Applied Micro Circuits (AMCC) 10-Q 3 Aug 16 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Jun. 30, 2016	Jul. 29, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	APPLIED MICRO CIRCUITS CORP
Entity Central Index Key	711,065
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--03-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		85,366,236

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2016	Mar. 31, 2016	[1]
Current assets:
Cash and cash equivalents	$ 24,225	$ 25,065
Short-term investments	58,086	58,780
Accounts receivable, net	9,163	9,265
Inventories	12,604	16,148
Other current assets	10,906	10,775
Total current assets	114,984	120,033
Property and equipment, net	13,905	13,293
Goodwill	11,425	11,425
Other assets	1,323	1,541
Total assets	141,637	146,292
Current liabilities:
Accounts payable	6,184	8,599
Accrued payroll and other accrued liabilities	4,711	4,115
Veloce accrued liability	6,600	6,608
Other accrued liabilities	11,316	9,793
Deferred revenue	347	346
Total current liabilities	29,158	29,461
Non-current liabilities	1,548	1,793
Total liabilities	30,706	31,254
Commitments and contingencies (Note 6)
Stockholders’ equity:
Preferred stock, $0.01 par value: Authorized shares - 2,000, none issued and outstanding	0	0
Common stock, $0.01 par value: Authorized shares - 375,000 at June 30, 2016 and March 31, 2016; Issued and outstanding shares - 83,359 at June 30, 2016 and 84,590 at March 31, 2016	854	846
Additional paid-in capital	6,065,559	6,059,137
Accumulated other comprehensive loss	(9,551)	(9,553)
Accumulated deficit	(5,945,931)	(5,935,392)
Total stockholders’ equity	110,931	115,038
Total liabilities and stockholders’ equity	$ 141,637	$ 146,292
[1]	The Condensed Consolidated Balance Sheet as of March 31, 2016 has been derived from the audited Consolidated Financial Statements at that date but does not include all disclosures required by generally accepted accounting principles for complete financial statements.

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2016	Mar. 31, 2016
Statement of Financial Position [Abstract]
Preferred stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (shares)	2,000,000	2,000,000
Preferred stock, shares issued (shares)	0	0
Preferred stock, shares outstanding (shares)	0	0
Common stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (shares)	375,000,000	375,000,000
Common stock, shares issued (shares)	85,359,000	84,590,000
Common stock, shares outstanding (shares)	85,359,000	84,590,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Income Statement [Abstract]
Net revenues	$ 41,498	$ 37,813
Cost of revenues	16,029	16,806
Gross profit	25,469	21,007
Operating expenses:
Research and development	27,485	21,617
Selling, general and administrative	8,699	8,764
Restructuring	0	96
Total operating expenses	36,184	30,477
Operating loss	(10,715)	(9,470)
Realized gain on short-term investments and interest income, net	230	1,619
Other income, net	17	25
Loss before income taxes	(10,468)	(7,826)
Income tax provision (benefit)	71	(422)
Net loss	$ (10,539)	$ (7,404)
Basic and diluted net loss per share (in dollars per share)	$ (0.12)	$ (0.09)
Shares used in calculating basic and diluted net loss per share (in shares)	84,980	81,179

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Loss (unaudited) - USD ($) $ in Thousands		3 Months Ended
		Jun. 30, 2016	Jun. 30, 2015
Statement of Comprehensive Income [Abstract]
Net loss		$ (10,539)	$ (7,404)
Other comprehensive loss, net of tax:
Unrealized gain (loss) on investments	[1]	147	(1,653)
Loss on foreign currency translation		(145)	(137)
Other comprehensive loss, net of tax		2	(1,790)
Total comprehensive loss		$ (10,537)	$ (9,194)
[1]	The amounts reclassified from accumulated other comprehensive loss and recorded in realized gain on short-term investments and interest income, net in the Condensed Consolidated Statement of Operations related to the sale of short-term investments were $27,000 and $1.4 million for the three months ended June 30, 2016 and 2015, respectively. Refer to Note 2, Certain Financial Statement Information, to the Condensed Consolidated Financial Statements for additional details.

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Comprehensive Loss (unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Statement of Comprehensive Income [Abstract]
Reclassification adjustment from AOCI to earnings, short term investments	$ 27	$ 1,400

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2016		Jun. 30, 2015
Adjustments to reconcile net loss to net cash provided by operating activities:
Net loss	$ (10,539)		$ (7,404)
Depreciation	1,570		1,838
Amortization of bond premium	226		0
Stock-based compensation expense	8,165		6,092
Gain on short-term investments and other, net	(26)		(1,455)
Tax effect on other comprehensive loss	(94)		0
Changes in operating assets and liabilities:
Accounts receivable	102		882
Inventories	3,552		3,723
Other assets	(70)		2,464
Accounts payable	(2,382)		(3,453)
Accrued payroll and other accrued liabilities	1,077		220
Veloce accrued liability	(8)		(65)
Deferred revenue	1		7
Net cash provided by operating activities	1,574		2,849
Investing activities:
Proceeds from sales and maturities of short-term investments	18,461		7,444
Purchases of short-term investments	(17,739)		(1,129)
Proceeds from sale of property and equipment	2		25
Purchases of property and equipment	(2,547)		(315)
Net cash provided by (used for) investing activities	(1,823)		6,025
Financing activities:
Proceeds from issuance of common stock	32		133
Funding of restricted stock units withheld for taxes and other	(623)		(1,212)
Net cash used for financing activities	(591)		(1,079)
Net increase (decrease) in cash and cash equivalents	(840)		7,795
Cash and cash equivalents at beginning of period	25,065	[1]	36,495
Cash and cash equivalents at end of period	24,225		44,290
Supplementary cash flow disclosures:
Cash paid for income taxes	167		145
Common stock issued for Veloce merger consideration	$ 0		$ 921
[1]	The Condensed Consolidated Balance Sheet as of March 31, 2016 has been derived from the audited Consolidated Financial Statements at that date but does not include all disclosures required by generally accepted accounting principles for complete financial statements.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Overview Applied Micro Circuits Corporation (the "Company") is a global leader in silicon solutions for next-generation cloud infrastructure and data centers, as well as connectivity products for edge, metro and long-haul communications equipment. Basis of Presentation The Condensed Consolidated Financial Statements include all the accounts of the Company's and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The Company prepared the accompanying unaudited Condensed Consolidated Financial Statements pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). In management’s opinion, the unaudited Condensed Consolidated Financial Statements reflect all adjustments (consisting only of normal recurring adjustments) necessary to fairly present the Company's financial position, results of operations and cash flows. Interim period operating results do not necessarily indicate the results that may be expected for any other interim period or for the full fiscal year. These financial statements and accompanying notes should be read in conjunction with the Consolidated Financial Statements and notes thereto in the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2016. Use of Estimates The preparation of financial statements in accordance with U.S. generally accepted accounting principles ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of net revenue and expenses in the reporting period. The Company regularly evaluates estimates and assumptions related to its: • capitalized mask sets including their useful lives, which affect cost of goods sold and property and equipment or Research and Development ("R&D") expenses, if not capitalized; • inventory valuation, warranty liabilities and revenue reserves, which affect cost of sales, gross margin, and revenues; • allowance for doubtful accounts, which affects operating expenses; • unrealized losses or other-than-temporary impairments of short-term investments available for sale, which affect interest income (expense), net; • valuation of other long-lived assets and goodwill, which affects depreciation and impairment of long-lived assets, impairment of goodwill and apportionment of goodwill related to divestitures; • potential costs of litigation, which affect operating expenses; • valuation of deferred income taxes, which affects income tax expense (benefit); and • stock-based compensation, which affects gross margin and operating expenses. The Company bases its estimates and assumptions on historical experience and on various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from management’s estimates. To the extent there are material differences between the estimates and actual results, future results of operations will be affected. Risks and Uncertainties The Company's future results of operations involve a number of risks and uncertainties. Factors that could affect the Company's business or future results and cause actual results to vary materially from historical results include, but are not limited to, the highly cyclical nature of the semiconductor industry; high fixed costs; declines in average selling prices; ability to fund liquidity needs; failure to maintain an effective system of internal controls; product return and liability risks; absence of significant backlog; dependence on international operations and sales; proposed changes to United States tax laws which result in adverse tax consequences; inadequate management information systems; ability to attract and retain qualified employees; difficulties consolidating and evolving the operational capabilities; dependence on materials and equipment suppliers; loss of customers; development of new proprietary technology and the enforcement of intellectual property ("IP") rights by or against the Company; the complexity of packaging and test processes; competition; existing and future environmental regulations; and fire, flood or other calamities affecting the Company or others with whom it does business. The Company's cash, cash equivalents, short-term investments and accounts receivable are potentially subject to concentration of credit risk. Cash and cash equivalents may be redeemable upon demand and are maintained with several financial institutions that management believes are of high credit quality and therefore bear minimal credit risk. The Company's accounts receivables are derived from revenue earned from customers located around the world. Two customers accounted for 80% and 69% of accounts receivable at June 30, 2016 and March 31, 2016 , respectively. This concentration and the concentration of credit risk resulting from trade receivables is substantially mitigated by the credit evaluation process and collateral. The Company sells its products primarily through direct sales force and distributors. Based on direct shipments, 2 and 4 customers individually accounted for at least 10% of total net revenues during the three months ended June 30, 2016 and 2015 , respectively. The Company expects that its largest customers collectively will continue to account for a substantial portion of its net revenue for the foreseeable future. See Note 7, Significant Customer and Geographic Information, to the Condensed Consolidated Financial Statements for details. The Company currently purchases wafers from a limited number of vendors. Additionally, since the Company does not maintain manufacturing facilities, it depends upon close relationships with contract manufacturers to assemble its products. The Company anticipates the continued use of a limited number of vendors and contract manufacturers in the near future. Under the Company's fabless business model, long-term revenue growth is dependent on its ability to obtain sufficient external manufacturing capacity, including wafer production. The Company believes there are other vendors that can provide the same quality wafers at competitive prices and other contract manufacturers that can provide comparable services at competitive prices. New Accounting Pronouncements In March 2016, the FASB issued ASU No. 2016-09, "Stock Compensation (Topic 718); Improvements to Employee Share-Based Payment Accounting". The new guidance simplifies several aspects of the accounting for share-based payment transactions including the income tax consequences, classification of awards as either equity or liabilities, policy election to account for forfeitures as they occur rather than on an estimated basis, and classification on the statement of cash flows. The ASU is effective for annual periods beginning after December 15, 2016, including interim periods within that reporting period. Early adoption is permitted. The Company has adopted this ASU as of June 30, 2016. The adoption of this accounting standard was not material to the Company’s Condensed Consolidated Financial Statements and related disclosures.

Certain Financial Statement Inf

Certain Financial Statement Information	3 Months Ended
	Jun. 30, 2016
Certain Financial Statement Information [Abstract]
CERTAIN FINANCIAL STATEMENT INFORMATION	CERTAIN FINANCIAL STATEMENT INFORMATION Accounts receivable, net: June 30, March 31, (In thousands) Accounts receivable $ 9,426 $ 9,527 Less: allowance for bad debts (263 ) (262 ) $ 9,163 $ 9,265 Inventories: June 30, March 31, (In thousands) Finished goods $ 4,782 $ 8,206 Work in process 4,836 5,854 Raw materials 2,986 2,088 $ 12,604 $ 16,148 Other current assets: June 30, March 31, (In thousands) Prepaid expenses $ 8,988 $ 8,887 Executive deferred compensation assets 837 817 Other 1,081 1,071 $ 10,906 $ 10,775 Property and equipment: Useful Life June 30, March 31, (In years) (In thousands) Machinery and equipment 3-5 $ 39,632 $ 36,723 Leasehold improvements 1-5 7,528 7,529 Computers, office furniture and equipment 3-5 33,294 34,016 80,454 78,268 Less: accumulated depreciation (66,549 ) (64,975 ) $ 13,905 $ 13,293 Other accrued liabilities: June 30, March 31, (In thousands) Employee related liabilities $ 1,563 $ 1,362 Executive deferred compensation 871 848 Accrued bonus 3,921 3,269 Other 4,961 4,314 $ 11,316 $ 9,793 Short-term investments: The following is a summary of cash, cash equivalents and available-for-sale investments by type of instrument (in thousands): June 30, 2016 March 31, 2016 Amortized Cost Gross Unrealized Estimated Fair Value Amortized Cost Gross Unrealized Estimated Fair Value Gains Losses Gains Losses Cash $ 21,219 $ — $ — $ 21,219 $ 23,510 $ — $ — $ 23,510 Cash equivalents 3,006 — — 3,006 1,555 — — 1,555 U.S. Treasury and agency securities 14,173 74 — 14,247 14,863 38 (3 ) 14,898 Corporate bonds 24,861 338 — 25,199 28,047 221 (5 ) 28,263 Asset-backed and mortgage-backed securities 16,701 65 (18 ) 16,748 13,565 13 (27 ) 13,551 Municipal bonds 1,877 15 — 1,892 2,052 16 — 2,068 $ 81,837 $ 492 $ (18 ) $ 82,311 $ 83,592 $ 288 $ (35 ) $ 83,845 Reported as: Cash and cash equivalents $ 24,225 $ 25,065 Short-term investments available-for-sale 58,086 58,780 $ 82,311 $ 83,845 The established guidelines for measuring fair value and expanded disclosures regarding fair value measurements are defined as a three-level valuation hierarchy for disclosure of fair value measurements as follows: Level 1 — Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date. Level 2 — Inputs (other than quoted market prices included in Level 1) are either directly or indirectly observable for the asset or liability through correlation with market data at the measurement date and for the duration of the instrument’s anticipated life. Level 3 — Inputs reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the risk inherent in the inputs to the model. Valuation of instruments includes unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of assets or liabilities. The following is a summary of cash, cash equivalents and available-for-sale investments by type of instrument measured at fair value on a recurring basis (in thousands): June 30, 2016 March 31, 2016 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Cash $ 21,219 $ — $ — $ 21,219 $ 23,510 $ — $ — $ 23,510 Cash equivalents 3,006 — — 3,006 1,555 — — 1,555 U.S. Treasury and agency securities 14,247 — — 14,247 14,898 — — 14,898 Corporate bonds — 25,199 — 25,199 — 28,263 — 28,263 Asset-backed and mortgage-backed securities — 16,748 — 16,748 — 13,551 — 13,551 Municipal bonds — 1,892 — 1,892 — 2,068 — 2,068 $ 38,472 $ 43,839 $ — $ 82,311 $ 39,963 $ 43,882 $ — $ 83,845 There were no significant transfers in and out of Level 1 and Level 2 fair value measurement categories during the three months ended June 30, 2016 and 2015 . The following is a summary of the cost and estimated fair values of available-for-sale securities with stated maturities, which include U.S. Treasury and agency securities, corporate bonds, asset-backed and mortgage-backed securities and municipal bonds, by contractual maturity: June 30, 2016 Cost Estimated Fair Value (In thousands) Less than 1 year $ 13,471 $ 13,471 Mature in 1 – 2 years 34,118 34,386 Mature in 3 – 5 years 8,823 9,023 Mature after 5 years 1,200 1,206 $ 57,612 $ 58,086 The following is a summary of gross unrealized losses (in thousands): As of June 30, 2016 Less Than 12 Months of Unrealized Losses 12 Months or More of Unrealized Losses Total Estimated Fair Value Gross Unrealized Losses Estimated Fair Value Gross Unrealized Losses Estimated Fair Value Gross Unrealized Losses Asset-backed and mortgage-backed securities $ 4,681 $ (18 ) $ — $ — $ 4,681 $ (18 ) As of March 31, 2016 Less Than 12 Months of Unrealized Losses 12 Months or More of Unrealized Losses Total Estimated Fair Value Gross Unrealized Losses Estimated Fair Value Gross Unrealized Losses Estimated Fair Value Gross Unrealized Losses U.S. Treasury and agency securities $ 9,396 $ (3 ) $ — $ — $ 9,396 $ (3 ) Corporate bonds 4,601 (5 ) — — 4,601 (5 ) Asset-backed and mortgage-backed securities 8,394 (27 ) — — 8,394 (27 ) $ 22,391 $ (35 ) $ — $ — $ 22,391 $ (35 ) Accumulated other comprehensive loss: Foreign currency translation adjustments Unrealized gain (loss) on short-term investments Total (In thousands) Balance as of March 31, 2016 $ (2,486 ) $ (7,067 ) $ (9,553 ) Other comprehensive gain (loss), net of tax (145 ) 147 2 Balance as of June 30, 2016 $ (2,631 ) $ (6,920 ) $ (9,551 ) Realized gain on short-term investments and interest income, net: Three Months Ended June 30, 2016 2015 (In thousands) Net realized gain on short-term investments $ 32 $ 1,430 Interest income, net 198 189 $ 230 $ 1,619 Net loss per share: Shares used in basic net loss per share are computed using the weighted average number of common shares outstanding during each period. Shares used in diluted net loss per share include the dilutive effect of common shares potentially issuable upon the exercise of stock options, purchase of Employee Stock Purchase Plan ("ESPP") rights and vesting of restricted stock units ("RSUs"). For the three months ended June 30, 2016 and 2015 , the Company recorded a net loss. As such, all outstanding potential common shares were excluded from the diluted earnings per share computation. The following potentially dilutive common shares are excluded from the computation of net loss per share: June 30, June 30, (In thousands) Outstanding stock options 1,384 1,713 Outstanding RSUs 5,420 3,997 ESPP shares 383 249 7,187 5,959

Veloce

Veloce	3 Months Ended
	Jun. 30, 2016
Business Combinations [Abstract]
VELOCE	VELOCE In June 2012, the Company completed the acquisition of Veloce Technologies, Inc. ("Veloce") which developed specific ARM-based technology for the Company. The total purchase consideration for Veloce was $178.5 million , the payment of which has been subject to the completion of certain development milestones and vesting requirements. For accounting purposes, the costs incurred in connection with the development milestones relating to Veloce were considered compensatory and recognized as R&D expense in the Condensed Consolidated Statement of Operations. Veloce completed the milestones as of March 31, 2014 and the total consideration of $178.5 million has been recognized as R&D expense as of March 31, 2015. The following table summarizes the cash payment and stock issuance activities as part of the above arrangement: Three Months Ended June 30, 2016 2015 (In thousands) Cash payments $ 8 $ 65 Value of common stock issued — 921 Total payments $ 8 $ 986 Shares of common stock issued — 163 As of June 30, 2016 , $171.9 million of the total Veloce consideration has been paid in cash and stock and the Company expects the remaining $6.6 million will be paid in cash and stock by September 30, 2016. The $171.9 million paid to date includes $89.4 million in cash and the issuance of 11.2 million shares of common stock valued at $82.5 million .

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Jun. 30, 2016
Equity [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS’ EQUITY Stock Options The Company has granted stock options to employees and non-employee directors under several plans. These option plans include two stockholder-approved plans (1992 Equity Incentive Plan and 2011 Equity Incentive Plan) and one plan not approved by stockholders (2000 Equity Incentive Plan). Options are fully vested generally in four years and expire eight to ten years from the effective date of grant. A summary of the Company's stock option activities and related information is as follows: Number of Shares (thousands) Weighted Average Exercise Price Per Share Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (millions) Outstanding as of March 31, 2016 1,571 $ 8.92 Granted — — Exercised (6 ) $ 5.23 — (1 ) Cancelled (181 ) $ 11.56 Outstanding, vested and exercisable as of June 30, 2016 1,384 $ 8.59 0.9 $ — (2 ) (1) The aggregate pre-tax intrinsic value is calculated as the difference between the market value on the date of exercise and the exercise price of the shares. (2) The aggregate pre-tax intrinsic value is calculated as the difference between the market value as of June 30, 2016 and the exercise price of the shares. The closing price of the Company’s common stock was $6.42 per share on June 30, 2016 . Restricted Stock Units The Company has granted RSUs to employees and non-employee directors pursuant to its 2011 Equity Incentive Plan. RSUs are share awards that, upon vesting, will deliver to the holder shares of the Company’s common stock. RSUs vest over varying terms, to a maximum of four years from the date of the grant. In November 2013, May and October 2014, November 2015, and January and May 2016, the Compensation Committee (the "Committee") authorized market-performance based RSUs ("MSUs"). The MSUs will be earned, if at all, based on the Company's Total Shareholder Return (“TSR”) compared to that of the Standard & Poor's Depositary Receipts S&P Semiconductor Index ("Index”) over a two -year performance period for half of the MSU award and a three -year performance period for the remaining half of the MSU award. The MSUs will vest between ranges of 0% and 150% or 0% and 175% based on the Company's relative TSR compared to the Index. Total grant-date fair value of these MSUs was $4.7 million , of which $2.9 million expired unvested as of June 30, 2016 . The Company has compensation programs with respect to fiscal 2016 and 2017. The programs include time-based RSUs and financial or operational performance-based awards with payouts that ranges from 0% to 150% of pre-established target levels. Awards under these programs vest in fiscal 2016 through 2018 and can be paid out in common stock or cash. A summary of the Company's RSU activities and related information is as follows: Number of Shares (thousands) Weighted Average Grant Date Fair Value Unvested as of March 31, 2016 4,704 $ 6.59 Awarded 1,758 $ 6.06 Vested (863 ) $ 7.05 Cancelled (179 ) $ 5.41 Unvested as of June 30, 2016 5,420 $ 6.38 The weighted average remaining contractual term for the RSUs outstanding as of June 30, 2016 was 1.3 years. As of June 30, 2016 , the aggregate pre-tax intrinsic value of RSUs outstanding including performance-based awards which are subject to certain milestone attainments was $34.8 million . The aggregate pretax intrinsic value was calculated based on the closing price of the Company’s common stock of $6.42 on June 30, 2016 . The aggregate pre-tax intrinsic value of RSUs released during the three months ended June 30, 2016 was $5.4 million . This intrinsic value represents the fair market value of the Company’s common stock on the date of release. Employee Stock Purchase Plan Under the Company's 2012 ESPP, the Company reserved 3.8 million shares for issuance. The ESPP provides that eligible employees may contribute up to 20% of their base salary, subject to certain limits, towards the purchase of the Company’s common stock. Under the terms of the ESPP, eligible employees are entitled to purchase common stock, on a semi-annual basis, at a purchase price equal to 85% of the fair market value of the common stock on the first or last day of the offering period, whichever is lower. At June 30, 2016 , 1.2 million shares were available for future issuance under the ESPP. There were no stock purchases under the ESPP during the three months ended June 30, 2016 and 2015 .

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION The following tables summarize the allocation of the stock-based compensation expense: Stock-based compensation expense by type of grant: Three Months Ended June 30, 2016 2015 (In thousands) Employee stock purchase rights $ 327 $ 207 RSUs 7,847 5,897 8,174 6,104 Stock-based compensation capitalized to inventory (9 ) (12 ) Total $ 8,165 $ 6,092 Stock-based compensation expense by cost centers: Three Months Ended June 30, 2016 2015 (In thousands) Cost of revenues $ 167 $ 105 Research and development 5,993 4,060 Selling, general and administrative 2,014 1,939 8,174 6,104 Stock-based compensation capitalized to inventory (9 ) (12 ) Total $ 8,165 $ 6,092 As of June 30, 2016 , the amount of unrecognized stock-based compensation cost related to unvested stock-based awards was $32.4 million which will be recognized over a weighted average period of 1.3 years .

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Commitments The following table summarizes the Company's contractual operating leases and other purchase commitments as of June 30, 2016 (in thousands): Fiscal Years Ending March 31, Operating Leases Purchase Commitments * Total 2017 (remainder of year) $ 1,849 $ 21,465 $ 23,314 2018 871 11,194 12,065 2019 503 378 881 Total $ 3,223 $ 33,037 $ 36,260 * Includes open purchase orders with terms that generally allow us the option to cancel or reschedule the order, subject to various restrictions and limitations. Also includes the licensing fees relating to the Company's R&D efforts, including IP, technology, product design, test and verification tools of $18.3 million . Warranty The Company's products typically carry a one -year warranty. The Company establishes reserves for estimated product warranty costs at the time revenue is recognized. Although the Company engages in extensive product quality programs and processes, its warranty obligation is affected by product failure rates, use of materials, and service delivery costs incurred in correcting any product failure. Historically, the Company’s warranty returns have not been material. Intellectual Property Indemnities The Company indemnifies certain customers and contract manufacturers against liability arising from third-party claims of IP rights infringement related to its products. These indemnities appear in development and supply agreements with customers as well as manufacturing service agreements with contract manufacturers and generally survive the expiration of the contract. Given that the amount of any potential liabilities related to such indemnities cannot be determined until an infringement claim has been made, the Company is unable to determine the maximum amount of losses that could be incurred related to such indemnifications. Guarantees and Indemnities In the normal course of business, the Company is occasionally required to provide other guarantees and indemnities for which it may be required to make future payments under specific circumstances. The amount of any potential liabilities related to such obligations cannot be accurately determined until a formal claim is filed. The Company maintains general and product liability insurance which may provide a source of recovery in the event of an indemnification claim. Legal Proceedings The Company is currently a party to certain legal proceedings, including those noted in this section. The Company believes the ultimate outcome of these proceedings, individually and in the aggregate, will not materially harm the Company's financial position, results of operations or cash flows. Notwithstanding the foregoing, legal proceedings are subject to inherent uncertainties, unfavorable rulings or other events that could occur. In addition, legal proceedings are expensive to prosecute and defend against and can divert management attention and Company resources away from the Company's business objectives. Unfavorable resolutions could include monetary damages against the Company or injunctions or other restrictions on the conduct of the Company’s business, or preclude the Company from recovering the damages it seeks in legal proceedings it has commenced. It is also possible that the Company could conclude it is in the best interests of its stockholders, employees, and customers to settle one or more such matters, and any such settlement could include substantial payments or the surrender of rights to collect payments from third parties. However, the Company has not reached this conclusion with respect to any material matter at this time. In 1993, the Company was named as a Potentially Responsible Party (“PRP”) along with more than 100 other companies that used an Omega Chemical Corporation waste treatment facility in Whittier, California (the “Omega Site”). The U.S. Environmental Protection Agency (“EPA”) has alleged that Omega failed to properly treat and dispose of certain hazardous waste materials at the Omega Site. The Company is a member of a large group of PRPs, known as the Omega Chemical Site PRP Organized Group (“OPOG”), which has agreed to fund certain on-going remediation efforts relating to the Omega Site. Pursuant to a consent decree entered into between EPA and OPOG and approved by the U.S. District Court for the Central District of California (the “Court”) in 2001, as amended in 2010, removal of waste materials stored at the Omega Site has been completed. Efforts to remediate the soil, groundwater and air quality at and around the Omega Site are expected to be ongoing for several more years. In addition, in April 2016 OPOG and EPA filed with the Court a consent decree (the “Consent Decree”) outlining the proposed remediation plan and related litigation settlement terms for a regional groundwater contamination plume allegedly originating at the Omega Site (the Operable Unit 2 or “OU2”). It is anticipated the Court will approve the Consent Decree in fiscal year 2017, following which remediation of OU2 will commence. It is also anticipated that the Court’s approval of the Consent Decree will cause it to lift the stay it had previously placed on litigation originally filed in 2007 by Angeles Chemical Company, located downstream from the Omega Site, against OPOG and the PRPs for cost recovery and indemnification for future costs allegedly resulting from OU2. In 2012, as a result of challenges made by certain PRPs to the criteria previously used to allocate liability among OPOG members, and of the departure of certain PRPs from OPOG, OPOG approved changes to the cost allocation structure that resulted in an increase to the Company's proportional allocation of liability. In 2013 and 2014, OPOG retained legal counsel to pursue groundwater remediation-related claims against other PRPs and to protect its interests in connection with bankruptcy proceedings filed by an OPOG member. In connection with those cost recovery efforts, in May 2014, OPOG entered into a cost sharing and settlement agreement (as amended in April 2016 in connection with the Consent Decree) with one PRP for future remediation costs and settlement of EPA’s past costs for OU2. To fund the shared costs, OPOG and the other PRP will create a Joint Environmental Remediation Trust, for which OPOG’s contribution amount will be funded from member assessments made in 2016. Any additional changes made to OPOG’s cost allocation structure, as well as the subsequent departure or bankruptcy of one or more other PRPs from OPOG, could have the effect of increasing the proportional liability of the remaining PRPs, including the Company. To date, the Company has remitted payments to OPOG covering its proportional allocation of liability for OPOG’s legal expenses and remediation costs; the Company's assessments received during fiscal year 2016 totaled approximately $62,000 . The Company anticipates that its payment obligations relating to the Omega Site will increase once the Consent Decree receives final Court approval, although the timing of any such increases currently is uncertain. Notwithstanding such anticipated increases or their timing, the Company does not currently believe its total share of remediation-related expenses will be material to its financial statements, based on its approximately 0.5% contribution to the total waste tonnage sent to the site and current estimates of the potential aggregate remediation costs. Based on currently available information, the Company has a loss accrual that is not material and believe that the actual amount of our costs will not be materially different from the amount accrued. However, proceedings are ongoing and the eventual outcome of the clean-up efforts and the pending litigation matters is uncertain at this time. Based on currently available information, the Company does not believes that any eventual outcome will have a material adverse effect on its business or operations.

Significant Customer and Geogra

Significant Customer and Geographic Information	3 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Significant Customer and Geographic Information	SIGNIFICANT CUSTOMER AND GEOGRAPHIC INFORMATION Based on direct shipments, net revenues to customers that were equal to or greater than 10% of total net revenues were as follows: Three Months Ended June 30, 2016 2015 Wintec (global logistics provider)** 26 % 29 % Avnet (distributor) 32 % 25 % Arrow (distributor) * 11 % Flextronics (contract manufacturer) * 11 % * Less than 10% of total net revenues for period indicated. ** Wintec provides vendor managed inventory support primarily for Cisco Systems, Inc. Based on ship to location, net revenues by geographic region were as follows: Three Months Ended June 30, 2016 2015 (In thousands) United States of America $ 18,239 $ 18,044 Taiwan 2,649 1,314 Hong Kong 9,343 5,971 Europe 5,891 7,392 Japan 3,846 3,813 Other 1,530 1,279 $ 41,498 $ 37,813 As of June 30, 2016 and 2015 , long-lived assets, which represent property, plant and equipment, goodwill and intangible assets, net of accumulated depreciation and amortization, located outside the Americas were not material.

Summary of Significant Accoun15

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Condensed Consolidated Financial Statements include all the accounts of the Company's and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The Company prepared the accompanying unaudited Condensed Consolidated Financial Statements pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). In management’s opinion, the unaudited Condensed Consolidated Financial Statements reflect all adjustments (consisting only of normal recurring adjustments) necessary to fairly present the Company's financial position, results of operations and cash flows. Interim period operating results do not necessarily indicate the results that may be expected for any other interim period or for the full fiscal year. These financial statements and accompanying notes should be read in conjunction with the Consolidated Financial Statements and notes thereto in the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2016.
Use of Estimates	Use of Estimates The preparation of financial statements in accordance with U.S. generally accepted accounting principles ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of net revenue and expenses in the reporting period. The Company regularly evaluates estimates and assumptions related to its: • capitalized mask sets including their useful lives, which affect cost of goods sold and property and equipment or Research and Development ("R&D") expenses, if not capitalized; • inventory valuation, warranty liabilities and revenue reserves, which affect cost of sales, gross margin, and revenues; • allowance for doubtful accounts, which affects operating expenses; • unrealized losses or other-than-temporary impairments of short-term investments available for sale, which affect interest income (expense), net; • valuation of other long-lived assets and goodwill, which affects depreciation and impairment of long-lived assets, impairment of goodwill and apportionment of goodwill related to divestitures; • potential costs of litigation, which affect operating expenses; • valuation of deferred income taxes, which affects income tax expense (benefit); and • stock-based compensation, which affects gross margin and operating expenses. The Company bases its estimates and assumptions on historical experience and on various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from management’s estimates. To the extent there are material differences between the estimates and actual results, future results of operations will be affected.
Risk and Uncertainties	Risks and Uncertainties The Company's future results of operations involve a number of risks and uncertainties. Factors that could affect the Company's business or future results and cause actual results to vary materially from historical results include, but are not limited to, the highly cyclical nature of the semiconductor industry; high fixed costs; declines in average selling prices; ability to fund liquidity needs; failure to maintain an effective system of internal controls; product return and liability risks; absence of significant backlog; dependence on international operations and sales; proposed changes to United States tax laws which result in adverse tax consequences; inadequate management information systems; ability to attract and retain qualified employees; difficulties consolidating and evolving the operational capabilities; dependence on materials and equipment suppliers; loss of customers; development of new proprietary technology and the enforcement of intellectual property ("IP") rights by or against the Company; the complexity of packaging and test processes; competition; existing and future environmental regulations; and fire, flood or other calamities affecting the Company or others with whom it does business. The Company's cash, cash equivalents, short-term investments and accounts receivable are potentially subject to concentration of credit risk. Cash and cash equivalents may be redeemable upon demand and are maintained with several financial institutions that management believes are of high credit quality and therefore bear minimal credit risk. The Company's accounts receivables are derived from revenue earned from customers located around the world. Two customers accounted for 80% and 69% of accounts receivable at June 30, 2016 and March 31, 2016 , respectively. This concentration and the concentration of credit risk resulting from trade receivables is substantially mitigated by the credit evaluation process and collateral. The Company sells its products primarily through direct sales force and distributors. Based on direct shipments, 2 and 4 customers individually accounted for at least 10% of total net revenues during the three months ended June 30, 2016 and 2015 , respectively. The Company expects that its largest customers collectively will continue to account for a substantial portion of its net revenue for the foreseeable future. See Note 7, Significant Customer and Geographic Information, to the Condensed Consolidated Financial Statements for details. The Company currently purchases wafers from a limited number of vendors. Additionally, since the Company does not maintain manufacturing facilities, it depends upon close relationships with contract manufacturers to assemble its products. The Company anticipates the continued use of a limited number of vendors and contract manufacturers in the near future. Under the Company's fabless business model, long-term revenue growth is dependent on its ability to obtain sufficient external manufacturing capacity, including wafer production. The Company believes there are other vendors that can provide the same quality wafers at competitive prices and other contract manufacturers that can provide comparable services at competitive prices. N
New Accounting Pronouncements	New Accounting Pronouncements In March 2016, the FASB issued ASU No. 2016-09, "Stock Compensation (Topic 718); Improvements to Employee Share-Based Payment Accounting". The new guidance simplifies several aspects of the accounting for share-based payment transactions including the income tax consequences, classification of awards as either equity or liabilities, policy election to account for forfeitures as they occur rather than on an estimated basis, and classification on the statement of cash flows. The ASU is effective for annual periods beginning after December 15, 2016, including interim periods within that reporting period. Early adoption is permitted. The Company has adopted this ASU as of June 30, 2016. The adoption of this accounting standard was not material to the Company’s Condensed Consolidated Financial Statements and related disclosures.
Warrant, Intellectual Property Indemnities, Guarantees and Indemnities	Warranty The Company's products typically carry a one -year warranty. The Company establishes reserves for estimated product warranty costs at the time revenue is recognized. Although the Company engages in extensive product quality programs and processes, its warranty obligation is affected by product failure rates, use of materials, and service delivery costs incurred in correcting any product failure. Historically, the Company’s warranty returns have not been material. Intellectual Property Indemnities The Company indemnifies certain customers and contract manufacturers against liability arising from third-party claims of IP rights infringement related to its products. These indemnities appear in development and supply agreements with customers as well as manufacturing service agreements with contract manufacturers and generally survive the expiration of the contract. Given that the amount of any potential liabilities related to such indemnities cannot be determined until an infringement claim has been made, the Company is unable to determine the maximum amount of losses that could be incurred related to such indemnifications. Guarantees and Indemnities In the normal course of business, the Company is occasionally required to provide other guarantees and indemnities for which it may be required to make future payments under specific circumstances. The amount of any potential liabilities related to such obligations cannot be accurately determined until a formal claim is filed. The Company maintains general and product liability insurance which may provide a source of recovery in the event of an indemnification claim.

Certain Financial Statement I16

Certain Financial Statement Information (Tables)	3 Months Ended
	Jun. 30, 2016
Certain Financial Statement Information [Abstract]
Schedule of Accounts receivable	Accounts receivable, net: June 30, March 31, (In thousands) Accounts receivable $ 9,426 $ 9,527 Less: allowance for bad debts (263 ) (262 ) $ 9,163 $ 9,265
Schedule of Inventories	Inventories: June 30, March 31, (In thousands) Finished goods $ 4,782 $ 8,206 Work in process 4,836 5,854 Raw materials 2,986 2,088 $ 12,604 $ 16,148
Schedule of Other current assets	Other current assets: June 30, March 31, (In thousands) Prepaid expenses $ 8,988 $ 8,887 Executive deferred compensation assets 837 817 Other 1,081 1,071 $ 10,906 $ 10,775
Schedule of Property and equipment	Property and equipment: Useful Life June 30, March 31, (In years) (In thousands) Machinery and equipment 3-5 $ 39,632 $ 36,723 Leasehold improvements 1-5 7,528 7,529 Computers, office furniture and equipment 3-5 33,294 34,016 80,454 78,268 Less: accumulated depreciation (66,549 ) (64,975 ) $ 13,905 $ 13,293
Schedule of Other accrued liabilities	Other accrued liabilities: June 30, March 31, (In thousands) Employee related liabilities $ 1,563 $ 1,362 Executive deferred compensation 871 848 Accrued bonus 3,921 3,269 Other 4,961 4,314 $ 11,316 $ 9,793
Schedule of Cash, cash equivalents and available-for-sale investments by type of instruments	Short-term investments: The following is a summary of cash, cash equivalents and available-for-sale investments by type of instrument (in thousands): June 30, 2016 March 31, 2016 Amortized Cost Gross Unrealized Estimated Fair Value Amortized Cost Gross Unrealized Estimated Fair Value Gains Losses Gains Losses Cash $ 21,219 $ — $ — $ 21,219 $ 23,510 $ — $ — $ 23,510 Cash equivalents 3,006 — — 3,006 1,555 — — 1,555 U.S. Treasury and agency securities 14,173 74 — 14,247 14,863 38 (3 ) 14,898 Corporate bonds 24,861 338 — 25,199 28,047 221 (5 ) 28,263 Asset-backed and mortgage-backed securities 16,701 65 (18 ) 16,748 13,565 13 (27 ) 13,551 Municipal bonds 1,877 15 — 1,892 2,052 16 — 2,068 $ 81,837 $ 492 $ (18 ) $ 82,311 $ 83,592 $ 288 $ (35 ) $ 83,845 Reported as: Cash and cash equivalents $ 24,225 $ 25,065 Short-term investments available-for-sale 58,086 58,780 $ 82,311 $ 83,845
Schedule of Cash, cash equivalents and available-for-sale investments by type of instruments measured at fair value on recurring basis	The following is a summary of cash, cash equivalents and available-for-sale investments by type of instrument measured at fair value on a recurring basis (in thousands): June 30, 2016 March 31, 2016 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Cash $ 21,219 $ — $ — $ 21,219 $ 23,510 $ — $ — $ 23,510 Cash equivalents 3,006 — — 3,006 1,555 — — 1,555 U.S. Treasury and agency securities 14,247 — — 14,247 14,898 — — 14,898 Corporate bonds — 25,199 — 25,199 — 28,263 — 28,263 Asset-backed and mortgage-backed securities — 16,748 — 16,748 — 13,551 — 13,551 Municipal bonds — 1,892 — 1,892 — 2,068 — 2,068 $ 38,472 $ 43,839 $ — $ 82,311 $ 39,963 $ 43,882 $ — $ 83,845
Schedule of Cost and estimated fair values of available-for-sale securities with stated maturities by contractual maturity	The following is a summary of the cost and estimated fair values of available-for-sale securities with stated maturities, which include U.S. Treasury and agency securities, corporate bonds, asset-backed and mortgage-backed securities and municipal bonds, by contractual maturity: June 30, 2016 Cost Estimated Fair Value (In thousands) Less than 1 year $ 13,471 $ 13,471 Mature in 1 – 2 years 34,118 34,386 Mature in 3 – 5 years 8,823 9,023 Mature after 5 years 1,200 1,206 $ 57,612 $ 58,086
Schedule of Gross unrealized losses	The following is a summary of gross unrealized losses (in thousands): As of June 30, 2016 Less Than 12 Months of Unrealized Losses 12 Months or More of Unrealized Losses Total Estimated Fair Value Gross Unrealized Losses Estimated Fair Value Gross Unrealized Losses Estimated Fair Value Gross Unrealized Losses Asset-backed and mortgage-backed securities $ 4,681 $ (18 ) $ — $ — $ 4,681 $ (18 ) As of March 31, 2016 Less Than 12 Months of Unrealized Losses 12 Months or More of Unrealized Losses Total Estimated Fair Value Gross Unrealized Losses Estimated Fair Value Gross Unrealized Losses Estimated Fair Value Gross Unrealized Losses U.S. Treasury and agency securities $ 9,396 $ (3 ) $ — $ — $ 9,396 $ (3 ) Corporate bonds 4,601 (5 ) — — 4,601 (5 ) Asset-backed and mortgage-backed securities 8,394 (27 ) — — 8,394 (27 ) $ 22,391 $ (35 ) $ — $ — $ 22,391 $ (35 )
Schedule of Accumulated other comprehensive loss	Accumulated other comprehensive loss: Foreign currency translation adjustments Unrealized gain (loss) on short-term investments Total (In thousands) Balance as of March 31, 2016 $ (2,486 ) $ (7,067 ) $ (9,553 ) Other comprehensive gain (loss), net of tax (145 ) 147 2 Balance as of June 30, 2016 $ (2,631 ) $ (6,920 ) $ (9,551 )
Schedule of Interest income, net	Realized gain on short-term investments and interest income, net: Three Months Ended June 30, 2016 2015 (In thousands) Net realized gain on short-term investments $ 32 $ 1,430 Interest income, net 198 189 $ 230 $ 1,619
Schedule of potentially dilutive common shares excluded from EPS computation	The following potentially dilutive common shares are excluded from the computation of net loss per share: June 30, June 30, (In thousands) Outstanding stock options 1,384 1,713 Outstanding RSUs 5,420 3,997 ESPP shares 383 249 7,187 5,959

Veloce (Tables)

Veloce (Tables)	3 Months Ended
	Jun. 30, 2016
Business Combinations [Abstract]
Schedule of cash payments and stock issuance activities	The following table summarizes the cash payment and stock issuance activities as part of the above arrangement: Three Months Ended June 30, 2016 2015 (In thousands) Cash payments $ 8 $ 65 Value of common stock issued — 921 Total payments $ 8 $ 986 Shares of common stock issued — 163

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Schedule of Option Activity Under Stock Incentive Plans	A summary of the Company's stock option activities and related information is as follows: Number of Shares (thousands) Weighted Average Exercise Price Per Share Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (millions) Outstanding as of March 31, 2016 1,571 $ 8.92 Granted — — Exercised (6 ) $ 5.23 — (1 ) Cancelled (181 ) $ 11.56 Outstanding, vested and exercisable as of June 30, 2016 1,384 $ 8.59 0.9 $ — (2 ) (1) The aggregate pre-tax intrinsic value is calculated as the difference between the market value on the date of exercise and the exercise price of the shares. (2) The aggregate pre-tax intrinsic value is calculated as the difference between the market value as of June 30, 2016 and the exercise price of the shares. The closing price of the Company’s common stock was $6.42 per share on June 30, 2016 .
Schedule of Restricted Stock Unit Activity	A summary of the Company's RSU activities and related information is as follows: Number of Shares (thousands) Weighted Average Grant Date Fair Value Unvested as of March 31, 2016 4,704 $ 6.59 Awarded 1,758 $ 6.06 Vested (863 ) $ 7.05 Cancelled (179 ) $ 5.41 Unvested as of June 30, 2016 5,420 $ 6.38

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Stock-Based Compensation Expense of Stock Options and Restricted Stock Units	The following tables summarize the allocation of the stock-based compensation expense: Stock-based compensation expense by type of grant: Three Months Ended June 30, 2016 2015 (In thousands) Employee stock purchase rights $ 327 $ 207 RSUs 7,847 5,897 8,174 6,104 Stock-based compensation capitalized to inventory (9 ) (12 ) Total $ 8,165 $ 6,092
Summary of Stock-Based Compensation Expense	Stock-based compensation expense by cost centers: Three Months Ended June 30, 2016 2015 (In thousands) Cost of revenues $ 167 $ 105 Research and development 5,993 4,060 Selling, general and administrative 2,014 1,939 8,174 6,104 Stock-based compensation capitalized to inventory (9 ) (12 ) Total $ 8,165 $ 6,092

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Schedule of Contractual Obligation by Fiscal Year Maturity	The following table summarizes the Company's contractual operating leases and other purchase commitments as of June 30, 2016 (in thousands): Fiscal Years Ending March 31, Operating Leases Purchase Commitments * Total 2017 (remainder of year) $ 1,849 $ 21,465 $ 23,314 2018 871 11,194 12,065 2019 503 378 881 Total $ 3,223 $ 33,037 $ 36,260 * Includes open purchase orders with terms that generally allow us the option to cancel or reschedule the order, subject to various restrictions and limitations. Also includes the licensing fees relating to the Company's R&D efforts, including IP, technology, product design, test and verification tools of $18.3 million .

Significant Customer and Geog21

Significant Customer and Geographic Information (Tables)	3 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Schedule of net revenue by major customer	Based on direct shipments, net revenues to customers that were equal to or greater than 10% of total net revenues were as follows: Three Months Ended June 30, 2016 2015 Wintec (global logistics provider)** 26 % 29 % Avnet (distributor) 32 % 25 % Arrow (distributor) * 11 % Flextronics (contract manufacturer) * 11 % * Less than 10% of total net revenues for period indicated. ** Wintec provides vendor managed inventory support primarily for Cisco Systems, Inc.
Schedule of net revenue by geographic region	Based on ship to location, net revenues by geographic region were as follows: Three Months Ended June 30, 2016 2015 (In thousands) United States of America $ 18,239 $ 18,044 Taiwan 2,649 1,314 Hong Kong 9,343 5,971 Europe 5,891 7,392 Japan 3,846 3,813 Other 1,530 1,279 $ 41,498 $ 37,813

Summary of Significant Accoun22

Summary of Significant Accounting Policies - Additional Information (Details)	3 Months Ended	12 Months Ended
	Jun. 30, 2016	Mar. 31, 2016
Customer Concentration Risk | Accounts Receivable
Concentration Risk [Line Items]
Concentration risk percentage	80.00%	69.00%

Certain Financial Statement I23

Certain Financial Statement Information - Accounts Receivable (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Mar. 31, 2016
Schedule of Accounts receivable
Accounts receivable	$ 9,426	$ 9,527
Less: allowance for bad debts	(263)	(262)
Accounts receivable, net	$ 9,163	$ 9,265	[1]
[1]	The Condensed Consolidated Balance Sheet as of March 31, 2016 has been derived from the audited Consolidated Financial Statements at that date but does not include all disclosures required by generally accepted accounting principles for complete financial statements.

Certain Financial Statement I24

Certain Financial Statement Information - Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Mar. 31, 2016
Schedule of Inventories
Finished goods	$ 4,782	$ 8,206
Work in process	4,836	5,854
Raw materials	2,986	2,088
Inventories, total	$ 12,604	$ 16,148	[1]
[1]	The Condensed Consolidated Balance Sheet as of March 31, 2016 has been derived from the audited Consolidated Financial Statements at that date but does not include all disclosures required by generally accepted accounting principles for complete financial statements.

Certain Financial Statement I25

Certain Financial Statement Information - Other Current Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Mar. 31, 2016
Schedule of Other current assets
Prepaid expenses	$ 8,988	$ 8,887
Executive deferred compensation assets	837	817
Other	1,081	1,071
Other current assets, total	$ 10,906	$ 10,775	[1]
[1]	The Condensed Consolidated Balance Sheet as of March 31, 2016 has been derived from the audited Consolidated Financial Statements at that date but does not include all disclosures required by generally accepted accounting principles for complete financial statements.

Certain Financial Statement I26

Certain Financial Statement Information - Property and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2016	Mar. 31, 2016
Schedule of Property and equipment
Machinery and equipment	$ 39,632	$ 36,723
Leasehold improvements	7,528	7,529
Computers, office furniture and equipment	33,294	34,016
Property and equipment, gross	80,454	78,268
Less: accumulated depreciation	(66,549)	(64,975)
Property and equipment, net	$ 13,905	$ 13,293	[1]
Machinery and Equipment | Minimum
Property, Plant and Equipment [Line Items]
Useful life (in years)	3 years
Machinery and Equipment | Maximum
Property, Plant and Equipment [Line Items]
Useful life (in years)	5 years
Leasehold Improvements | Minimum
Property, Plant and Equipment [Line Items]
Useful life (in years)	1 year
Leasehold Improvements | Maximum
Property, Plant and Equipment [Line Items]
Useful life (in years)	5 years
Computers, Office Furniture and Equipment | Minimum
Property, Plant and Equipment [Line Items]
Useful life (in years)	3 years
Computers, Office Furniture and Equipment | Maximum
Property, Plant and Equipment [Line Items]
Useful life (in years)	5 years
[1]	The Condensed Consolidated Balance Sheet as of March 31, 2016 has been derived from the audited Consolidated Financial Statements at that date but does not include all disclosures required by generally accepted accounting principles for complete financial statements.

Certain Financial Statement I27

Certain Financial Statement Information - Other Accrued Liabiliteis (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Mar. 31, 2016
Schedule of other accrued liabilities
Employee related liabilities	$ 1,563	$ 1,362
Executive deferred compensation	871	848
Accrued bonus	3,921	3,269
Other	4,961	4,314
Total other accrued liabilities	$ 11,316	$ 9,793	[1]
[1]	The Condensed Consolidated Balance Sheet as of March 31, 2016 has been derived from the audited Consolidated Financial Statements at that date but does not include all disclosures required by generally accepted accounting principles for complete financial statements.

Certain Financial Statement I28

Certain Financial Statement Information - Short-Term Investments (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Mar. 31, 2016		Jun. 30, 2015	Mar. 31, 2015
Schedule of cash, cash equivalents and available-for-sale investments by type of instruments
Available-for-sale Securities, Amortized Cost	$ 81,837	$ 83,592
Available-for-sale Securities, Gross Unrealized Gains	492	288
Available-for-sale Securities, Gross Unrealized Losses	(18)	(35)
Available-for-sale Securities, Estimated Fair Value	82,311	83,845
Cash and cash equivalents	24,225	25,065	[1]	$ 44,290	$ 36,495
Short-term investments available-for-sale	58,086	58,780	[1]
Cash, Cash equivalents and Short-term investments, Estimated Fair Value	82,311	83,845
Cash
Schedule of cash, cash equivalents and available-for-sale investments by type of instruments
Cash and Cash equivalents, Estimated Fair Value	21,219	23,510
Cash equivalents
Schedule of cash, cash equivalents and available-for-sale investments by type of instruments
Cash and Cash equivalents, Estimated Fair Value	3,006	1,555
U.S. Treasury and agency securities
Schedule of cash, cash equivalents and available-for-sale investments by type of instruments
Available-for-sale Securities, Amortized Cost	14,173	14,863
Available-for-sale Securities, Gross Unrealized Gains	74	38
Available-for-sale Securities, Gross Unrealized Losses	0	(3)
Available-for-sale Securities, Estimated Fair Value	14,247	14,898
Corporate bonds
Schedule of cash, cash equivalents and available-for-sale investments by type of instruments
Available-for-sale Securities, Amortized Cost	24,861	28,047
Available-for-sale Securities, Gross Unrealized Gains	338	221
Available-for-sale Securities, Gross Unrealized Losses	0	(5)
Available-for-sale Securities, Estimated Fair Value	25,199	28,263
Asset-backed and mortgage-backed securities
Schedule of cash, cash equivalents and available-for-sale investments by type of instruments
Available-for-sale Securities, Amortized Cost	16,701	13,565
Available-for-sale Securities, Gross Unrealized Gains	65	13
Available-for-sale Securities, Gross Unrealized Losses	(18)	(27)
Available-for-sale Securities, Estimated Fair Value	16,748	13,551
Municipal bonds
Schedule of cash, cash equivalents and available-for-sale investments by type of instruments
Available-for-sale Securities, Amortized Cost	1,877	2,052
Available-for-sale Securities, Gross Unrealized Gains	15	16
Available-for-sale Securities, Gross Unrealized Losses	0	0
Available-for-sale Securities, Estimated Fair Value	$ 1,892	$ 2,068
[1]	The Condensed Consolidated Balance Sheet as of March 31, 2016 has been derived from the audited Consolidated Financial Statements at that date but does not include all disclosures required by generally accepted accounting principles for complete financial statements.

Certain Financial Statement I29

Certain Financial Statement Information - Short Term Investments Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Mar. 31, 2016
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis
Available-for-sale securities	$ 82,311	$ 83,845
Cash
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis
Cash and cash equivalents	21,219	23,510
Cash equivalents
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis
Cash and cash equivalents	3,006	1,555
U.S. Treasury and agency securities
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis
Available-for-sale securities	14,247	14,898
Corporate bonds
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis
Available-for-sale securities	25,199	28,263
Asset-backed and mortgage-backed securities
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis
Available-for-sale securities	16,748	13,551
Municipal bonds
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis
Available-for-sale securities	1,892	2,068
Recurring
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis
Cash, cash equivalents and available-for-sale investments	82,311	83,845
Recurring | Level 1
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis
Cash, cash equivalents and available-for-sale investments	38,472	39,963
Recurring | Level 2
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis
Cash, cash equivalents and available-for-sale investments	43,839	43,882
Recurring | Level 3
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis
Cash, cash equivalents and available-for-sale investments	0	0
Recurring | Cash
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis
Cash and cash equivalents	21,219	23,510
Recurring | Cash | Level 1
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis
Cash and cash equivalents	21,219	23,510
Recurring | Cash | Level 2
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis
Cash and cash equivalents	0	0
Recurring | Cash | Level 3
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis
Cash and cash equivalents	0	0
Recurring | Cash equivalents
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis
Cash and cash equivalents	3,006	1,555
Recurring | Cash equivalents | Level 1
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis
Cash and cash equivalents	3,006	1,555
Recurring | Cash equivalents | Level 2
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis
Cash and cash equivalents	0	0
Recurring | Cash equivalents | Level 3
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis
Cash and cash equivalents	0	0
Recurring | U.S. Treasury and agency securities
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis
Available-for-sale securities	14,247	14,898
Recurring | U.S. Treasury and agency securities | Level 1
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis
Available-for-sale securities	14,247	14,898
Recurring | U.S. Treasury and agency securities | Level 2
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis
Available-for-sale securities	0	0
Recurring | U.S. Treasury and agency securities | Level 3
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis
Available-for-sale securities	0	0
Recurring | Corporate bonds
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis
Available-for-sale securities	25,199	28,263
Recurring | Corporate bonds | Level 1
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis
Available-for-sale securities	0	0
Recurring | Corporate bonds | Level 2
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis
Available-for-sale securities	25,199	28,263
Recurring | Corporate bonds | Level 3
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis
Available-for-sale securities	0	0
Recurring | Asset-backed and mortgage-backed securities
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis
Available-for-sale securities	16,748	13,551
Recurring | Asset-backed and mortgage-backed securities | Level 1
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis
Available-for-sale securities	0	0
Recurring | Asset-backed and mortgage-backed securities | Level 2
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis
Available-for-sale securities	16,748	13,551
Recurring | Asset-backed and mortgage-backed securities | Level 3
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis
Available-for-sale securities	0	0
Recurring | Municipal bonds
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis
Available-for-sale securities	1,892	2,068
Recurring | Municipal bonds | Level 1
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis
Available-for-sale securities	0	0
Recurring | Municipal bonds | Level 2
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis
Available-for-sale securities	1,892	2,068
Recurring | Municipal bonds | Level 3
Schedule of Cash, Cash Equivalents and Available-For-Sale Investments by Type of Instruments Measured at Fair Value on Recurring Basis
Available-for-sale securities	$ 0	$ 0

Certain Financial Statement I30

Certain Financial Statement Information - Short-Term Investments Schedule of Maturities (Details) $ in Thousands	Jun. 30, 2016USD ($)
Schedule of cost and estimated fair values of available-for-sale securities with stated maturities by contractual maturity
Less than 1 year, Cost	$ 13,471
Mature in 1 - 2 years, Cost	34,118
Mature in 3 - 5 years, Cost	8,823
Mature after 5 years, Cost	1,200
Cost, Total	57,612
Less than 1 year, Fair Value	13,471
Mature in 1 - 2 years, Fair Value	34,386
Mature in 3 - 5 years, Fair Value	9,023
Mature after 5 years, Fair Value	1,206
Fair Value, Total	$ 58,086

Certain Financial Statement I31

Certain Financial Statement Information - Short-Term Investments Gross Unrealized Losses (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Mar. 31, 2016
Schedule of Gross Unrealized Losses
Less Than 12 Months of Unrealized Losses, Estimated Fair Value		$ 22,391
Less than 12 Months of Unrealized Losses, Gross Unrealized Losses		(35)
12 Months or More of Unrealized Losses, Estimated Fair Value		0
12 Months or More of Unrealized Losses, Gross Unrealized Losses		0
Total, Estimated Fair Value		22,391
Total Gross Unrealized Losses		(35)
U.S. Treasury and agency securities
Schedule of Gross Unrealized Losses
Less Than 12 Months of Unrealized Losses, Estimated Fair Value		9,396
Less than 12 Months of Unrealized Losses, Gross Unrealized Losses		(3)
12 Months or More of Unrealized Losses, Estimated Fair Value		0
12 Months or More of Unrealized Losses, Gross Unrealized Losses		0
Total, Estimated Fair Value		9,396
Total Gross Unrealized Losses		(3)
Corporate bonds
Schedule of Gross Unrealized Losses
Less Than 12 Months of Unrealized Losses, Estimated Fair Value		4,601
Less than 12 Months of Unrealized Losses, Gross Unrealized Losses		(5)
12 Months or More of Unrealized Losses, Estimated Fair Value		0
12 Months or More of Unrealized Losses, Gross Unrealized Losses		0
Total, Estimated Fair Value		4,601
Total Gross Unrealized Losses		(5)
Asset-backed and mortgage-backed securities
Schedule of Gross Unrealized Losses
Less Than 12 Months of Unrealized Losses, Estimated Fair Value	$ 4,681	8,394
Less than 12 Months of Unrealized Losses, Gross Unrealized Losses	(18)	(27)
12 Months or More of Unrealized Losses, Estimated Fair Value	0	0
12 Months or More of Unrealized Losses, Gross Unrealized Losses	0	0
Total, Estimated Fair Value	4,681	8,394
Total Gross Unrealized Losses	$ (18)	$ (27)

Certain Financial Statement I32

Certain Financial Statement Information - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands		3 Months Ended
		Jun. 30, 2016	Jun. 30, 2015
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	[1]	$ 115,038
Other comprehensive loss, net of tax		2	$ (1,790)
Ending Balance		110,931
Foreign currency translation adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance		(2,486)
Other comprehensive loss, net of tax		(145)
Ending Balance		(2,631)
Unrealized loss on short-term investments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance		(7,067)
Other comprehensive loss, net of tax		147
Ending Balance		(6,920)
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance		(9,553)
Other comprehensive loss, net of tax		2
Ending Balance		$ (9,551)
[1]	The Condensed Consolidated Balance Sheet as of March 31, 2016 has been derived from the audited Consolidated Financial Statements at that date but does not include all disclosures required by generally accepted accounting principles for complete financial statements.

Certain Financial Statement I33

Certain Financial Statement Information - Realized Gain on Short-Term Investments and Interest Income, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Schedule of Interest Income, Net
Net realized gain on short-term investments	$ 32	$ 1,430
Interest income, net	198	189
Realized gain on short-term investments and interest income, net	$ 230	$ 1,619

Certain Financial Statement I34

Certain Financial Statement Information - Potentially Dilutive Common Shares (Details) - shares shares in Thousands	3 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Certain Financial Statement Information [Line Items]
Dilutive securities excluded from the net loss per share computation	7,187	5,959
Outstanding stock options
Certain Financial Statement Information [Line Items]
Dilutive securities excluded from the net loss per share computation	1,384	1,713
Outstanding RSUs
Certain Financial Statement Information [Line Items]
Dilutive securities excluded from the net loss per share computation	5,420	3,997
ESPP shares
Certain Financial Statement Information [Line Items]
Dilutive securities excluded from the net loss per share computation	383	249

Veloce - Additional Information

Veloce - Additional Information (Details) - Veloce Technologies Inc - USD ($) shares in Thousands, $ in Thousands	1 Months Ended	3 Months Ended		49 Months Ended
	Jun. 30, 2012	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016
Business Acquisition [Line Items]
Total purchase consideration	$ 178,500	$ 8	$ 986	$ 171,900
Consideration payable in cash or equity		6,600		6,600
Cash payments		$ 8	$ 65	$ 89,400
Stock issued (in shares)		0	163	11,200
Total equity value transferred				$ 82,500

Veloce - Cash Payments and Stoc

Veloce - Cash Payments and Stock Issuances (Details) - Veloce Technologies Inc - USD ($) shares in Thousands, $ in Thousands	1 Months Ended	3 Months Ended		49 Months Ended
	Jun. 30, 2012	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016
Business Acquisition [Line Items]
Cash payments		$ 8	$ 65	$ 89,400
Value of common stock issued		0	921
Total payments	$ 178,500	$ 8	$ 986	$ 171,900
Shares of common stock issued (in shares)		0	163	11,200

Stockholders' Equity - Stock Op

Stockholders' Equity - Stock Options (Details) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended
	Jun. 30, 2016USD ($)Approved_Plan$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stockholder-approved plans | Approved_Plan	2
Number of plans unapproved by stockholders | Approved_Plan	1
Schedule of Option Activity Under Stock Incentive Plans
Number of Shares, Outstanding at the beginning of the year (in shares) | shares	1,571
Number of Shares, Granted (in shares) | shares	0
Number of Shares, Exercised (in shares) | shares	(6)
Number of Shares, Forfeited (in shares) | shares	(181)
Number of Shares, Outstanding at the end of the period (in shares) | shares	1,384
Number of Shares vested and exercisable at end of period (in shares) | shares	1,384
Schedule of Weighted Average Exercise Price Per Share Under Stock Incentive Plans
Weighted Average Exercise Price Per Share, Outstanding at the beginning of the year (USD per share)	$ 8.92
Weighted Average Exercise Price Per Share, Granted (USD per share)	0
Weighted Average Exercise Price Per Share, Exercised (USD per share)	5.23
Weighted Average Exercise Price Per Share, Forfeited (USD per share)	11.56
Weighted Average Exercise Price Per Share, Outstanding at the end of the period (USD per share)	8.59
Weighted Average Exercise Price Per Share, vested and exercisable at the end of the period (USD per share)	$ 8.59
Weighted average remaining contractual term for options outstanding at end of period (in years)	10 months 24 days
Weighted Average Remaining Contractual Life, vested and exercisable at end of period (in years)	10 months 24 days
Aggregate pretax intrinsic value of options exercised | $	$ 0	[1]
Aggregate intrinsic value of options outstanding at end of period | $	0	[2]
Aggregate intrinsic value of options, vested and exercisable at end of period | $	$ 0	[2]
Common stock, closing price per share (USD per share)	$ 6.42
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period, in years	4 years
Stock options | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period, in years	8 years
Stock options | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period, in years	10 years
[1]	The aggregate pre-tax intrinsic value is calculated as the difference between the market value on the date of exercise and the exercise price of the shares.
[2]	The aggregate pre-tax intrinsic value is calculated as the difference between the market value as of June 30, 2016 and the exercise price of the shares. The closing price of the Company’s common stock was $6.42 per share on June 30, 2016.

Stockholders' Equity - Restrict

Stockholders' Equity - Restricted Stock Units (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended	31 Months Ended
	Jun. 30, 2016	May 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Common stock, closing price per share (USD per share)	$ 6.42
Outstanding RSUs
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Number of Shares, Beginning balance (in shares)	4,704
Number of Shares, Awarded (in shares)	1,758
Number of Shares, Vested (in shares)	(863)
Number of Shares, Cancelled (in shares)	(179)
Number of Shares, Ending balance (in shares)	5,420
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted Average Grant Date Fair Value, Beginning Balance (in Dollars per share)	$ 6,590
Weighted Average Grant Date Fair Value, Awarded (in Dollars per share)	6,060
Weighted Average Grant Date Fair Value, Vested (in Dollars per share)	7,050
Weighted Average Grant Date Fair Value, Cancelled (in Dollars per share)	5,410
Weighted Average Grant Date Fair Value, Ending Balance (in Dollars per share)	$ 6,380
Weighted average remaining contractual term for the restricted stock units outstanding (in years)	1 year 3 months 10 days
Aggregate pre-tax intrinsic value of restricted stock units outstanding which includes performance based awards which are subject to milestone attainments	$ 34.8
Aggregate pretax intrinsic value	5.4
Performance-Based MSU
Class of Stock [Line Items]
Grants in period, fair value		$ 4.7
Value of shares expired unvested in period	$ 2.9
Performance-Based MSU | First Vesting period
Class of Stock [Line Items]
Award performance period	2 years
Performance-Based MSU | First Vesting period | Minimum
Class of Stock [Line Items]
Vesting percentage	0.00%
Performance-Based MSU | First Vesting period | Maximum
Class of Stock [Line Items]
Vesting percentage	150.00%
Performance-Based MSU | Second Vesting Period
Class of Stock [Line Items]
Award performance period	3 years
Performance-Based MSU | Second Vesting Period | Minimum
Class of Stock [Line Items]
Vesting percentage	0.00%
Performance-Based MSU | Second Vesting Period | Maximum
Class of Stock [Line Items]
Vesting percentage	175.00%
2011 Equity Incentive Plan | Outstanding RSUs | Maximum
Class of Stock [Line Items]
Vesting period, in years	4 years
Compensation Programs | Minimum
Class of Stock [Line Items]
Award pay out percentage	0.00%
Compensation Programs | Maximum
Class of Stock [Line Items]
Award pay out percentage	150.00%

Stockholders' Equity - Employee

Stockholders' Equity - Employee Stock Purchase Plan (Details) - Employee Stock Purchase Plan - 2012 Employee Stock Purchase Plan shares in Millions	3 Months Ended
	Jun. 30, 2016shares
Class of Stock [Line Items]
Common stock reserved for issuance (in shares)	3.8
Maximum percentage of base salary that can be contributed to purchase common stock	20.00%
Percentage of purchase price of common stock equal to fair market value	85.00%
Shares available for future issuance (in shares)	1.2

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Summary of Stock-Based Compensation Expense of Stock Options and Restricted Stock Units
Stock-based compensation expense	$ 8,174	$ 6,104
Stock-based compensation capitalized to inventory	(9)	(12)
Total	8,165	6,092
Cost of Revenues
Summary of Stock-Based Compensation Expense of Stock Options and Restricted Stock Units
Stock-based compensation expense	167	105
Research and Development Expense
Summary of Stock-Based Compensation Expense of Stock Options and Restricted Stock Units
Stock-based compensation expense	5,993	4,060
Selling, General and Administrative
Summary of Stock-Based Compensation Expense of Stock Options and Restricted Stock Units
Stock-based compensation expense	2,014	1,939
Outstanding stock options
Summary of Stock-Based Compensation Expense of Stock Options and Restricted Stock Units
Stock-based compensation expense	327	207
Outstanding RSUs
Summary of Stock-Based Compensation Expense of Stock Options and Restricted Stock Units
Stock-based compensation expense	$ 7,847	$ 5,897

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) $ in Millions	3 Months Ended
	Jun. 30, 2016USD ($)
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Unearned stock-based compensation	$ 32.4
Weighted-average period over which the unearned stock-based compensation is expected to be recognized, years	1 year 3 months

Commitments and Contingencies -

Commitments and Contingencies - Commitments (Details) $ in Thousands	3 Months Ended
	Jun. 30, 2016USD ($)
Operating Leases
2017 (remainder of year)	$ 1,849
2,018	871
2,019	503
Total	3,223
Purchase Commitments
2017 (remainder of year)	21,465	[1]
2,018	11,194	[1]
2,019	378	[1]
Total	33,037	[1]
Total
2017 (remainder of year)	23,314
2,018	12,065
2,019	881
Total	36,260
Licensing Costs Due	$ 18,300
Length of warranty (in years)	1 year
[1]	Includes open purchase orders with terms that generally allow us the option to cancel or reschedule the order, subject to various restrictions and limitations. Also includes the licensing fees relating to the Company's R&D efforts, including IP, technology, product design, test and verification tools of $18.3 million.

Commitments and Contingencies43

Commitments and Contingencies - Contingencies (Details) $ in Thousands	1 Months Ended	3 Months Ended
	Jan. 31, 2012	Jun. 30, 2016USD ($)Company
Commitments and Contingencies Disclosure [Abstract]
Companies named as Potentially Responsible Parties (more than) | Company		100
Payments for OPOG's legal expenses and remediation costs | $		$ 62
Percent of contribution to the total waste	0.50%

Significant Customer and Geog44

Significant Customer and Geographic Information - Revenue by Customer (Details) - Net Revenue - Customer Concentration Risk		3 Months Ended
		Jun. 30, 2016	Jun. 30, 2015
Wintec (global logistics provider)
Revenue, Major Customer [Line Items]
Concentration risk percentage	[1]	26.00%	29.00%
Avnet (distributor)
Revenue, Major Customer [Line Items]
Concentration risk percentage		32.00%	25.00%
Arrow (distributor)
Revenue, Major Customer [Line Items]
Concentration risk percentage			11.00%
Flextronics (contract manufacturer)
Revenue, Major Customer [Line Items]
Concentration risk percentage			11.00%
[1]	{F|ahBzfndlYmZpbGluZ3MtaHJkcmoLEgZYTUxEb2MiXlhCUkxEb2NHZW5JbmZvOjhmNTBmMTIxMWI3MTQ2OWE5YzExMjAyNmM0NzM3YTcxfFRleHRTZWxlY3Rpb246NjAyN0U4MzAxODg0REI1OTEyQUIyMzNEQ0MxMDhCODIM}

Significant Customer and Geog45

Significant Customer and Geographic Information - Revenue by Geographical Location (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	$ 41,498	$ 37,813
United States of America
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	18,239	18,044
Taiwan
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	2,649	1,314
Hong Kong
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	9,343	5,971
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	5,891	7,392
Japan
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	3,846	3,813
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	$ 1,530	$ 1,279