Onto Innovation (ONTO) 10-Q 3 May 22 2022 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	3 Months Ended
	Apr. 02, 2022	Apr. 19, 2022
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. 2, 2022
Document Fiscal Year Focus	2022
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		49,556,669
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. 02, 2022	Mar. 27, 2021
Income Statement [Abstract]
Revenue	$ 241,350	$ 169,279
Cost of revenue	110,327	78,810
Gross profit	131,023	90,469
Operating expenses:
Research and development	26,341	21,964
Sales and marketing	15,632	13,104
General and administrative	16,487	15,559
Amortization	13,819	12,357
Total operating expenses	72,279	62,984
Operating income	58,744	27,485
Interest income, net	377	361
Other expense, net	(204)	(1,244)
Income before provision for income taxes	58,917	26,602
Provision for income taxes	5,587	2,489
Net income	$ 53,330	$ 24,113
Earnings per share:
Basic	$ 1.08	$ 0.49
Diluted	$ 1.07	$ 0.49
Weighted average shares outstanding:
Basic	49,437	49,000
Diluted	49,915	49,572

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2022	Mar. 27, 2021
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 53,330	$ 24,113
Other comprehensive loss, net of tax:
Change in net unrealized losses on available-for-sale marketable securities	(3,001)	(131)
Change in currency translation adjustments	(3,612)	(1,899)
Total other comprehensive loss, net of tax	(6,613)	(2,030)
Total comprehensive income	$ 46,717	$ 22,083

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Apr. 02, 2022	Jan. 02, 2022
Current Assets:
Cash and cash equivalents	$ 172,463	$ 169,602
Marketable securities	369,448	341,741
Accounts receivable, less allowance of $1,526 and $1,303	206,695	177,205
Inventories, net	263,008	243,108
Prepaid expenses and other current assets	20,628	16,433
Total current assets	1,032,242	948,089
Property, plant and equipment, net	81,689	82,094
Goodwill	315,811	315,811
Identifiable intangible assets, net	263,512	277,281
Deferred income taxes	4,669	4,822
Other assets	24,484	21,716
Total assets	1,722,407	1,649,813
Current liabilities:
Accounts payable	70,757	53,345
Accrued liabilities	37,741	43,042
Deferred revenue	36,462	29,979
Other current liabilities	39,719	28,160
Total current liabilities	184,679	154,526
Deferred income taxes	33,396	40,281
Other non-current liabilities	32,011	28,951
Total liabilities	250,086	223,758
Commitments and contingencies
Stockholders’ equity:
Common stock	49	49
Additional paid-in capital	1,255,728	1,256,179
Accumulated other comprehensive (loss) income	(5,297)	1,316
Retained earnings	221,841	168,511
Total stockholders’ equity	1,472,321	1,426,055
Total liabilities and stockholders’ equity	$ 1,722,407	$ 1,649,813

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) (Unaudited) - USD ($) $ in Thousands	Apr. 02, 2022	Jan. 02, 2022
Statement Of Financial Position [Abstract]
Allowances for doubtful accounts	$ 1,526	$ 1,303

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2022	Mar. 27, 2021
Cash flows from operating activities:
Net income	$ 53,330	$ 24,113
Adjustments to reconcile net income to net cash and cash equivalents provided by operating activities:
Amortization of intangibles	13,819	12,357
Depreciation	2,366	3,618
Share-based compensation	4,832	4,890
Acquired inventory step-up amortization		252
Provision for inventory valuation	2,115	2,267
Deferred income taxes	(6,848)	460
Other, net	1,226	1,713
Changes in operating assets and liabilities, net of effects of business acquired	(25,384)	1,329
Net cash and cash equivalents provided by operating activities	45,456	50,999
Cash flows from investing activities:
Purchases of marketable securities	(97,490)	(83,652)
Proceeds from maturities and sales of marketable securities	66,684	53,973
Purchase of business, net of cash acquired		(26,795)
Purchases of property, plant and equipment	(2,494)	(3,875)
Net cash and cash equivalents used in investing activities	(33,300)	(60,349)
Cash flows from financing activities:
Tax payments related to shares withheld for share-based compensation plans	(5,289)	(2,492)
Payment of contingent consideration for acquired business	(2,287)
Issuance of shares through share-based compensation plans	6	3,085
Net cash and cash equivalents used in financing activities	(7,570)	593
Effect of exchange rate changes on cash and cash equivalents	(1,725)	(1,513)
Net increase (decrease) in cash and cash equivalents	2,861	(10,270)
Cash and cash equivalents at beginning of period	169,602	136,720
Cash and cash equivalents at end of period	172,463	126,450
Supplemental disclosure of cash flow information:
Income taxes paid (net of refunds)	$ 1,331	$ 1,799

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings [Member]
Balance at Dec. 26, 2020	$ 1,264,746	$ 49	$ 1,233,967	$ 4,568	$ 26,162
Balance, Shares at Dec. 26, 2020		48,758
Net income	24,113				24,113
Share-based compensation	4,890		4,890
Issuance of shares through share-based compensation plans	3,085		3,085
Issuance of shares through share-based compensation plans, Shares		240
Share-based compensation plan withholdings	(2,492)		(2,492)
Share-based compensation plan withholdings, Shares		(41)
Currency translation	(1,899)			(1,899)
Unrealized loss on investments	(131)			(131)
Balance at Mar. 27, 2021	1,292,312	$ 49	1,239,450	2,538	50,275
Balance, shares at Mar. 27, 2021		48,957
Balance at Jan. 01, 2022	1,426,055	$ 49	1,256,179	1,316	168,511
Balance, Shares at Jan. 01, 2022		49,300
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
Share-based compensation plan withholdings	(5,289)		(5,289)
Share-based compensation plan withholdings, Shares		(46)
Currency translation	(3,612)			(3,612)
Unrealized loss on investments	(3,001)			(3,001)
Balance at Apr. 02, 2022	$ 1,472,321	$ 49	$ 1,255,728	$ (5,297)	$ 221,841
Balance, shares at Apr. 02, 2022		49,438

Basis of Presentation

Basis of Presentation	3 Months Ended
	Apr. 02, 2022
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	NOTE 1. Basis of Presentation The Company operates on a 52- or 53-week fiscal year ending on the Saturday closest to December 31 st 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,” or “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 2, 2022 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 January 1, 2022 (the “2021 Form 10-K”) filed with the Securities and Exchange Commission (“SEC”) on February 25, 2022. The accompanying Condensed Consolidated Balance Sheet at January 1, 2022 has been derived from the audited consolidated financial statements included in the 2021 Form 10-K. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Significant estimates made by management include the allowance for credit losses, 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, 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 2, 2022, as compared to the recent accounting pronouncements described in the Company’s Annual Report on Form 10-K for the fiscal year ended January 1, 2022, that are of significance, or potential significance to the Company.

Business Combination

Business Combination	3 Months Ended
	Apr. 02, 2022
Business Combinations [Abstract]
Business Combination	NOTE 2. Business Combination Inspectrology, LLC During the first quarter of 2021, the Company acquired Inspectrology, LLC (“Inspectrology”), a supplier of overlay metrology for controlling lithography and etch processes in the compound semiconductor market for $24,015 in cash and an earnout subject to achievement of certain revenue targets earned for fiscal year 2021 and fiscal year 2022. As of January 1, 2022, $2,287 of the earnout has been achieved and was recorded in operating expenses. There is potential earnout for up to an additional payment of $ 5,000 based on fiscal 2022 results. As of April 2, 2022, the Company has accrued $ 1,873 for the potential earnout. Certain payments, including the earnout, are subject to the principals remaining with the Company for a period of one to three years .

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Apr. 02, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	NOTE 3. 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 2, 2022 and January 1, 2022: Fair Value Measurements Using Carrying Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) April 2, 2022 Assets: Available-for-sale debt securities: Municipal notes and bonds $ 187,723 $ — $ 187,723 $ — Asset-backed securities 2,188 — 2,188 — Certificates of deposit 25,223 — 25,223 — Commercial paper 79,966 — 79,966 — Corporate bonds 74,348 — 74,348 — Total assets $ 369,448 $ — $ 369,448 $ — Liabilities: Foreign currency forward contracts $ 109 $ — $ 109 $ — Contingent consideration - acquisitions 1,873 — — 1,873 Total liabilities $ 1,982 $ — $ 109 $ 1,873 January 1, 2022 Assets: Available-for-sale debt securities: Municipal notes and bonds $ 170,980 $ — $ 170,980 $ — Asset-backed securities 2,009 — 2,009 — Certificates of deposit 33,192 — 33,192 — Commercial paper 73,113 — 73,113 — Corporate bonds 62,447 — 62,447 — Total assets $ 341,741 $ — $ 341,741 $ — Liabilities: Foreign currency forward contracts $ 26 $ — $ 26 $ — Total liabilities $ 26 $ — $ 26 $ — 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 4 for additional discussion regarding the fair value of the Company’s marketable securities.

Marketable Securities

Marketable Securities	3 Months Ended
	Apr. 02, 2022
Marketable Securities [Abstract]
Marketable Securities	NOTE 4. Marketable Securities At April 2, 2022 and January 1, 2022, marketable securities are categorized as follows: Amortized Cost Gross Unrealized Holding Gains Gross Unrealized Holding Losses Fair Value April 2, 2022 Municipal notes and bonds $ 189,742 $ — $ 2,019 $ 187,723 Asset-backed securities 2,201 — 13 2,188 Certificates of deposit 25,300 1 78 25,223 Commercial paper 80,210 — 244 79,966 Corporate bonds 75,451 — 1,103 74,348 Total marketable securities $ 372,904 $ 1 $ 3,457 $ 369,448 January 1, 2022 Municipal notes and bonds $ 171,203 $ 38 $ 261 $ 170,980 Asset-backed securities 2,009 — — 2,009 Certificates of deposit 33,200 2 10 33,192 Commercial paper 73,152 2 41 73,113 Corporate bonds 62,634 29 216 62,447 Total marketable securities $ 342,198 $ 71 $ 528 $ 341,741 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 2, 2022 and January 1, 2022: April 2, 2022 January 1, 2022 Amortized Cost Fair Value Amortized Cost Fair Value Due within one year $ 259,879 $ 258,530 $ 219,353 $ 219,211 Due after one through five years 113,025 110,918 122,845 122,530 Due after five years — — — — Total marketable securities $ 372,904 $ 369,448 $ 342,198 $ 341,741 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 2, 2022 and January 1, 2022: In Unrealized Loss Position For Less Than 12 Months In Unrealized Loss Position For Greater Than 12 Months Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses April 2, 2022 Municipal notes and bonds $ 187,811 $ 2,002 $ 1,930 $ 17 Asset-backed securities 2,201 13 — — Certificates of deposit 25,300 78 — — Commercial paper 80,210 244 — — Corporate bonds 72,864 1,021 2,587 82 Total $ 368,386 $ 3,358 $ 4,517 $ 99 January 1, 2022 Municipal notes and bonds $ 113,790 $ 262 $ — $ — Certificates of deposit 16,300 10 — — Commercial paper 58,681 40 — — Corporate bonds 53,661 150 2,587 66 Total $ 242,432 $ 462 $ 2,587 $ 66 See Note 3 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. 02, 2022
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	NOTE 5. 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 2, 2022 and January 1, 2022, these contracts included the future sale of euro, Israeli shekel, 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 2, 2022 and January 1, 2022 were as follows: April 2, 2022 January 1, 2022 Notional amount $ 31,866 $ 32,293 Fair value of liability $ 109 $ 26

Purchased Intangible Assets

Purchased Intangible Assets	3 Months Ended
	Apr. 02, 2022
Goodwill And Intangible Assets Disclosure [Abstract]
Purchased Intangible Assets	NOTE 6. Purchased Intangible Assets Intangible Assets Purchased intangible assets as of April 2, 2022 and January 1, 2022 are as follows: Gross Carrying Amount Accumulated Amortization Net April 2, 2022 Finite-lived intangibles: Developed technology $ 378,047 $ 168,326 $ 209,721 Customer and distributor relationships 73,321 26,755 46,566 Trademarks and trade names 14,171 6,946 7,225 Total identifiable intangible assets $ 465,539 $ 202,027 $ 263,512 January 1, 2022 Finite-lived intangibles: Developed technology $ 377,997 $ 155,976 $ 222,021 Customer and distributor relationships 73,321 25,608 47,713 Trademarks and trade names 14,171 6,624 7,547 Total identifiable intangible assets $ 465,489 $ 188,208 $ 277,281 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 2022 (remainder) $ 41,459 2023 54,804 2024 49,119 2025 32,569 2026 31,376 2027 23,154 Thereafter 31,031 Total $ 263,512

Balance Sheet Details

Balance Sheet Details	3 Months Ended
	Apr. 02, 2022
Balance Sheet Detail [Abstract]
Balance Sheet Details	NOTE 7. Balance Sheet Details Inventories Inventories, net are comprised of the following: April 2, 2022 January 1, 2022 Materials $ 171,896 $ 157,343 Work-in-process 68,905 60,415 Finished goods 22,207 25,350 Total inventories, net $ 263,008 $ 243,108 Property, Plant and Equipment Property, plant and equipment, net is comprised of the following: April 2, 2022 January 1, 2022 Machinery and equipment $ 51,385 $ 50,226 Land and building 48,318 48,297 Computer equipment and software 14,441 13,856 Leasehold improvements 13,725 13,710 Furniture and fixtures 2,532 2,534 130,401 128,623 Accumulated depreciation and amortization (48,712 ) (46,529 ) Total property, plant and equipment, net $ 81,689 $ 82,094 Other assets Other assets is comprised of the following: April 2, 2022 January 1, 2022 Operating lease right-of-use assets $ 20,197 $ 17,488 Other 4,287 4,228 Total other assets $ 24,484 $ 21,716 Accrued liabilities Accrued liabilities is comprised of the following: April 2, 2022 January 1, 2022 Payroll and related expenses $ 26,483 $ 32,581 Warranty 9,868 9,093 Other 1,390 1,368 Total accrued liabilities $ 37,741 $ 43,042 Other current liabilities Other current liabilities is comprised of the following: April 2, 2022 January 1, 2022 Customer deposits $ 10,353 $ 9,459 Current operating lease obligations 4,791 3,968 Income tax payable 16,952 6,315 Accrued professional fees 1,360 912 Other 6,263 7,506 Total other current liabilities $ 39,719 $ 28,160 Other non-current liabilities Other non-current liabilities is comprised of the following: April 2, 2022 January 1, 2022 Non-current operating lease obligations $ 16,144 $ 13,754 Unrecognized tax benefits (including interest) 8,028 7,861 Deferred revenue 2,137 1,693 Other 5,702 5,643 Total other non-current liabilities $ 32,011 $ 28,951

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Apr. 02, 2022
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 8. 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 $8,755 of receivables during the three months ended April 2, 2022. 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 2, 2022. 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 2, March 27, 2022 2021 Balance, beginning of the period $ 9,682 $ 6,485 Accruals 3,619 2,652 Warranty liability assumed in acquisition — 407 Usage (2,726 ) (2,039 ) Balance, end of the period $ 10,575 $ 7,505 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 in New Hampshire Superior Court (the “Complaint”). The Complaint, brought by Optical Solutions, Inc. (“OSI”), alleges claims arising from a purported exclusive purchase contract between OSI and Nanometrics pertaining to certain products. The relief sought is the award of damages in an amount to be proven at trial, attorney’s fees and cost as well as other relief the court deems just and proper. On September 18, 2017, Nanometrics removed the action to the United States District Court for the District of New Hampshire (the “District of New Hampshire”). On September 25, 2017, Nanometrics moved to transfer the Complaint to the United States District Court for the Northern District of California (the “Northern District of California”). On December 20, 2017, Nanometrics filed its 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 relief sought is 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 cost as well as other relief the court deems just and proper. Nanometrics’ complaint was later removed by OSI to the Northern District of California. On May 29, 2018, the District of New Hampshire issued an order granting Nanometrics’ motion to transfer the Complaint to the Northern District of California and denying Nanometrics’ motion to dismiss the Complaint without prejudice. On June 14, 2018, the Complaint was consolidated with Nanometrics’ complaint against OSI. On August 9, 2018, OSI filed an Amended Complaint. On September 19, 2018, Nanometrics filed a motion to dismiss OSI’s Amended Complaint for failure to state a claim. Nanometrics’ motion to dismiss was heard on February 28, 2019. On March 5, 2019, the Northern District of California granted Nanometrics’ motion to dismiss with leave to amend. OSI filed a Second Amended Complaint on March 29, 2019. Nanometrics filed a motion to dismiss OSI’s Second Amended Complaint on May 31, 2019. In October 2019, Nanometrics was renamed Onto Innovation Inc. as a result of the Merger. Thereafter, the Company’s second motion to dismiss was heard on November 14, 2019. On November 26, 2019, the Northern District of California granted the Company’s motion to dismiss with leave to amend. OSI filed a Third Amended Complaint on January 21, 2020. On March 2, 2020, the Company filed a motion to dismiss OSI’s Third Amended Complaint and a hearing on the motion was held on June 11, 2020. On June 23, 2020, the Northern District of California granted the Company’s motion to dismiss with prejudice with regard to two claims asserted by OSI and dismissed two other claims asserted by OSI with leave to amend. Thereafter, on July 7, 2020, OSI filed a Fourth Amended Complaint. On August 14, 2020, the Company filed a motion to dismiss with regard to one of the two remaining claims. On December 1, 2020, the Northern District of California denied this final motion to dismiss and as a result the Company filed its Answer in this matter on December 22, 2020. This matter is currently in discovery. The Northern District of California granted a joint stipulation that the discovery cutoff is November 1, 2022 and the trial date is set for December 4, 2023. At this time, 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 2, 2022 was approximately $128.7 million with an available interest rate of 2.0%. 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 to date.

Revenue

Revenue	3 Months Ended
	Apr. 02, 2022
Revenue From Contract With Customer [Abstract]
Revenue	NOTE 9. Revenue The following table represents a disaggregation of revenue by timing of revenue: Three Months Ended April 2, March 27, 2022 2021 Point-in-time $ 229,970 $ 161,161 Over-time 11,380 8,118 Total revenue $ 241,350 $ 169,279 See Note 15 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 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 2, 2022 and January 1, 2022, the Company carried a long-term deferred revenue balance of $2,137 and $1,693, respectively, in other non-current liabilities on the Condensed Consolidated Balance Sheets. Changes in deferred revenue were as follows: Three Months Ended April 2, March 27, 2022 2021 Balance, beginning of the period $ 31,672 $ 15,626 Deferred revenue assumed in acquisition — 385 Deferral of revenue 23,500 19,232 Recognition of deferred revenue (16,573 ) (12,814 ) Balance, end of the period $ 38,599 $ 22,429

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Apr. 02, 2022
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share-Based Compensation	NOTE 10. 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 2, 2022 is as follows: Number of Shares Weighted Average Grant Date Fair Value Nonvested at January 1, 2022 765 $ 48.25 Granted 120 $ 89.15 Vested (175 ) $ 49.56 Forfeited (30 ) $ 51.59 Nonvested at September 25, 2021 680 $ 54.99 Of the 680 nonvested shares outstanding at April 2, 2022, 581 are service-based RSUs and 99 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 2022 and 2021 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 $85.49 and $80.04, respectively. As of April 2, 2022 and January 1 2022, there was $25,196 and $21,019 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 1.4 years and 1.5 years for April 2, 2022 and January 1, 2022, respectively.

Other Expense, Net

Other Expense, Net	3 Months Ended
	Apr. 02, 2022
Other Income Expense [Abstract]
Other Expense, Net	NOTE 11. Other Expense, Net Other expense, net, is comprised of the following: Three Months Ended April 2, March 27, 2022 2021 Foreign currency exchange losses, net $ (214 ) $ (1,271 ) Other 10 27 Total other expense, net $ (204 ) $ (1,244 )

Income Taxes

Income Taxes	3 Months Ended
	Apr. 02, 2022
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 12. Income Taxes The following table provides details of income taxes: Three Months Ended April 2, March 27, 2022 2021 Income before income taxes $ 58,917 $ 26,602 Provision for income taxes $ 5,587 $ 2,489 Effective tax rate 9 % 9 % The income tax provision for the three months ended April 2, 2022 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 in the 2022 period 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 increase in the Company’s income tax provision for the three months ended April 2, 2022 as compared to the three months ended March 27, 2021 is primarily due to an increase in quarterly earnings, offset by an increase in the Foreign Derived Intangible Income (“FDII”) deduction, and an increase in the excess tax benefit associated with equity compensation. The Company’s recorded effective tax rate 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 $ 10,948 for both April 2, 2022 and January 1, 2022.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Apr. 02, 2022
Earnings Per Share [Abstract]
Earnings Per Share	NOTE 13. 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 2, March 27, 2022 2021 Numerator: Net income $ 53,330 $ 24,113 Denominator: Basic earnings per share - weighted average shares outstanding 49,437 49,000 Effect of potential dilutive securities: Employee stock options, employee stock purchase grants and restricted stock units - dilutive shares 478 572 Diluted earnings per share - weighted average shares outstanding 49,915 49,572 Earnings per share: Basic $ 1.08 $ 0.49 Diluted $ 1.07 $ 0.49

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Apr. 02, 2022
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss)	NOTE 14. Accumulated Other Comprehensive Income (Loss) The components of accumulated other comprehensive loss, net of tax, at April 2, 2022, as well as the activity for the three months ended April 2, 2022, were as follows: Foreign currency translation adjustments Net unrealized losses on available-for-sale marketable securities Accumulated other comprehensive income (loss) Balance at January 1, 2022 $ 1,764 $ (448 ) $ 1,316 Net current period other comprehensive loss (3,612 ) (3,001 ) (6,613 ) Reclassifications — — — Balance at April 2, 2022 $ (1,848 ) $ (3,449 ) $ (5,297 )

Segment Reporting and Geographi

Segment Reporting and Geographic Information	3 Months Ended
	Apr. 02, 2022
Segment Reporting [Abstract]
Segment Reporting and Geographic Information	NOTE 15. 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 2, March 27, 2022 2021 Systems and software $ 209,383 87 % $ 141,509 84 % Parts 19,857 8 % 17,418 10 % Services 12,110 5 % 10,352 6 % Total revenue $ 241,350 100 % $ 169,279 100 % 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 2, March 27, 2022 2021 Revenue from third parties: China $ 63,394 $ 25,779 South Korea 61,135 50,530 Taiwan 53,392 36,293 United States 26,801 25,480 Europe 18,428 17,385 Southeast Asia 9,225 5,947 Japan 8,975 7,865 Total revenue $ 241,350 $ 169,279 The following customers accounted for 10% or more of total revenue for the indicated periods: Three Months Ended April 2, March 27, 2022 2021 SK Hynix Inc. 19 % 12 % Taiwan Semiconductor Manufacturing Co. Ltd. 16 % 13 % Samsung Semiconductor 10 % 25 %

Share Repurchase Authorization

Share Repurchase Authorization	3 Months Ended
	Apr. 02, 2022
Share Repurchase Program [Abstract]
Share Repurchase Authorization	NOTE 16. 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 million 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. No shares were purchased in the three months ended April 2, 2022. At April 2, 2022, there was $100 million available for future share repurchases under this share repurchase authorization.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Apr. 02, 2022
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Significant estimates made by management include the allowance for credit losses, 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, 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 2, 2022, as compared to the recent accounting pronouncements described in the Company’s Annual Report on Form 10-K for the fiscal year ended January 1, 2022, that are of significance, or potential significance to the Company.

Fair Value Measurements - (Tabl

Fair Value Measurements - (Tables)	3 Months Ended
	Apr. 02, 2022
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 2, 2022 and January 1, 2022: Fair Value Measurements Using Carrying Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) April 2, 2022 Assets: Available-for-sale debt securities: Municipal notes and bonds $ 187,723 $ — $ 187,723 $ — Asset-backed securities 2,188 — 2,188 — Certificates of deposit 25,223 — 25,223 — Commercial paper 79,966 — 79,966 — Corporate bonds 74,348 — 74,348 — Total assets $ 369,448 $ — $ 369,448 $ — Liabilities: Foreign currency forward contracts $ 109 $ — $ 109 $ — Contingent consideration - acquisitions 1,873 — — 1,873 Total liabilities $ 1,982 $ — $ 109 $ 1,873 January 1, 2022 Assets: Available-for-sale debt securities: Municipal notes and bonds $ 170,980 $ — $ 170,980 $ — Asset-backed securities 2,009 — 2,009 — Certificates of deposit 33,192 — 33,192 — Commercial paper 73,113 — 73,113 — Corporate bonds 62,447 — 62,447 — Total assets $ 341,741 $ — $ 341,741 $ — Liabilities: Foreign currency forward contracts $ 26 $ — $ 26 $ — Total liabilities $ 26 $ — $ 26 $ —

Marketable Securities - (Tables

Marketable Securities - (Tables)	3 Months Ended
	Apr. 02, 2022
Marketable Securities [Abstract]
Schedule of Marketable Securities by Category	At April 2, 2022 and January 1, 2022, marketable securities are categorized as follows: Amortized Cost Gross Unrealized Holding Gains Gross Unrealized Holding Losses Fair Value April 2, 2022 Municipal notes and bonds $ 189,742 $ — $ 2,019 $ 187,723 Asset-backed securities 2,201 — 13 2,188 Certificates of deposit 25,300 1 78 25,223 Commercial paper 80,210 — 244 79,966 Corporate bonds 75,451 — 1,103 74,348 Total marketable securities $ 372,904 $ 1 $ 3,457 $ 369,448 January 1, 2022 Municipal notes and bonds $ 171,203 $ 38 $ 261 $ 170,980 Asset-backed securities 2,009 — — 2,009 Certificates of deposit 33,200 2 10 33,192 Commercial paper 73,152 2 41 73,113 Corporate bonds 62,634 29 216 62,447 Total marketable securities $ 342,198 $ 71 $ 528 $ 341,741
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 2, 2022 and January 1, 2022: April 2, 2022 January 1, 2022 Amortized Cost Fair Value Amortized Cost Fair Value Due within one year $ 259,879 $ 258,530 $ 219,353 $ 219,211 Due after one through five years 113,025 110,918 122,845 122,530 Due after five years — — — — Total marketable securities $ 372,904 $ 369,448 $ 342,198 $ 341,741
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 2, 2022 and January 1, 2022: In Unrealized Loss Position For Less Than 12 Months In Unrealized Loss Position For Greater Than 12 Months Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses April 2, 2022 Municipal notes and bonds $ 187,811 $ 2,002 $ 1,930 $ 17 Asset-backed securities 2,201 13 — — Certificates of deposit 25,300 78 — — Commercial paper 80,210 244 — — Corporate bonds 72,864 1,021 2,587 82 Total $ 368,386 $ 3,358 $ 4,517 $ 99 January 1, 2022 Municipal notes and bonds $ 113,790 $ 262 $ — $ — Certificates of deposit 16,300 10 — — Commercial paper 58,681 40 — — Corporate bonds 53,661 150 2,587 66 Total $ 242,432 $ 462 $ 2,587 $ 66

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	3 Months Ended
	Apr. 02, 2022
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 2, 2022 and January 1, 2022 were as follows: April 2, 2022 January 1, 2022 Notional amount $ 31,866 $ 32,293 Fair value of liability $ 109 $ 26

Purchased Intangible Assets (Ta

Purchased Intangible Assets (Tables)	3 Months Ended
	Apr. 02, 2022
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Purchased Intangible Assets	Intangible Assets Purchased intangible assets as of April 2, 2022 and January 1, 2022 are as follows: Gross Carrying Amount Accumulated Amortization Net April 2, 2022 Finite-lived intangibles: Developed technology $ 378,047 $ 168,326 $ 209,721 Customer and distributor relationships 73,321 26,755 46,566 Trademarks and trade names 14,171 6,946 7,225 Total identifiable intangible assets $ 465,539 $ 202,027 $ 263,512 January 1, 2022 Finite-lived intangibles: Developed technology $ 377,997 $ 155,976 $ 222,021 Customer and distributor relationships 73,321 25,608 47,713 Trademarks and trade names 14,171 6,624 7,547 Total identifiable intangible assets $ 465,489 $ 188,208 $ 277,281
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 2022 (remainder) $ 41,459 2023 54,804 2024 49,119 2025 32,569 2026 31,376 2027 23,154 Thereafter 31,031 Total $ 263,512

Balance Sheet Details (Tables)

Balance Sheet Details (Tables)	3 Months Ended
	Apr. 02, 2022
Balance Sheet Detail [Abstract]
Schedule of Inventories	Inventories, net are comprised of the following: April 2, 2022 January 1, 2022 Materials $ 171,896 $ 157,343 Work-in-process 68,905 60,415 Finished goods 22,207 25,350 Total inventories, net $ 263,008 $ 243,108
Schedule of Property, Plant and Equipment, Net	Property, plant and equipment, net is comprised of the following: April 2, 2022 January 1, 2022 Machinery and equipment $ 51,385 $ 50,226 Land and building 48,318 48,297 Computer equipment and software 14,441 13,856 Leasehold improvements 13,725 13,710 Furniture and fixtures 2,532 2,534 130,401 128,623 Accumulated depreciation and amortization (48,712 ) (46,529 ) Total property, plant and equipment, net $ 81,689 $ 82,094
Schedule of Other Assets	Other assets is comprised of the following: April 2, 2022 January 1, 2022 Operating lease right-of-use assets $ 20,197 $ 17,488 Other 4,287 4,228 Total other assets $ 24,484 $ 21,716
Schedule of Accrued Liabilities	Accrued liabilities is comprised of the following: April 2, 2022 January 1, 2022 Payroll and related expenses $ 26,483 $ 32,581 Warranty 9,868 9,093 Other 1,390 1,368 Total accrued liabilities $ 37,741 $ 43,042
Schedule of Other Current Liabilities	Other current liabilities is comprised of the following: April 2, 2022 January 1, 2022 Customer deposits $ 10,353 $ 9,459 Current operating lease obligations 4,791 3,968 Income tax payable 16,952 6,315 Accrued professional fees 1,360 912 Other 6,263 7,506 Total other current liabilities $ 39,719 $ 28,160
Schedule of Other Non-Current Liabilities	Other non-current liabilities is comprised of the following: April 2, 2022 January 1, 2022 Non-current operating lease obligations $ 16,144 $ 13,754 Unrecognized tax benefits (including interest) 8,028 7,861 Deferred revenue 2,137 1,693 Other 5,702 5,643 Total other non-current liabilities $ 32,011 $ 28,951

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Apr. 02, 2022
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 2, March 27, 2022 2021 Balance, beginning of the period $ 9,682 $ 6,485 Accruals 3,619 2,652 Warranty liability assumed in acquisition — 407 Usage (2,726 ) (2,039 ) Balance, end of the period $ 10,575 $ 7,505

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Apr. 02, 2022
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 2, March 27, 2022 2021 Point-in-time $ 229,970 $ 161,161 Over-time 11,380 8,118 Total revenue $ 241,350 $ 169,279
Schedule of Changes in Deferred Revenue	Changes in deferred revenue were as follows: Three Months Ended April 2, March 27, 2022 2021 Balance, beginning of the period $ 31,672 $ 15,626 Deferred revenue assumed in acquisition — 385 Deferral of revenue 23,500 19,232 Recognition of deferred revenue (16,573 ) (12,814 ) Balance, end of the period $ 38,599 $ 22,429

Share-Based Compensation - (Tab

Share-Based Compensation - (Tables)	3 Months Ended
	Apr. 02, 2022
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 2, 2022 is as follows: Number of Shares Weighted Average Grant Date Fair Value Nonvested at January 1, 2022 765 $ 48.25 Granted 120 $ 89.15 Vested (175 ) $ 49.56 Forfeited (30 ) $ 51.59 Nonvested at September 25, 2021 680 $ 54.99

Other Expense, Net (Tables)

Other Expense, Net (Tables)	3 Months Ended
	Apr. 02, 2022
Other Income Expense [Abstract]
Schedule of Other Expense, Net	Other expense, net, is comprised of the following: Three Months Ended April 2, March 27, 2022 2021 Foreign currency exchange losses, net $ (214 ) $ (1,271 ) Other 10 27 Total other expense, net $ (204 ) $ (1,244 )

Income Taxes - (Tables)

Income Taxes - (Tables)	3 Months Ended
	Apr. 02, 2022
Income Tax Disclosure [Abstract]
Details of Income Tax	The following table provides details of income taxes: Three Months Ended April 2, March 27, 2022 2021 Income before income taxes $ 58,917 $ 26,602 Provision for income taxes $ 5,587 $ 2,489 Effective tax rate 9 % 9 %

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Apr. 02, 2022
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 2, March 27, 2022 2021 Numerator: Net income $ 53,330 $ 24,113 Denominator: Basic earnings per share - weighted average shares outstanding 49,437 49,000 Effect of potential dilutive securities: Employee stock options, employee stock purchase grants and restricted stock units - dilutive shares 478 572 Diluted earnings per share - weighted average shares outstanding 49,915 49,572 Earnings per share: Basic $ 1.08 $ 0.49 Diluted $ 1.07 $ 0.49

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Apr. 02, 2022
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 2, 2022, as well as the activity for the three months ended April 2, 2022, were as follows: Foreign currency translation adjustments Net unrealized losses on available-for-sale marketable securities Accumulated other comprehensive income (loss) Balance at January 1, 2022 $ 1,764 $ (448 ) $ 1,316 Net current period other comprehensive loss (3,612 ) (3,001 ) (6,613 ) Reclassifications — — — Balance at April 2, 2022 $ (1,848 ) $ (3,449 ) $ (5,297 )

Segment Reporting and Geograp_2

Segment Reporting and Geographic Information - (Tables)	3 Months Ended
	Apr. 02, 2022
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 2, March 27, 2022 2021 Systems and software $ 209,383 87 % $ 141,509 84 % Parts 19,857 8 % 17,418 10 % Services 12,110 5 % 10,352 6 % Total revenue $ 241,350 100 % $ 169,279 100 %
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: Three Months Ended April 2, March 27, 2022 2021 Revenue from third parties: China $ 63,394 $ 25,779 South Korea 61,135 50,530 Taiwan 53,392 36,293 United States 26,801 25,480 Europe 18,428 17,385 Southeast Asia 9,225 5,947 Japan 8,975 7,865 Total revenue $ 241,350 $ 169,279
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 2, March 27, 2022 2021 SK Hynix Inc. 19 % 12 % Taiwan Semiconductor Manufacturing Co. Ltd. 16 % 13 % Samsung Semiconductor 10 % 25 %

Business Combination - Textual

Business Combination - Textual (Details) - Inspectrology, LLC [Member] - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2022	Mar. 27, 2021	Jan. 01, 2022
Business Acquisition [Line Items]
Business acquisition, cash consideration		$ 24,015
Business acquisition, achieved earnout payment			$ 2,287
Business combination potential earnout accrued	$ 1,873
Maximum [Member]
Business Acquisition [Line Items]
Business combination potential earnout additional payment		$ 5,000
Business combination potential earnout subject to principal remaining period	3 years
Minimum [Member]
Business Acquisition [Line Items]
Business combination potential earnout subject to principal remaining period	1 year

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Carried at Fair Value Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	Apr. 02, 2022	Jan. 01, 2022
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale debt securities	$ 369,448	$ 341,741
Carrying Value [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets	369,448	341,741
Foreign currency forward contracts	109	26
Contingent consideration - acquisitions	1,873
Total liabilities	1,982	26
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	187,723	170,980
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	2,188	2,009
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	25,223	33,192
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	79,966	73,113
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	74,348	62,447
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
Contingent consideration - acquisitions	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	369,448	341,741
Foreign currency forward contracts	109	26
Contingent consideration - acquisitions	0
Total liabilities	109	26
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	187,723	170,980
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	2,188	2,009
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	25,223	33,192
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	79,966	73,113
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	74,348	62,447
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
Contingent consideration - acquisitions	1,873
Total liabilities	1,873	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. 02, 2022	Jan. 01, 2022
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 372,904	$ 342,198
Gross Unrealized Holding Gains	1	71
Gross Unrealized Holding Losses	3,457	528
Fair Value	369,448	341,741
Municipal notes and bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	189,742	171,203
Gross Unrealized Holding Gains	0	38
Gross Unrealized Holding Losses	2,019	261
Fair Value	187,723	170,980
Asset-backed securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	2,201	2,009
Gross Unrealized Holding Gains	0	0
Gross Unrealized Holding Losses	13	0
Fair Value	2,188	2,009
Certificates of deposits [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	25,300	33,200
Gross Unrealized Holding Gains	1	2
Gross Unrealized Holding Losses	78	10
Fair Value	25,223	33,192
Commercial paper [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	80,210	73,152
Gross Unrealized Holding Gains	0	2
Gross Unrealized Holding Losses	244	41
Fair Value	79,966	73,113
Corporate bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	75,451	62,634
Gross Unrealized Holding Gains	0	29
Gross Unrealized Holding Losses	1,103	216
Fair Value	$ 74,348	$ 62,447

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. 02, 2022	Jan. 01, 2022
Available For Sale Securities Debt Maturities Fair Value [Abstract]
Amortized Cost, Due within one year	$ 259,879	$ 219,353
Amortized Cost, Due after one through five years	113,025	122,845
Amortized Cost, Due after five years	0	0
Amortized Cost	372,904	342,198
Fair Value, Due within one year	258,530	219,211
Fair Value, Due after one through five years	110,918	122,530
Fair Value, Due after five years	0	0
Fair Value, Total marketable securities	$ 369,448	$ 341,741

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. 02, 2022	Jan. 01, 2022
Schedule of Available-for-sale Securities [Line Items]
In Unrealized Loss Position For Less Than 12 Months, Fair Value	$ 368,386	$ 242,432
In Unrealized Loss Position For Less Than 12 Months, Gross Unrealized Losses	3,358	462
In Unrealized Loss Position For Greater Than 12 Months, Fair Value	4,517	2,587
In Unrealized Loss Position For Greater Than 12 Months, Gross Unrealized Losses	99	66
Municipal notes and bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
In Unrealized Loss Position For Less Than 12 Months, Fair Value	187,811	113,790
In Unrealized Loss Position For Less Than 12 Months, Gross Unrealized Losses	2,002	262
In Unrealized Loss Position For Greater Than 12 Months, Fair Value	1,930	0
In Unrealized Loss Position For Greater Than 12 Months, Gross Unrealized Losses	17	0
Asset-backed securities [Member]
Schedule of Available-for-sale Securities [Line Items]
In Unrealized Loss Position For Less Than 12 Months, Fair Value	2,201
In Unrealized Loss Position For Less Than 12 Months, Gross Unrealized Losses	13
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
Certificates of deposits [Member]
Schedule of Available-for-sale Securities [Line Items]
In Unrealized Loss Position For Less Than 12 Months, Fair Value	25,300	16,300
In Unrealized Loss Position For Less Than 12 Months, Gross Unrealized Losses	78	10
In Unrealized Loss Position For Greater Than 12 Months, Fair Value	0	0
In Unrealized Loss Position For Greater Than 12 Months, Gross Unrealized Losses	0	0
Commercial paper [Member]
Schedule of Available-for-sale Securities [Line Items]
In Unrealized Loss Position For Less Than 12 Months, Fair Value	80,210	58,681
In Unrealized Loss Position For Less Than 12 Months, Gross Unrealized Losses	244	40
In Unrealized Loss Position For Greater Than 12 Months, Fair Value	0	0
In Unrealized Loss Position For Greater Than 12 Months, Gross Unrealized Losses	0	0
Corporate bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
In Unrealized Loss Position For Less Than 12 Months, Fair Value	72,864	53,661
In Unrealized Loss Position For Less Than 12 Months, Gross Unrealized Losses	1,021	150
In Unrealized Loss Position For Greater Than 12 Months, Fair Value	2,587	2,587
In Unrealized Loss Position For Greater Than 12 Months, Gross Unrealized Losses	$ 82	$ 66

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities - Forward Contracts and Related Fair Values (Details) - USD ($) $ in Thousands	Apr. 02, 2022	Jan. 01, 2022
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Notional amount	$ 31,866	$ 32,293
Fair value of liability	$ 109	$ 26

Purchased Intangible Assets - S

Purchased Intangible Assets - Schedule of Purchased Intangible Assets (Details) - USD ($) $ in Thousands	Apr. 02, 2022	Jan. 02, 2022	Jan. 01, 2022
Finite Lived Intangible Assets [Line Items]
Finite-lived intangibles assets, Net	$ 263,512
Identifiable intangibles assets, Gross Carrying Amount	465,539		$ 465,489
Identifiable intangibles assets, Accumulated Amortization	202,027		188,208
Identifiable intangibles assets, Net	263,512	$ 277,281	277,281
Developed technology [Member]
Finite Lived Intangible Assets [Line Items]
Finite-lived intangibles assets, Gross Carrying Amount	378,047		377,997
Finite-lived intangibles assets, Accumulated Amortization	168,326		155,976
Finite-lived intangibles assets, Net	209,721		222,021
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	26,755		25,608
Finite-lived intangibles assets, Net	46,566		47,713
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	6,946		6,624
Finite-lived intangibles assets, Net	$ 7,225		$ 7,547

Purchased Intangible Assets -_2

Purchased Intangible Assets - Schedule of Estimated Future Amortization Expenses (Details) $ in Thousands	Apr. 02, 2022USD ($)
Finite Lived Intangible Assets Future Amortization Expense [Abstract]
2022 (remainder)	$ 41,459
2023	54,804
2024	49,119
2025	32,569
2026	31,376
2027	23,154
Thereafter	31,031
Finite-lived intangibles assets, Net	$ 263,512

Balance Sheet Details - Schedul

Balance Sheet Details - Schedule of Inventories (Details) - USD ($) $ in Thousands	Apr. 02, 2022	Jan. 02, 2022	Jan. 01, 2022
Inventory Details [Abstract]
Materials	$ 171,896		$ 157,343
Work-in-process	68,905		60,415
Finished goods	22,207		25,350
Total inventories, net	$ 263,008	$ 243,108	$ 243,108

Balance Sheet Details - Sched_2

Balance Sheet Details - Schedule of Property, Plant and Equipment, Net (Details) - USD ($) $ in Thousands	Apr. 02, 2022	Jan. 02, 2022	Jan. 01, 2022
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 130,401		$ 128,623
Accumulated depreciation and amortization	(48,712)		(46,529)
Total property, plant and equipment, net	81,689	$ 82,094	82,094
Land and building [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	48,318		48,297
Machinery and equipment [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	51,385		50,226
Furniture and fixtures [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	2,532		2,534
Computer equipment and software [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	14,441		13,856
Leasehold improvements [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 13,725		$ 13,710

Balance Sheet Details - Sched_3

Balance Sheet Details - Schedule of Other Assets (Details) - USD ($) $ in Thousands	Apr. 02, 2022	Jan. 02, 2022	Jan. 01, 2022
Other Assets [Abstract]
Operating lease right-of-use assets	$ 20,197		$ 17,488
Other	4,287		4,228
Total other assets	$ 24,484	$ 21,716	$ 21,716

Balance Sheet Details - Sched_4

Balance Sheet Details - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands	Apr. 02, 2022	Jan. 02, 2022	Jan. 01, 2022
Accrued Liabilities Current [Abstract]
Payroll and related expenses	$ 26,483		$ 32,581
Warranty	9,868		9,093
Other	1,390		1,368
Total accrued liabilities	$ 37,741	$ 43,042	$ 43,042

Balance Sheet Details - Sched_5

Balance Sheet Details - Schedule of Other Current Liabilities (Details) - USD ($) $ in Thousands	Apr. 02, 2022	Jan. 02, 2022	Jan. 01, 2022
Other Liabilities Current [Abstract]
Customer deposits	$ 10,353		$ 9,459
Current operating lease obligations	4,791		3,968
Income tax payable	16,952		6,315
Accrued professional fees	1,360		912
Other	6,263		7,506
Total other current liabilities	$ 39,719	$ 28,160	$ 28,160

Balance Sheet Details - Sched_6

Balance Sheet Details - Schedule of Other Non-Current Liabilities (Details) - USD ($) $ in Thousands	Apr. 02, 2022	Jan. 02, 2022	Jan. 01, 2022
Other Liabilities Noncurrent [Abstract]
Non-current operating lease obligations	$ 16,144		$ 13,754
Unrecognized tax benefits (including interest)	$ 8,028		$ 7,861
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Total other non-current liabilities		Total other non-current liabilities
Deferred revenue	$ 2,137		$ 1,693
Other	5,702		5,643
Total other non-current liabilities	$ 32,011	$ 28,951	$ 28,951

Commitments and Contingencies -

Commitments and Contingencies - Textual (Details)	3 Months Ended
	Apr. 02, 2022USD ($)
Commitments And Contingencies [Line Items]
Sold receivables amount	$ 8,755,000
Due from unrelated third parties	0
Liabilities recorded for obligations	$ 0
Percentage of maximum borrowing capacity of value of eligible securities	70.00%
Available line of credit	$ 128,700,000
Available interest rate on line of credit	2.00%
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. 02, 2022	Mar. 27, 2021
Commitments And Contingencies Disclosure [Abstract]
Balance, beginning of the period	$ 9,682	$ 6,485
Accruals	3,619	2,652
Warranty liability assumed in acquisition		407
Usage	(2,726)	(2,039)
Balance, end of the period	$ 10,575	$ 7,505

Revenue - Schedule of Disaggreg

Revenue - Schedule of Disaggregation of Revenue by Timing of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2022	Mar. 27, 2021
Disaggregation Of Revenue [Line Items]
Total revenue	$ 241,350	$ 169,279
Transferred at Point in Time [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	229,970	161,161
Transferred over Time [Member]
Disaggregation Of Revenue [Line Items]
Total revenue	$ 11,380	$ 8,118

Revenue - Additional Informatio

Revenue - Additional Information (Details) - USD ($) $ in Thousands	Apr. 02, 2022	Jan. 01, 2022
Revenue From Contract With Customer [Abstract]
Long-term deferred revenue	$ 2,137	$ 1,693

Revenue - Schedule of Changes i

Revenue - Schedule of Changes in Deferred Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2022	Mar. 27, 2021
Deferred Revenue Disclosure [Abstract]
Balance, beginning of the period	$ 31,672	$ 15,626
Deferred revenue assumed in acquisition		385
Deferral of revenue	23,500	19,232
Recognition of deferred revenue	(16,573)	(12,814)
Balance, end of the period	$ 38,599	$ 22,429

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Restricted Stock Unit Activity (Details) - Restricted Stock Units (RSUs) [Member]	3 Months Ended
	Apr. 02, 2022$ / sharesshares
Activity for RSUs [Roll Forward]
Number of Shares, Beginning balance (in shares) | shares	765,000
Number of Shares, Granted (in shares) | shares	120,000
Number of Shares, Vested (in shares) | shares	(175,000)
Number of Shares, Forfeited (in shares) | shares	(30,000)
Number of Shares, Ending balance (in shares) | shares	680,000
Weighted Average Grant Date Fair Value for RSUs [Roll Forward]
Weighted Average Grant Date Fair Value, Beginning balance (in dollars per share) | $ / shares	$ 48.25
Weighted Average Grant Date Fair Value, Granted (in dollars per share) | $ / shares	89.15
Weighted Average Grant Date Fair Value, Vested (in dollars per share) | $ / shares	49.56
Weighted Average Grant Date Fair Value, Forfeited (in dollars per share) | $ / shares	51.59
Weighted Average Grant Date Fair Value, Ending balance (in dollars per share) | $ / shares	$ 54.99

Share-Based Compensation - Text

Share-Based Compensation - Textual (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Apr. 02, 2022	Jan. 01, 2022
Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of nonvested shares outstanding	680,000	765,000
Weighted average grant-date fair value per share	$ 54.99	$ 48.25
Total unrecognized compensation cost related to restricted stock units granted	$ 25,196	$ 21,019
Unrecognized compensation cost related to restricted stock units, weighted average period	1 year 4 months 24 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	581,000
Performance Restricted Stock Units (PRSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of nonvested shares outstanding	99,000
Weighted average grant-date fair value per share	$ 85.49	$ 80.04

Other Expense, Net - Schedule o

Other Expense, Net - Schedule of Other Expense, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2022	Mar. 27, 2021
Other Income Expense [Abstract]
Foreign currency exchange losses, net	$ (214)	$ (1,271)
Other	10	27
Total other expense, net	$ (204)	$ (1,244)

Income Taxes - Details of Incom

Income Taxes - Details of Income Tax (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2022	Mar. 27, 2021
Income Tax Disclosure [Abstract]
Income before income taxes	$ 58,917	$ 26,602
Provision for income taxes	$ 5,587	$ 2,489
Effective tax rate	9.00%	9.00%

Income Taxes - Textual (Details

Income Taxes - Textual (Details) - USD ($) $ in Thousands	Apr. 02, 2022	Jan. 01, 2022
Income Tax Disclosure [Abstract]
Deferred tax assets, valuation allowance	$ 10,948	$ 10,948

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. 02, 2022	Mar. 27, 2021
Earnings Per Share [Abstract]
Net income	$ 53,330	$ 24,113
Basic earnings per share - weighted average shares outstanding	49,437	49,000
Employee stock options, employee stock purchase grants and restricted stock units - dilutive shares	478	572
Diluted earnings per share - weighted average shares outstanding	49,915	49,572
Earnings per share:
Basic	$ 1.08	$ 0.49
Diluted	$ 1.07	$ 0.49

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. 02, 2022USD ($)
Accumulated Other Comprehensive Income Loss [Line Items]
Balance	$ 1,426,055
Balance	1,472,321
Accumulated Foreign Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Balance	1,764
Net current period other comprehensive loss	(3,612)
Reclassifications	0
Balance	(1,848)
Accumulated Net Unrealized Losses on Available-for-sale Marketable Securities [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Balance	(448)
Net current period other comprehensive loss	(3,001)
Reclassifications	0
Balance	(3,449)
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Balance	1,316
Net current period other comprehensive loss	(6,613)
Reclassifications	0
Balance	$ (5,297)

Segment Reporting and Geograp_3

Segment Reporting and Geographic Information - Additional Information (Details)	3 Months Ended
	Apr. 02, 2022Segment
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. 02, 2022	Mar. 27, 2021
Segment Reporting Information [Line Items]
Total revenue	$ 241,350	$ 169,279
Sales [Member] | Product [Member]
Segment Reporting Information [Line Items]
Concentration risk, percentage	100.00%	100.00%
Systems and Software [Member]
Segment Reporting Information [Line Items]
Total revenue	$ 209,383	$ 141,509
Systems and Software [Member] | Sales [Member] | Product [Member]
Segment Reporting Information [Line Items]
Concentration risk, percentage	87.00%	84.00%
Parts Revenue [Member]
Segment Reporting Information [Line Items]
Total revenue	$ 19,857	$ 17,418
Parts Revenue [Member] | Sales [Member] | Product [Member]
Segment Reporting Information [Line Items]
Concentration risk, percentage	8.00%	10.00%
Service Revenue [Member]
Segment Reporting Information [Line Items]
Total revenue	$ 12,110	$ 10,352
Service Revenue [Member] | Sales [Member] | Product [Member]
Segment Reporting Information [Line Items]
Concentration risk, percentage	5.00%	6.00%

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. 02, 2022	Mar. 27, 2021
Segment Reporting Information [Line Items]
Total revenue	$ 241,350	$ 169,279
China [Member]
Segment Reporting Information [Line Items]
Total revenue	63,394	25,779
South Korea [Member]
Segment Reporting Information [Line Items]
Total revenue	61,135	50,530
Taiwan [Member]
Segment Reporting Information [Line Items]
Total revenue	53,392	36,293
United States [Member]
Segment Reporting Information [Line Items]
Total revenue	26,801	25,480
Europe [Member]
Segment Reporting Information [Line Items]
Total revenue	18,428	17,385
Southeast Asia [Member]
Segment Reporting Information [Line Items]
Total revenue	9,225	5,947
Japan [Member]
Segment Reporting Information [Line Items]
Total revenue	$ 8,975	$ 7,865

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. 02, 2022	Mar. 27, 2021
SK Hynix Inc. [Member]
Concentration Risk [Line Items]
Customer concentration risk percentage	19.00%	12.00%
Taiwan Semiconductor Manufacturing Co. Ltd. [Member]
Concentration Risk [Line Items]
Customer concentration risk percentage	16.00%	13.00%
Samsung Semiconductor [Member]
Concentration Risk [Line Items]
Customer concentration risk percentage	10.00%	25.00%

Share Repurchase Authorization

Share Repurchase Authorization - Textual (Details) - USD ($)	3 Months Ended
	Apr. 02, 2022	Nov. 30, 2020
Shares Repurchase Authorization [Line Items]
Shares purchased	0
Amount available for future repurchase	$ 100,000,000
Maximum [Member]
Shares Repurchase Authorization [Line Items]
Stock repurchase, authorized amount		$ 100,000,000