 $ 16,341 |
Schedule of Accrued Liabilities [Table Text Block] | December 31, 2016 2015 Dividends and dividend equivalents $ 8,946 $ 8,675 Deferred revenue and customer prepayments 6,799 5,236 Stock rotation reserve 1,937 2,372 Income tax payable 1,239 465 Warranty 1,030 289 Commissions 1,008 763 Sales rebate 441 268 Other 1,516 1,916 Total $ 22,916 $ 19,984 |
Other Noncurrent Liabilities [Table Text Block] | December 31, 2016 2015 Deferred compensation plan liabilities $ 19,836 $ 14,147 Dividend equivalents 3,294 2,019 Other 89 379 Total $ 23,219 $ 16,545 |
Note 6 - Goodwill and Acquisi34
Note 6 - Goodwill and Acquisition-related Intangible Assets, Net (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block] | December 31, 2016 Gross Amount Accumulated Amortization Net Amount Know-how $ 1,018 $ (500 ) $ 518 Developed technologies 6,466 (3,982 ) 2,484 Total $ 7,484 $ (4,482 ) $ 3,002 December 31, 2015 Gross Amount Accumulated Amortization Net Amount Know-how $ 1,018 $ (297 ) $ 721 Developed technologies 6,466 (2,134 ) 4,332 Total $ 7,484 $ (2,431 ) $ 5,053 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | 2017 $ 2,051 2018 841 2019 110 Total $ 3,002 |
Note 7 - Stock-based Compensa35
Note 7 - Stock-based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block] | Year Ended December 31, 2016 2015 2014 Cost of revenue $ 1,575 $ 1,166 $ 903 Research and development 14,041 11,156 9,019 Selling, general and administrative 29,373 29,241 23,532 Total $ 44,989 $ 41,563 $ 33,454 |
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | Time-Based RSUs Weighted- Average Grant Date Fair Value Per Share PSUs and MPSUs Weighted- Average Grant Date Fair Value Per Share MSUs Weighted- Average Grant Date Fair Value Per Share Total Weighted- Average Grant Date Fair Value Per Share Outstanding at January 1, 2014 754 $ 19.41 1,028 $ 23.02 1,800 $ 23.57 3,582 $ 22.53 Granted 335 $ 36.71 952 (1) $ 34.65 - $ - 1,287 $ 35.19 Released (468 ) $ 20.36 (304 ) $ 18.12 - $ - (772 ) $ 19.48 Forfeited (32 ) $ 19.75 (17 ) $ 19.79 - $ - (49 ) $ 19.77 Outstanding at December 31, 2014 589 $ 28.48 1,659 $ 28.11 1,800 $ 23.57 4,048 $ 26.14 Granted 271 $ 49.82 927 (1) $ 47.61 - $ - 1,198 $ 48.11 Released (319 ) $ 26.56 (629 ) $ 23.40 - $ - (948 ) $ 24.47 Forfeited (42 ) $ 35.60 (24 ) $ 28.68 - $ - (66 ) $ 33.06 Outstanding at December 31, 2015 499 $ 40.75 1,933 $ 38.99 1,800 $ 23.57 4,232 $ 32.64 Granted 133 $ 63.00 1,216 (1) $ 41.12 - $ - 1,349 $ 43.28 Released (239 ) $ 36.43 (736 ) $ 29.71 - $ - (975 ) $ 31.36 Forfeited (27 ) $ 45.35 (129 ) $ 36.82 (180 ) $ 23.57 (336 ) $ 30.38 Outstanding at December 31, 2016 366 $ 51.35 2,284 $ 43.24 1,620 $ 23.57 4,270 $ 36.47 |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term Aggregate Intrinsic Value (in thousands) (in years) (in thousands) Outstanding at January 1, 2014 1,356 $ 15.86 1.9 $ 25,506 Exercised (742 ) $ 16.09 Forfeited and expired (24 ) $ 10.07 Outstanding at December 31, 2014 590 $ 15.80 1.2 $ 20,039 Exercised (498 ) $ 15.55 Forfeited and expired (2 ) $ 6.10 Outstanding at December 31, 2015 90 $ 17.50 1.3 $ 4,134 Exercised (76 ) $ 17.80 Outstanding at December 31, 2016 14 $ 15.88 1.0 $ 921 Options exercisable at December 31, 2016 and expected to vest 14 $ 15.88 1.0 $ 921 Options exercisable at December 31, 2016 14 $ 15.88 1.0 $ 921 |
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block] | Year Ended December 31, 2016 2015 2014 Expected term (years) 0.5 0.5 0.5 Expected volatility 28.6 % 30.3 % 29.4 % Risk-free interest rate 0.4 % 0.2 % 0.1 % Dividend yield 1.2 % 1.4 % 0.7 % |
Note 8 - Stock Repurchase Pro36
Note 8 - Stock Repurchase Programs (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Common Stock Repurchased [Table Text Block] | Year Ended December 31, 2016 2015 2014 Shares repurchased - 645 1,051 Average price per share $ - $ 50.05 $ 39.19 Total amount $ - $ 32,286 $ 41,198 |
Note 9 - Dividends and Divide37
Note 9 - Dividends and Dividend Equivalents (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Dividends Declared [Table Text Block] | Year Ended December 31, 2016 2015 2014 Dividend declared per share $ 0.80 $ 0.80 $ 0.45 Total amount $ 32,434 $ 31,618 $ 17,466 |
Note 10 - Interest and Other 38
Note 10 - Interest and Other Income, Net (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Other Nonoperating Income (Expense) [Table Text Block] | Year Ended December 31, 2016 2015 2014 Interest income $ 2,488 $ 1,608 $ 1,112 Amortization of premium on available-for-sale investments (1,019 ) (463 ) (237 ) Gain (loss) on employee deferred compensation plan investments 1,257 (375 ) 141 Foreign currency exchange gain 65 608 80 Other 26 43 (4 ) Total $ 2,817 $ 1,421 $ 1,092 |
Note 11 - Net Income Per Share
Note 11 - Net Income Per Share (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year Ended December 31, 2016 2015 2014 Numerator: Net income $ 52,720 $ 35,172 $ 35,495 Denominator: Weighted-average outstanding shares used to compute basic net income per share 40,436 39,470 38,686 Effect of dilutive securities 1,479 1,399 1,107 Weighted-average outstanding shares used to compute diluted net income per share 41,915 40,869 39,793 Net income per share: Basic $ 1.30 $ 0.89 $ 0.92 Diluted $ 1.26 $ 0.86 $ 0.89 |
Note 12 - Income Taxes (Tables)
Note 12 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block] | Year Ended December 31, 2016 2015 2014 United States $ (14,431 ) $ (247 ) $ 3,173 International 71,695 42,738 33,219 Total income before income taxes $ 57,264 $ 42,491 $ 36,392 |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Year Ended December 31, 2016 2015 2014 Current: Federal $ 2,527 $ 6,042 $ 18 State - 2 (28 ) Foreign 2,013 1,213 943 Deferred: Foreign 4 62 (36 ) Total income tax provision $ 4,544 $ 7,319 $ 897 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year Ended December 31, 2016 2015 2014 U.S. statutory federal tax rate 34.0 % 34.0 % 34.0 % Settlement with tax authorities - 6.2 - Foreign income at lower rates (41.1 ) (43.1 ) (27.7 ) Changes in valuation allowance 11.0 17.6 5.9 Stock-based compensation 2.2 - (9.3 ) Reserves and other 1.8 2.5 (0.4 ) Effective tax rate 7.9 % 17.2 % 2.5 % |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, 2016 2015 Deferred tax assets: Research tax credits $ 9,817 $ 8,869 Deferred compensation 6,752 5,038 Stock-based compensation 7,283 1,912 Other expenses not currently deductible 3,974 3,519 Depreciation and amortization 161 (52 ) Total deferred tax assets 27,987 19,286 Valuation allowance (27,354 ) (18,614 ) Net deferred tax assets $ 633 $ 672 |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | Balance as at January 1, 2014 $ 14,922 Increase for tax position of prior year 584 Increase for tax position of current year 1,760 Decrease due to lapse of statue of limitation (860 ) Balance as of December 31, 2014 16,406 Increase for tax position of current year 1,964 Decrease related to settlement with tax authorities (4,162 ) Decrease due to lapse of statue of limitation (669 ) Decrease for tax position of prior year (1,446 ) Balance as of December 31, 2015 12,093 Increase for tax position of prior year 243 Increase for tax position of current year 2,095 Balance as of December 31, 2016 $ 14,431 |
Note 13 - Commitments and Con41
Note 13 - Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | 2017 $ 969 2018 368 2019 249 2020 114 Total $ 1,700 |
Schedule of Product Warranty Liability [Table Text Block] | Year Ended December 31, 2016 2015 2014 Balance at beginning of period $ 289 $ 240 $ 451 Warranty provision for product sales 1,102 333 282 Settlements made (68 ) (158 ) (42 ) Unused warranty provision (293 ) (126 ) (451 ) Balance at end of period $ 1,030 $ 289 $ 240 |
Note 16 - Significant Custome42
Note 16 - Significant Customers (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block] | Year Ended December 31, Customer 2016 2015 2014 Distributor A 22 % 24 % 26 % |
Schedule of Accounts Receivable by Major Customers by Reporting Segments [Table Text Block] | December 31, Customer 2016 2015 Distributor A 19 % 28 % Distributor B 17 % 17 % |
Note 17 - Segment and Geograp43
Note 17 - Segment and Geographic Information (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block] | Year Ended December 31, Country or Region 2016 2015 2014 China $ 245,169 $ 213,119 $ 181,050 Taiwan 45,414 41,521 38,460 Korea 27,710 20,519 14,362 Europe 27,554 22,603 19,830 Southeast Asia 19,645 18,592 13,993 Japan 14,318 9,727 8,251 United States 8,567 6,732 6,392 Other 288 254 197 Total $ 388,665 $ 333,067 $ 282,535 |
Schedule of Entity Wide Information, Revenue from External Customers by Market Segments [Table Text Block] | Year Ended December 31, Market Segment 2016 2015 2014 Consumer $ 153,732 $ 145,090 $ 122,733 Industrial 89,639 66,343 49,037 Computing and storage 80,562 56,568 46,147 Communications 64,732 65,066 64,618 Total $ 388,665 $ 333,067 $ 282,535 |
Revenue from External Customers by Products and Services [Table Text Block] | Year Ended December 31, Product Family 2016 2015 2014 DC to DC $ 350,930 $ 299,726 $ 253,083 Lighting Control 37,735 33,341 29,452 Total $ 388,665 $ 333,067 $ 282,535 |
Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country [Table Text Block] | December 31, Country 2016 2015 United States $ 50,242 $ 40,405 China 45,728 40,738 Bermuda 9,573 11,624 Taiwan 8,919 126 Other 571 431 Total $ 115,033 $ 93,324 |
Note 18 - Accumulated Other C44
Note 18 - Accumulated Other Comprehensive Income (Loss) (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Unrealized Losses on Available-for- Sale Securities Foreign Currency Translation Adjustments Total Balance as of January 1, 2015 $ (196 ) $ 6,007 $ 5,811 Other comprehensive loss before reclassifications (174 ) (4,166 ) (4,340 ) Amounts reclassified from accumulated other comprehensive income (5 ) - (5 ) Net current period other comprehensive loss (179 ) (4,166 ) (4,345 ) Balance as of December 31, 2015 (375 ) 1,841 1,466 Other comprehensive loss before reclassifications (623 ) (5,033 ) (5,656 ) Amounts reclassified from accumulated other comprehensive income (loss) (25 ) - (25 ) Net current period other comprehensive loss (648 ) (5,033 ) (5,681 ) Balance as of December 31, 2016 $ (1,023 ) $ (3,192 ) $ (4,215 ) |
Note 19 - Quarterly Financial45
Note 19 - Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | Three Months Ended December 31, 2016 September 30, 2016 June 30, 2016 March 31, 2016 (in thousands, except per share amounts) Revenue $ 103,618 $ 106,456 $ 94,079 $ 84,512 Cost of revenue 47,107 48,531 43,153 39,002 Gross profit 56,511 57,925 50,926 45,510 Operating expenses: Research and development 17,974 20,472 17,876 17,321 Selling, general and administrative 21,316 22,397 21,531 17,768 Litigation expense (benefit), net (321 ) 55 (8 ) 45 Total operating expenses 38,969 42,924 39,399 35,134 Income from operations 17,542 15,001 11,527 10,376 Interest and other income, net 897 780 597 543 Income before income taxes 18,439 15,781 12,124 10,919 Income tax provision 1,866 1,408 926 344 Net income $ 16,573 $ 14,373 $ 11,198 $ 10,575 Net income per share: Basic $ 0.41 $ 0.35 $ 0.28 $ 0.26 Diluted $ 0.39 $ 0.34 $ 0.27 $ 0.25 Weighted-average shares outstanding: Basic 40,739 40,590 40,387 40,028 Diluted 42,404 41,895 41,716 41,646 Cash dividends declared per common share $ 0.20 $ 0.20 $ 0.20 $ 0.20 Three Months Ended December 31, 2015 September 30, 2015 June 30, 2015 March 31, 2015 (in thousands, except per share amounts) Revenue $ 86,918 $ 91,194 $ 81,416 $ 73,538 Cost of revenue 40,001 41,754 37,287 33,855 Gross profit 46,917 49,440 44,129 39,683 Operating expenses: Research and development 16,734 17,272 15,743 16,038 Selling, general and administrative 18,107 18,722 17,964 17,518 Litigation expense 283 136 311 270 Total operating expenses 35,124 36,130 34,018 33,826 Income from operations 11,793 13,310 10,111 5,857 Interest and other income (expense), net 550 (6 ) 235 642 Income before income taxes 12,343 13,304 10,346 6,499 Income tax provision 2,233 2,103 2,447 536 Net income $ 10,110 $ 11,201 $ 7,899 $ 5,963 Net income per share: Basic $ 0.26 $ 0.28 $ 0.20 $ 0.15 Diluted $ 0.24 $ 0.28 $ 0.19 $ 0.15 Weighted-average shares outstanding: Basic 39,615 39,592 39,570 39,105 Diluted 41,445 40,689 40,745 40,596 Cash dividends declared per common share $ 0.20 $ 0.20 $ 0.20 $ 0.20 |
Note 1 - Summary of Significa46
Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($) | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Jan. 01, 2017 | |
Foreign Currency Transaction Gain (Loss), before Tax | $ 65,000 | $ 608,000 | $ 80,000 | |
Available-for-sale Securities | 185,831,000 | 182,107,000 | ||
Stock Rotation Reserve | 1,937,000 | 2,372,000 | ||
Goodwill, Impairment Loss | 0 | 0 | $ 0 | |
Subsequent Event [Member] | Accounting Standards Update 2016-09 [Member] | Retained Earnings [Member] | ||||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ 5,100,000 | |||
Distributors with Price Adjustment Rights [Member] | ||||
Deferred Revenue | 3,700,000 | 2,800,000 | ||
Deferred Costs, Current | $ 300,000 | $ 200,000 | ||
Sales Revenue, Goods, Net [Member] | Customer Concentration Risk [Member] | Distributor Sales [Member] | ||||
Concentration Risk, Percentage | 88.00% | 88.00% | 89.00% | |
Land Use Rights [Member] | ||||
Finite-Lived Intangible Asset, Useful Life | 50 years | |||
Patents [Member] | ||||
Finite-Lived Intangible Asset, Useful Life | 5 years | |||
Minimum [Member] | ||||
Extended Product Warranty Term | 1 year | |||
Minimum [Member] | Know-How And Developed Technologies [Member] | ||||
Finite-Lived Intangible Asset, Useful Life | 3 years | |||
Maximum [Member] | ||||
Extended Product Warranty Term | 2 years | |||
Maximum [Member] | Know-How And Developed Technologies [Member] | ||||
Finite-Lived Intangible Asset, Useful Life | 5 years | |||
Building and Building Improvements [Member] | Minimum [Member] | ||||
Property, Plant and Equipment, Useful Life | 30 years | |||
Building and Building Improvements [Member] | Maximum [Member] | ||||
Property, Plant and Equipment, Useful Life | 40 years | |||
Computer Equipment [Member] | Minimum [Member] | ||||
Property, Plant and Equipment, Useful Life | 3 years | |||
Computer Equipment [Member] | Maximum [Member] | ||||
Property, Plant and Equipment, Useful Life | 7 years | |||
Transportation Equipment [Member] | Minimum [Member] | ||||
Property, Plant and Equipment, Useful Life | 5 years | |||
Transportation Equipment [Member] | Maximum [Member] | ||||
Property, Plant and Equipment, Useful Life | 15 years | |||
Furniture and Fixtures [Member] | Minimum [Member] | ||||
Property, Plant and Equipment, Useful Life | 3 years | |||
Furniture and Fixtures [Member] | Maximum [Member] | ||||
Property, Plant and Equipment, Useful Life | 5 years | |||
Auction Rate Securities [Member] | ||||
Available-for-sale Securities | $ 5,400,000 | $ 5,400,000 | ||
Interest and Other Income [Member] | ||||
Foreign Currency Transaction Gain (Loss), before Tax | $ 100,000 | $ 600,000 | $ 100,000 |
Note 1 - Summary of Significa47
Note 1 - Summary of Significant Accounting Policies - Summary of Deferred Compensation Plan (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Deferred compensation plan assets | $ 20,288 | $ 13,985 |
Deferred compensation plan liabilities | 20,315 | 14,147 |
Other Long-term Assets [Member] | ||
Deferred compensation plan assets | 20,288 | 13,985 |
Accrued Compensation and Related Benefits [Member] | ||
Deferred compensation plan liabilities | 479 | |
Other Long-term Liabilities [Member] | ||
Deferred compensation plan liabilities | 19,836 | 14,147 |
Cash Surrender Value [Member] | ||
Deferred compensation plan assets | 8,180 | 5,706 |
Mutual Funds, Fair Value [Member] | ||
Deferred compensation plan assets | $ 12,108 | $ 8,279 |
Note 2 - Acquisition (Details T
Note 2 - Acquisition (Details Textual) - USD ($) | Jul. 22, 2014 | Sep. 30, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | $ (2,507,000) | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 1,349,000 | 1,198,000 | 1,287,000 | ||
Restricted Stock Units (RSUs) [Member] | Sensima Employees [Member] | |||||
Stock Granted, Value, Share-based Compensation, Gross | $ 1,700,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 40,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | ||||
Performance Share Units [Member] | Sensima Employees [Member] | |||||
Stock Granted, Value, Share-based Compensation, Gross | $ 2,000,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 47,000 | ||||
Maximum PSU Earn Out | $ 8,000,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Expense to be Recognized over Requisite Service Period | $ 2,000,000 | ||||
Performance Share Units [Member] | Sensima Employees [Member] | Remaining Half of RSU Awards [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | ||||
Know-How And Developed Technologies [Member] | Minimum [Member] | |||||
Finite-Lived Intangible Asset, Useful Life | 3 years | ||||
Know-How And Developed Technologies [Member] | Maximum [Member] | |||||
Finite-Lived Intangible Asset, Useful Life | 5 years | ||||
Sensima [Member] | |||||
Business Acquisition, Percentage of Voting Interests Acquired | 100.00% | ||||
Escrow Deposit | $ 1,200,000 | ||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | 8,900,000 | ||||
Business Combination, Contingent Consideration, Liability | $ 2,507,000 | $ 0 | $ 0 | ||
Sensima [Member] | Sensima Employees [Member] | Share-based Compensation Award, Tranche One [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | ||||
Sensima [Member] | Know-How And Developed Technologies [Member] | Minimum [Member] | |||||
Finite-Lived Intangible Asset, Useful Life | 3 years | ||||
Sensima [Member] | Know-How And Developed Technologies [Member] | Maximum [Member] | |||||
Finite-Lived Intangible Asset, Useful Life | 5 years | ||||
Sensima [Member] | In Process Research and Development [Member] | |||||
Finite-Lived Intangible Asset, Useful Life | 4 years | ||||
Sensima [Member] | Selling, General and Administrative Expenses [Member] | |||||
Business Combination, Acquisition Related Costs | $ 600,000 | ||||
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | $ (2,500,000) |
Note 2 - Acquisition - Fair Val
Note 2 - Acquisition - Fair Value of Purchase Consideration (Details) - Sensima [Member] - USD ($) | Jul. 22, 2014 | Dec. 31, 2016 | Dec. 31, 2015 |
Cash paid at the Acquisition Date | $ 11,735,000 | ||
Contingent consideration | 2,507,000 | $ 0 | $ 0 |
Total | $ 14,242,000 |
Note 2 - Acquisition - Estimate
Note 2 - Acquisition - Estimated Fair Value of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Jul. 22, 2014 |
Goodwill | $ 6,571 | $ 6,571 | |
Sensima [Member] | |||
Cash | $ 145 | ||
Other tangible assets acquired, net of liabilities assumed | 42 | ||
Total identifiable net assets acquired | 7,671 | ||
Goodwill | 6,571 | ||
Total net assets acquired | 14,242 | ||
Sensima [Member] | Developed Technology Rights [Member] | |||
Intangible Assets | 4,421 | ||
Sensima [Member] | Know-How [Member] | |||
Intangible Assets | 1,018 | ||
Sensima [Member] | IPR&D [Member] | |||
Intangible Assets | $ 2,045 |
Note 3 - Cash, Cash Equivalen51
Note 3 - Cash, Cash Equivalents and Investments (Details Textual) - USD ($) | Dec. 31, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2009 |
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | $ 1,088,000 | $ 379,000 | ||
Auction Rate Securities Maturities | 31 years | |||
Gain (Loss) on Investments | $ 70,000 | |||
Percentage of Auction Rate Securities Redeemedat Par Value | 87.00% | |||
Auction Rate Securities [Member] | ||||
Available-for-sale Securities, Accumulated Gross Unrealized Loss, before Tax | $ 200,000 | 200,000 | ||
Redemption Auction Rate Securities | $ 4,700,000 | $ 0 | $ 0 |
Note 3 - Cash, Cash Equivalen52
Note 3 - Cash, Cash Equivalents and Investments - Cash Equivalents, Short-term and Long-term Investments (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Cash | $ 87,747 | $ 58,217 | ||
Money market funds | 24,956 | 31,640 | ||
Certificates of deposit | 21,574 | |||
U.S. treasuries and government agency bonds | 45,877 | 123,532 | ||
Total | 273,578 | 240,324 | ||
Cash and cash equivalents | 112,703 | 90,860 | $ 126,266 | $ 101,213 |
Short-term investments | 155,521 | 144,103 | ||
Long-term investments | 5,354 | 5,361 | ||
Corporate Debt Securities [Member] | ||||
Available-for-sale securities | 109,644 | |||
Auction Rate Securities [Member] | ||||
Available-for-sale securities | $ 5,354 | $ 5,361 |
Note 3 - Cash, Cash Equivalen53
Note 3 - Cash, Cash Equivalents and Investments - Investment Maturity Classification (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Due in less than 1 year | $ 47,568 | $ 110,898 |
Due in 1 - 5 years | 107,953 | 33,205 |
Due in greater than 5 years | 5,354 | 5,361 |
Total | $ 160,875 | $ 149,464 |
Note 3 - Cash, Cash Equivalen54
Note 3 - Cash, Cash Equivalents and Investments - Unrealized Gains and Losses on Investments (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Adjusted Cost | $ 186,854 | $ 182,482 |
Available-for-sale Securities | 185,831 | 182,107 |
Unrealized Gains | 65 | 4 |
Unrealized Losses | (1,088) | (379) |
Fair Value of Investments in Unrealized Loss Position | 136,567 | 116,081 |
Money Market Funds [Member] | ||
Adjusted Cost | 24,956 | 31,640 |
Available-for-sale Securities | 24,956 | 31,640 |
Corporate Debt Securities [Member] | ||
Adjusted Cost | 110,429 | |
Available-for-sale Securities | 109,644 | |
Unrealized Gains | 65 | |
Unrealized Losses | (850) | |
Fair Value of Investments in Unrealized Loss Position | 91,938 | |
Certificates of Deposit [Member] | ||
Adjusted Cost | 21,574 | |
Available-for-sale Securities | 21,574 | |
US Government Agencies Short-term Debt Securities [Member] | ||
Adjusted Cost | 45,899 | 123,698 |
Available-for-sale Securities | 45,877 | 123,532 |
Unrealized Gains | 4 | |
Unrealized Losses | (22) | (170) |
Fair Value of Investments in Unrealized Loss Position | 39,275 | 110,720 |
Auction Rate Securities [Member] | ||
Adjusted Cost | 5,570 | 5,570 |
Available-for-sale Securities | 5,354 | 5,361 |
Unrealized Losses | (216) | (209) |
Fair Value of Investments in Unrealized Loss Position | $ 5,354 | $ 5,361 |
Note 4 - Fair Value Measureme55
Note 4 - Fair Value Measurements - Financial Assets and Liabilities, Fair Value (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Available-for-sale Securities | $ 185,831 | $ 182,107 |
Total Fair Value | 197,939 | 190,386 |
Fair Value, Inputs, Level 1 [Member] | ||
Total Fair Value | 37,064 | 39,919 |
Fair Value, Inputs, Level 2 [Member] | ||
Total Fair Value | 155,521 | 145,106 |
Fair Value, Inputs, Level 3 [Member] | ||
Total Fair Value | 5,354 | 5,361 |
Money Market Funds [Member] | ||
Available-for-sale Securities | 24,956 | 31,640 |
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale Securities | 24,956 | 31,640 |
Corporate Debt Securities [Member] | ||
Available-for-sale Securities | 109,644 | |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale Securities | 109,644 | |
US Government Agencies Short-term Debt Securities [Member] | ||
Available-for-sale Securities | 45,877 | 123,532 |
US Government Agencies Short-term Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale Securities | 45,877 | 123,532 |
Auction Rate Securities [Member] | ||
Available-for-sale Securities | 5,354 | 5,361 |
Auction Rate Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Available-for-sale Securities | 5,354 | 5,361 |
Mutual Fund [Member] | ||
Total Fair Value | 12,108 | 8,279 |
Mutual Fund [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total Fair Value | $ 12,108 | 8,279 |
Certificates of Deposit [Member] | ||
Available-for-sale Securities | 21,574 | |
Certificates of Deposit [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale Securities | $ 21,574 |
Note 4 - Fair Value Measureme56
Note 4 - Fair Value Measurements - Level 3 Investments (Details) - Auction Rate Securities [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Balance, auction rate securities | $ 5,361 | $ 5,389 |
Change in unrealized loss included in other comprehensive loss | (7) | (28) |
Balance, auction rate securities | $ 5,354 | $ 5,361 |
Note 4 - Fair Value Measureme57
Note 4 - Fair Value Measurements - Discounted Cash Flow Assumptions (Details) | 11 Months Ended | 12 Months Ended |
Dec. 13, 2016 | Dec. 31, 2015 | |
Time-to-liquidity (months) (Month) | 2 years | 2 years |
Minimum [Member] | ||
Discount rate | 4.30% | 4.30% |
Maximum [Member] | ||
Discount rate | 9.30% | 7.30% |
Note 5 - Balance Sheet Compon58
Note 5 - Balance Sheet Components (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Depreciation | $ 12.6 | $ 12 | $ 12.4 |
Note 5 - Balance Sheet Compon59
Note 5 - Balance Sheet Components - Inventories (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Raw materials | $ 14,599 | $ 14,907 |
Work in process | 26,048 | 21,177 |
Finished goods | 30,822 | 27,125 |
Total | $ 71,469 | $ 63,209 |
Note 5 - Balance Sheet Compon60
Note 5 - Balance Sheet Components - Other Current Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Prepaid wafer purchase | $ 5,000 | |
Other prepaid expense | 2,249 | 2,128 |
Other | 1,794 | 798 |
Total | $ 9,043 | $ 2,926 |
Note 5 - Balance Sheet Compon61
Note 5 - Balance Sheet Components - Property and Equipment, Net (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Property and equipment | $ 170,461 | $ 142,483 |
Less: accumulated depreciation and amortization | (85,290) | (77,124) |
Total | 85,171 | 65,359 |
Production Equipment and Software [Member] | ||
Property and equipment | 95,565 | 92,208 |
Building and Building Improvements [Member] | ||
Property and equipment | 48,964 | 34,736 |
Transportation Equipment [Member] | ||
Property and equipment | 11,291 | 4,694 |
Land [Member] | ||
Property and equipment | 8,285 | 5,600 |
Furniture and Fixtures [Member] | ||
Property and equipment | 3,518 | 2,962 |
Leasehold Improvements [Member] | ||
Property and equipment | $ 2,838 | $ 2,283 |
Note 5 - Balance Sheet Compon62
Note 5 - Balance Sheet Components - Other Long-term Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Deferred compensation plan assets | $ 20,288 | $ 13,985 |
Prepaid wafer purchase | 5,000 | |
Other prepaid expense | 1,117 | 1,257 |
Other | 1,006 | 1,099 |
Total | $ 27,411 | $ 16,341 |
Note 5 - Balance Sheet Compon63
Note 5 - Balance Sheet Components - Accrued Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Dividends and dividend equivalents | $ 8,946 | $ 8,675 |
Deferred revenue and customer prepayments | 6,799 | 5,236 |
Stock rotation reserve | 1,937 | 2,372 |
Income tax payable | 1,239 | 465 |
Warranty | 1,030 | 289 |
Commissions | 1,008 | 763 |
Sales rebate | 441 | 268 |
Other | 1,516 | 1,916 |
Total | $ 22,916 | $ 19,984 |
Note 5 - Balance Sheet Compon64
Note 5 - Balance Sheet Components - Long-term Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Deferred compensation plan liabilities | $ 19,836 | $ 14,147 |
Dividend equivalents | 3,294 | 2,019 |
Other | 89 | 379 |
Total | $ 23,219 | $ 16,545 |
Note 6 - Goodwill and Acquisi65
Note 6 - Goodwill and Acquisition-related Intangible Assets, Net (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Goodwill, Impairment Loss | $ 0 | $ 0 | $ 0 |
Goodwill, Period Increase (Decrease) | 0 | 0 | |
Cost Of Revenue [Member] | |||
Amortization of Intangible Assets | $ 2,100,000 | $ 1,800,000 | $ 700,000 |
Note 6 - Goodwill and Acquisi66
Note 6 - Goodwill and Acquisition-related Intangible Assets, Net - Acquisition-Related Intangible Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Gross Amount | $ 7,484 | $ 7,484 |
Accumulated Amortization | (4,482) | (2,431) |
Net Amount | 3,002 | 5,053 |
Know-How [Member] | ||
Gross Amount | 1,018 | 1,018 |
Accumulated Amortization | (500) | (297) |
Net Amount | 518 | 721 |
Developed Technology Rights [Member] | ||
Gross Amount | 6,466 | 6,466 |
Accumulated Amortization | (3,982) | (2,134) |
Net Amount | $ 2,484 | $ 4,332 |
Note 6 - Goodwill and Acquisi67
Note 6 - Goodwill and Acquisition-related Intangible Assets, Net - Future Amortization Expense (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
2,017 | $ 2,051 | |
2,018 | 841 | |
2,019 | 110 | |
Total | $ 3,002 | $ 5,053 |
Note 7 - Stock-based Compensa68
Note 7 - Stock-based Compensation (Details Textual) | Nov. 12, 2014shares | Feb. 28, 2017USD ($)shares | Jul. 31, 2016$ / sharesshares | Mar. 31, 2016shares | Feb. 29, 2016USD ($)$ / sharesshares | Dec. 31, 2015$ / sharesshares | Feb. 28, 2015shares | Apr. 30, 2014shares | Mar. 31, 2014shares | Feb. 28, 2014shares | Feb. 28, 2013USD ($)shares | Mar. 31, 2016USD ($) | Dec. 31, 2016USD ($)$ / sharesshares | Dec. 31, 2015USD ($)$ / sharesshares | Dec. 31, 2014USD ($)shares | Dec. 31, 2013USD ($)$ / sharesshares | Nov. 13, 2014shares |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 1,349,000 | 1,198,000 | 1,287,000 | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | 336,000 | 66,000 | 49,000 | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ | $ 3,700,000 | $ 18,600,000 | $ 17,300,000 | ||||||||||||||
Proceeds from Stock Options Exercised | $ | 1,344,000 | 7,744,000 | 11,941,000 | ||||||||||||||
Proceeds from Stock Plans | $ | 2,463,000 | 2,227,000 | 2,078,000 | ||||||||||||||
Restricted Stock Units (RSUs) [Member] | |||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested | $ | 62,900,000 | $ 49,200,000 | $ 28,900,000 | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding | $ | $ 332,900,000 | ||||||||||||||||
Share Price | $ / shares | $ 81.93 | ||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ | $ 84,800,000 | ||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 4 years | ||||||||||||||||
Time-Based RSUs [Member] | |||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 133,000 | 271,000 | 335,000 | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | 27,000 | 42,000 | 32,000 | ||||||||||||||
2016 Executive PSUs and 2016 Non-executive PSUs [Member] | |||||||||||||||||
Share Price | $ / shares | $ 70.98 | $ 58.98 | |||||||||||||||
Purchase Price Per Share | $ / shares | $ 20 | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 2 years 109 days | 2 years 219 days | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 29.60% | 31.10% | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 0.70% | 0.90% | |||||||||||||||
2015 MPSUs [Member] | |||||||||||||||||
Share Price | $ / shares | $ 61.35 | $ 61.35 | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 127,000 | ||||||||||||||||
PSUs Maximum Earn-Out | 500.00% | ||||||||||||||||
Maximum Stock Compensation Costs | $ | $ 24,600,000 | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 33.20% | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.30% | ||||||||||||||||
Number of MPSU Tranches | 4 | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Post-Award Vesting Period, Restriction Period on Sales | 2 years | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Discount for Postvesting Restrictions | 7.80% | ||||||||||||||||
2015 MPSUs [Member] | Share-based Compensation Award, Tranche One [Member] | |||||||||||||||||
Maximum Stock Compensation Costs | $ | 8,300,000 | ||||||||||||||||
Number of Price Targets | 5 | ||||||||||||||||
2015 MPSUs [Member] | Second, Third, and Fourth Tranches [Member] | |||||||||||||||||
Number of Price Targets | 5 | ||||||||||||||||
Total number of performance conditions | 6 | ||||||||||||||||
2015 MPSUs [Member] | Share-based Compensation Award, Tranche Two [Member] | |||||||||||||||||
Maximum Stock Compensation Costs | $ | 4,500,000 | ||||||||||||||||
2015 MPSUs [Member] | Share-based Compensation Award, Tranche Three [Member] | |||||||||||||||||
Maximum Stock Compensation Costs | $ | 5,200,000 | ||||||||||||||||
2015 MPSUs [Member] | Share-based Compensation Award, Tranche Four [Member] | |||||||||||||||||
Maximum Stock Compensation Costs | $ | 6,600,000 | ||||||||||||||||
2015 MPSUs [Member] | Minimum [Member] | Share-based Compensation Award, Tranche One [Member] | |||||||||||||||||
Market Awards Price Targets | $ / shares | $ 71.36 | ||||||||||||||||
2015 MPSUs [Member] | Maximum [Member] | Share-based Compensation Award, Tranche One [Member] | |||||||||||||||||
Market Awards Price Targets | $ / shares | $ 95.57 | ||||||||||||||||
2015 Executive PSUs [Member] | |||||||||||||||||
PSUs Maximum Earn-Out | 300.00% | ||||||||||||||||
2015 Executive PSUs [Member] | Subsequent Event [Member] | |||||||||||||||||
Total PSU Earned | 432,000 | ||||||||||||||||
Actual Stock Compensation Costs | $ | $ 21,000,000 | ||||||||||||||||
2015 Non-Executive PSUs [Member] | |||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | ||||||||||||||||
2015 Non-Executive PSUs [Member] | Subsequent Event [Member] | |||||||||||||||||
Total PSU Earned | 118,000 | ||||||||||||||||
Actual Stock Compensation Costs | $ | $ 5,700,000 | ||||||||||||||||
2015 Non-Executive PSUs [Member] | Minimum [Member] | |||||||||||||||||
PSUs Maximum Earn-Out | 200.00% | ||||||||||||||||
2015 Non-Executive PSUs [Member] | Maximum [Member] | |||||||||||||||||
PSUs Maximum Earn-Out | 300.00% | ||||||||||||||||
The 2014 Executive PSUs [Member] | |||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | ||||||||||||||||
PSUs Maximum Earn-Out | 300.00% | ||||||||||||||||
Total PSU Earned | 694,000 | ||||||||||||||||
Actual Stock Compensation Costs | $ | $ 20,700,000 | ||||||||||||||||
The 2014 Executive PSUs [Member] | Share-based Compensation Award, Tranche One [Member] | Vesting in the First Quarter of 2016 [Member] | |||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | ||||||||||||||||
The 2014 Non-Executive PSUs [Member] | |||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | ||||||||||||||||
Total PSU Earned | 103,000 | ||||||||||||||||
Actual Stock Compensation Costs | $ | $ 3,700,000 | ||||||||||||||||
The 2014 Non-Executive PSUs [Member] | Share-based Compensation Award, Tranche One [Member] | Vesting in the Second Quarter of 2016 [Member] | |||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | ||||||||||||||||
The 2014 Non-Executive PSUs [Member] | Minimum [Member] | |||||||||||||||||
PSUs Maximum Earn-Out | 200.00% | ||||||||||||||||
The 2014 Non-Executive PSUs [Member] | Maximum [Member] | |||||||||||||||||
PSUs Maximum Earn-Out | 300.00% | ||||||||||||||||
The 2013 Executive PSUs [Member] | |||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | ||||||||||||||||
PSUs Maximum Earn-Out | 300.00% | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | ||||||||||||||||
Total PSU Earned | 622,000 | ||||||||||||||||
Actual Stock Compensation Costs | $ | $ 15,000,000 | ||||||||||||||||
The 2013 Non-Executive PSUs [Member] | |||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | ||||||||||||||||
Total PSU Earned | 154,000 | ||||||||||||||||
Actual Stock Compensation Costs | $ | $ 3,000,000 | ||||||||||||||||
The 2013 Non-Executive PSUs [Member] | Minimum [Member] | |||||||||||||||||
PSUs Maximum Earn-Out | 200.00% | ||||||||||||||||
The 2013 Non-Executive PSUs [Member] | Maximum [Member] | |||||||||||||||||
PSUs Maximum Earn-Out | 300.00% | ||||||||||||||||
The 2013 Executive MSUs [Member] | |||||||||||||||||
Share Price | $ / shares | $ 31.73 | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | ||||||||||||||||
PSUs Maximum Earn-Out | 500.00% | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 38.70% | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.60% | ||||||||||||||||
Number of Price Targets | 5 | ||||||||||||||||
Actual Stock Compensation Costs | $ | $ 38,200,000 | ||||||||||||||||
Total MSUE arned | 1,800,000 | ||||||||||||||||
The 2013 Executive MSUs [Member] | Minimum [Member] | |||||||||||||||||
Market Awards Price Targets | $ / shares | $ 40 | ||||||||||||||||
The 2013 Executive MSUs [Member] | Maximum [Member] | |||||||||||||||||
Market Awards Price Targets | $ / shares | $ 56 | ||||||||||||||||
Employee Stock Option [Member] | |||||||||||||||||
Proceeds from Stock Options Exercised | $ | $ 1,300,000 | $ 7,700,000 | $ 11,900,000 | ||||||||||||||
Chief Financial Officer [Member] | Restricted Stock Units (RSUs) [Member] | Selling, General and Administrative Expenses [Member] | |||||||||||||||||
Share-based Compensation Adjustment | $ | $ 2,900,000 | ||||||||||||||||
Chief Financial Officer [Member] | 2016 Executive PSUs [Member] | |||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | 32,000 | ||||||||||||||||
Chief Financial Officer [Member] | 2015 MPSUs [Member] | |||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | 13,000 | ||||||||||||||||
Chief Financial Officer [Member] | 2015 Executive PSUs [Member] | |||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | 19,000 | ||||||||||||||||
Chief Financial Officer [Member] | The 2014 Executive PSUs [Member] | |||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | 37,000 | ||||||||||||||||
Chief Financial Officer [Member] | The 2013 Executive PSUs [Member] | |||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | 18,000 | ||||||||||||||||
Chief Financial Officer [Member] | The 2013 Executive MSUs [Member] | |||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | 36,000 | ||||||||||||||||
Employees [Member] | Time-Based RSUs [Member] | |||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | ||||||||||||||||
Director [Member] | Time-Based RSUs [Member] | |||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | ||||||||||||||||
Executive Officer [Member] | 2016 Executive PSUs [Member] | |||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 12,000 | 285,000 | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | ||||||||||||||||
PSUs Maximum Earn-Out | 300.00% | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | ||||||||||||||||
Maximum Stock Compensation Costs | $ | $ 31,800,000 | ||||||||||||||||
Executive Officer [Member] | PSUs [Member] | |||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 172,000 | 252,000 | 220,000 | ||||||||||||||
Executive Officer [Member] | 2015 Executive PSUs [Member] | |||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | ||||||||||||||||
Executive Officer [Member] | 2015 Executive PSUs [Member] | Share-based Compensation Award, Tranche One [Member] | Vesting in The First Quarter of 2017 [Member] | |||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | ||||||||||||||||
Non-Executive Employees [Member] | 2016 Non-Executive PSUs [Member] | |||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 64,000 | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | ||||||||||||||||
Maximum Stock Compensation Costs | $ | $ 6,000,000 | ||||||||||||||||
Non-Executive Employees [Member] | 2016 Non-Executive PSUs [Member] | Minimum [Member] | |||||||||||||||||
PSUs Maximum Earn-Out, Second Tier | 200.00% | ||||||||||||||||
Non-Executive Employees [Member] | 2016 Non-Executive PSUs [Member] | Maximum [Member] | |||||||||||||||||
PSUs Maximum Earn-Out, First Tier | 300.00% | ||||||||||||||||
Non-Executive Employees [Member] | PSUs [Member] | |||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 58,000 | 61,000 | 91,000 | ||||||||||||||
2015 Non-Executive PSUs [Member] | Share-based Compensation Award, Tranche One [Member] | Vesting in The First Quarter of 2017 [Member] | |||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | ||||||||||||||||
Executive Officers and Non-Executive Employees [Member] | The 2013 Executive MSUs [Member] | |||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 360,000 | ||||||||||||||||
The2014 Plan [Member] | |||||||||||||||||
Share-basedCompensation Arrangement by Share-based Payment Award, Other Than Options, Percent Increases in Period | 5.00% | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Automatic Increase Shares | 2,400,000 | ||||||||||||||||
Expired Shares under Plan | 2,900,000 | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 5,500,000 | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 3,800,000 | ||||||||||||||||
The 2004 Employee Stock Purchase Plan [Member] | |||||||||||||||||
Share-basedCompensation Arrangement by Share-based Payment Award, Other Than Options, Percent Increases in Period | 2.00% | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Automatic Increase Shares | 1,000,000 | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 4,600,000 | ||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ | $ 93,000 | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Number of Shares Per Employee | 2,000 | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Number of Shares per Employee Value | 25,000 | ||||||||||||||||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 53,000 | 56,000 | 78,000 | ||||||||||||||
Employee Stock Purchase Plan Shares Issued, Intrinsic Value | $ | $ 1,000,000 | $ 600,000 | $ 900,000 | ||||||||||||||
Proceeds from Stock Plans | $ | $ 2,500,000 | $ 2,200,000 | $ 2,100,000 |
Note 7 - Stock-based Compensa69
Note 7 - Stock-based Compensation - Stock Based Compensation Plan Expenses (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Share based compensation expense | $ 44,989 | $ 41,563 | $ 33,454 |
Cost of Sales [Member] | |||
Share based compensation expense | 1,575 | 1,166 | 903 |
Research and Development Expense [Member] | |||
Share based compensation expense | 14,041 | 11,156 | 9,019 |
Selling, General and Administrative Expenses [Member] | |||
Share based compensation expense | $ 29,373 | $ 29,241 | $ 23,532 |
Note 7 - Stock-based Compensa70
Note 7 - Stock-based Compensation - RSU Summary (Details) - $ / shares | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||
Beginning balance (in shares) | 4,232,000 | 4,048,000 | 3,582,000 | |
Weighted-Average Grant Date Fair Value Per Share (in dollars per share) | $ 32.64 | $ 26.14 | $ 22.53 | |
Granted (in shares) | 1,349,000 | 1,198,000 | 1,287,000 | |
Weighted-Average Grant Date Fair Value Per Share (in dollars per share) | $ 43.28 | $ 48.11 | $ 35.19 | |
Released (in shares) | (975,000) | (948,000) | (772,000) | |
Weighted-Average Grant Date Fair Value Per Share (in dollars per share) | $ 31.36 | $ 24.47 | $ 19.48 | |
Forfeited (in shares) | (336,000) | (66,000) | (49,000) | |
Weighted-Average Grant Date Fair Value Per Share (in dollars per share) | $ 30.38 | $ 33.06 | $ 19.77 | |
Ending balance (in shares) | 4,270,000 | 4,232,000 | 4,048,000 | |
Weighted-Average Grant Date Fair Value Per Share (in dollars per share) | $ 36.47 | $ 32.64 | $ 26.14 | |
Released (in shares) | 975,000 | 948,000 | 772,000 | |
Forfeited (in shares) | 336,000 | 66,000 | 49,000 | |
GrantedWeighted-Average Grant Date Fair Value Per Share (in dollars per share) | $ 43.28 | $ 48.11 | $ 35.19 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 1,349,000 | 1,198,000 | 1,287,000 | |
Time-Based RSUs [Member] | ||||
Beginning balance (in shares) | 499,000 | 589,000 | 754,000 | |
Weighted-Average Grant Date Fair Value Per Share (in dollars per share) | $ 40.75 | $ 28.48 | $ 19.41 | |
Granted (in shares) | 133,000 | 271,000 | 335,000 | |
Weighted-Average Grant Date Fair Value Per Share (in dollars per share) | $ 63 | $ 49.82 | $ 36.71 | |
Released (in shares) | (239,000) | (319,000) | (468,000) | |
Weighted-Average Grant Date Fair Value Per Share (in dollars per share) | $ 36.43 | $ 26.56 | $ 20.36 | |
Forfeited (in shares) | (27,000) | (42,000) | (32,000) | |
Weighted-Average Grant Date Fair Value Per Share (in dollars per share) | $ 45.35 | $ 35.60 | $ 19.75 | |
Ending balance (in shares) | 366,000 | 499,000 | 589,000 | |
Weighted-Average Grant Date Fair Value Per Share (in dollars per share) | $ 51.35 | $ 40.75 | $ 28.48 | |
Released (in shares) | 239,000 | 319,000 | 468,000 | |
Forfeited (in shares) | 27,000 | 42,000 | 32,000 | |
GrantedWeighted-Average Grant Date Fair Value Per Share (in dollars per share) | $ 63 | $ 49.82 | $ 36.71 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 133,000 | 271,000 | 335,000 | |
PSUs and MPSUs [Member] | ||||
Beginning balance (in shares) | 1,933,000 | 1,659,000 | 1,028,000 | |
Weighted-Average Grant Date Fair Value Per Share (in dollars per share) | $ 38.99 | $ 28.11 | $ 23.02 | |
Granted (in shares) | [1] | 1,216,000 | 927,000 | 952,000 |
Weighted-Average Grant Date Fair Value Per Share (in dollars per share) | $ 41.12 | $ 47.61 | $ 34.65 | |
Released (in shares) | (736,000) | (629,000) | (304,000) | |
Weighted-Average Grant Date Fair Value Per Share (in dollars per share) | $ 29.71 | $ 23.40 | $ 18.12 | |
Forfeited (in shares) | (129,000) | (24,000) | (17,000) | |
Weighted-Average Grant Date Fair Value Per Share (in dollars per share) | $ 36.82 | $ 28.68 | $ 19.79 | |
Ending balance (in shares) | 2,284,000 | 1,933,000 | 1,659,000 | |
Weighted-Average Grant Date Fair Value Per Share (in dollars per share) | $ 43.24 | $ 38.99 | $ 28.11 | |
Released (in shares) | 736,000 | 629,000 | 304,000 | |
Forfeited (in shares) | 129,000 | 24,000 | 17,000 | |
GrantedWeighted-Average Grant Date Fair Value Per Share (in dollars per share) | $ 41.12 | $ 47.61 | $ 34.65 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | [1] | 1,216,000 | 927,000 | 952,000 |
MSUs [Member] | ||||
Beginning balance (in shares) | 1,800,000 | 1,800,000 | 1,800,000 | |
Weighted-Average Grant Date Fair Value Per Share (in dollars per share) | $ 23.57 | $ 23.57 | $ 23.57 | |
Granted (in shares) | ||||
Weighted-Average Grant Date Fair Value Per Share (in dollars per share) | ||||
Released (in shares) | ||||
Weighted-Average Grant Date Fair Value Per Share (in dollars per share) | ||||
Forfeited (in shares) | (180,000) | |||
Weighted-Average Grant Date Fair Value Per Share (in dollars per share) | $ 23.57 | |||
Ending balance (in shares) | 1,620,000 | 1,800,000 | 1,800,000 | |
Weighted-Average Grant Date Fair Value Per Share (in dollars per share) | $ 23.57 | $ 23.57 | $ 23.57 | |
Released (in shares) | ||||
Forfeited (in shares) | 180,000 | |||
GrantedWeighted-Average Grant Date Fair Value Per Share (in dollars per share) | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | ||||
[1] | Amount reflects the number of PSUs and MPSUs that may ultimately be earned based on management’s probability assessment of the performance conditions at each reporting period. In addition, MPSUs are subject to the achievement of market conditions. |
Note 7 - Stock-Based Compensa71
Note 7 - Stock-Based Compensation - Stock Options (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Outstanding, shares (in shares) | 90 | 590 | 1,356 | |
Outstanding, Weighted average exercise price (in dollars per share) | $ 17.50 | $ 15.80 | $ 15.86 | |
Outstanding, Weighted average remaining contractual term (Year) | 1 year | 1 year 109 days | 1 year 73 days | 1 year 328 days |
Outstanding, Aggregate intrinsic value | $ 921 | $ 4,134 | $ 20,039 | $ 25,506 |
Exercised, shares (in shares) | (76) | (498) | (742) | |
Exercised, Weighted average exercise price (in dollars per share) | $ 17.80 | $ 15.55 | $ 16.09 | |
Forfeited and expired, shares (in shares) | (2) | (24) | ||
Forfeited and expired, Weighted average exercise price (in dollars per share) | $ 6.10 | $ 10.07 | ||
Outstanding, shares (in shares) | 14 | 90 | 590 | 1,356 |
Outstanding, Weighted average exercise price (in dollars per share) | $ 15.88 | $ 17.50 | $ 15.80 | $ 15.86 |
Options exercisable at December 31, 2016 and expected to vest, shares (in shares) | 14 | |||
Options exercisable at December 31, 2016 and expected to vest, Weighted average exercise price (in dollars per share) | $ 15.88 | |||
Options exercisable at December 31, 2016 and expected to vest, Weighted average remaining contractual term (Year) | 1 year | |||
Options exercisable at December 31, 2016 and expected to vest, Aggregate intrinsic value | $ 921 | |||
Options exercisable, shares (in shares) | 14 | |||
Options exercisable, Weighted average exercise price (in dollars per share) | $ 15.88 | |||
Options exercisable, Weighted average remaining contractual term (Year) | 1 year | |||
Options exercisable, Aggregate intrinsic value | $ 921 |
Note 7 - Stock-based Compensa72
Note 7 - Stock-based Compensation - Valuation Assumptions (Details) - 2004 Employee Stock Plan [Member] - Employee Stock Purchase Plan [Member] | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Expected term (years) (Year) | 182 days | 182 days | 182 days |
Expected volatility | 28.60% | 30.30% | 29.40% |
Risk-free interest rate | 0.40% | 0.20% | 0.10% |
Dividend yield | 1.20% | 1.40% | 0.70% |
Note 8 - Stock Repurchase Pro73
Note 8 - Stock Repurchase Programs (Details Textual) - USD ($) $ in Millions | Dec. 31, 2016 | Feb. 29, 2016 | Dec. 31, 2015 | Jul. 31, 2013 |
Stock Repurchase Program, Authorized Amount | $ 50 | $ 100 | ||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 50 | $ 5.9 |
Note 8 - Stock Repurchase Pro74
Note 8 - Stock Repurchase Program - Stock Repurchase Program (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Shares repurchased (in shares) | 645 | 1,051 | |
Average price per share (in dollars per share) | $ 50.05 | $ 39.19 | |
Total amount | $ 32,286 | $ 41,198 |
Note 9 - Dividends and Divide75
Note 9 - Dividends and Dividend Equivalents (Details Textual) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Dividends Payable, Current | $ 8.2 | $ 7.9 |
Accrued Dividend Equivalents | $ 4.1 | $ 2.8 |
Note 9 - Dividends and Divide76
Note 9 - Dividends and Dividend Equivalents - Cash Dividends (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Dividend declared per share (in dollars per share) | $ 0.80 | $ 0.80 | $ 0.45 |
Total amount | $ 32,434 | $ 31,618 | $ 17,466 |
Note 10 - Interest Income and O
Note 10 - Interest Income and Other Income, Net - Interest and Other Income Components (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Interest income | $ 2,488 | $ 1,608 | $ 1,112 | ||||||||
Amortization of premium on available-for-sale investments | (1,019) | (463) | (237) | ||||||||
Gain (loss) on employee deferred compensation plan investments | 1,257 | (375) | 141 | ||||||||
Foreign currency exchange gain | 65 | 608 | 80 | ||||||||
Other | 26 | 43 | (4) | ||||||||
Total | $ 897 | $ 780 | $ 597 | $ 543 | $ 550 | $ (6) | $ 235 | $ 642 | $ 2,817 | $ 1,421 | $ 1,092 |
Note 11 - Net Income Per Shar78
Note 11 - Net Income Per Share - Net Income Per Share Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Numerator: | |||||||||||
Net income | $ 16,573 | $ 14,373 | $ 11,198 | $ 10,575 | $ 10,110 | $ 11,201 | $ 7,899 | $ 5,963 | $ 52,720 | $ 35,172 | $ 35,495 |
Denominator: | |||||||||||
Weighted-average shares outstanding, basic (in shares) | 40,436 | 39,470 | 38,686 | ||||||||
Effect of dilutive securities (in shares) | 1,479 | 1,399 | 1,107 | ||||||||
Weighted-average shares outstanding, diluted (in shares) | 42,404 | 41,895 | 41,716 | 41,646 | 41,445 | 40,689 | 40,745 | 40,596 | 41,915 | 40,869 | 39,793 |
Net income per share: | |||||||||||
Earnings per share, basic (in dollars per share) | $ 0.41 | $ 0.35 | $ 0.28 | $ 0.26 | $ 0.26 | $ 0.28 | $ 0.20 | $ 0.15 | $ 1.30 | $ 0.89 | $ 0.92 |
Earnings per share, diluted (in dollars per share) | $ 0.39 | $ 0.34 | $ 0.27 | $ 0.25 | $ 0.24 | $ 0.28 | $ 0.19 | $ 0.15 | $ 1.26 | $ 0.86 | $ 0.89 |
Note 12 - Income Taxes (Details
Note 12 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||
Apr. 30, 2015 | Jun. 30, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Apr. 30, 2011 | |
Undistributed Earnings of Foreign Subsidiaries | $ 284,800 | $ 214,300 | |||||
Deferred Tax Assets, Valuation Allowance | 27,354 | 18,614 | |||||
Increase in Federal R&D Credit | 2,200 | ||||||
Unrecognized Tax Benefits | 14,431 | 12,093 | $ 16,406 | $ 14,922 | |||
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 3,500 | 2,700 | |||||
Unrecognized Tax Benefits, Interest on Income Taxes Accrued | 300 | $ 200 | |||||
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority | $ 10,500 | ||||||
Tax Adjustments, Settlements, and Unusual Provisions | $ 2,700 | ||||||
Income Tax Examination, Tax Payment | 1,600 | ||||||
Income Tax Examination, Interest Expense | $ 1,100 | ||||||
State and Local Jurisdiction [Member] | |||||||
Operating Loss Carryforwards | 20,300 | ||||||
Tax Credit Carryforward, Amount | 18,300 | ||||||
State and Local Jurisdiction [Member] | Additional Paid-in Capital [Member] | |||||||
Operating Loss Carryforwards | 20,300 | ||||||
Tax Credit Carryforward, Amount | 1,800 | ||||||
Domestic Tax Authority [Member] | |||||||
Operating Loss Carryforwards | 0 | ||||||
Tax Credit Carryforward, Amount | $ 17,800 | ||||||
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | |||||||
Income Tax Examination, Year under Examination | 2,014 | ||||||
Income Taxes Paid | $ 1,200 | $ 100 | |||||
Interest Paid | $ 1,000 | ||||||
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | Earliest Tax Year [Member] | |||||||
Income Tax Examination, Year under Examination | 2,005 | ||||||
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | Latest Tax Year [Member] | |||||||
Income Tax Examination, Year under Examination | 2,007 | ||||||
Domestic Tax Authority [Member] | Additional Paid-in Capital [Member] | |||||||
Tax Credit Carryforward, Amount | $ 8,100 |
Note 12 - Income Taxes - Compon
Note 12 - Income Taxes - Components of Income Before Income Tax (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
United States | $ (14,431) | $ (247) | $ 3,173 | ||||||||
International | 71,695 | 42,738 | 33,219 | ||||||||
Income before income taxes | $ 18,439 | $ 15,781 | $ 12,124 | $ 10,919 | $ 12,343 | $ 13,304 | $ 10,346 | $ 6,499 | $ 57,264 | $ 42,491 | $ 36,392 |
Note 12 - Income Taxes - Comp81
Note 12 - Income Taxes - Components of Income Tax Provision (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Federal | $ 2,527 | $ 6,042 | $ 18 | ||||||||
State | 2 | (28) | |||||||||
Foreign | 2,013 | 1,213 | 943 | ||||||||
Foreign | 4 | 62 | (36) | ||||||||
Total income tax provision | $ 1,866 | $ 1,408 | $ 926 | $ 344 | $ 2,233 | $ 2,103 | $ 2,447 | $ 536 | $ 4,544 | $ 7,319 | $ 897 |
Note 12 - Income Taxes - Income
Note 12 - Income Taxes - Income Tax Rate Reconciliation (Details) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
U.S. statutory federal tax rate | 34.00% | 34.00% | 34.00% |
Settlement with tax authorities | 6.20% | ||
Foreign income at lower rates | (41.10%) | (43.10%) | (27.70%) |
Changes in valuation allowance | 11.00% | 17.60% | 5.90% |
Stock-based compensation | 2.20% | (9.30%) | |
Reserves and other | 1.80% | 2.50% | (0.40%) |
Effective tax rate | 7.90% | 17.20% | 2.50% |
Note 12 - Income Taxes - Deferr
Note 12 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Research tax credits | $ 9,817 | $ 8,869 |
Deferred compensation | 6,752 | 5,038 |
Stock-based compensation | 7,283 | 1,912 |
Other expenses not currently deductible | 3,974 | 3,519 |
Depreciation and amortization | 161 | (52) |
Total deferred tax assets | 27,987 | 19,286 |
Valuation allowance | (27,354) | (18,614) |
Net deferred tax assets | $ 633 | $ 672 |
Note 12 - Income Taxes - Unreco
Note 12 - Income Taxes - Unrecognized Tax Benefits Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Balance | $ 12,093 | $ 16,406 | $ 14,922 |
Increase for tax position of prior year | 243 | 584 | |
Increase for tax position of current year | 2,095 | 1,964 | 1,760 |
Decrease due to lapse of statue of limitation | (669) | (860) | |
Balance | $ 14,431 | 12,093 | $ 16,406 |
Decrease related to settlement with tax authorities | (4,162) | ||
Decrease for tax position of prior year | $ (1,446) |
Note 13 - Commitments and Con85
Note 13 - Commitments and Contingencies (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Operating Leases, Rent Expense | $ 1,700,000 | $ 1,800,000 | $ 1,500,000 |
Indemnification Agreement [Member] | |||
Other Liabilities | $ 0 | $ 0 | $ 0 |
Note 13 - Commitments and Con86
Note 13 - Commitments and Contingencies - Future Minimum Payments Under Non-cancelable Operating Leases (Details) $ in Thousands | Dec. 31, 2016USD ($) |
2,017 | $ 969 |
2,018 | 368 |
2,019 | 249 |
2,020 | 114 |
Total | $ 1,700 |
Note 13 - Commitments and Con87
Note 13 - Commitments and Contingencies - Changes in Warranty Reserves (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Balance | $ 289 | $ 240 | $ 451 |
Warranty provision for product sales | 1,102 | 333 | 282 |
Settlements made | (68) | (158) | (42) |
Unused warranty provision | (293) | (126) | (451) |
Balance | $ 1,030 | $ 289 | $ 240 |
Note 14 - Litigation (Details T
Note 14 - Litigation (Details Textual) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||||||
Nov. 30, 2013 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Jan. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2012 | |
Gain (Loss) Related to Litigation Settlement | $ 321 | $ (55) | $ 8 | $ (45) | $ (283) | $ (136) | $ (311) | $ (270) | $ 229 | $ (1,000) | $ 8,027 | |||||
Silergy Patent Litigation [Member] | ||||||||||||||||
Litigation Settlement, Amount | 3,000 | |||||||||||||||
Litigation Settlement, Credit to Litigation expense | 600 | |||||||||||||||
Litigation Settlement, Grant of Patent Licenses for Future Use | $ 2,400 | |||||||||||||||
Litigation settlement, Patent License, Amortization Period | 5 years | |||||||||||||||
O2 Micro Patent Litigation [Member] | ||||||||||||||||
Proceeds from Legal Settlements | $ 9,500 | |||||||||||||||
Loss Contingency, Estimate of Possible Loss | $ 9,500 | |||||||||||||||
Loss Contingency, Accrual, Current | $ 9,500 | |||||||||||||||
Gain (Loss) Related to Litigation Settlement | $ 9,500 | |||||||||||||||
Litigation Settlement, Expense | $ 500 | |||||||||||||||
O2 Micro Patent Litigation [Member] | Attorney Fees [Member] | ||||||||||||||||
Gain Contingency, Unrecorded Amount | $ 9,100 | |||||||||||||||
O2 Micro Patent Litigation [Member] | Taxable Costs [Member] | ||||||||||||||||
Gain Contingency, Unrecorded Amount | $ 300 |
Note 15 - Employee 401(k) Plan
Note 15 - Employee 401(k) Plan (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
401(k) Plan | $ 0 | $ 0 | $ 0 |
Note 16 - Significant Custome90
Note 16 - Significant Customers - Customers with Sales Greater than 10% (Details) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Distributor A [Member] | Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | |||
Concentration risk | 22.00% | 24.00% | 26.00% |
Note 16 - Significant Custome91
Note 16 - Significant Customers - Customers with Accounts Receivable Greater than 10% (Details) - Accounts Receivable [Member] - Customer Concentration Risk [Member] | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Distributor A [Member] | ||
Concentration risk | 19.00% | 28.00% |
Distributor B [Member] | ||
Concentration risk | 17.00% | 17.00% |
Note 17 - Segment and Geograp92
Note 17 - Segment and Geographic Information (Details Textual) | 12 Months Ended |
Dec. 31, 2016 | |
Number of Reportable Segments | 1 |
Note 17 - Segment and Geograp93
Note 17 - Segment and Geographic Information - Revenue by Region (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Revenue | $ 103,618 | $ 106,456 | $ 94,079 | $ 84,512 | $ 86,918 | $ 91,194 | $ 81,416 | $ 73,538 | $ 388,665 | $ 333,067 | $ 282,535 |
CHINA | |||||||||||
Revenue | 245,169 | 213,119 | 181,050 | ||||||||
TAIWAN, PROVINCE OF CHINA | |||||||||||
Revenue | 45,414 | 41,521 | 38,460 | ||||||||
KOREA, REPUBLIC OF | |||||||||||
Revenue | 27,710 | 20,519 | 14,362 | ||||||||
Europe [Member] | |||||||||||
Revenue | 27,554 | 22,603 | 19,830 | ||||||||
South East Asia [Member] | |||||||||||
Revenue | 19,645 | 18,592 | 13,993 | ||||||||
JAPAN | |||||||||||
Revenue | 14,318 | 9,727 | 8,251 | ||||||||
UNITED STATES | |||||||||||
Revenue | 8,567 | 6,732 | 6,392 | ||||||||
Other Region [Member] | |||||||||||
Revenue | $ 288 | $ 254 | $ 197 |
Note 17 - Segment and Geograp94
Note 17 - Segment and Geographic Information - Revenue by Market Segments (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Revenue | $ 103,618 | $ 106,456 | $ 94,079 | $ 84,512 | $ 86,918 | $ 91,194 | $ 81,416 | $ 73,538 | $ 388,665 | $ 333,067 | $ 282,535 |
Consumer Market Segment [Member] | |||||||||||
Revenue | 153,732 | 145,090 | 122,733 | ||||||||
Industrial Market Segment [Member] | |||||||||||
Revenue | 89,639 | 66,343 | 49,037 | ||||||||
Computing and Storage Market Segment [Member] | |||||||||||
Revenue | 80,562 | 56,568 | 46,147 | ||||||||
Communications Market Segment [Member] | |||||||||||
Revenue | $ 64,732 | $ 65,066 | $ 64,618 |
Note 17 - Segment and Geograp95
Note 17 - Segment and Geographic Information - Revenue by Product Family (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Revenue | $ 103,618 | $ 106,456 | $ 94,079 | $ 84,512 | $ 86,918 | $ 91,194 | $ 81,416 | $ 73,538 | $ 388,665 | $ 333,067 | $ 282,535 |
DC To DC Products [Member] | |||||||||||
Revenue | 350,930 | 299,726 | 253,083 | ||||||||
Lighting Control Products [Member] | |||||||||||
Revenue | $ 37,735 | $ 33,341 | $ 29,452 |
Note 17 - Segment and Geograp96
Note 17 - Segment and Geographic Information - Long Lived Assets by Geographic Region (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Long lived assets by region | $ 115,033 | $ 93,324 |
UNITED STATES | ||
Long lived assets by region | 50,242 | 40,405 |
CHINA | ||
Long lived assets by region | 45,728 | 40,738 |
BERMUDA | ||
Long lived assets by region | 9,573 | 11,624 |
TAIWAN, PROVINCE OF CHINA | ||
Long lived assets by region | 8,919 | 126 |
Other Region [Member] | ||
Long lived assets by region | $ 571 | $ 431 |
Note 18 - Accumulated Other C97
Note 18 - Accumulated Other Comprehensive Income (Loss) - Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Balance | $ 1,466 | $ 5,811 | |
Other comprehensive loss before reclassifications | (5,656) | (4,340) | |
Amounts reclassified from accumulated other comprehensive income | (25) | (5) | |
Net current period other comprehensive loss | (5,681) | (4,345) | $ (449) |
Balance | (4,215) | 1,466 | 5,811 |
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | Available-for-sale Securities [Member] | |||
Balance | (375) | (196) | |
Other comprehensive loss before reclassifications | (623) | (174) | |
Amounts reclassified from accumulated other comprehensive income | (25) | (5) | |
Net current period other comprehensive loss | (648) | (179) | |
Balance | (1,023) | (375) | (196) |
Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | |||
Balance | 1,841 | 6,007 | |
Other comprehensive loss before reclassifications | (5,033) | (4,166) | |
Amounts reclassified from accumulated other comprehensive income | |||
Net current period other comprehensive loss | (5,033) | (4,166) | |
Balance | $ (3,192) | $ 1,841 | $ 6,007 |
Note 19 - Quarterly Financial98
Note 19 - Quarterly Financial Data (Unaudited) - Summary of Quarterly Financial Data (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Revenue | $ 103,618 | $ 106,456 | $ 94,079 | $ 84,512 | $ 86,918 | $ 91,194 | $ 81,416 | $ 73,538 | $ 388,665 | $ 333,067 | $ 282,535 |
Cost of revenue | 47,107 | 48,531 | 43,153 | 39,002 | 40,001 | 41,754 | 37,287 | 33,855 | 177,792 | 152,898 | 129,917 |
Gross profit | 56,511 | 57,925 | 50,926 | 45,510 | 46,917 | 49,440 | 44,129 | 39,683 | 210,873 | 180,169 | 152,618 |
Research and development | 17,974 | 20,472 | 17,876 | 17,321 | 16,734 | 17,272 | 15,743 | 16,038 | 73,643 | 65,787 | 58,590 |
Selling, general and administrative | 21,316 | 22,397 | 21,531 | 17,768 | 18,107 | 18,722 | 17,964 | 17,518 | 83,012 | 72,312 | 66,755 |
Litigation expense (benefit), net | (321) | 55 | (8) | 45 | 283 | 136 | 311 | 270 | (229) | 1,000 | (8,027) |
Total operating expenses | 38,969 | 42,924 | 39,399 | 35,134 | 35,124 | 36,130 | 34,018 | 33,826 | 156,426 | 139,099 | 117,318 |
Income from operations | 17,542 | 15,001 | 11,527 | 10,376 | 11,793 | 13,310 | 10,111 | 5,857 | 54,447 | 41,070 | 35,300 |
Interest and other income (expense), net | 897 | 780 | 597 | 543 | 550 | (6) | 235 | 642 | 2,817 | 1,421 | 1,092 |
Income before income taxes | 18,439 | 15,781 | 12,124 | 10,919 | 12,343 | 13,304 | 10,346 | 6,499 | 57,264 | 42,491 | 36,392 |
Income tax provision | 1,866 | 1,408 | 926 | 344 | 2,233 | 2,103 | 2,447 | 536 | 4,544 | 7,319 | 897 |
Net income | $ 16,573 | $ 14,373 | $ 11,198 | $ 10,575 | $ 10,110 | $ 11,201 | $ 7,899 | $ 5,963 | $ 52,720 | $ 35,172 | $ 35,495 |
Earnings per share, basic (in dollars per share) | $ 0.41 | $ 0.35 | $ 0.28 | $ 0.26 | $ 0.26 | $ 0.28 | $ 0.20 | $ 0.15 | $ 1.30 | $ 0.89 | $ 0.92 |
Earnings per share, diluted (in dollars per share) | $ 0.39 | $ 0.34 | $ 0.27 | $ 0.25 | $ 0.24 | $ 0.28 | $ 0.19 | $ 0.15 | $ 1.26 | $ 0.86 | $ 0.89 |
Weighted-average shares outstanding, basic (in shares) | 40,739 | 40,590 | 40,387 | 40,028 | 39,615 | 39,592 | 39,570 | 39,105 | |||
Weighted-average shares outstanding, diluted (in shares) | 42,404 | 41,895 | 41,716 | 41,646 | 41,445 | 40,689 | 40,745 | 40,596 | 41,915 | 40,869 | 39,793 |
Cash dividends declared per common share (in dollars per share) | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.20 | $ 0.80 | $ 0.80 | $ 0.45 |