Onto Innovation (ONTO) 10-Q 4 May 23 2023 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	3 Months Ended
	Apr. 01, 2023	Apr. 18, 2023
Cover [Abstract]
Entity Registrant Name	ONTO INNOVATION INC.
Trading Symbol	ONTO
Entity Central Index Key	0000704532
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Apr. 01, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Amendment Flag	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Entity Shell Company	false
Title of 12(b) Security	Common Stock, $0.001 par value per share
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		48,945,470
Entity File Number	001-39110
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-2276314
Entity Address, Address Line One	16 Jonspin Road
Entity Address, City or Town	Wilmington
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01887
City Area Code	978
Local Phone Number	253-6200

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 01, 2023	Apr. 02, 2022
Income Statement [Abstract]
Revenue	$ 199,165	$ 241,350
Cost of revenue	94,190	110,327
Gross profit	104,975	131,023
Operating expenses:
Research and development	27,242	26,341
Sales and marketing	15,637	15,632
General and administrative	19,237	16,487
Amortization	13,824	13,819
Total operating expenses	75,940	72,279
Operating income	29,035	58,744
Interest income, net	3,448	377
Other expense, net	(281)	(204)
Income before provision for income taxes	32,202	58,917
Provision for income taxes	3,134	5,587
Net income	$ 29,068	$ 53,330
Earnings per share:
Basic	$ 0.60	$ 1.08
Diluted	$ 0.59	$ 1.07
Weighted average shares outstanding:
Basic	48,788	49,437
Diluted	49,109	49,915

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2023	Apr. 02, 2022
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 29,068	$ 53,330
Other comprehensive loss, net of tax:
Change in net unrealized gains (losses) on available-for-sale marketable securities	1,392	(3,001)
Change in currency translation adjustments	1,090	(3,612)
Total other comprehensive loss, net of tax	2,482	(6,613)
Total comprehensive income	$ 31,550	$ 46,717

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Apr. 01, 2023	Dec. 31, 2022
Current Assets:
Cash and cash equivalents	$ 230,484	$ 175,872
Marketable securities	353,034	371,912
Accounts receivable, less allowance of $1,182 and $1,303	209,624	241,395
Inventories, net	338,358	324,282
Prepaid expenses and other current assets	23,596	21,411
Total current assets	1,155,096	1,134,872
Property, plant and equipment, net	97,624	91,980
Goodwill	315,811	315,811
Identifiable intangible assets, net	208,373	222,197
Deferred income taxes	4,787	4,778
Other assets	21,153	25,225
Total assets	1,802,844	1,794,863
Current liabilities:
Accounts payable	53,700	54,526
Accrued liabilities	37,804	48,836
Deferred revenue	27,702	30,163
Other current liabilities	29,212	27,033
Total current liabilities	148,418	160,558
Deferred income taxes	1,741	7,366
Other non-current liabilities	28,060	30,513
Total liabilities	178,219	198,437
Commitments and contingencies
Stockholders’ equity:
Common stock	49	49
Additional paid-in capital	1,241,839	1,243,631
Accumulated other comprehensive (loss) income	(7,528)	(10,010)
Retained earnings	390,265	362,756
Total stockholders’ equity	1,624,625	1,596,426
Total liabilities and stockholders’ equity	$ 1,802,844	$ 1,794,863

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) (Unaudited) - USD ($) $ in Thousands	Apr. 01, 2023	Dec. 31, 2022
Statement Of Financial Position [Abstract]
Allowances for doubtful accounts	$ 1,125	$ 1,572

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2023	Apr. 02, 2022
Cash flows from operating activities:
Net income	$ 29,068	$ 53,330
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:
Amortization of intangibles	13,824	13,819
Depreciation	2,916	2,366
Share-based compensation	6,119	4,832
Provision for inventory valuation	5,360	2,115
Deferred income taxes	(5,626)	(6,848)
Other, net	(611)	(1,226)
Changes in operating assets and liabilities, net of effects of business acquired	(983)	25,384
Net cash and cash equivalents provided by operating activities	50,067	45,456
Cash flows from investing activities:
Purchases of marketable securities	(88,590)	(97,490)
Proceeds from maturities and sales of marketable securities	109,683	66,684
Purchases of property, plant and equipment	(7,855)	(2,494)
Net cash and cash equivalents used in investing activities	13,238	(33,300)
Cash flows from financing activities:
Purchases and retirement of common stock	(3,197)	0
Tax payments related to shares withheld for share-based compensation plans	(6,273)	(5,289)
Payment of contingent consideration for acquired business	0	(2,287)
Issuance of shares through share-based compensation plans	0	6
Net cash and cash equivalents used in financing activities	(9,470)	(7,570)
Effect of exchange rate changes on cash and cash equivalents	777	(1,725)
Net increase in cash and cash equivalents	54,612	2,861
Cash and cash equivalents at beginning of period	175,872	169,602
Cash and cash equivalents at end of period	230,484	172,463
Supplemental disclosure of cash flow information:
Income taxes paid (net of refunds)	$ 808	$ 1,331

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings [Member]
Net income	$ 53,330				$ 53,330
Share-based compensation	4,832		$ 4,832
Issuance of shares through share-based compensation plans	6		6
Issuance of shares through share-based compensation plans, Shares		184,000
Share-based compensation plan withholdings	(5,289)		(5,289)
Share-based compensation plan withholdings, Shares		(46,000)
Currency translation	(3,612)			$ (3,612)
Unrealized gain (loss) on investments	(3,001)			(3,001)
Balance - Ending Balance at Apr. 02, 2022	1,472,321	$ 49	1,255,728	5,297	221,841
Balance - Beginning Balance at Jan. 01, 2022	1,426,055	$ 49	1,256,179	1,316	168,511
Balance, Shares - Beginning Balance at Jan. 01, 2022		49,300
Balance, shares - Ending Balance at Apr. 02, 2022		49,438,000
Net income	29,068				29,068
Share-based compensation	6,119		6,119
Issuance of shares through share-based compensation plans	0
Issuance of shares through share-based compensation plans, Shares		225
Purchases of common stock	$ 3,197		1,638		1,559
Purchases of common stock (in shares)	(46,000)	46
Share-based compensation plan withholdings	$ 6,273		6,273
Share-based compensation plan withholdings, Shares		62
Currency translation	1,090			1,090
Unrealized gain (loss) on investments	1,392			1,392
Balance - Ending Balance at Apr. 01, 2023	1,624,625	$ 49	1,241,839	(7,528)	390,265
Balance - Beginning Balance at Dec. 31, 2022	$ 1,596,426	$ 49	$ 1,243,631	$ (10,010)	$ 362,756
Balance, Shares - Beginning Balance at Dec. 31, 2022		48,684,000
Balance, shares - Ending Balance at Apr. 01, 2023		48,801,000

Basis of Presentation

Basis of Presentation	3 Months Ended
	Apr. 01, 2023
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	NOTE 1. Basis of Presentation The accompanying interim unaudited Condensed Consolidated Financial Statements have been prepared by Onto Innovation Inc. (together with its consolidated subsidiaries, unless otherwise specified or suggested by the context, the “Company,” “Onto Innovation,” “we,” “our” or “us”) and in the opinion of management reflect all adjustments, consisting of normal recurring accruals, necessary for their fair presentation in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Preparing financial statements requires management to make estimates and assumptions that affect amounts reported in the financial statements and accompanying notes. Actual amounts could differ materially from reported amounts. The interim results for the three months ended April 1, 2023 are not necessarily indicative of results to be expected for the entire year or any future periods. This interim financial information should be read in conjunction with the financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 (the “2022 Form 10-K”) filed with the Securities and Exchange Commission (“SEC”) on February 24, 2023. The accompanying Condensed Consolidated Balance Sheet at December 31, 2022 has been derived from the audited consolidated financial statements included in the 2022 Form 10-K. The Company operates on a 52- or 53-week fiscal year ending on the Saturday closest to December 31. Our fiscal year ending December 30, 2023 (“fiscal year 2023”) is a 52-week fiscal year. The first quarter of the Company’s fiscal year 2023 ended on April 1, 2023, the second quarter ends on July 1, 2023 and the third quarter ends on September 30, 2023. Our fiscal year ended December 31, 2022 was a 52-week fiscal year. The first quarter of the fiscal year ended December 31, 2022 ended on April 2, 2022. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Significant estimates made by management include excess and obsolete inventory, fair value of assets acquired and liabilities assumed in a business combination, recoverability and useful lives of property, plant and equipment and identifiable intangible assets, recoverability of goodwill, recoverability of deferred tax assets, allowance for credit losses, liabilities for product warranty, contingencies, including litigation reserves and share-based payments and liabilities for tax uncertainties. Actual results could differ from those estimates. These estimates and assumptions are based on historical experience and on various other factors which the Company believes to be reasonable under the circumstances. The Company may engage third-party valuation specialists to assist with estimates related to the valuation of financial instruments, assets and stock awards associated with various contractual arrangements. Such estimates often require the selection of appropriate valuation methodologies and significant judgment. Actual results could differ from these estimates under different assumptions or circumstances and such differences could be material. Adoption of Accounting Standards There have been no recent accounting pronouncements or changes in accounting pronouncements during the three months ended April 1, 2023, as compared to the recent accounting pronouncements described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, that are of significance, or potential significance to the Company.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Apr. 01, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	NOTE 2. Fair Value Measurements Fair Value of Financial Instruments The Company has evaluated the estimated fair value of financial instruments using available market information and valuations as provided by third-party sources. The use of different market assumptions and/or estimation methodologies could have a significant effect on the estimated fair value amounts. The carrying value of cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities approximates fair value because of the short-term maturity of these instruments. Fair Value Hierarchy The Company applies a three-level valuation hierarchy for fair value measurements. This hierarchy prioritizes the inputs into three broad levels. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the asset or liability. Level 3 inputs are unobservable inputs based on management’s assumptions used to measure assets and liabilities at fair value. A financial asset’s or liability’s fair value measurement classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The following tables provide the assets and liabilities carried at fair value measured on a recurring basis at April 1, 2023 and December 31, 2022: Fair Value Measurements Using Carrying Quoted Prices in Significant Other Significant April 1, 2023 Assets: Available-for-sale debt securities: Municipal notes and bonds $ 169,433 $ — $ 169,433 $ — Asset-backed securities 1,107 — 1,107 — Certificates of deposit 55,060 — 55,060 — Commercial paper 71,785 — 71,785 — Corporate bonds 55,649 — 55,649 — Total assets $ 353,034 $ — $ 353,034 $ — Liabilities: Foreign currency forward contracts 4 — 4 — Total liabilities $ 4 $ — $ 4 $ — December 31, 2022 Assets: Available-for-sale debt securities: Municipal notes and bonds $ 178,868 $ — $ 178,868 $ — Asset-backed securities 1,534 — 1,534 — Certificates of deposit 52,095 — 52,095 — Commercial paper 80,079 — 80,079 — Corporate bonds 59,335 — 59,335 — Total assets $ 371,912 $ — $ 371,912 $ — Liabilities: Foreign currency forward contracts $ 135 $ — $ 135 $ — Total liabilities $ 135 $ — $ 135 $ — Available-for-sale debt securities classified as Level 2 are valued using observable inputs to quoted market prices, benchmark yields, reported trades, broker/dealer quotes or alternative pricing sources with reasonable levels of price transparency. The foreign currency forward contracts are primarily measured based on the foreign currency spot and forward rates quoted by the banks or foreign currency dealers. Investment prices are obtained from third party pricing providers, which model prices utilizing the above observable inputs, for each asset class. Level 3 investments consisted of contingent consideration related to an acquisition for which the Company uses revenue projections to value this liability. See Note 3 for additional discussion regarding the fair value of the Company’s marketable securities.

Marketable Securities

Marketable Securities	3 Months Ended
	Apr. 01, 2023
Marketable Securities [Abstract]
Marketable Securities	NOTE 3. Marketable Securities At April 1, 2023 and December 31, 2022, marketable securities are categorized as follows: Amortized Cost Gross Unrealized Holding Gains Gross Unrealized Holding Losses Fair Value April 1, 2023 Municipal notes and bonds $ 170,829 $ 71 $ 1,467 $ 169,433 Asset-backed securities 1,123 — 16 1,107 Certificates of deposit 55,129 16 85 55,060 Commercial paper 71,884 6 106 71,784 Corporate bonds 56,225 79 654 55,650 Total marketable securities $ 355,190 $ 172 $ 2,328 $ 353,034 December 31, 2022 Municipal notes and bonds $ 181,196 $ 27 $ 2,355 $ 178,868 Asset-backed securities 1,555 — 21 1,534 Certificates of deposit 52,190 24 118 52,095 Commercial paper 80,199 16 136 80,079 Corporate bonds 60,334 4 1,003 59,335 Total marketable securities $ 375,474 $ 71 $ 3,633 $ 371,912 The amortized cost and estimated fair value of marketable securities classified by the maturity date listed on the security, regardless of the Condensed Consolidated Balance Sheets classification, is as follows at April 1, 2023 and December 31, 2022: April 1, 2023 December 31, 2022 Amortized Cost Fair Value Amortized Cost Fair Value Due within one year $ 278,295 $ 276,557 $ 311,934 $ 309,385 Due after one through five years 76,895 76,477 63,540 62,527 Due after five years — — — — Total marketable securities $ 355,190 $ 353,034 $ 375,474 $ 371,912 The Company has evaluated its investment policies and determined that all of its marketable securities, which are comprised of debt securities, are to be classified as available-for-sale. The Company’s available-for-sale debt securities are carried at fair value, with the unrealized gains and losses reported in Stockholders’ equity under the caption “Accumulated other comprehensive income (loss).” Gross realized gains and losses on available-for-sale securities are included in “Other expense, net” on the Condensed Consolidated Statements of Operations and were not material during the three months ended April 1, 2023 and December 31, 2022. The Company records credit losses for its available-for-sale debt securities when it intends to sell the securities, it is more-likely-than not that it will be required to sell the securities before a recovery, or when it does not expect to recover the entire amortized cost basis of the securities. The cost of securities sold is based on the specific identification method. The Company has determined that the gross unrealized losses on its marketable securities at April 1, 2023 and December 31, 2022 are temporary in nature. The Company regularly reviews its investment portfolio to identify and evaluate marketable securities that have indications of possible impairment from credit losses or other factors. Factors considered in determining whether an unrealized loss is considered to be a credit loss include the length of time and extent to which fair value has been less than the cost basis, credit quality and the Company’s ability and intent to hold the securities for a period of time sufficient to allow for any anticipated recovery in market value. The following table summarizes the estimated fair value and gross unrealized holding losses of marketable securities, aggregated by investment instrument and period of time in an unrealized loss position, at April 1, 2023 and December 31, 2022: In Unrealized Loss Position For In Unrealized Loss Position For Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses April 1, 2023 Municipal notes and bonds $ 87,869 $ 618 $ 68,290 $ 849 Asset-backed securities — — 1,123 16 Certificates of deposit 28,890 85 — — Commercial paper 61,488 106 — — Corporate bonds 13,287 148 27,934 506 Total $ 191,534 $ 957 $ 97,347 $ 1,371 December 31, 2022 Municipal notes and bonds $ 96,301 $ 1,273 $ 69,159 $ 1,082 Asset-backed securities 1,555 21 — — Certificates of deposit 22,400 118 — — Commercial paper 50,550 136 — — Corporate bonds 28,975 637 28,769 366 Total $ 199,781 $ 2,185 $ 97,928 $ 1,448 See Note 2 for additional discussion regarding the fair value of the Company’s marketable securities.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	3 Months Ended
	Apr. 01, 2023
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	NOTE 4. Derivative Instruments and Hedging Activities The Company, when it considers it to be appropriate, enters into forward contracts to hedge the economic exposures arising from foreign currency denominated transactions. At April 1, 2023 and December 31, 2022, these contracts included the future sale of euro, Israeli shekel, Japanese yen, Korean won, Singapore dollar, Taiwanese dollar, and Chinese renminbi to purchase U.S. dollars. Foreign currency forward contracts are not designated as hedges for accounting purposes, and therefore, the change in fair value is recorded in “Other expense, net,” in the Condensed Consolidated Statements of Operations. The Company records its forward contracts at fair value in either prepaid expenses and other current assets or other current liabilities in the Condensed Consolidated Balance Sheets. The dollar equivalent of the U.S. dollar forward contracts and related fair values as of April 1, 2023 and December 31, 2022 were as follows: April 1, 2023 December 31, 2022 Notional amount $ 23,657 $ 27,923 Fair value of liability $ 4 $ 135

Purchased Intangible Assets

Purchased Intangible Assets	3 Months Ended
	Apr. 01, 2023
Goodwill And Intangible Assets Disclosure [Abstract]
Purchased Intangible Assets	NOTE 5. Purchased Intangible Assets Intangible Assets Purchased intangible assets as of April 1, 2023 and December 31, 2022 are as follows: Gross Carrying Amount Accumulated Amortization Net April 1, 2023 Finite-lived intangibles: Developed technology $ 378,197 $ 217,741 $ 160,456 Customer and distributor relationships 73,321 31,342 41,979 Trademarks and trade names 14,171 8,233 5,938 Total identifiable intangible assets $ 465,689 $ 257,316 $ 208,373 December 31, 2022 Finite-lived intangibles: Developed technology $ 378,197 $ 205,386 $ 172,811 Customer and distributor relationships 73,321 30,195 43,126 Trademarks and trade names 14,171 7,911 6,260 Total identifiable intangible assets $ 465,689 $ 243,492 $ 222,197 Assuming no change in the gross carrying value of identifiable intangible assets and estimated lives, future estimated amortization expenses are: Expected Amortization Fiscal Year: Expense 2023 (remainder) $ 40,999 2024 49,137 2025 32,587 2026 31,394 2027 23,173 2028 12,288 Thereafter 18,795 Total $ 208,373

Balance Sheet Details

Balance Sheet Details	3 Months Ended
	Apr. 01, 2023
Balance Sheet Detail [Abstract]
Balance Sheet Details	NOTE 6. Balance Sheet Components Inventories Inventories, net are comprised of the following: April 1, 2023 December 31, 2022 Materials $ 234,725 $ 231,029 Work-in-process 80,999 69,072 Finished goods 22,634 24,181 Total inventories, net $ 338,358 $ 324,282 Property, Plant and Equipment Property, plant and equipment, net is comprised of the following: April 1, 2023 December 31, 2022 Machinery and equipment $ 62,765 $ 56,924 Land and building 50,357 50,344 Computer equipment and software 15,795 15,415 Leasehold improvements 20,672 18,539 Furniture and fixtures 3,163 2,949 152,752 144,171 Accumulated depreciation ( 55,128 ) ( 52,191 ) Total property, plant and equipment, net $ 97,624 $ 91,980 Other assets Other assets are comprised of the following: April 1, 2023 December 31, 2022 Operating lease right-of-use assets $ 19,698 $ 20,746 Other 1,455 4,479 Total other assets $ 21,153 $ 25,225 Accrued liabilities Accrued liabilities are comprised of the following: April 1, 2023 December 31, 2022 Payroll and related expenses $ 26,590 $ 36,529 Warranty 9,799 10,890 Other 1,415 1,417 Total accrued liabilities $ 37,804 $ 48,836 Other current liabilities Other current liabilities are comprised of the following: April 1, 2023 December 31, 2022 Customer deposits $ 8,478 $ 12,482 Current operating lease obligations 5,811 5,678 Income tax payable 7,089 1,910 Accrued professional fees 881 968 Other 6,953 5,995 Total other current liabilities $ 29,212 $ 27,033 Other non-current liabilities Other non-current liabilities are comprised of the following: April 1, 2023 December 31, 2022 Non-current operating lease obligations $ 14,981 $ 16,345 Unrecognized tax benefits (including interest) 8,260 7,693 Deferred revenue 2,681 2,852 Other 2,138 3,623 Total other non-current liabilities $ 28,060 $ 30,513

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Apr. 01, 2023
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 7. Commitments and Contingencies Factoring The Company maintains arrangements under which eligible accounts receivable in Japan are sold without recourse to unrelated third-party financial institutions. The Company sold $ 4,297 of receivables during the three months ended April 1, 2023. These receivables were not included in the Condensed Consolidated Balance Sheets as the criteria for sale treatment had been met. There were no material gains or losses on the sale of such receivables. There were no amounts due from such third-party financial institutions at April 1, 2023. Intellectual Property Indemnification Obligations The Company has entered into agreements with customers that include limited intellectual property indemnification obligations that are customary in the industry. These guarantees generally require the Company to compensate the other party for certain damages and costs incurred as a result of third-party intellectual property claims arising from these transactions. The nature of the intellectual property indemnification obligations prevents the Company from making a reasonable estimate of the maximum potential amount it could be required to pay to its customers. Historically, the Company has not made any indemnification payments under such agreements and no amount has been accrued in the accompanying Condensed Consolidated Financial Statements with respect to these indemnification guarantees. Warranty Reserves The Company generally provides a warranty on its products for a period of 12 to 14 months against defects in material and workmanship. The Company estimates the costs that may be incurred during the warranty period and records a liability in the amount of such costs at the time revenue is recognized. The Company’s estimate is based primarily on historical experience. The Company periodically assesses the adequacy of its recorded warranty liabilities and adjusts the amounts as necessary. Warranty provisions are generally related to current period sales. Settlements of warranty reserves are generally associated with sales that occurred during the 12 to 14 months prior to the period-end. Changes in the Company’s warranty reserves are as follows: Three Months Ended April 1, April 2, 2023 2022 Balance, beginning of the period $ 11,830 $ 9,682 Accruals 2,551 3,619 Usage ( 3,879 ) ( 2,726 ) Balance, end of the period $ 10,502 $ 10,575 Warranty reserves are reported in the Condensed Consolidated Balance Sheets under the captions “Accrued liabilities” and “Other non-current liabilities.” Legal Matters From time to time, the Company is subject to legal proceedings and claims in the ordinary course of business. The following reflects an overview of the material developments with regard to the Company’s pending material legal proceedings. Optical Solutions Inc. v. Nanometrics Incorporated (Case No. 18-cv-00417-BLF): On August 2, 2017, Nanometrics was named as defendant in a complaint filed by Optical Solutions, Inc. (“OSI”) in New Hampshire Superior Court (the “OSI Action”). OSI’s complaint alleged claims arising from a purchase contract between OSI and Nanometrics. The relief sought was the award of damages in an amount to be proven at trial, attorney’s fees and costs, and such other relief that the court deemed just and proper. The OSI Action was subsequently removed to the United States District Court for the District of New Hampshire and then transferred to the United States District Court for the Northern District of California (the “Northern District of California”). On December 20, 2017, Nanometrics filed its own complaint against OSI in the California Superior Court for the County of Santa Clara alleging claims arising from OSI’s breach of certain purchase orders (the “Nanometrics Action”). The relief sought was the award of damages in an amount to be proven at trial, including pre- and post-judgment interest, punitive damages, restitution for benefits unjustly received by OSI, attorney’s fees and costs, and such other relief the court deemed just and proper. The Nanometrics Action was later removed to the Northern District of California and then consolidated with the OSI Action. On July 7, 2020, after the Northern District of California granted the Company’s motion to dismiss with prejudice with regard to two of OSI’s claims and dismissed two other claims asserted by OSI with leave to amend, OSI filed a Fourth Amended Complaint. On August 14, 2020, the Company filed a motion to dismiss one of the two remaining claims. On December 1, 2020, the Northern District of California denied the Company’s motion and as a result the Company filed its Answer in this matter on December 22, 2020. Discovery is now closed. On March 1, 2023, the Company filed a motion for summary judgment, and the hearing on that motion is scheduled for June 29, 2023. The trial date is set for December 4, 2023. At the time of filing of this Quarterly Report on Form 10-Q (this “Form 10-Q”), the loss contingency in this matter is remote and the Company does not anticipate the outcome of the matter to have a material impact on its financial position, results of operations, or cash flows. Line of Credit The Company has a credit agreement with a bank that provides for a line of credit which is secured by the marketable securities the Company has with the bank. The Company is permitted to borrow up to 70 % of the value of eligible securities held at the time the line of credit is accessed. The available line of credit as of April 1, 2023 was approximately $ 100.0 million with an available interest rate of 6.5 %. The credit agreement is available to the Company until such time that either party terminates the arrangement at their discretion. The Company has not utilized the line of credit as of the date of this filing.

Revenue

Revenue	3 Months Ended
	Apr. 01, 2023
Revenue From Contract With Customer [Abstract]
Revenue	NOTE 8. Revenue The following table represents a disaggregation of revenue by timing of revenue: Three Months Ended April 1, April 2, 2023 2022 Point-in-time $ 186,374 $ 229,970 Over-time 12,791 11,380 Total revenue $ 199,165 $ 241,350 See Note 14 for additional discussion of the Company’s disaggregated revenue in detail. Contract Liabilities The Company records contract liabilities when the customer has been billed in advance of the Company completing its performance obligations primarily with respect to liabilities related to service contracts and installation. For contracts that have a duration of one year or less, these amounts are recorded as current deferred revenue in the Condensed Consolidated Balance Sheets. As of April 1, 2023 and December 31, 2022, the Company carried a long-term deferred revenue balance of $ 2,681 and $ 2,852 , respectively, in “Other non-current liabilities” on the Condensed Consolidated Balance Sheets. Changes in deferred revenue were as follows: Three Months Ended April 1, April 2, 2023 2022 Balance, beginning of the period $ 33,014 $ 31,672 Deferral of revenue 16,077 23,500 Recognition of deferred revenue ( 18,708 ) ( 16,573 ) Balance, end of the period $ 30,383 $ 38,599

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Apr. 01, 2023
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share-Based Compensation	NOTE 9. Share-Based Compensation Restricted Stock Unit Activity A summary of the Company’s restricted stock unit activity with respect to the three months ended April 1, 2023 is as follows: Number of Shares Weighted Average Nonvested at December 31, 2022 743 $ 69.01 Granted 140 $ 82.32 Vested ( 205 ) $ 60.87 Forfeited ( 9 ) $ 68.97 Nonvested at April 1, 2023 669 $ 74.28 Of the 669 nonvested shares outstanding at April 1, 2023, 566 are service-based RSUs and 103 are market-based PRSUs. The fair value of the Company’s service-based RSUs was calculated based on the fair market value of the Company’s stock at the date of grant. The fair value of the Company’s market-based PRSUs granted during fiscal years 2023 and 2022 was calculated using a Monte Carlo simulation model at the date of the grant, resulting in a weighted average grant-date fair value per share of $ 100.79 and $ 85.49 , respectively. As of April 1, 2023 and December 31 2022, there was $ 31,644 and $ 28,653 of total unrecognized compensation cost related to restricted stock units granted under the Company’s stock plans, respectively. That cost is expected to be recognized over a weighted average period of 1.6 years and 1.5 years for April 1, 2023 and December 31, 2022, respectively.

Other Expense, Net

Other Expense, Net	3 Months Ended
	Apr. 01, 2023
Other Income Expense [Abstract]
Other Expense, Net	NOTE 10. Other Expense, Net Other expense, net, is comprised of the following: Three Months Ended April 1, April 2, 2023 2022 Foreign currency exchange losses, net $ ( 307 ) $ ( 214 ) Other 26 10 Total other expense, net $ ( 281 ) $ ( 204 )

Income Taxes

Income Taxes	3 Months Ended
	Apr. 01, 2023
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 11. Income Taxes The following table provides details of income taxes: Three Months Ended April 1, April 2, 2023 2022 Income before income taxes $ 32,202 $ 58,917 Provision for income taxes $ 3,134 $ 5,587 Effective tax rate 10 % 9 % The income tax provision for the three months ended April 1, 2023 was computed based on the Company’s annual forecast of profit by jurisdiction and forecasted effective tax rate for the year. The income tax provision for the three months ended April 1, 2023 and April 2, 2022 reflected the impact of a change in U.S. tax law effective January 1, 2022, which requires the capitalization and amortization of research and development expenditures incurred after December 31, 2021. The decrease in the Company’s income tax provision for the three months ended April 1, 2023 as compared to the three months ended April 2, 2022 was primarily due to a decrease in quarterly earnings and an increase in the federal research and development tax credit, offset by a decrease in the Foreign Derived Intangible Income (“FDII”) deduction. The Company’s recorded effective tax rate for the periods presented is less than the U.S. statutory rate primarily due to projected FDII deductions, federal research and development tax credits, and excess tax benefits associated with equity compensation. The Company currently has a partial valuation allowance recorded against certain foreign and state net operating loss and credit carryforwards where the realizability of such deferred tax assets is substantially in doubt. Each quarter, the Company assesses the likelihood that it will be able to recover its deferred tax assets. The Company considers available evidence, both positive and negative, including forecasted earnings, in assessing its need for a valuation allowance. As a result of the Company’s analysis, it concluded that it is more likely than not that a portion of its deferred tax assets will not be realized. Therefore, the Company continues to provide a valuation allowance against certain deferred tax assets. The Company continues to monitor available evidence and may reverse some or all of its remaining valuation allowance in future periods, if appropriate. The Company has a recorded valuation allowance against a certain portion of its deferred tax assets of $ 11,473 and $ 11,772 for the quarter ending April 1, 2023 and December 31, 2022, respectively.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Apr. 01, 2023
Earnings Per Share [Abstract]
Earnings Per Share	NOTE 12. Earnings Per Share Basic earnings per share is calculated using the weighted average number of shares of common stock outstanding during the period. Restricted stock units, employee stock purchase grants and stock options are included in the calculation of diluted earnings per share, except when their effect would be anti-dilutive. The Company’s basic and diluted earnings per share amounts are as follows: Three Months Ended April 1, April 2, 2023 2022 Numerator: Net income $ 29,068 $ 53,330 Denominator: Basic earnings per share - weighted average shares 48,788 49,437 Effect of potential dilutive securities: Employee stock options, employee stock 321 478 Diluted earnings per share - weighted average shares 49,109 49,915 Earnings per share: Basic $ 0.60 $ 1.08 Diluted $ 0.59 $ 1.07

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Apr. 01, 2023
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss)	NOTE 13. Accumulated Other Comprehensive Loss The components of accumulated other comprehensive loss, net of tax, at April 1, 2023, as well as the activity for the three months ended April 1, 2023, were as follows: Foreign currency Net unrealized losses on Accumulated other Balance at December 31, 2022 $ ( 7,115 ) $ ( 2,895 ) $ ( 10,010 ) Net current period other comprehensive income 1,090 1,392 2,482 Reclassifications — — — Balance at April 1, 2023 $ ( 6,025 ) $ ( 1,503 ) $ ( 7,528 )

Segment Reporting and Geographi

Segment Reporting and Geographic Information	3 Months Ended
	Apr. 01, 2023
Segment Reporting [Abstract]
Segment Reporting and Geographic Information	NOTE 14. Segment Reporting and Geographic Information The Company is engaged in the design, development, manufacture and support of high-performance control metrology, defect inspection, lithography and data analysis systems used by microelectronics device manufacturers. The Company and its subsidiaries currently operate in a single operating segment: the design, development, manufacture and support of high-performance process control defect inspection and metrology, lithography and process control software systems used by microelectronics device manufacturers. Therefore, the Company has one reportable segment. The Company’s chief operating decision maker is the Chief Executive Officer (the “CEO”). The CEO allocates resources and assesses performance of the business and other activities at the reportable segment level. The following table lists the different sources of revenue: Three Months Ended April 1, April 2, 2023 2022 Systems and software $ 166,824 84 % $ 209,383 87 % Parts 20,423 10 % 19,857 8 % Services 11,918 6 % 12,110 5 % Total revenue $ 199,165 100 % $ 241,350 100 % The Company’s significant operations outside the United States include sales, service and application offices in Asia and Europe. For geographical revenue reporting, revenue is attributed to the geographic location to which the product is shipped. Revenue by geographic region is as follows: Three Months Ended April 1, April 2, 2023 2022 Revenue from third parties: South Korea $ 45,473 $ 61,135 United States 40,713 26,801 China 36,551 63,394 Taiwan 26,705 53,392 Europe 17,918 18,428 Southeast Asia 17,301 9,225 Japan 14,504 8,975 Total revenue $ 199,165 $ 241,350 The following customers accounted for 10% or more of total revenue for the indicated periods: Three Months Ended April 1, April 2, 2023 2022 Samsung Semiconductor 20 % 10 % Taiwan Semiconductor Manufacturing Co. Ltd. 14 % 16 % SK Hynix Inc. 2 % 19 %

Share Repurchase Authorization

Share Repurchase Authorization	3 Months Ended
	Apr. 01, 2023
Share Repurchase Program [Abstract]
Share Repurchase Authorization	NOTE 15. Share Repurchase Authorization In November 2020, the Onto Innovation Board of Directors approved a share repurchase authorization, which allows the Company to repurchase up to $ 100,000 worth of shares of its common stock. Repurchases may be made through both public market and private transactions from time to time with shares purchased being subsequently retired. During the three month period ended April 1, 2023, the Company purchased and retired 46 shares of its common stock. The amount paid to repurchase the shares in excess of par value, including transaction costs, is recorded directly as a decrease to additional paid-in capital and retained earnings. At April 1, 2023, there was $ 31,577 available for future share repurchases under this share repurchase authorization.

Disclosure - Restructuring (Pol

Disclosure - Restructuring (Policies)	3 Months Ended
	Apr. 01, 2023
Restructuring Charges [Abstract]
Restructuring and Related Activities Disclosure [Text Block]	NOTE 16. Restructuring The Company initiated a restructuring plan to streamline operations and align the Company's cost structure with its business outlook for 2023. During the three months ended April 1, 2023, restructuring cost of $ 2,034 were recorded in operating expense for employee severance and $ 2,279 was recorded in cost of goods sold for inventory write-downs. All employee severance costs were paid during the quarter. The Company anticipates that these activities will continue into subsequent quarters of 2023 and anticipates recording additional restructuring charges.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Apr. 01, 2023
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Significant estimates made by management include excess and obsolete inventory, fair value of assets acquired and liabilities assumed in a business combination, recoverability and useful lives of property, plant and equipment and identifiable intangible assets, recoverability of goodwill, recoverability of deferred tax assets, allowance for credit losses, liabilities for product warranty, contingencies, including litigation reserves and share-based payments and liabilities for tax uncertainties. Actual results could differ from those estimates. These estimates and assumptions are based on historical experience and on various other factors which the Company believes to be reasonable under the circumstances. The Company may engage third-party valuation specialists to assist with estimates related to the valuation of financial instruments, assets and stock awards associated with various contractual arrangements. Such estimates often require the selection of appropriate valuation methodologies and significant judgment. Actual results could differ from these estimates under different assumptions or circumstances and such differences could be material.
Adoption of Accounting Standards	Adoption of Accounting Standards There have been no recent accounting pronouncements or changes in accounting pronouncements during the three months ended April 1, 2023, as compared to the recent accounting pronouncements described in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, that are of significance, or potential significance to the Company.

Fair Value Measurements - (Tabl

Fair Value Measurements - (Tables)	3 Months Ended
	Apr. 01, 2023
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Carried at Fair Value Measured on a Recurring Basis	The following tables provide the assets and liabilities carried at fair value measured on a recurring basis at April 1, 2023 and December 31, 2022: Fair Value Measurements Using Carrying Quoted Prices in Significant Other Significant April 1, 2023 Assets: Available-for-sale debt securities: Municipal notes and bonds $ 169,433 $ — $ 169,433 $ — Asset-backed securities 1,107 — 1,107 — Certificates of deposit 55,060 — 55,060 — Commercial paper 71,785 — 71,785 — Corporate bonds 55,649 — 55,649 — Total assets $ 353,034 $ — $ 353,034 $ — Liabilities: Foreign currency forward contracts 4 — 4 — Total liabilities $ 4 $ — $ 4 $ — December 31, 2022 Assets: Available-for-sale debt securities: Municipal notes and bonds $ 178,868 $ — $ 178,868 $ — Asset-backed securities 1,534 — 1,534 — Certificates of deposit 52,095 — 52,095 — Commercial paper 80,079 — 80,079 — Corporate bonds 59,335 — 59,335 — Total assets $ 371,912 $ — $ 371,912 $ — Liabilities: Foreign currency forward contracts $ 135 $ — $ 135 $ — Total liabilities $ 135 $ — $ 135 $ —

Marketable Securities - (Tables

Marketable Securities - (Tables)	3 Months Ended
	Apr. 01, 2023
Marketable Securities [Abstract]
Schedule of Marketable Securities by Category	At April 1, 2023 and December 31, 2022, marketable securities are categorized as follows: Amortized Cost Gross Unrealized Holding Gains Gross Unrealized Holding Losses Fair Value April 1, 2023 Municipal notes and bonds $ 170,829 $ 71 $ 1,467 $ 169,433 Asset-backed securities 1,123 — 16 1,107 Certificates of deposit 55,129 16 85 55,060 Commercial paper 71,884 6 106 71,784 Corporate bonds 56,225 79 654 55,650 Total marketable securities $ 355,190 $ 172 $ 2,328 $ 353,034 December 31, 2022 Municipal notes and bonds $ 181,196 $ 27 $ 2,355 $ 178,868 Asset-backed securities 1,555 — 21 1,534 Certificates of deposit 52,190 24 118 52,095 Commercial paper 80,199 16 136 80,079 Corporate bonds 60,334 4 1,003 59,335 Total marketable securities $ 375,474 $ 71 $ 3,633 $ 371,912
Schedule of Amortized Cost and Estimated Fair Value of Marketable Securities Classified by Maturity Date	The amortized cost and estimated fair value of marketable securities classified by the maturity date listed on the security, regardless of the Condensed Consolidated Balance Sheets classification, is as follows at April 1, 2023 and December 31, 2022: April 1, 2023 December 31, 2022 Amortized Cost Fair Value Amortized Cost Fair Value Due within one year $ 278,295 $ 276,557 $ 311,934 $ 309,385 Due after one through five years 76,895 76,477 63,540 62,527 Due after five years — — — — Total marketable securities $ 355,190 $ 353,034 $ 375,474 $ 371,912
Summary of Estimated Fair Value and Gross Unrealized Holding Losses of Marketable Securities in Unrealized Loss Position	The following table summarizes the estimated fair value and gross unrealized holding losses of marketable securities, aggregated by investment instrument and period of time in an unrealized loss position, at April 1, 2023 and December 31, 2022: In Unrealized Loss Position For In Unrealized Loss Position For Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses April 1, 2023 Municipal notes and bonds $ 87,869 $ 618 $ 68,290 $ 849 Asset-backed securities — — 1,123 16 Certificates of deposit 28,890 85 — — Commercial paper 61,488 106 — — Corporate bonds 13,287 148 27,934 506 Total $ 191,534 $ 957 $ 97,347 $ 1,371 December 31, 2022 Municipal notes and bonds $ 96,301 $ 1,273 $ 69,159 $ 1,082 Asset-backed securities 1,555 21 — — Certificates of deposit 22,400 118 — — Commercial paper 50,550 136 — — Corporate bonds 28,975 637 28,769 366 Total $ 199,781 $ 2,185 $ 97,928 $ 1,448

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	3 Months Ended
	Apr. 01, 2023
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Forward Contracts and Related Fair Values	The dollar equivalent of the U.S. dollar forward contracts and related fair values as of April 1, 2023 and December 31, 2022 were as follows: April 1, 2023 December 31, 2022 Notional amount $ 23,657 $ 27,923 Fair value of liability $ 4 $ 135

Purchased Intangible Assets (Ta

Purchased Intangible Assets (Tables)	3 Months Ended
	Apr. 01, 2023
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Purchased Intangible Assets	Intangible Assets Purchased intangible assets as of April 1, 2023 and December 31, 2022 are as follows: Gross Carrying Amount Accumulated Amortization Net April 1, 2023 Finite-lived intangibles: Developed technology $ 378,197 $ 217,741 $ 160,456 Customer and distributor relationships 73,321 31,342 41,979 Trademarks and trade names 14,171 8,233 5,938 Total identifiable intangible assets $ 465,689 $ 257,316 $ 208,373 December 31, 2022 Finite-lived intangibles: Developed technology $ 378,197 $ 205,386 $ 172,811 Customer and distributor relationships 73,321 30,195 43,126 Trademarks and trade names 14,171 7,911 6,260 Total identifiable intangible assets $ 465,689 $ 243,492 $ 222,197
Schedule of Estimated Future Amortization Expenses	Assuming no change in the gross carrying value of identifiable intangible assets and estimated lives, future estimated amortization expenses are: Expected Amortization Fiscal Year: Expense 2023 (remainder) $ 40,999 2024 49,137 2025 32,587 2026 31,394 2027 23,173 2028 12,288 Thereafter 18,795 Total $ 208,373

Balance Sheet Details (Tables)

Balance Sheet Details (Tables)	3 Months Ended
	Apr. 01, 2023
Balance Sheet Detail [Abstract]
Schedule of Inventories	Inventories, net are comprised of the following: April 1, 2023 December 31, 2022 Materials $ 234,725 $ 231,029 Work-in-process 80,999 69,072 Finished goods 22,634 24,181 Total inventories, net $ 338,358 $ 324,282
Schedule of Property, Plant and Equipment, Net	Property, plant and equipment, net is comprised of the following: April 1, 2023 December 31, 2022 Machinery and equipment $ 62,765 $ 56,924 Land and building 50,357 50,344 Computer equipment and software 15,795 15,415 Leasehold improvements 20,672 18,539 Furniture and fixtures 3,163 2,949 152,752 144,171 Accumulated depreciation ( 55,128 ) ( 52,191 ) Total property, plant and equipment, net $ 97,624 $ 91,980
Schedule of Other Assets	Other assets are comprised of the following: April 1, 2023 December 31, 2022 Operating lease right-of-use assets $ 19,698 $ 20,746 Other 1,455 4,479 Total other assets $ 21,153 $ 25,225
Schedule of Accrued Liabilities	Accrued liabilities are comprised of the following: April 1, 2023 December 31, 2022 Payroll and related expenses $ 26,590 $ 36,529 Warranty 9,799 10,890 Other 1,415 1,417 Total accrued liabilities $ 37,804 $ 48,836
Schedule of Other Current Liabilities	Other current liabilities are comprised of the following: April 1, 2023 December 31, 2022 Customer deposits $ 8,478 $ 12,482 Current operating lease obligations 5,811 5,678 Income tax payable 7,089 1,910 Accrued professional fees 881 968 Other 6,953 5,995 Total other current liabilities $ 29,212 $ 27,033
Schedule of Other Non-Current Liabilities	Other non-current liabilities are comprised of the following: April 1, 2023 December 31, 2022 Non-current operating lease obligations $ 14,981 $ 16,345 Unrecognized tax benefits (including interest) 8,260 7,693 Deferred revenue 2,681 2,852 Other 2,138 3,623 Total other non-current liabilities $ 28,060 $ 30,513

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Apr. 01, 2023
Commitments And Contingencies Disclosure [Abstract]
Schedule of Changes in Warranty Reserves	Changes in the Company’s warranty reserves are as follows: Three Months Ended April 1, April 2, 2023 2022 Balance, beginning of the period $ 11,830 $ 9,682 Accruals 2,551 3,619 Usage ( 3,879 ) ( 2,726 ) Balance, end of the period $ 10,502 $ 10,575

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Apr. 01, 2023
Revenue From Contract With Customer [Abstract]
Schedule of Disaggregation of Revenue	The following table represents a disaggregation of revenue by timing of revenue: Three Months Ended April 1, April 2, 2023 2022 Point-in-time $ 186,374 $ 229,970 Over-time 12,791 11,380 Total revenue $ 199,165 $ 241,350
Schedule of Changes in Deferred Revenue	Changes in deferred revenue were as follows: Three Months Ended April 1, April 2, 2023 2022 Balance, beginning of the period $ 33,014 $ 31,672 Deferral of revenue 16,077 23,500 Recognition of deferred revenue ( 18,708 ) ( 16,573 ) Balance, end of the period $ 30,383 $ 38,599

Share-Based Compensation - (Tab

Share-Based Compensation - (Tables)	3 Months Ended
	Apr. 01, 2023
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Restricted Stock Unit Activity	A summary of the Company’s restricted stock unit activity with respect to the three months ended April 1, 2023 is as follows: Number of Shares Weighted Average Nonvested at December 31, 2022 743 $ 69.01 Granted 140 $ 82.32 Vested ( 205 ) $ 60.87 Forfeited ( 9 ) $ 68.97 Nonvested at April 1, 2023 669 $ 74.28

Other Expense, Net (Tables)

Other Expense, Net (Tables)	3 Months Ended
	Apr. 01, 2023
Other Income Expense [Abstract]
Schedule of Other Expense, Net	Other expense, net, is comprised of the following: Three Months Ended April 1, April 2, 2023 2022 Foreign currency exchange losses, net $ ( 307 ) $ ( 214 ) Other 26 10 Total other expense, net $ ( 281 ) $ ( 204 )

Income Taxes - (Tables)

Income Taxes - (Tables)	3 Months Ended
	Apr. 01, 2023
Income Tax Disclosure [Abstract]
Details of Income Tax	The following table provides details of income taxes: Three Months Ended April 1, April 2, 2023 2022 Income before income taxes $ 32,202 $ 58,917 Provision for income taxes $ 3,134 $ 5,587 Effective tax rate 10 % 9 %

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Apr. 01, 2023
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Earnings Per Share	The Company’s basic and diluted earnings per share amounts are as follows: Three Months Ended April 1, April 2, 2023 2022 Numerator: Net income $ 29,068 $ 53,330 Denominator: Basic earnings per share - weighted average shares 48,788 49,437 Effect of potential dilutive securities: Employee stock options, employee stock 321 478 Diluted earnings per share - weighted average shares 49,109 49,915 Earnings per share: Basic $ 0.60 $ 1.08 Diluted $ 0.59 $ 1.07

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Apr. 01, 2023
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]
Components of Accumulated Other Comprehensive Loss, Net of Tax	The components of accumulated other comprehensive loss, net of tax, at April 1, 2023, as well as the activity for the three months ended April 1, 2023, were as follows: Foreign currency Net unrealized losses on Accumulated other Balance at December 31, 2022 $ ( 7,115 ) $ ( 2,895 ) $ ( 10,010 ) Net current period other comprehensive income 1,090 1,392 2,482 Reclassifications — — — Balance at April 1, 2023 $ ( 6,025 ) $ ( 1,503 ) $ ( 7,528 )

Segment Reporting and Geograp_2

Segment Reporting and Geographic Information - (Tables)	3 Months Ended
	Apr. 01, 2023
Segment Reporting [Abstract]
Schedule of Revenue from External Customers by Products and Services	The following table lists the different sources of revenue: Three Months Ended April 1, April 2, 2023 2022 Systems and software $ 166,824 84 % $ 209,383 87 % Parts 20,423 10 % 19,857 8 % Services 11,918 6 % 12,110 5 % Total revenue $ 199,165 100 % $ 241,350 100 %
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area	For geographical revenue reporting, revenue is attributed to the geographic location to which the product is shipped. Revenue by geographic region is as follows:
Schedule of Revenue by Major Customer by Reporting Segments	The following customers accounted for 10% or more of total revenue for the indicated periods: Three Months Ended April 1, April 2, 2023 2022 Samsung Semiconductor 20 % 10 % Taiwan Semiconductor Manufacturing Co. Ltd. 14 % 16 % SK Hynix Inc. 2 % 19 %

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Carried at Fair Value Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	Apr. 01, 2023	Dec. 31, 2022
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale debt securities	$ 353,034	$ 371,912
Carrying Value [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets	353,034	371,912
Foreign currency forward contracts	4	135
Total liabilities	4	135
Carrying Value [Member] | Fair Value, Measurements, Recurring [Member] | Municipal notes and bonds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale debt securities	169,433	178,868
Carrying Value [Member] | Fair Value, Measurements, Recurring [Member] | Asset-backed securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale debt securities	1,107	1,534
Carrying Value [Member] | Fair Value, Measurements, Recurring [Member] | Certificates of deposits [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale debt securities	55,060	52,095
Carrying Value [Member] | Fair Value, Measurements, Recurring [Member] | Commercial paper [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale debt securities	71,785	80,079
Carrying Value [Member] | Fair Value, Measurements, Recurring [Member] | Corporate bonds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale debt securities	55,649	59,335
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets	0	0
Foreign currency forward contracts	0	0
Total liabilities	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value, Measurements, Recurring [Member] | Municipal notes and bonds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale debt securities	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value, Measurements, Recurring [Member] | Asset-backed securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale debt securities	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value, Measurements, Recurring [Member] | Certificates of deposits [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale debt securities	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value, Measurements, Recurring [Member] | Commercial paper [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale debt securities	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value, Measurements, Recurring [Member] | Corporate bonds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale debt securities	0	0
Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets	353,034	371,912
Foreign currency forward contracts	4	135
Total liabilities	4	135
Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Recurring [Member] | Municipal notes and bonds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale debt securities	169,433	178,868
Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Recurring [Member] | Asset-backed securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale debt securities	1,107	1,534
Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Recurring [Member] | Certificates of deposits [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale debt securities	55,060	52,095
Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Recurring [Member] | Commercial paper [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale debt securities	71,785	80,079
Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Recurring [Member] | Corporate bonds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale debt securities	55,649	59,335
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets	0	0
Foreign currency forward contracts	0	0
Total liabilities	0	0
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Recurring [Member] | Municipal notes and bonds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale debt securities	0	0
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Recurring [Member] | Asset-backed securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale debt securities	0	0
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Recurring [Member] | Certificates of deposits [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale debt securities	0	0
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Recurring [Member] | Commercial paper [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale debt securities	0	0
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Recurring [Member] | Corporate bonds [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale debt securities	$ 0	$ 0

Marketable Securities - Schedul

Marketable Securities - Schedule of Marketable Securities by Category (Details) - USD ($) $ in Thousands	Apr. 01, 2023	Dec. 31, 2022
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 355,190	$ 375,474
Gross Unrealized Holding Gains	172	71
Gross Unrealized Holding Losses	2,328	3,633
Fair Value	353,034	371,912
Municipal notes and bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	170,829	181,196
Gross Unrealized Holding Gains	71	27
Gross Unrealized Holding Losses	1,467	2,355
Fair Value	169,433	178,868
Asset-backed securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,123	1,555
Gross Unrealized Holding Gains	0	0
Gross Unrealized Holding Losses	16	21
Fair Value	1,107	1,534
Certificates of deposits [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	55,129	52,190
Gross Unrealized Holding Gains	16	24
Gross Unrealized Holding Losses	85	118
Fair Value	55,060	52,095
Commercial paper [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	71,884	80,199
Gross Unrealized Holding Gains	6	16
Gross Unrealized Holding Losses	106	136
Fair Value	71,784	80,079
Corporate bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	56,225	60,334
Gross Unrealized Holding Gains	79	4
Gross Unrealized Holding Losses	654	1,003
Fair Value	$ 55,650	$ 59,335

Marketable Securities - Sched_2

Marketable Securities - Schedule of Amortized Cost and Estimated Fair Value of Marketable Securities Classified by Maturity Date (Details) - USD ($) $ in Thousands	Apr. 01, 2023	Dec. 31, 2022
Available For Sale Securities Debt Maturities Fair Value [Abstract]
Amortized Cost, Due within one year	$ 278,295	$ 311,934
Amortized Cost, Due after one through five years	76,895	63,540
Amortized Cost, Due after five years	0	0
Amortized Cost	355,190	375,474
Fair Value, Due within one year	276,557	309,385
Fair Value, Due after one through five years	76,477	62,527
Fair Value, Due after five years	0	0
Fair Value, Total marketable securities	$ 353,034	$ 371,912

Marketable Securities - Summary

Marketable Securities - Summary of Estimated Fair Value and Gross Unrealized Holding Losses of Marketable Securities in Unrealized Loss Position (Details) - USD ($) $ in Thousands	Apr. 01, 2023	Dec. 31, 2022
Schedule of Available-for-sale Securities [Line Items]
In Unrealized Loss Position For Less Than 12 Months, Fair Value	$ 191,534	$ 199,781
In Unrealized Loss Position For Less Than 12 Months, Gross Unrealized Losses	957	2,185
In Unrealized Loss Position For Greater Than 12 Months, Fair Value	97,347	97,928
In Unrealized Loss Position For Greater Than 12 Months, Gross Unrealized Losses	1,371	1,448
Municipal notes and bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
In Unrealized Loss Position For Less Than 12 Months, Fair Value	87,869	96,301
In Unrealized Loss Position For Less Than 12 Months, Gross Unrealized Losses	618	1,273
In Unrealized Loss Position For Greater Than 12 Months, Fair Value	68,290	69,159
In Unrealized Loss Position For Greater Than 12 Months, Gross Unrealized Losses	849	1,082
Asset-backed securities [Member]
Schedule of Available-for-sale Securities [Line Items]
In Unrealized Loss Position For Less Than 12 Months, Fair Value		1,555
In Unrealized Loss Position For Less Than 12 Months, Gross Unrealized Losses		21
In Unrealized Loss Position For Greater Than 12 Months, Fair Value	1,123	0
In Unrealized Loss Position For Greater Than 12 Months, Gross Unrealized Losses	16	0
Certificates of deposits [Member]
Schedule of Available-for-sale Securities [Line Items]
In Unrealized Loss Position For Less Than 12 Months, Fair Value	28,890	22,400
In Unrealized Loss Position For Less Than 12 Months, Gross Unrealized Losses	85	118
In Unrealized Loss Position For Greater Than 12 Months, Fair Value		0
In Unrealized Loss Position For Greater Than 12 Months, Gross Unrealized Losses		0
Commercial paper [Member]
Schedule of Available-for-sale Securities [Line Items]
In Unrealized Loss Position For Less Than 12 Months, Fair Value	61,488	50,550
In Unrealized Loss Position For Less Than 12 Months, Gross Unrealized Losses	106	136
In Unrealized Loss Position For Greater Than 12 Months, Fair Value		0
In Unrealized Loss Position For Greater Than 12 Months, Gross Unrealized Losses		0
Corporate bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
In Unrealized Loss Position For Less Than 12 Months, Fair Value	13,287	28,975
In Unrealized Loss Position For Less Than 12 Months, Gross Unrealized Losses	148	637
In Unrealized Loss Position For Greater Than 12 Months, Fair Value	27,934	28,769
In Unrealized Loss Position For Greater Than 12 Months, Gross Unrealized Losses	$ 506	$ 366

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities - Forward Contracts and Related Fair Values (Details) - USD ($) $ in Thousands	Apr. 01, 2023	Dec. 31, 2022
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Notional amount	$ 23,657	$ 27,923
Fair value of assets (liability)	$ (4)	$ 135

Purchased Intangible Assets - S

Purchased Intangible Assets - Schedule of Purchased Intangible Assets (Details) - USD ($) $ in Thousands	Apr. 01, 2023	Dec. 31, 2022
Finite Lived Intangible Assets [Line Items]
Finite-lived intangibles assets, Net	$ 208,373
Identifiable intangibles assets, Gross Carrying Amount	465,689	$ 465,689
Identifiable intangibles assets, Accumulated Amortization	257,316	243,492
Identifiable intangibles assets, Net	208,373	222,197
Developed technology [Member]
Finite Lived Intangible Assets [Line Items]
Finite-lived intangibles assets, Gross Carrying Amount	378,197	378,197
Finite-lived intangibles assets, Accumulated Amortization	217,741	205,386
Finite-lived intangibles assets, Net	160,456	172,811
Customer and distributor relationships [Member]
Finite Lived Intangible Assets [Line Items]
Finite-lived intangibles assets, Gross Carrying Amount	73,321	73,321
Finite-lived intangibles assets, Accumulated Amortization	31,342	30,195
Finite-lived intangibles assets, Net	41,979	43,126
Trademarks and trade names [Member]
Finite Lived Intangible Assets [Line Items]
Finite-lived intangibles assets, Gross Carrying Amount	14,171	14,171
Finite-lived intangibles assets, Accumulated Amortization	8,233	7,911
Finite-lived intangibles assets, Net	$ 5,938	$ 6,260

Purchased Intangible Assets -_2

Purchased Intangible Assets - Schedule of Estimated Future Amortization Expenses (Details) $ in Thousands	Apr. 01, 2023 USD ($)
Finite Lived Intangible Assets Future Amortization Expense [Abstract]
2023 (remainder)	$ 40,999
2024	49,137
2025	32,587
2026	31,394
2027	23,173
2028	12,288
Thereafter	18,795
Finite-lived intangibles assets, Net	$ 208,373

Balance Sheet Details - Schedul

Balance Sheet Details - Schedule of Inventories (Details) - USD ($) $ in Thousands	Apr. 01, 2023	Dec. 31, 2022
Inventory Details [Abstract]
Materials	$ 234,725	$ 231,029
Work-in-process	80,999	69,072
Finished goods	22,634	24,181
Total inventories, net	$ 338,358	$ 324,282

Balance Sheet Details - Sched_2

Balance Sheet Details - Schedule of Property, Plant and Equipment, Net (Details) - USD ($) $ in Thousands	Apr. 01, 2023	Dec. 31, 2022
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 152,752	$ 144,171
Accumulated depreciation and amortization	(55,128)	(52,191)
Total property, plant and equipment, net	97,624	91,980
Land and building [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	50,357	50,344
Machinery and equipment [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	62,765	56,924
Furniture and fixtures [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	3,163	2,949
Computer equipment and software [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	15,795	15,415
Leasehold improvements [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 20,672	$ 18,539

Balance Sheet Details - Sched_3

Balance Sheet Details - Schedule of Other Assets (Details) - USD ($) $ in Thousands	Apr. 01, 2023	Dec. 31, 2022
Other Assets [Abstract]
Operating lease right-of-use assets	$ 19,698	$ 20,746
Other	1,455	4,479
Total other assets	$ 21,153	$ 25,225

Balance Sheet Details - Sched_4

Balance Sheet Details - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands	Apr. 01, 2023	Dec. 31, 2022
Accrued Liabilities Current [Abstract]
Payroll and related expenses	$ 26,590	$ 36,529
Warranty	9,799	10,890
Other	1,415	1,417
Total accrued liabilities	$ 37,804	$ 48,836

Balance Sheet Details - Sched_5

Balance Sheet Details - Schedule of Other Current Liabilities (Details) - USD ($) $ in Thousands	Apr. 01, 2023	Dec. 31, 2022
Other Liabilities Current [Abstract]
Customer deposits	$ 8,478	$ 12,482
Current operating lease obligations	5,811	5,678
Income tax payable	7,089	1,910
Accrued professional fees	881	968
Other	6,953	5,995
Total other current liabilities	$ 29,212	$ 27,033

Balance Sheet Details - Sched_6

Balance Sheet Details - Schedule of Other Non-Current Liabilities (Details) - USD ($) $ in Thousands	Apr. 01, 2023	Dec. 31, 2022
Other Liabilities Noncurrent [Abstract]
Non-current operating lease obligations	$ 14,981	$ 16,345
Unrecognized tax benefits (including interest)	$ 8,260	$ 7,693
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Total other non-current liabilities	Total other non-current liabilities
Deferred revenue	$ 2,681	$ 2,852
Other	2,138	3,623
Total other non-current liabilities	$ 28,060	$ 30,513

Commitments and Contingencies -

Commitments and Contingencies - Textual (Details)	3 Months Ended
	Apr. 01, 2023 USD ($)
Commitments And Contingencies [Line Items]
Sold receivables amount	$ 4,297,000
Due from unrelated third parties	0
Liabilities recorded for obligations	$ 0
Percentage of maximum borrowing capacity of value of eligible securities	70%
Available line of credit	$ 100,000,000
Available interest rate on line of credit	6.50%
Minimum [Member]
Commitments And Contingencies [Line Items]
Warranty period	12 months
Maximum [Member]
Commitments And Contingencies [Line Items]
Warranty period	14 months

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Changes in Warranty Reserves (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2023	Apr. 02, 2022
Commitments And Contingencies Disclosure [Abstract]
Balance, beginning of the period	$ 11,830	$ 9,682
Accruals	2,551	3,619
Usage	(3,879)	(2,726)
Balance, end of the period	$ 10,502	$ 10,575

Revenue - Schedule of Disaggreg

Revenue - Schedule of Disaggregation of Revenue by Timing of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2023	Apr. 02, 2022
Disaggregation Of Revenue [Line Items]
Total revenue	$ 199,165	$ 241,350
Transferred at Point in Time [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	186,374	229,970
Transferred over Time [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	$ 12,791	$ 11,380

Revenue - Additional Informatio

Revenue - Additional Information (Details) - USD ($) $ in Thousands	Apr. 01, 2023	Dec. 31, 2022
Revenue From Contract With Customer [Abstract]
Long-term deferred revenue	$ 2,681	$ 2,852

Revenue - Schedule of Changes i

Revenue - Schedule of Changes in Deferred Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2023	Apr. 02, 2022
Deferred Revenue Disclosure [Abstract]
Balance, beginning of the period	$ 33,014	$ 31,672
Deferral of revenue	16,077	23,500
Recognition of deferred revenue	18,708	(16,573)
Balance, end of the period	$ 30,383	$ 38,599

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Restricted Stock Unit Activity (Details)	3 Months Ended
	Apr. 01, 2023 $ / shares shares
Activity for RSUs [Roll Forward]
Number of Shares, Granted (in shares)	140
Number of Shares, Vested (in shares)	(205)
Number of Shares, Forfeited (in shares)	(9)
Weighted Average Grant Date Fair Value for RSUs [Roll Forward]
Weighted Average Grant Date Fair Value, Granted (in dollars per share) | $ / shares	$ 82.32
Weighted Average Grant Date Fair Value, Vested (in dollars per share) | $ / shares	60.87
Weighted Average Grant Date Fair Value, Forfeited (in dollars per share) | $ / shares	68.97
Weighted Average Grant Date Fair Value, Ending balance (in dollars per share) | $ / shares	$ 74.28
Restricted Stock Units (RSUs) [Member]
Activity for RSUs [Roll Forward]
Number of Shares, Beginning balance (in shares)	743,000
Number of Shares, Ending balance (in shares)	669,000

Share-Based Compensation - Text

Share-Based Compensation - Textual (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Apr. 01, 2023	Dec. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average grant-date fair value per share	$ 74.28
Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of nonvested shares outstanding	669,000	743,000
Weighted average grant-date fair value per share		$ 69.01
Total unrecognized compensation cost related to restricted stock units granted	$ 31,644	$ 28,653
Unrecognized compensation cost related to restricted stock units, weighted average period	1 year 7 months 6 days	1 year 6 months
Restricted Stock Units, Service-Based RSUs [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of nonvested shares outstanding	566,000
Performance Restricted Stock Units (PRSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of nonvested shares outstanding	103,000
Weighted average grant-date fair value per share	$ 100.79	$ 85.49

Other Expense, Net - Schedule o

Other Expense, Net - Schedule of Other Expense, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2023	Apr. 02, 2022
Other Income Expense [Abstract]
Foreign currency exchange losses, net	$ (307)	$ (214)
Other	26	10
Total other expense, net	$ (281)	$ (204)

Income Taxes - Details of Incom

Income Taxes - Details of Income Tax (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2023	Apr. 02, 2022
Income Tax Disclosure [Abstract]
Income before income taxes	$ 32,202	$ 58,917
Provision for income taxes	$ 3,134	$ 5,587
Effective tax rate	10%	9%

Income Taxes - Textual (Details

Income Taxes - Textual (Details) - USD ($) $ in Thousands	Apr. 01, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Deferred tax assets, valuation allowance	$ 11,473	$ 11,772

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 01, 2023	Apr. 02, 2022
Earnings Per Share [Abstract]
Net income	$ 29,068	$ 53,330
Basic earnings per share - weighted average shares outstanding	48,788	49,437
Employee stock options, employee stock purchase grants and restricted stock units - dilutive shares	321	478
Diluted earnings per share - weighted average shares outstanding	49,109	49,915
Earnings per share:
Basic	$ 0.60	$ 1.08
Diluted	$ 0.59	$ 1.07

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Components of Accumulated Other Comprehensive Loss, Net of Tax (Details) $ in Thousands	3 Months Ended
	Apr. 01, 2023 USD ($)
Accumulated Other Comprehensive Income Loss [Line Items]
Balance - Beginning Balance	$ 1,596,426
Balance - Ending Balance	1,624,625
Accumulated Foreign Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Balance - Beginning Balance	(7,115)
Net current period other comprehensive loss	1,090
Reclassifications	0
Balance - Ending Balance	(6,025)
Accumulated Net Unrealized Losses on Available-for-sale Marketable Securities [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Balance - Beginning Balance	(2,895)
Net current period other comprehensive loss	1,392
Reclassifications	0
Balance - Ending Balance	(1,503)
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Balance - Beginning Balance	(10,010)
Net current period other comprehensive loss	(2,482)
Reclassifications	0
Balance - Ending Balance	$ (7,528)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss) - Additional Information (Details) $ in Thousands	3 Months Ended
	Apr. 01, 2023 USD ($)
Accumulated Other Comprehensive Loss [Abstract]
Tax Effect Marketable Securities	$ 298

Segment Reporting and Geograp_3

Segment Reporting and Geographic Information - Additional Information (Details)	3 Months Ended
	Apr. 01, 2023 Segment
Segment Reporting [Abstract]
Number of reportable segments	1

Segment Reporting and Geograp_4

Segment Reporting and Geographic Information - Schedule of Revenue from External Customers by Products and Services (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2023	Apr. 02, 2022
Segment Reporting Information [Line Items]
Total revenue	$ 199,165	$ 241,350
Sales [Member] | Product [Member]
Segment Reporting Information [Line Items]
Concentration risk, percentage	100%	100%
Systems and Software [Member]
Segment Reporting Information [Line Items]
Total revenue	$ 166,824	$ 209,383
Systems and Software [Member] | Sales [Member] | Product [Member]
Segment Reporting Information [Line Items]
Concentration risk, percentage	84%	87%
Parts Revenue [Member]
Segment Reporting Information [Line Items]
Total revenue	$ 20,423	$ 19,857
Parts Revenue [Member] | Sales [Member] | Product [Member]
Segment Reporting Information [Line Items]
Concentration risk, percentage	10%	8%
Service Revenue [Member]
Segment Reporting Information [Line Items]
Total revenue	$ 11,918	$ 12,110
Service Revenue [Member] | Sales [Member] | Product [Member]
Segment Reporting Information [Line Items]
Concentration risk, percentage	6%	5%

Segment Reporting and Geograp_5

Segment Reporting and Geographic Information - Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 01, 2023	Apr. 02, 2022
Segment Reporting Information [Line Items]
Total revenue	$ 199,165	$ 241,350
China [Member]
Segment Reporting Information [Line Items]
Total revenue	36,551	63,394
South Korea [Member]
Segment Reporting Information [Line Items]
Total revenue	45,473	61,135
Taiwan [Member]
Segment Reporting Information [Line Items]
Total revenue	26,705	53,392
United States [Member]
Segment Reporting Information [Line Items]
Total revenue	40,713	26,801
Europe [Member]
Segment Reporting Information [Line Items]
Total revenue	17,918	18,428
Southeast Asia [Member]
Segment Reporting Information [Line Items]
Total revenue	17,301	9,225
Japan [Member]
Segment Reporting Information [Line Items]
Total revenue	$ 14,504	$ 8,975

Segment Reporting and Geograp_6

Segment Reporting and Geographic Information - Schedule of Revenue by Major Customer by Reporting Segments (Details) - Customer Concentration Risk - Sales [Member]	3 Months Ended
	Apr. 01, 2023	Apr. 02, 2022
Taiwan Semiconductor Manufacturing Co. Ltd. [Member]
Concentration Risk [Line Items]
Customer concentration risk percentage	14%	16%
SK Hynix Inc. [Member]
Concentration Risk [Line Items]
Customer concentration risk percentage	2%	19%
Samsung Semiconductor [Member]
Concentration Risk [Line Items]
Customer concentration risk percentage	20%	10%

Share Repurchase Authorization

Share Repurchase Authorization - Textual (Details) - USD ($) shares in Thousands	3 Months Ended
	Apr. 01, 2023	Nov. 30, 2020
Shares Repurchase Authorization [Line Items]
Purchases and retirement of common stock (in shares)	46
Amount available for future repurchase	$ 31,577,000
Maximum [Member]
Shares Repurchase Authorization [Line Items]
Stock repurchase, authorized amount		$ 100,000,000

Disclosure - Restructuring (Add

Disclosure - Restructuring (Additional Information) (Details) $ in Thousands	3 Months Ended
	Apr. 01, 2023 USD ($)
Restructuring Charges [Abstract]
Restructuring cost in cost of goods sold	$ 2,279
Restructuring cost in operating expenses	$ 2,034