Power Integrations (POWI) 10-Q 2 Nov 22 2022 Q3 Quarterly report Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION - $ / shares	9 Months Ended
	Sep. 30, 2022	Oct. 31, 2022
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	000-23441
Entity Registrant Name	POWER INTEGRATIONS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-3065014
Entity Address, Address Line One	5245 Hellyer Avenue
Entity Address, City or Town	San Jose
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95138
City Area Code	408
Local Phone Number	414-9200
Title of 12(b) Security	Common Stock
Trading Symbol	POWI
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Listing, Par Value Per Share	$ 0.001
Entity Common Stock, Shares Outstanding		57,197,860
Entity Central Index Key	0000833640
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
CURRENT ASSETS:
Cash and cash equivalents	$ 133,474	$ 158,117
Short-term marketable securities	229,754	372,235
Accounts receivable, net	16,075	41,393
Inventories	120,092	99,266
Prepaid expenses and other current assets	12,634	15,804
Total current assets	512,029	686,815
PROPERTY AND EQUIPMENT, net	181,224	179,824
INTANGIBLE ASSETS, net	7,141	9,012
GOODWILL	91,849	91,849
DEFERRED TAX ASSETS	23,935	16,433
OTHER ASSETS	21,785	30,554
Total assets	837,963	1,014,487
CURRENT LIABILITIES:
Accounts payable	29,521	43,721
Accrued payroll and related expenses	13,765	15,492
Taxes payable	2,960	1,210
Other accrued liabilities	12,613	11,898
Total current liabilities	58,859	72,321
LONG-TERM INCOME TAXES PAYABLE	16,398	15,280
OTHER LIABILITIES	12,424	14,854
Total liabilities	87,681	102,455
COMMITMENTS AND CONTINGENCIES (Notes 11, 12 and 13)
STOCKHOLDERS' EQUITY:
Common stock	24	28
Additional paid-in capital	6,123	162,301
Accumulated other comprehensive loss	(11,817)	(3,737)
Retained earnings	755,952	753,440
Total stockholders' equity	750,282	912,032
Total liabilities and stockholders' equity	$ 837,963	$ 1,014,487

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
NET REVENUES	$ 160,233	$ 176,776	$ 526,368	$ 530,623
COST OF REVENUES	68,198	85,037	226,815	263,160
GROSS PROFIT	92,035	91,739	299,553	267,463
OPERATING EXPENSES:
Research and development	23,205	21,137	70,390	62,905
Sales and marketing	14,700	15,624	47,081	45,037
General and administrative	5,759	9,386	21,432	28,767
Other operating expenses	0	0	1,130	0
Total operating expenses	43,664	46,147	140,033	136,709
INCOME FROM OPERATIONS	48,371	45,592	159,520	130,754
OTHER INCOME	1,001	206	2,229	976
INCOME BEFORE INCOME TAXES	49,372	45,798	161,749	131,730
PROVISION FOR INCOME TAXES	3,408	3,764	13,713	8,017
NET INCOME	$ 45,964	$ 42,034	$ 148,036	$ 123,713
EARNINGS PER SHARE:
Basic (in dollars per share)	$ 0.80	$ 0.70	$ 2.55	$ 2.05
Diluted (in dollars per share)	$ 0.80	$ 0.69	$ 2.52	$ 2.01
SHARES USED IN PER SHARE CALCULATION:
Basic (in shares)	57,172	60,319	58,039	60,350
Diluted (in shares)	57,603	61,363	58,635	61,466

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 45,964	$ 42,034	$ 148,036	$ 123,713
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments, net of $0 tax in each of the three and nine months ended September 30, 2022 and 2021	(1,044)	(154)	(2,067)	(212)
Unrealized gain (loss) on marketable securities, net of $0 tax in each of the three and nine months ended September 30, 2022 and 2021	(731)	7	(6,072)	(904)
Amortization of defined benefit pension items, net of tax of $3 and $6 in the three and nine months ended September 30, 2022, respectively, and $6 and $147 in the three and nine months ended September 30, 2021, respectively	18	53	59	30
Total other comprehensive loss	(1,757)	(94)	(8,080)	(1,086)
TOTAL COMPREHENSIVE INCOME	$ 44,207	$ 41,940	$ 139,956	$ 122,627

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustments, tax	$ 0	$ 0	$ 0	$ 0
Unrealized gain (loss) on marketable securities, tax	0	0	0	0
Amortization of defined benefit pension items, tax	$ 3	$ 6	$ 6	$ 147

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Retained Earnings	Total
Beginning balance at Dec. 31, 2020	$ 28	$ 190,920	$ (2,163)	$ 621,626
Net income				123,713	$ 123,713
Common stock issued under employee stock plans	1	7,709
Repurchase of common stock	(1)	(36,164)
Stock-based compensation		27,325
Other comprehensive loss			(1,086)		(1,086)
Payment of dividends to stockholders				(23,552)
Ending balance at Sep. 30, 2021	28	189,790	(3,249)	721,787	908,356
Beginning balance at Jun. 30, 2021	28	185,878	(3,155)	687,593
Net income				42,034	42,034
Common stock issued under employee stock plans	0	4,058
Repurchase of common stock	0	(9,791)
Stock-based compensation		9,645
Other comprehensive loss			(94)		(94)
Payment of dividends to stockholders				(7,840)
Ending balance at Sep. 30, 2021	28	189,790	(3,249)	721,787	908,356
Beginning balance at Dec. 31, 2021	28	162,301	(3,737)	753,440	912,032
Net income				148,036	148,036
Common stock issued under employee stock plans	0	6,162
Repurchase of common stock	(4)	(178,050)		(114,295)	(292,300)
Stock-based compensation		15,710
Other comprehensive loss			(8,080)		(8,080)
Payment of dividends to stockholders				(31,229)
Ending balance at Sep. 30, 2022	24	6,123	(11,817)	755,952	750,282
Beginning balance at Jun. 30, 2022	24		(10,060)	720,281
Net income				45,964	45,964
Common stock issued under employee stock plans	0	3,105
Repurchase of common stock	0	0
Stock-based compensation		3,018
Other comprehensive loss			(1,757)		(1,757)
Payment of dividends to stockholders				(10,293)
Ending balance at Sep. 30, 2022	$ 24	$ 6,123	$ (11,817)	$ 755,952	$ 750,282

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 148,036	$ 123,713
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	26,055	23,400
Amortization of intangibles	1,871	2,699
Loss on disposal of property and equipment	1,162	2,200
Stock-based compensation expense	15,710	27,325
Amortization of premium on marketable securities	2,638	775
Deferred income taxes	(7,390)	(12)
Increase in accounts receivable allowance for credit losses	690	17
Change in operating assets and liabilities:
Accounts receivable	24,628	(2,979)
Inventories	(20,826)	11,064
Prepaid expenses and other assets	8,428	(4,973)
Accounts payable	(5,874)	6,633
Taxes payable and accrued liabilities	(3,883)	(6,157)
Net cash provided by operating activities	191,245	183,705
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	(33,444)	(30,305)
Proceeds from sale of property and equipment	1,202	35
Purchases of marketable securities	(27,244)	(381,903)
Proceeds from sales and maturities of marketable securities	161,014	284,036
Net cash provided by (used in) investing activities	101,528	(128,137)
CASH FLOWS FROM FINANCING ACTIVITIES:
Issuance of common stock under employee stock plans	6,162	7,710
Repurchase of common stock	(292,349)	(36,165)
Payments of dividends to stockholders	(31,229)	(23,552)
Net cash used in financing activities	(317,416)	(52,007)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(24,643)	3,561
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	158,117	258,874
CASH AND CASH EQUIVALENTS AT END OF PERIOD	133,474	262,435
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Unpaid property and equipment	2,555	4,983
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for income taxes, net	$ 17,834	$ 16,272

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2022
Organization Consolidation And Presentation Of Financial Statements Abstract
BASIS OF PRESENTATION	1. BASIS OF PRESENTATION: The condensed consolidated financial statements include the accounts of Power Integrations, Inc., a Delaware corporation (the “Company”), and its wholly owned subsidiaries. Significant intercompany accounts and transactions have been eliminated in consolidation. While the financial information furnished is unaudited, the condensed consolidated financial statements included in this report reflect all adjustments (consisting only of normal recurring adjustments) that the Company considers necessary for the fair presentation of the results of operations for the interim periods covered and the financial condition of the Company at the date of the interim balance sheet in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The results for interim periods are not necessarily indicative of the results for the entire year. The condensed consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements and the notes thereto for the year ended December 31, 2021, included in its Form 10-K filed on February 7, 2022, with the Securities and Exchange Commission.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES AND RECENT ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Sep. 30, 2022
Accounting Policies And Recent Accounting Pronouncements Abstract
SIGNIFICANT ACCOUNTING POLICIES AND RECENT ACCOUNTING PRONOUNCEMENTS	2. SIGNIFICANT ACCOUNTING POLICIES AND RECENT ACCOUNTING PRONOUNCEMENTS: Significant Accounting Policies and Estimates No material changes have been made to the Company’s significant accounting policies disclosed in Note 2, Significant Accounting Policies and Recent Accounting Pronouncements Recent Accounting Pronouncements The Company has considered all recent accounting pronouncements issued, but not yet effective, and does not expect any to have a material effect on the Company’s condensed consolidated financial statements.

COMPONENTS OF THE COMPANY'S CON

COMPONENTS OF THE COMPANY'S CONDENSED CONSOLIDATED BALANCE SHEETS	9 Months Ended
	Sep. 30, 2022
Balance Sheet Related Disclosures Abstract
COMPONENTS OF THE COMPANY'S CONDENSED CONSOLIDATED BALANCE SHEETS	3. COMPONENTS OF THE COMPANY’S CONDENSED CONSOLIDATED BALANCE SHEETS: Accounts Receivable ​ ​ ​ ​ ​ ​ ​ ​ September 30, December 31, (In thousands) ​ 2022 ​ 2021 Accounts receivable trade ​ $ 84,947 ​ $ 87,503 Allowance for ship and debit ​ (63,578) ​ (41,599) Allowance for stock rotation and rebate ​ (4,159) ​ (4,066) Allowance for credit losses ​ ​ (1,135) ​ ​ (445) Total ​ $ 16,075 ​ $ 41,393 ​ ​ The Company maintains an allowance for estimated credit losses resulting from the inability of customers to make required payments. This allowance is established using estimates formulated by the Company’s management based upon factors such as the composition of the accounts receivable aging, historical losses, changes in payment patterns, customer creditworthiness and current economic trends. Receivables determined to be uncollectible are written off and deducted from the allowance. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for Credit Losses ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30, ​ September 30, (In thousands) ​ 2022 2021 2022 2021 Beginning balance ​ $ (704) ​ $ (518) ​ $ (445) ​ $ (427) Provision for credit loss expense ​ (967) ​ (325) ​ (1,585) ​ (902) Receivables written off ​ 49 ​ 74 ​ 49 ​ 74 Recoveries collected ​ 487 ​ 325 ​ 846 ​ 811 Ending balance ​ $ (1,135) ​ $ (444) ​ $ (1,135) ​ $ (444) ​ Inventories ​ ​ ​ ​ ​ ​ ​ ​ September 30, December 31, (In thousands) ​ 2022 ​ 2021 Raw materials ​ $ 53,068 ​ $ 24,131 Work-in-process ​ 16,322 ​ 31,788 Finished goods ​ 50,702 ​ 43,347 Total ​ $ 120,092 ​ $ 99,266 ​ Intangible Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2022 ​ December 31, 2021 ​ ​ ​ Accumulated ​ ​ ​ ​ Accumulated ​ ​ (In thousands) ​ Gross ​ Amortization ​ Net ​ Gross ​ Amortization ​ Net Domain name ​ $ 1,261 ​ $ — ​ $ 1,261 ​ $ 1,261 ​ $ — ​ $ 1,261 Developed technology ​ 37,960 ​ (33,049) ​ 4,911 ​ 37,960 ​ (31,603) ​ 6,357 Customer relationships ​ 16,700 ​ (16,700) ​ — ​ 16,700 ​ (16,458) ​ 242 Technology licenses ​ 1,926 ​ (957) ​ 969 ​ 1,926 ​ (774) ​ 1,152 Total intangible assets ​ $ 57,847 ​ $ (50,706) ​ $ 7,141 ​ $ 57,847 ​ $ (48,835) ​ $ 9,012 ​ ​ The estimated future amortization expense related to finite-lived intangible assets at September 30, 2022, is as follows: ​ ​ ​ ​ ​ Estimated ​ ​ Amortization Fiscal Year ​ (In thousands) 2022 (remaining three months) ​ $ 544 2023 ​ 2,173 2024 ​ 1,279 2025 ​ 832 2026 ​ 687 Thereafter ​ 365 Total ​ $ 5,880 ​ Accumulated Other Comprehensive Loss Changes in accumulated other comprehensive loss for the three and nine months ended September 30, 2022 and 2021, were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized Gains ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ and Losses on ​ Defined Benefit ​ Foreign Currency ​ ​ ​ ​ Marketable Securities ​ Pension Items ​ Items ​ Total ​ Three Months Ended ​ Three Months Ended ​ Three Months Ended ​ Three Months Ended ​ September 30, ​ September 30, ​ September 30, ​ September 30, (In thousands) 2022 2021 2022 2021 2022 2021 2022 2021 Beginning balance $ (6,506) ​ $ (21) ​ $ (633) ​ $ (1,664) ​ $ (2,921) ​ $ (1,470) ​ $ (10,060) ​ $ (3,155) Other comprehensive income (loss) before reclassifications (731) ​ 7 ​ — ​ — ​ (1,044) ​ (154) ​ (1,775) ​ (147) Amounts reclassified from accumulated other comprehensive loss — ​ — ​ 18 (1) 53 (1) — ​ — ​ 18 ​ 53 Net-current period other comprehensive income (loss) (731) ​ 7 ​ 18 ​ 53 ​ (1,044) ​ (154) ​ (1,757) ​ (94) Ending balance $ (7,237) ​ $ (14) ​ $ (615) ​ $ (1,611) ​ $ (3,965) ​ $ (1,624) ​ $ (11,817) ​ $ (3,249) ​ (1) This component of accumulated other comprehensive income (loss) is included in the computation of net periodic pension cost for the three months ended September 30, 2022 and 2021. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized Gains ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ and Losses on ​ Defined Benefit ​ Foreign Currency ​ ​ ​ ​ Marketable Securities ​ Pension Items ​ Items ​ Total ​ Nine Months Ended ​ Nine Months Ended ​ Nine Months Ended ​ Nine Months Ended ​ September 30, ​ September 30, ​ September 30, ​ September 30, (In thousands) 2022 2021 2022 ​ 2021 2022 2021 2022 2021 Beginning balance $ (1,165) ​ $ 890 ​ $ (674) ​ $ (1,641) ​ $ (1,898) ​ $ (1,412) ​ $ (3,737) ​ $ (2,163) Other comprehensive income (loss) before reclassifications (6,072) ​ (904) ​ — ​ — ​ (2,067) ​ (212) ​ (8,139) ​ (1,116) Amounts reclassified from accumulated other comprehensive loss — ​ — ​ 59 (1) 30 (1) — ​ — ​ 59 ​ 30 Net-current period other comprehensive income (loss) (6,072) ​ (904) ​ 59 ​ 30 ​ (2,067) ​ (212) ​ (8,080) ​ (1,086) Ending balance $ (7,237) ​ $ (14) ​ $ (615) ​ $ (1,611) ​ $ (3,965) ​ $ (1,624) ​ $ (11,817) ​ $ (3,249) (1) This component of accumulated other comprehensive income (loss) is included in the computation of net periodic pension cost for the nine months ended September 30, 2022 and 2021.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures Abstract
FAIR VALUE MEASUREMENTS	4. FAIR VALUE MEASUREMENTS: The FASB established a three-tier value hierarchy, which prioritizes the inputs used in measuring fair value as follows: (Level 1) observable inputs such as quoted prices for identical assets in active markets; (Level 2) inputs other than the quoted prices in active markets that are observable either directly or indirectly; and (Level 3) unobservable inputs in which there is little or no market data, which requires the Company to develop its own assumptions. This hierarchy requires the Company to use observable market data, when available, and to minimize the use of unobservable inputs when determining fair value. The Company’s cash equivalents and short-term marketable securities are classified within Level 1 or Level 2 of the fair-value hierarchy because they are valued using quoted market prices, broker or dealer quotations, or alternative pricing sources with reasonable levels of price transparency. The fair-value hierarchy of the Company’s cash equivalents and marketable securities at September 30, 2022 and December 31, 2021, was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurement at ​ ​ September 30, 2022 ​ ​ ​ Quoted Prices in ​ ​ ​ ​ ​ ​ ​ Active Markets for ​ Significant Other ​ ​ ​ ​ ​ Identical Assets ​ Observable Inputs (In thousands) ​ Total Fair Value ​ (Level 1) ​ (Level 2) Commercial paper ​ $ 70,654 ​ $ — ​ $ 70,654 Corporate securities ​ ​ 229,754 ​ ​ — ​ ​ 229,754 Money market funds ​ 3,841 ​ 3,841 ​ — Total ​ $ 304,249 ​ $ 3,841 ​ $ 300,408 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurement at ​ ​ December 31, 2021 ​ ​ ​ Quoted Prices in ​ ​ ​ ​ ​ ​ ​ Active Markets for ​ Significant Other ​ ​ ​ ​ ​ Identical Assets ​ Observable Inputs (In thousands) ​ Total Fair Value ​ (Level 1) ​ (Level 2) Commercial paper ​ $ 172,237 ​ $ — ​ $ 172,237 Corporate securities ​ ​ 282,540 ​ ​ — ​ ​ 282,540 Money market funds ​ 29,793 ​ 29,793 ​ — Total ​ $ 484,570 ​ $ 29,793 ​ $ 454,777 ​ The Company did not transfer any investments between Level 1 and Level 2 of the fair-value hierarchy in the nine months ended September 30, 2022 and the twelve months ended December 31, 2021.

MARKETABLE SECURITIES

MARKETABLE SECURITIES	9 Months Ended
	Sep. 30, 2022
Marketable Securities Abstract
MARKETABLE SECURITIES	5. MARKETABLE SECURITIES: Amortized cost and estimated fair market value of marketable securities classified as available-for-sale (excluding cash equivalents) at September 30, 2022, were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized ​ Gross Unrealized ​ Estimated Fair (In thousands) Cost Gains Losses Market Value Investments due in 3 months or less: ​ ​ ​ ​ Corporate securities ​ $ 8,412 ​ $ — ​ $ (36) ​ $ 8,376 Total ​ 8,412 ​ — ​ (36) ​ 8,376 Investments due in 4-12 months: ​ ​ ​ ​ Corporate securities ​ 159,313 ​ — ​ (4,369) ​ 154,944 Total ​ 159,313 ​ — ​ (4,369) ​ 154,944 Investments due in 12 months or greater: ​ ​ ​ ​ Corporate securities ​ 69,266 ​ — ​ (2,832) ​ 66,434 Total ​ ​ 69,266 ​ — ​ ​ (2,832) ​ 66,434 Total marketable securities ​ $ 236,991 ​ $ — ​ $ (7,237) ​ $ 229,754 ​ Accrued interest receivable was $1.3 million at September 30, 2022 and was recorded within prepaid expenses and other current assets on the condensed consolidated balance sheet. Amortized cost and estimated fair market value of marketable securities classified as available-for-sale (excluding cash equivalents) at December 31, 2021, were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized ​ Gross Unrealized ​ Estimated Fair (In thousands) Cost Gains Losses Market Value Investments due in 3 months or less: ​ ​ ​ ​ Commercial paper ​ $ 89,965 ​ $ — ​ $ — ​ $ 89,965 Corporate securities ​ ​ 7,285 ​ ​ — ​ ​ (3) ​ ​ 7,282 Total ​ 97,250 ​ — ​ (3) ​ 97,247 Investments due in 4-12 months: ​ ​ ​ ​ Corporate securities ​ 25,054 ​ — ​ (42) ​ 25,012 Total ​ 25,054 ​ — ​ (42) ​ 25,012 Investments due in 12 months or greater: ​ ​ ​ ​ Corporate securities ​ ​ 251,096 ​ 21 ​ (1,141) ​ 249,976 Total ​ 251,096 ​ 21 ​ (1,141) ​ 249,976 Total marketable securities ​ $ 373,400 ​ $ 21 ​ $ (1,186) ​ $ 372,235 ​ Accrued interest receivable was $1.5 million at December 31, 2021 and was recorded within prepaid expenses and other current assets on the condensed consolidated balance sheet. The following table summarizes marketable securities classified as available-for-sale (excluding cash equivalents) in a continuous unrealized loss position for which an allowance for credit losses was not recorded at September 30, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less Than 12 Months ​ 12 Months or Longer ​ Total ​ Estimated Gross Estimated Gross Estimated Gross ​ ​ Fair Market ​ Unrealized ​ Fair Market ​ Unrealized ​ Fair Market ​ Unrealized (In thousands) ​ Value ​ Losses ​ Value ​ Losses ​ Value ​ Losses Corporate securities ​ $ 178,374 ​ $ (5,520) ​ $ 51,379 ​ $ (1,717) ​ $ 229,753 ​ $ (7,237) Total marketable securities ​ $ 178,374 ​ $ (5,520) ​ $ 51,379 ​ $ (1,717) ​ $ 229,753 ​ $ (7,237) ​ In the three and nine months ended September 30, 2022 and 2021, no unrealized losses on marketable securities were recognized in income. The Company does not intend to sell and it is unlikely that it will be required to sell the securities prior to their anticipated recovery. The issuers are high quality (investment grade) and the decline in fair value is largely due to changes in interest rates. Additionally, the issuers continue to make timely interest payments on the marketable securities with the fair value expected to recover as they reach maturity.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	9 Months Ended
	Sep. 30, 2022
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	6. STOCK-BASED COMPENSATION: The following table summarizes the stock-based compensation expense recognized in accordance with ASC 718-10 for the three and nine months ended September 30, 2022 and 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30, ​ September 30, (In thousands) 2022 2021 2022 2021 Cost of revenues ​ $ 172 ​ $ 664 ​ $ 727 ​ $ 1,935 Research and development ​ 2,334 ​ 3,055 ​ 7,712 ​ 8,605 Sales and marketing ​ 1,267 ​ 2,201 ​ 4,392 ​ 5,540 General and administrative ​ (755) ​ 3,725 ​ 2,879 ​ 11,245 Total stock-based compensation expense ​ $ 3,018 ​ $ 9,645 ​ $ 15,710 ​ $ 27,325 ​ ​ Stock-based compensation expense in the three months ended September 30, 2022, was approximately $3.0 million, comprising approximately $6.4 million related to restricted stock unit (RSU) awards, $0.5 million related to the Company’s employee stock purchase plan and a $3.9 million credit to expense related to performance-based (PSU) awards and long-term performance-based (PRSU) awards. Stock-based compensation expense in the nine months ended September 30, 2022, was approximately $15.7 million, comprising approximately $17.3 million related to RSUs, $1.3 million related to the Company’s employee stock purchase plan and a $2.9 million credit to expense related to PSUs and PRSUs. Stock-based compensation expense in the three months ended September 30, 2021, was approximately $9.6 million, comprising approximately $5.0 million related to RSUs, $4.2 million related to PSUs and PRSUs and $0.4 million related to the Company’s employee stock purchase plan. Stock-based compensation expense in the nine months ended September 30, 2021, was approximately $27.3 million, comprising approximately $15.0 million related to RSUs, $10.9 million related to PSUs and PRSUs and $1.4 million related to the Company’s employee stock purchase plan. PSU Awards Under the performance-based awards program, the Company grants awards in the performance year in an amount equal to twice the target number of shares to be issued if the maximum performance metrics are met. The number of shares that are released at the end of the performance year can range from zero to 200% of the target number depending on the Company’s performance. The performance metrics of this program are annual targets consisting of a combination of net revenue, non-GAAP operating income and strategic goals. As the net revenue, non-GAAP operating income and strategic goals are considered performance conditions, expense associated with these awards, net of estimated forfeitures, is recognized over the service period based on an assessment of the expected achievement of the performance targets. The fair value of these PSUs is determined using the fair value of the Company’s common stock on the date of the grant, reduced by the discounted present value of dividends expected to be declared before the awards vest. If the performance conditions are not achieved, no compensation cost is recognized and any previously recognized compensation is reversed. In February 2022, it was determined that approximately 104,000 shares subject to the PSUs granted in 2021 vested in aggregate; the shares were released to the Company’s employees and executives in the first quarter of 2022. A summary of PSUs outstanding as of September 30, 2022 and activity during the nine months ended, is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-Average ​ ​ ​ ​ ​ ​ ​ Weighted-Average ​ Remaining ​ Aggregate ​ ​ Shares ​ Grant Date Fair ​ Contractual Term ​ Intrinsic Value ​ (In thousands) Value Per Share (In years) (In thousands) Outstanding at January 1, 2022 104 ​ $ 84.47 ​ ​ ​ Granted 119 ​ $ 79.91 ​ ​ Vested (104) ​ $ 84.47 ​ Forfeited (3) ​ $ 79.23 ​ Outstanding at September 30, 2022 116 ​ $ 79.93 0.25 ​ $ 7,478 Outstanding and expected to vest at September 30, 2022 42 ​ ​ ​ 0.25 ​ $ 2,715 ​ PRSU Awards The Company’s PRSU program provides for the issuance of PRSUs which will vest based on the Company’s performance measured against the PRSU program’s established performance targets. PRSUs are granted in an amount equal to twice the target number of shares to be issued if the maximum performance metrics are met. The actual number of shares the recipient receives is determined at the end of a three-year performance period based on results achieved versus the Company’s performance goals, and may range from zero to 200% of the target number. The performance goals for PRSUs granted in fiscal 2020, 2021 and 2022 were based on the Company’s compound annual growth rate (“CAGR”) of revenue as measured against the revenue CAGR of the analog semiconductor industry, in each case over the respective three-year performance period. Expense associated with these awards, net of estimated forfeitures, is recorded throughout the year based on an assessment of the expected achievement of the performance targets. If the performance conditions are not achieved, no compensation cost is recognized and any previously recognized compensation is reversed. In February 2022 it was determined that approximately 135,000 shares subject to the PRSUs granted in 2019 vested in aggregate; the shares were released to the Company’s executives in the first quarter of 2022. A summary of PRSUs outstanding as of September 30, 2022 and activity during the nine months ended, is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-Average ​ Aggregate ​ ​ ​ ​ Weighted-Average ​ Remaining ​ Intrinsic ​ ​ Shares ​ Grant Date Fair ​ Contractual Term ​ Value ​ (In thousands) Value Per Share (In years) (In thousands) Outstanding at January 1, 2022 383 ​ $ 53.14 ​ ​ ​ Granted 110 ​ $ 78.96 ​ Vested (135) ​ $ 34.09 ​ Forfeited — ​ ​ — ​ Outstanding at September 30, 2022 358 ​ $ 68.18 1.15 ​ $ 23,050 Outstanding and expected to vest at September 30, 2022 32 ​ ​ ​ 0.25 ​ $ 2,064 ​ RSU Awards A summary of RSUs outstanding as of September 30, 2022 and activity during the nine months ended, is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-Average ​ Aggregate ​ ​ ​ ​ Weighted-Average ​ Remaining ​ Intrinsic ​ ​ Shares ​ Grant Date Fair ​ Contractual Term ​ Value ​ (In thousands) Value Per Share (In years) (In thousands) Outstanding at January 1, 2022 1,144 ​ $ 46.81 ​ ​ ​ Granted 511 ​ $ 76.10 ​ Vested (448) ​ $ 42.83 ​ Forfeited (62) ​ $ 57.91 ​ Outstanding at September 30, 2022 1,145 ​ $ 60.83 1.77 ​ $ 73,675 Outstanding and expected to vest at September 30, 2022 1,058 ​ ​ ​ 1.66 ​ $ 68,041 ​

SIGNIFICANT CUSTOMERS AND GEOGR

SIGNIFICANT CUSTOMERS AND GEOGRAPHIC NET REVENUES	9 Months Ended
	Sep. 30, 2022
Significant Customers and Geographic Net Revenues
SIGNIFICANT CUSTOMERS AND GEOGRAPHIC NET REVENUES	7. SIGNIFICANT CUSTOMERS AND GEOGRAPHIC NET REVENUES: Segment Reporting The Company is organized and operates as one reportable segment, the design, development, manufacture and marketing of integrated circuits and related components for use primarily in the high-voltage power-conversion market. The Company’s chief operating decision maker, the Chief Executive Officer, reviews financial information presented on a consolidated basis for purposes of making operating decisions and assessing financial performance. Customer Concentration The Company’s top ten customers accounted for approximately 72% and 75% of net revenues for the three and nine months ended September 30, 2022, respectively, and 76% and 79%, in the corresponding periods of 2021, respectively. A significant portion of these revenues are attributable to sales of the Company’s products to distributors of electronic components. These distributors sell the Company’s products to a broad, diverse range of end users, including original equipment manufacturers, or OEMs, and merchant power supply manufacturers. Sales to distributors were $103.6 million and $373.3 million in the three and nine months ended September 30, 2022, respectively, and $127.3 million and $397.9 million, in the corresponding periods of 2021, respectively. Direct sales to OEMs and power-supply manufacturers accounted for the remainder. The following customers represented 10% or more of the Company’s net revenues for the respective periods: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended Nine Months Ended ​ ​ September 30, ​ September 30, Customer ​ 2022 ​ 2021 ​ 2022 ​ 2021 Avnet 28 % ​ 27 % 30 % ​ 29 % Honestar Technologies Co., Ltd. ​ * ​ ​ 15 % ​ 12 % ​ 17 % Salcomp Group ​ 12 % ​ * ​ ​ * ​ ​ * ​ ​ * Total customer revenue was less than 10% of net revenues. No other customers accounted for 10% or more of the Company’s net revenues in the periods presented. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash investments and trade receivables. The Company does not have any off-balance-sheet credit exposure related to its customers. As of September 30, 2022, and December 31, 2021, 78% and 86%, respectively, of accounts receivable were concentrated with the Company’s top ten customers. The following customer represented 10% or more of accounts receivable at September 30, 2022 and December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, Customer 2022 ​ 2021 Avnet ​ 32 % ​ 45 % Salcomp Group ​ 13 % ​ * ​ * Total customer revenue was less than 10% of net revenues. No other customers accounted for 10% or more of the Company’s accounts receivable in the periods presented. Geographic Net Revenues The Company markets its products globally through its sales personnel and a worldwide network of independent sales representatives and distributors. Geographic net revenues, based on “bill to” customer locations, for the three and nine months ended September 30, 2022 and 2021, were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30, ​ September 30, (In thousands) 2022 2021 2022 2021 United States of America ​ $ 8,387 ​ $ 5,054 ​ $ 22,862 ​ $ 12,973 Hong Kong/China ​ 80,508 ​ 103,937 ​ 282,508 ​ 344,790 India ​ ​ 9,660 ​ 6,353 ​ 22,765 ​ 17,551 Taiwan ​ 4,895 ​ 7,629 ​ 16,000 ​ 20,432 Korea ​ 10,071 ​ 17,508 ​ 47,298 ​ 43,702 Western Europe (excluding Germany) ​ 10,790 ​ 11,418 ​ 27,164 ​ 27,268 Japan ​ 9,777 ​ 6,959 ​ 27,986 ​ 16,758 Germany ​ 16,601 ​ 9,402 ​ 42,545 ​ 24,064 Other ​ 9,544 ​ 8,516 ​ 37,240 ​ 23,085 Total net revenues ​ $ 160,233 ​ $ 176,776 ​ $ 526,368 ​ $ 530,623 ​

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	9 Months Ended
	Sep. 30, 2022
Equity Abstract
STOCKHOLDERS' EQUITY	8. STOCKHOLDERS’ EQUITY: Common Stock Shares Outstanding ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30, ​ September 30, (In thousands) 2022 2021 2022 2021 Beginning balance ​ ​ 57,134 ​ ​ 60,344 ​ ​ 59,913 ​ ​ 59,910 Common stock issued under employee stock plans ​ 61 ​ 104 ​ 785 ​ 873 Repurchased ​ — ​ (120) ​ (3,503) ​ (455) Ending balance ​ ​ 57,195 ​ ​ 60,328 ​ ​ 57,195 ​ ​ 60,328 ​ Common Stock Repurchases As of December 31, 2021, the Company had $67.3 million remaining under its stock-repurchase program. In January, February and April 2022, the Company’s board of directors authorized the use of an additional $100 million, $50 million and $75 million, respectively, for the repurchase of the Company’s common stock, with repurchases to be executed according to pre-defined price/volume guidelines. In In October 2022, the Company’s board of directors authorized the use of an additional $100 million for the repurchase of our common stock, with repurchases to be executed according to pre-defined price/volume guidelines. Cash Dividends In January 2021, at the end of each quarter in 2022 In January 2022, the Company’s board of directors raised the quarterly cash dividend by an additional $0.03 per share with the declaration of four cash dividends of $0.18 per share (in lieu of the $0.15 per share announced in October 2021) to be paid to stockholders of record at the end of each quarter in 2022. For the three and nine months ended September 30, 2022 and 2021, cash dividends declared and paid were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30, ​ September 30, (In thousands, except per share amounts) 2022 2021 2022 2021 Dividends declared and paid ​ $ 10,293 ​ $ 7,840 ​ $ 31,229 ​ $ 23,552 Dividends declared per common share ​ $ 0.18 ​ $ 0.13 ​ $ 0.54 ​ $ 0.39 ​

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2022
Earnings Per Share Abstract
EARNINGS PER SHARE	9. EARNINGS PER SHARE: Basic earnings per share are calculated by dividing net income by the weighted-average shares of common stock outstanding during the period. Diluted earnings per share are calculated by dividing net income by the weighted-average shares of common stock and dilutive common equivalent shares outstanding during the period. Dilutive common equivalent shares included in this calculation consist of dilutive shares issuable upon the assumed exercise of outstanding common stock options, the assumed vesting of outstanding restricted stock units, the assumed issuance of awards under the stock purchase plan and contingently issuable performance-based awards, as computed using the treasury stock method. A summary of the earnings per share calculation is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30, ​ September 30, (In thousands, except per share amounts) 2022 2021 2022 2021 Basic earnings per share: ​ ​ ​ ​ Net income ​ $ 45,964 ​ $ 42,034 ​ $ 148,036 ​ $ 123,713 Weighted-average common shares ​ 57,172 ​ 60,319 ​ 58,039 ​ 60,350 Basic earnings per share ​ $ 0.80 ​ $ 0.70 ​ $ 2.55 ​ $ 2.05 Diluted earnings per share: (1) ​ ​ ​ ​ Net income ​ $ 45,964 ​ $ 42,034 ​ $ 148,036 ​ $ 123,713 Weighted-average common shares ​ 57,172 ​ 60,319 ​ 58,039 ​ 60,350 Effect of dilutive awards: ​ ​ ​ ​ Employee stock plans ​ 431 ​ 1,044 ​ 596 ​ 1,116 Diluted weighted-average common shares ​ 57,603 ​ 61,363 ​ 58,635 ​ 61,466 Diluted earnings per share ​ $ 0.80 ​ $ 0.69 ​ $ 2.52 ​ $ 2.01 ​ (1) The Company includes the shares underlying performance-based awards in the calculation of diluted earnings per share if the performance conditions have been satisfied as of the end of the reporting period and excludes such shares when the necessary conditions have not been met. The Company has excluded the shares underlying the outstanding performance-based awards in the 2022 and 2021 calculations as the shares were not contingently issuable as of the end of the reporting periods. In the three and nine months ended September 30, 2022, and 2021, no outstanding stock awards were determined to be anti-dilutive and therefore excluded from the computation of diluted earnings per share.

PROVISION FOR INCOME TAXES

PROVISION FOR INCOME TAXES	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure Abstract
PROVISION FOR INCOME TAXES	10. PROVISION FOR INCOME TAXES: Income-tax expense includes a provision for federal, state and foreign taxes based on the annual estimated effective tax rate applicable to the Company and its subsidiaries, adjusted for certain discrete items which are fully recognized in the period they occur. Accordingly, the interim effective tax rate may not be reflective of the annual estimated effective tax rate. The Company’s effective tax rates for the three and nine months ended September 30, 2022, were 6.9% and 8.5%, respectively, and 8.2% and 6.1%, in the corresponding periods of 2021, respectively. The effective tax rate in these periods was lower than the statutory federal income-tax rate of 21% due to the geographic distribution of the Company’s world-wide earnings in lower-tax jurisdictions and federal research tax credits. Additionally, in the nine months ended September 30, 2021, the Company’s effective tax rate was favorably impacted by a discrete item associated with the release of an unrecognized tax benefit. These benefits were partially offset by foreign income subject to U.S. tax, known as global intangible low-taxed income. The Company’s primary jurisdiction where foreign earnings are derived is the Cayman Islands, which is a non-taxing jurisdiction. Income earned in other foreign jurisdictions was not material. The Company has not been granted any incentivized tax rates and does not operate under any tax holidays in any jurisdiction. As of September 30, 2022, the Company maintained a valuation allowance on its California deferred tax assets, New Jersey deferred tax assets and deferred tax assets relating to tax credits in Canada. Determining the consolidated provision for income-tax expense, income-tax liabilities and deferred tax assets and liabilities involves judgment. The Company calculates and provides for income taxes in each of the tax jurisdictions in which it operates, which involves estimating current tax exposures as well as making judgments regarding the recoverability of deferred tax assets in each jurisdiction. The estimates used could differ from actual results, which may have a significant impact on operating results in future periods.

COMMITMENTS

COMMITMENTS	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure Abstract
COMMITMENTS	11. COMMITMENTS: Supplier Agreements Under the terms of the Company’s wafer-supply agreements with Seiko Epson Corporation ("Epson"), and ROHM Lapis Semiconductor Co., Ltd. ("Lapis"), the wafers purchased from these suppliers are priced in U.S. dollars, with mutual sharing of the impact of fluctuations in the exchange rate between the Japanese yen and the U.S. dollar on future purchases. Each year, the Company’s management and these two suppliers review and negotiate future pricing; the negotiated pricing is denominated in U.S. dollars but is subject to contractual exchange rate provisions. The fluctuation in the exchange rate is shared equally between the Company and each of these suppliers on future purchases.

LEGAL PROCEEDINGS AND CONTINGEN

LEGAL PROCEEDINGS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure Abstract
LEGAL PROCEEDINGS AND CONTINGENCIES	12. LEGAL PROCEEDINGS AND CONTINGENCIES: From time to time in the ordinary course of business, the Company becomes involved in lawsuits, or customers and distributors may make claims against the Company. In accordance with ASC 450-10, Contingencies On May 16, 2022, the Company entered into a binding settlement agreement (the “Settlement Agreement”) with Opticurrent, LLC, pursuant to which the parties agreed to end all outstanding legal disputes. Neither party granted any licenses to the other. Pursuant to the Settlement Agreement, the Company and Opticurrent have dismissed, withdrawn, and/or terminated all legal proceedings between the parties and the Company agreed to and subsequently paid Opticurrent $2.9 million. On January 6, 2020, the Company filed a complaint against CogniPower LLC in the United States District Court for the District of Delaware for infringement of two of the Company’s patents and seeking a declaration of non-infringement with respect to patents that CogniPower had charged the Company’s customers with infringing , so CogniPower’s claims for infringement initially went forward separately in their lawsuit against the Company’s customers in the District of Delaware, but the Company filed a motion to intervene in that lawsuit and received a ruling allowing the Company to intervene in CogniPower’s customer lawsuit on February 1, 2021, and the parties thereafter agreed to dismiss the Company’s separate lawsuit against CogniPower. The remaining case is currently stayed, but the Company believes it has strong claims and defenses, and intends to vigorously defend itself against CogniPower’s claims against the Company’s technology, with appeals to follow if necessary. On October 31, 2022, Waverly Licensing LLC filed a complaint against the Company in the United States District Court for the Western District of Texas. In its complaint, Waverly alleges that the Company is infringing one patent pertaining to charging a battery-operated device. The lawsuit is in its earliest stages, but the Company believes it has strong claims and defenses, and intends to vigorously defend itself against Waverly’s claims against the Company’s technology, with appeals to follow if necessary. The Company is unable to predict the outcome of legal proceedings with certainty, and there can be no assurance that the Company will prevail in the above-mentioned unsettled litigations. These litigations, whether or not determined in the Company’s favor or settled, will be costly and will divert the efforts and attention of the Company’s management and technical personnel from normal business operations, potentially causing a material adverse effect on the business, financial condition and operating results. Currently, the Company is not able to estimate a loss or a range of loss for the ongoing litigations disclosed above, however adverse determinations in litigation could result in monetary losses, the loss of proprietary rights, subject the Company to significant liabilities, require the Company to seek licenses from third parties or prevent the Company from licensing the technology, any of which could have a material adverse effect on the Company’s business, financial condition and operating results.

INDEMNIFICATIONS

INDEMNIFICATIONS	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure Abstract
INDEMNIFICATIONS	13. INDEMNIFICATIONS: The Company sells products to its distributors under contracts, collectively referred to as Distributor Sales Agreements (“DSA”). Each DSA contains the relevant terms of the contractual arrangement with the distributor, and generally includes certain provisions for indemnifying the distributor against losses, expenses, and liabilities from damages that may be awarded against the distributor in the event the Company’s products are found to infringe upon a patent, copyright, trademark, or other proprietary right of a third party (“Customer Indemnification”). The DSA generally limits the scope of and remedies for the Customer Indemnification obligations in a variety of industry-standard respects, including, but not limited to, limitations based on time and geography, and a right to replace an infringing product. The Company also, from time to time, has granted a specific indemnification right to individual customers. The Company believes its internal development processes and other policies and practices limit its exposure related to such indemnifications. In addition, the Company requires its employees to sign a proprietary information and inventions agreement, which assigns the rights to its employees’ development work to the Company. To date, the Company has not had to reimburse any of its distributors or customers for any losses related to these indemnifications and no material claims were outstanding as of September 30, 2022. For several reasons, including the lack of prior indemnification claims and the lack of a monetary liability limit for certain infringement cases, the Company cannot determine the maximum amount of potential future payments, if any, related to such indemnifications.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES AND RECENT ACCOUNTING PRONOUNCEMENTS (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies And Recent Accounting Pronouncements Abstract
Significant Accounting Policies and Estimates	Significant Accounting Policies and Estimates No material changes have been made to the Company’s significant accounting policies disclosed in Note 2, Significant Accounting Policies and Recent Accounting Pronouncements
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Company has considered all recent accounting pronouncements issued, but not yet effective, and does not expect any to have a material effect on the Company’s condensed consolidated financial statements.

COMPONENTS OF THE COMPANY'S C_2

COMPONENTS OF THE COMPANY'S CONDENSED CONSOLIDATED BALANCE SHEETS (Tables)	9 Months Ended
	Sep. 30, 2022
Balance Sheet Related Disclosures Abstract
Schedule of Accounts Receivable	Accounts Receivable ​ ​ ​ ​ ​ ​ ​ ​ September 30, December 31, (In thousands) ​ 2022 ​ 2021 Accounts receivable trade ​ $ 84,947 ​ $ 87,503 Allowance for ship and debit ​ (63,578) ​ (41,599) Allowance for stock rotation and rebate ​ (4,159) ​ (4,066) Allowance for credit losses ​ ​ (1,135) ​ ​ (445) Total ​ $ 16,075 ​ $ 41,393
Schedule of Allowance for Credit Losses	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for Credit Losses ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30, ​ September 30, (In thousands) ​ 2022 2021 2022 2021 Beginning balance ​ $ (704) ​ $ (518) ​ $ (445) ​ $ (427) Provision for credit loss expense ​ (967) ​ (325) ​ (1,585) ​ (902) Receivables written off ​ 49 ​ 74 ​ 49 ​ 74 Recoveries collected ​ 487 ​ 325 ​ 846 ​ 811 Ending balance ​ $ (1,135) ​ $ (444) ​ $ (1,135) ​ $ (444)
Schedule of Inventories	Inventories ​ ​ ​ ​ ​ ​ ​ ​ September 30, December 31, (In thousands) ​ 2022 ​ 2021 Raw materials ​ $ 53,068 ​ $ 24,131 Work-in-process ​ 16,322 ​ 31,788 Finished goods ​ 50,702 ​ 43,347 Total ​ $ 120,092 ​ $ 99,266
Schedule Of Intangible Assets	Intangible Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2022 ​ December 31, 2021 ​ ​ ​ Accumulated ​ ​ ​ ​ Accumulated ​ ​ (In thousands) ​ Gross ​ Amortization ​ Net ​ Gross ​ Amortization ​ Net Domain name ​ $ 1,261 ​ $ — ​ $ 1,261 ​ $ 1,261 ​ $ — ​ $ 1,261 Developed technology ​ 37,960 ​ (33,049) ​ 4,911 ​ 37,960 ​ (31,603) ​ 6,357 Customer relationships ​ 16,700 ​ (16,700) ​ — ​ 16,700 ​ (16,458) ​ 242 Technology licenses ​ 1,926 ​ (957) ​ 969 ​ 1,926 ​ (774) ​ 1,152 Total intangible assets ​ $ 57,847 ​ $ (50,706) ​ $ 7,141 ​ $ 57,847 ​ $ (48,835) ​ $ 9,012
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	The estimated future amortization expense related to finite-lived intangible assets at September 30, 2022, is as follows: ​ ​ ​ ​ ​ Estimated ​ ​ Amortization Fiscal Year ​ (In thousands) 2022 (remaining three months) ​ $ 544 2023 ​ 2,173 2024 ​ 1,279 2025 ​ 832 2026 ​ 687 Thereafter ​ 365 Total ​ $ 5,880
Schedule of Accumulated Other Comprehensive Loss	Changes in accumulated other comprehensive loss for the three and nine months ended September 30, 2022 and 2021, were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized Gains ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ and Losses on ​ Defined Benefit ​ Foreign Currency ​ ​ ​ ​ Marketable Securities ​ Pension Items ​ Items ​ Total ​ Three Months Ended ​ Three Months Ended ​ Three Months Ended ​ Three Months Ended ​ September 30, ​ September 30, ​ September 30, ​ September 30, (In thousands) 2022 2021 2022 2021 2022 2021 2022 2021 Beginning balance $ (6,506) ​ $ (21) ​ $ (633) ​ $ (1,664) ​ $ (2,921) ​ $ (1,470) ​ $ (10,060) ​ $ (3,155) Other comprehensive income (loss) before reclassifications (731) ​ 7 ​ — ​ — ​ (1,044) ​ (154) ​ (1,775) ​ (147) Amounts reclassified from accumulated other comprehensive loss — ​ — ​ 18 (1) 53 (1) — ​ — ​ 18 ​ 53 Net-current period other comprehensive income (loss) (731) ​ 7 ​ 18 ​ 53 ​ (1,044) ​ (154) ​ (1,757) ​ (94) Ending balance $ (7,237) ​ $ (14) ​ $ (615) ​ $ (1,611) ​ $ (3,965) ​ $ (1,624) ​ $ (11,817) ​ $ (3,249) ​ (1) This component of accumulated other comprehensive income (loss) is included in the computation of net periodic pension cost for the three months ended September 30, 2022 and 2021. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized Gains ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ and Losses on ​ Defined Benefit ​ Foreign Currency ​ ​ ​ ​ Marketable Securities ​ Pension Items ​ Items ​ Total ​ Nine Months Ended ​ Nine Months Ended ​ Nine Months Ended ​ Nine Months Ended ​ September 30, ​ September 30, ​ September 30, ​ September 30, (In thousands) 2022 2021 2022 ​ 2021 2022 2021 2022 2021 Beginning balance $ (1,165) ​ $ 890 ​ $ (674) ​ $ (1,641) ​ $ (1,898) ​ $ (1,412) ​ $ (3,737) ​ $ (2,163) Other comprehensive income (loss) before reclassifications (6,072) ​ (904) ​ — ​ — ​ (2,067) ​ (212) ​ (8,139) ​ (1,116) Amounts reclassified from accumulated other comprehensive loss — ​ — ​ 59 (1) 30 (1) — ​ — ​ 59 ​ 30 Net-current period other comprehensive income (loss) (6,072) ​ (904) ​ 59 ​ 30 ​ (2,067) ​ (212) ​ (8,080) ​ (1,086) Ending balance $ (7,237) ​ $ (14) ​ $ (615) ​ $ (1,611) ​ $ (3,965) ​ $ (1,624) ​ $ (11,817) ​ $ (3,249) (1) This component of accumulated other comprehensive income (loss) is included in the computation of net periodic pension cost for the nine months ended September 30, 2022 and 2021.

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures Abstract
Fair value of cash equivalents and marketable securities	The fair-value hierarchy of the Company’s cash equivalents and marketable securities at September 30, 2022 and December 31, 2021, was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurement at ​ ​ September 30, 2022 ​ ​ ​ Quoted Prices in ​ ​ ​ ​ ​ ​ ​ Active Markets for ​ Significant Other ​ ​ ​ ​ ​ Identical Assets ​ Observable Inputs (In thousands) ​ Total Fair Value ​ (Level 1) ​ (Level 2) Commercial paper ​ $ 70,654 ​ $ — ​ $ 70,654 Corporate securities ​ ​ 229,754 ​ ​ — ​ ​ 229,754 Money market funds ​ 3,841 ​ 3,841 ​ — Total ​ $ 304,249 ​ $ 3,841 ​ $ 300,408 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurement at ​ ​ December 31, 2021 ​ ​ ​ Quoted Prices in ​ ​ ​ ​ ​ ​ ​ Active Markets for ​ Significant Other ​ ​ ​ ​ ​ Identical Assets ​ Observable Inputs (In thousands) ​ Total Fair Value ​ (Level 1) ​ (Level 2) Commercial paper ​ $ 172,237 ​ $ — ​ $ 172,237 Corporate securities ​ ​ 282,540 ​ ​ — ​ ​ 282,540 Money market funds ​ 29,793 ​ 29,793 ​ — Total ​ $ 484,570 ​ $ 29,793 ​ $ 454,777

MARKETABLE SECURITIES (Tables)

MARKETABLE SECURITIES (Tables)	9 Months Ended
	Sep. 30, 2022
Marketable Securities Abstract
Available-for-sale Securities	Amortized cost and estimated fair market value of marketable securities classified as available-for-sale (excluding cash equivalents) at September 30, 2022, were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized ​ Gross Unrealized ​ Estimated Fair (In thousands) Cost Gains Losses Market Value Investments due in 3 months or less: ​ ​ ​ ​ Corporate securities ​ $ 8,412 ​ $ — ​ $ (36) ​ $ 8,376 Total ​ 8,412 ​ — ​ (36) ​ 8,376 Investments due in 4-12 months: ​ ​ ​ ​ Corporate securities ​ 159,313 ​ — ​ (4,369) ​ 154,944 Total ​ 159,313 ​ — ​ (4,369) ​ 154,944 Investments due in 12 months or greater: ​ ​ ​ ​ Corporate securities ​ 69,266 ​ — ​ (2,832) ​ 66,434 Total ​ ​ 69,266 ​ — ​ ​ (2,832) ​ 66,434 Total marketable securities ​ $ 236,991 ​ $ — ​ $ (7,237) ​ $ 229,754 Amortized cost and estimated fair market value of marketable securities classified as available-for-sale (excluding cash equivalents) at December 31, 2021, were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized ​ Gross Unrealized ​ Estimated Fair (In thousands) Cost Gains Losses Market Value Investments due in 3 months or less: ​ ​ ​ ​ Commercial paper ​ $ 89,965 ​ $ — ​ $ — ​ $ 89,965 Corporate securities ​ ​ 7,285 ​ ​ — ​ ​ (3) ​ ​ 7,282 Total ​ 97,250 ​ — ​ (3) ​ 97,247 Investments due in 4-12 months: ​ ​ ​ ​ Corporate securities ​ 25,054 ​ — ​ (42) ​ 25,012 Total ​ 25,054 ​ — ​ (42) ​ 25,012 Investments due in 12 months or greater: ​ ​ ​ ​ Corporate securities ​ ​ 251,096 ​ 21 ​ (1,141) ​ 249,976 Total ​ 251,096 ​ 21 ​ (1,141) ​ 249,976 Total marketable securities ​ $ 373,400 ​ $ 21 ​ $ (1,186) ​ $ 372,235
Available-for-sale Securities in an Unrealized Loss Position	The following table summarizes marketable securities classified as available-for-sale (excluding cash equivalents) in a continuous unrealized loss position for which an allowance for credit losses was not recorded at September 30, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less Than 12 Months ​ 12 Months or Longer ​ Total ​ Estimated Gross Estimated Gross Estimated Gross ​ ​ Fair Market ​ Unrealized ​ Fair Market ​ Unrealized ​ Fair Market ​ Unrealized (In thousands) ​ Value ​ Losses ​ Value ​ Losses ​ Value ​ Losses Corporate securities ​ $ 178,374 ​ $ (5,520) ​ $ 51,379 ​ $ (1,717) ​ $ 229,753 ​ $ (7,237) Total marketable securities ​ $ 178,374 ​ $ (5,520) ​ $ 51,379 ​ $ (1,717) ​ $ 229,753 ​ $ (7,237)

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based Compensation Expense	The following table summarizes the stock-based compensation expense recognized in accordance with ASC 718-10 for the three and nine months ended September 30, 2022 and 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30, ​ September 30, (In thousands) 2022 2021 2022 2021 Cost of revenues ​ $ 172 ​ $ 664 ​ $ 727 ​ $ 1,935 Research and development ​ 2,334 ​ 3,055 ​ 7,712 ​ 8,605 Sales and marketing ​ 1,267 ​ 2,201 ​ 4,392 ​ 5,540 General and administrative ​ (755) ​ 3,725 ​ 2,879 ​ 11,245 Total stock-based compensation expense ​ $ 3,018 ​ $ 9,645 ​ $ 15,710 ​ $ 27,325
Performance Based Awards (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of Share-based Compensation, Restricted Stock Units Award Activity	A summary of PSUs outstanding as of September 30, 2022 and activity during the nine months ended, is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-Average ​ ​ ​ ​ ​ ​ ​ Weighted-Average ​ Remaining ​ Aggregate ​ ​ Shares ​ Grant Date Fair ​ Contractual Term ​ Intrinsic Value ​ (In thousands) Value Per Share (In years) (In thousands) Outstanding at January 1, 2022 104 ​ $ 84.47 ​ ​ ​ Granted 119 ​ $ 79.91 ​ ​ Vested (104) ​ $ 84.47 ​ Forfeited (3) ​ $ 79.23 ​ Outstanding at September 30, 2022 116 ​ $ 79.93 0.25 ​ $ 7,478 Outstanding and expected to vest at September 30, 2022 42 ​ ​ ​ 0.25 ​ $ 2,715
Long-Term Performance-Based Awards (PRSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of Share-based Compensation, Restricted Stock Units Award Activity	A summary of PRSUs outstanding as of September 30, 2022 and activity during the nine months ended, is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-Average ​ Aggregate ​ ​ ​ ​ Weighted-Average ​ Remaining ​ Intrinsic ​ ​ Shares ​ Grant Date Fair ​ Contractual Term ​ Value ​ (In thousands) Value Per Share (In years) (In thousands) Outstanding at January 1, 2022 383 ​ $ 53.14 ​ ​ ​ Granted 110 ​ $ 78.96 ​ Vested (135) ​ $ 34.09 ​ Forfeited — ​ ​ — ​ Outstanding at September 30, 2022 358 ​ $ 68.18 1.15 ​ $ 23,050 Outstanding and expected to vest at September 30, 2022 32 ​ ​ ​ 0.25 ​ $ 2,064
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of Share-based Compensation, Restricted Stock Units Award Activity	A summary of RSUs outstanding as of September 30, 2022 and activity during the nine months ended, is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted-Average ​ Aggregate ​ ​ ​ ​ Weighted-Average ​ Remaining ​ Intrinsic ​ ​ Shares ​ Grant Date Fair ​ Contractual Term ​ Value ​ (In thousands) Value Per Share (In years) (In thousands) Outstanding at January 1, 2022 1,144 ​ $ 46.81 ​ ​ ​ Granted 511 ​ $ 76.10 ​ Vested (448) ​ $ 42.83 ​ Forfeited (62) ​ $ 57.91 ​ Outstanding at September 30, 2022 1,145 ​ $ 60.83 1.77 ​ $ 73,675 Outstanding and expected to vest at September 30, 2022 1,058 ​ ​ ​ 1.66 ​ $ 68,041

SIGNIFICANT CUSTOMERS AND GEO_2

SIGNIFICANT CUSTOMERS AND GEOGRAPHIC NET REVENUES (Tables)	9 Months Ended
	Sep. 30, 2022
Concentration Risk [Line Items]
Geographic Net Revenues	The Company markets its products globally through its sales personnel and a worldwide network of independent sales representatives and distributors. Geographic net revenues, based on “bill to” customer locations, for the three and nine months ended September 30, 2022 and 2021, were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30, ​ September 30, (In thousands) 2022 2021 2022 2021 United States of America ​ $ 8,387 ​ $ 5,054 ​ $ 22,862 ​ $ 12,973 Hong Kong/China ​ 80,508 ​ 103,937 ​ 282,508 ​ 344,790 India ​ ​ 9,660 ​ 6,353 ​ 22,765 ​ 17,551 Taiwan ​ 4,895 ​ 7,629 ​ 16,000 ​ 20,432 Korea ​ 10,071 ​ 17,508 ​ 47,298 ​ 43,702 Western Europe (excluding Germany) ​ 10,790 ​ 11,418 ​ 27,164 ​ 27,268 Japan ​ 9,777 ​ 6,959 ​ 27,986 ​ 16,758 Germany ​ 16,601 ​ 9,402 ​ 42,545 ​ 24,064 Other ​ 9,544 ​ 8,516 ​ 37,240 ​ 23,085 Total net revenues ​ $ 160,233 ​ $ 176,776 ​ $ 526,368 ​ $ 530,623
Net revenue
Concentration Risk [Line Items]
Schedules of Concentration of Risk, by Risk Factor	The following customers represented 10% or more of the Company’s net revenues for the respective periods: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended Nine Months Ended ​ ​ September 30, ​ September 30, Customer ​ 2022 ​ 2021 ​ 2022 ​ 2021 Avnet 28 % ​ 27 % 30 % ​ 29 % Honestar Technologies Co., Ltd. ​ * ​ ​ 15 % ​ 12 % ​ 17 % Salcomp Group ​ 12 % ​ * ​ ​ * ​ ​ * ​ ​ * Total customer revenue was less than 10% of net revenues.
Accounts receivable
Concentration Risk [Line Items]
Schedules of Concentration of Risk, by Risk Factor	The following customer represented 10% or more of accounts receivable at September 30, 2022 and December 31, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, Customer 2022 ​ 2021 Avnet ​ 32 % ​ 45 % Salcomp Group ​ 13 % ​ * ​ * Total customer revenue was less than 10% of net revenues.

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	9 Months Ended
	Sep. 30, 2022
Equity Abstract
Schedule of Common Stock Shares Outstanding	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30, ​ September 30, (In thousands) 2022 2021 2022 2021 Beginning balance ​ ​ 57,134 ​ ​ 60,344 ​ ​ 59,913 ​ ​ 59,910 Common stock issued under employee stock plans ​ 61 ​ 104 ​ 785 ​ 873 Repurchased ​ — ​ (120) ​ (3,503) ​ (455) Ending balance ​ ​ 57,195 ​ ​ 60,328 ​ ​ 57,195 ​ ​ 60,328
Schedule of Dividends Declared and Paid	For the three and nine months ended September 30, 2022 and 2021, cash dividends declared and paid were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30, ​ September 30, (In thousands, except per share amounts) 2022 2021 2022 2021 Dividends declared and paid ​ $ 10,293 ​ $ 7,840 ​ $ 31,229 ​ $ 23,552 Dividends declared per common share ​ $ 0.18 ​ $ 0.13 ​ $ 0.54 ​ $ 0.39

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share Abstract
Earnings per share calculation	A summary of the earnings per share calculation is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30, ​ September 30, (In thousands, except per share amounts) 2022 2021 2022 2021 Basic earnings per share: ​ ​ ​ ​ Net income ​ $ 45,964 ​ $ 42,034 ​ $ 148,036 ​ $ 123,713 Weighted-average common shares ​ 57,172 ​ 60,319 ​ 58,039 ​ 60,350 Basic earnings per share ​ $ 0.80 ​ $ 0.70 ​ $ 2.55 ​ $ 2.05 Diluted earnings per share: (1) ​ ​ ​ ​ Net income ​ $ 45,964 ​ $ 42,034 ​ $ 148,036 ​ $ 123,713 Weighted-average common shares ​ 57,172 ​ 60,319 ​ 58,039 ​ 60,350 Effect of dilutive awards: ​ ​ ​ ​ Employee stock plans ​ 431 ​ 1,044 ​ 596 ​ 1,116 Diluted weighted-average common shares ​ 57,603 ​ 61,363 ​ 58,635 ​ 61,466 Diluted earnings per share ​ $ 0.80 ​ $ 0.69 ​ $ 2.52 ​ $ 2.01 ​ (1) The Company includes the shares underlying performance-based awards in the calculation of diluted earnings per share if the performance conditions have been satisfied as of the end of the reporting period and excludes such shares when the necessary conditions have not been met. The Company has excluded the shares underlying the outstanding performance-based awards in the 2022 and 2021 calculations as the shares were not contingently issuable as of the end of the reporting periods.

COMPONENTS OF THE COMPANY'S C_3

COMPONENTS OF THE COMPANY'S CONDENSED CONSOLIDATED BALANCE SHEETS Accounts Receivable (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
Balance Sheet Related Disclosures Abstract
Accounts receivable trade	$ 84,947		$ 87,503
Allowance for ship and debit	(63,578)		(41,599)
Allowance for stock rotation and rebate	(4,159)		(4,066)
Allowance for credit losses	(1,135)	$ (704)	(445)	$ (444)	$ (518)	$ (427)
Total	$ 16,075		$ 41,393

COMPONENTS OF THE COMPANY'S C_4

COMPONENTS OF THE COMPANY'S CONDENSED CONSOLIDATED BALANCE SHEETS Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Balance Sheet Related Disclosures Abstract
Beginning Balance	$ (704)	$ (518)	$ (445)	$ (427)
Provision for credit loss expense	(967)	(325)	(1,585)	(902)
Receivables written off	49	74	49	74
Recoveries collected	487	325	846	811
Ending Balance	$ (1,135)	$ (444)	$ (1,135)	$ (444)

COMPONENTS OF THE COMPANY'S C_5

COMPONENTS OF THE COMPANY'S CONDENSED CONSOLIDATED BALANCE SHEETS Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Balance Sheet Related Disclosures Abstract
Raw materials	$ 53,068	$ 24,131
Work-in-process	16,322	31,788
Finished goods	50,702	43,347
Total	$ 120,092	$ 99,266

COMPONENTS OF THE COMPANY'S C_6

COMPONENTS OF THE COMPANY'S CONDENSED CONSOLIDATED BALANCE SHEETS Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Schedule of Intangible Assets Table [Line Items]
Intangible Assets, Gross	$ 57,847	$ 57,847
Accumulated Amortization	(50,706)	(48,835)
Total	5,880
Total Intangible Assets, Net	7,141	9,012
Developed technology
Schedule of Intangible Assets Table [Line Items]
Finite-Lived Intangible Assets, Gross	37,960	37,960
Accumulated Amortization	(33,049)	(31,603)
Total	4,911	6,357
Customer relationships
Schedule of Intangible Assets Table [Line Items]
Finite-Lived Intangible Assets, Gross	16,700	16,700
Accumulated Amortization	(16,700)	(16,458)
Total	0	242
Technology licenses
Schedule of Intangible Assets Table [Line Items]
Finite-Lived Intangible Assets, Gross	1,926	1,926
Accumulated Amortization	(957)	(774)
Total	969	1,152
Domain name
Schedule of Intangible Assets Table [Line Items]
Indefinite-Lived Intangible Assets	1,261	1,261
Accumulated Amortization	$ 0	$ 0

COMPONENTS OF THE COMPANY'S C_7

COMPONENTS OF THE COMPANY'S CONDENSED CONSOLIDATED BALANCE SHEETS Future Amortization Expense (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2022 (remaining three months)	$ 544
2023	2,173
2024	1,279
2025	832
2026	687
Thereafter	365
Total	$ 5,880

COMPONENTS OF THE COMPANY'S C_8

COMPONENTS OF THE COMPANY'S CONDENSED CONSOLIDATED BALANCE SHEETS (Changes in Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ (10,060)	$ (3,155)	$ (3,737)	$ (2,163)
Other comprehensive income (loss) before reclassifications	(1,775)	(147)	(8,139)	(1,116)
Amounts reclassified from accumulated other comprehensive loss	18	53	59	30
Net-current period other comprehensive income (loss)	(1,757)	(94)	(8,080)	(1,086)
Ending balance	(11,817)	(3,249)	(11,817)	(3,249)
Unrealized Gains and Losses on Marketable Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(6,506)	(21)	(1,165)	890
Other comprehensive income (loss) before reclassifications	(731)	7	(6,072)	(904)
Amounts reclassified from accumulated other comprehensive loss	0	0	0	0
Net-current period other comprehensive income (loss)	(731)	7	(6,072)	(904)
Ending balance	(7,237)	(14)	(7,237)	(14)
Defined Benefit Pension Items
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(633)	(1,664)	(674)	(1,641)
Other comprehensive income (loss) before reclassifications	0	0	0	0
Amounts reclassified from accumulated other comprehensive loss	18	53	59	30
Net-current period other comprehensive income (loss)	18	53	59	30
Ending balance	(615)	(1,611)	(615)	(1,611)
Foreign Currency Items
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(2,921)	(1,470)	(1,898)	(1,412)
Other comprehensive income (loss) before reclassifications	(1,044)	(154)	(2,067)	(212)
Amounts reclassified from accumulated other comprehensive loss	0	0	0	0
Net-current period other comprehensive income (loss)	(1,044)	(154)	(2,067)	(212)
Ending balance	$ (3,965)	$ (1,624)	$ (3,965)	$ (1,624)

FAIR VALUE MEASUREMENTS Fair Va

FAIR VALUE MEASUREMENTS Fair Value Measurement (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments at Fair Value	$ 304,249	$ 484,570
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at Fair Value	70,654	172,237
Corporate securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at Fair Value	229,754	282,540
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at Fair Value	3,841	29,793
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments at Fair Value	3,841	29,793
Quoted Prices in Active Markets for Identical Assets (Level 1) | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at Fair Value	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at Fair Value	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at Fair Value	3,841	29,793
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments at Fair Value	300,408	454,777
Significant Other Observable Inputs (Level 2) | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at Fair Value	70,654	172,237
Significant Other Observable Inputs (Level 2) | Corporate securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at Fair Value	229,754	282,540
Significant Other Observable Inputs (Level 2) | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at Fair Value	$ 0	$ 0

MARKETABLE SECURITIES Marketabl

MARKETABLE SECURITIES Marketable Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Interest receivable	$ 1,300	$ 1,500
Amortized Cost	236,991	373,400
Gross Unrealized Gains	0	21
Gross Unrealized Losses	(7,237)	(1,186)
Estimated Fair Market Value	229,754	372,235
Investments due in 3 months or less:
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	8,412	97,250
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(36)	(3)
Estimated Fair Market Value	8,376	97,247
Investments due in 4-12 months:
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	159,313	25,054
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(4,369)	(42)
Estimated Fair Market Value	154,944	25,012
Investments due in 12 months or greater:
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	69,266	251,096
Gross Unrealized Gains	0	21
Gross Unrealized Losses	(2,832)	(1,141)
Estimated Fair Market Value	66,434	249,976
Commercial paper | Investments due in 3 months or less:
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		89,965
Gross Unrealized Gains		0
Gross Unrealized Losses		0
Estimated Fair Market Value		89,965
Corporate securities | Investments due in 3 months or less:
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	8,412	7,285
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(36)	(3)
Estimated Fair Market Value	8,376	7,282
Corporate securities | Investments due in 4-12 months:
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	159,313	25,054
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(4,369)	(42)
Estimated Fair Market Value	154,944	25,012
Corporate securities | Investments due in 12 months or greater:
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	69,266	251,096
Gross Unrealized Gains	0	21
Gross Unrealized Losses	(2,832)	(1,141)
Estimated Fair Market Value	$ 66,434	$ 249,976

MARKETABLE SECURITIES - Continu

MARKETABLE SECURITIES - Continuous Unrealized Loss Position (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Debt Securities, Available-for-sale [Line Items]
Less Than 12 Months Estimated Fair Market Value, Total marketable securities	$ 178,374
Less Than 12 Months Gross Unrealized Losses, Total marketable securities	(5,520)
12 Months or Longer Estimated Fair Market Value, Total marketable securities	51,379
12 Months or Longer Gross Unrealized Losses, Total marketable securities	(1,717)
Total Estimated Fair Market Value, Total marketable securities	229,753
Total Gross Unrealized Losses, Total marketable securities	(7,237)
Corporate securities
Debt Securities, Available-for-sale [Line Items]
Less Than 12 Months Estimated Fair Market Value, Total marketable securities	178,374
Less Than 12 Months Gross Unrealized Losses, Total marketable securities	(5,520)
12 Months or Longer Estimated Fair Market Value, Total marketable securities	51,379
12 Months or Longer Gross Unrealized Losses, Total marketable securities	(1,717)
Total Estimated Fair Market Value, Total marketable securities	229,753
Total Gross Unrealized Losses, Total marketable securities	$ (7,237)

MARKETABLE SECURITIES - Unreali

MARKETABLE SECURITIES - Unrealized Losses (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Marketable Securities Abstract
Unrealized losses on marketable securities	$ 0	$ 0	$ 0	$ 0

STOCK-BASED COMPENSATION Stock-

STOCK-BASED COMPENSATION Stock-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Stock-based compensation expense for stock options, stock awards and employee stock purchases included in operations:
Stock-based compensation expense	$ 3,018	$ 9,645	$ 15,710	$ 27,325
Restricted Stock Units (RSUs)
Stock-based compensation expense for stock options, stock awards and employee stock purchases included in operations:
Stock-based compensation expense	6,400	5,000	17,300	15,000
Performance Based Awards and Long Term Performance based Units
Stock-based compensation expense for stock options, stock awards and employee stock purchases included in operations:
Stock-based compensation expense	(3,900)	4,200	(2,900)	10,900
Employee Stock Purchase Plan
Stock-based compensation expense for stock options, stock awards and employee stock purchases included in operations:
Stock-based compensation expense	500	400	1,300	1,400
Cost of revenues
Stock-based compensation expense for stock options, stock awards and employee stock purchases included in operations:
Stock-based compensation expense	172	664	727	1,935
Research and development
Stock-based compensation expense for stock options, stock awards and employee stock purchases included in operations:
Stock-based compensation expense	2,334	3,055	7,712	8,605
Sales and marketing
Stock-based compensation expense for stock options, stock awards and employee stock purchases included in operations:
Stock-based compensation expense	1,267	2,201	4,392	5,540
General and administrative
Stock-based compensation expense for stock options, stock awards and employee stock purchases included in operations:
Stock-based compensation expense	$ (755)	$ 3,725	$ 2,879	$ 11,245

STOCK-BASED COMPENSATION Perfor

STOCK-BASED COMPENSATION Performance-based Awards and Restricted Stock Units (Details) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($) $ / shares shares
Restricted Stock Units (RSUs)
Shares
Outstanding, shares at beginning of the period	1,144,000
Granted, shares	511,000
Vested, shares	(448,000)
Forfeited, shares	(62,000)
Outstanding, shares at ending of the period	1,145,000
Outstanding and expected to vest at ending of the period	1,058,000
Weighted- Average Grant Date Fair Value Per Share (in dollars per share)
Outstanding, weighted-average grant date fair value per share, beginning of period | $ / shares	$ 46.81
Granted | $ / shares	76.10
Vested | $ / shares	42.83
Forfeited | $ / shares	57.91
Outstanding, weighted-average grant date fair value per share, end of period | $ / shares	$ 60.83
Weighted-Average Remaining Contractual Term (In years)
Outstanding, weighted-average remaining contractual term (in years)	1 year 9 months 7 days
Outstanding and expected to vest, weighted-average remaining contractual term (in years)	1 year 7 months 28 days
Aggregate Intrinsic Value (In thousands)
Outstanding, Aggregate Intrinsic Value | $	$ 73,675
Outstanding and expected to vest, aggregate intrinsic value | $	$ 68,041
Long-Term Performance-Based Awards (PRSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance based period	3 years
Shares
Outstanding, shares at beginning of the period	383,000
Granted, shares	110,000
Vested, shares	(135,000)
Outstanding, shares at ending of the period	358,000
Outstanding and expected to vest at ending of the period	32,000
Weighted- Average Grant Date Fair Value Per Share (in dollars per share)
Outstanding, weighted-average grant date fair value per share, beginning of period | $ / shares	$ 53.14
Granted | $ / shares	78.96
Vested | $ / shares	34.09
Outstanding, weighted-average grant date fair value per share, end of period | $ / shares	$ 68.18
Weighted-Average Remaining Contractual Term (In years)
Outstanding, weighted-average remaining contractual term (in years)	1 year 1 month 24 days
Outstanding and expected to vest, weighted-average remaining contractual term (in years)	3 months
Aggregate Intrinsic Value (In thousands)
Outstanding, Aggregate Intrinsic Value | $	$ 23,050
Outstanding and expected to vest, aggregate intrinsic value | $	$ 2,064
Performance Based Awards (PSUs)
Shares
Outstanding, shares at beginning of the period	104,000
Granted, shares	119,000
Vested, shares	(104,000)
Forfeited, shares	(3,000)
Outstanding, shares at ending of the period	116,000
Outstanding and expected to vest at ending of the period	42,000
Weighted- Average Grant Date Fair Value Per Share (in dollars per share)
Outstanding, weighted-average grant date fair value per share, beginning of period | $ / shares	$ 84.47
Granted | $ / shares	79.91
Vested | $ / shares	84.47
Forfeited | $ / shares	79.23
Outstanding, weighted-average grant date fair value per share, end of period | $ / shares	$ 79.93
Weighted-Average Remaining Contractual Term (In years)
Outstanding, weighted-average remaining contractual term (in years)	3 months
Outstanding and expected to vest, weighted-average remaining contractual term (in years)	3 months
Aggregate Intrinsic Value (In thousands)
Outstanding, Aggregate Intrinsic Value | $	$ 7,478
Outstanding and expected to vest, aggregate intrinsic value | $	$ 2,715
Minimum | Long-Term Performance-Based Awards (PRSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Performance Based Awards Shares Released As Percentage Of Target Number	0%
Minimum | Performance Based Awards (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Performance Based Awards Shares Released As Percentage Of Target Number	0%
Maximum | Long-Term Performance-Based Awards (PRSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Performance Based Awards Shares Released As Percentage Of Target Number	200%
Maximum | Performance Based Awards (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Performance Based Awards Shares Released As Percentage Of Target Number	200%

SIGNIFICANT CUSTOMERS AND GEO_3

SIGNIFICANT CUSTOMERS AND GEOGRAPHIC NET REVENUES Customer and Credit Risk Concentration (Details) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022 USD ($) customer	Sep. 30, 2021 USD ($) customer	Sep. 30, 2022 USD ($) segment customer	Sep. 30, 2021 USD ($) customer	Dec. 31, 2021 customer
Concentration Risk [Line Items]
Number of reportable segments | segment			1
NET REVENUES | $	$ 160,233	$ 176,776	$ 526,368	$ 530,623
Distributors
Concentration Risk [Line Items]
NET REVENUES | $	$ 103,600	$ 127,300	$ 373,300	$ 397,900
Net revenue | Customer concentration risk
Concentration Risk [Line Items]
Number of major customers | customer	10	10	10	10
Net revenue | Customer concentration risk | Avnet
Concentration Risk [Line Items]
Concentration risk, percentage of total net revenues	28%	27%	30%	29%
Net revenue | Customer concentration risk | Honestar Technologies Co., Ltd.
Concentration Risk [Line Items]
Concentration risk, percentage of total net revenues		15%	12%	17%
Net revenue | Customer concentration risk | Salcomp Group
Concentration Risk [Line Items]
Concentration risk, percentage of total net revenues	12%
Net revenue | Customer concentration risk | Ten Customers
Concentration Risk [Line Items]
Concentration risk, percentage of total net revenues	72%	76%	75%	79%
Accounts receivable | Credit concentration risk
Concentration Risk [Line Items]
Number of major customers | customer			10		10
Accounts receivable | Credit concentration risk | Avnet
Concentration Risk [Line Items]
Concentration risk percentage			32%		45%
Accounts receivable | Credit concentration risk | Salcomp Group
Concentration Risk [Line Items]
Concentration risk percentage			13%
Accounts receivable | Credit concentration risk | Ten Customers
Concentration Risk [Line Items]
Concentration risk percentage			78%		86%

SIGNIFICANT CUSTOMERS AND GEO_4

SIGNIFICANT CUSTOMERS AND GEOGRAPHIC NET REVENUES Geographic Net Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenue by Geography
Total net revenues	$ 160,233	$ 176,776	$ 526,368	$ 530,623
United States of America
Revenue by Geography
Total net revenues	8,387	5,054	22,862	12,973
Hong Kong/China
Revenue by Geography
Total net revenues	80,508	103,937	282,508	344,790
Taiwan
Revenue by Geography
Total net revenues	4,895	7,629	16,000	20,432
India
Revenue by Geography
Total net revenues	9,660	6,353	22,765	17,551
Korea
Revenue by Geography
Total net revenues	10,071	17,508	47,298	43,702
Western Europe (excluding Germany)
Revenue by Geography
Total net revenues	10,790	11,418	27,164	27,268
Japan
Revenue by Geography
Total net revenues	9,777	6,959	27,986	16,758
Germany
Revenue by Geography
Total net revenues	16,601	9,402	42,545	24,064
Other
Revenue by Geography
Total net revenues	$ 9,544	$ 8,516	$ 37,240	$ 23,085

STOCKHOLDERS' EQUITY Common Sto

STOCKHOLDERS' EQUITY Common Stock Shares Outstanding (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Common Stock Shares Outstanding [Abstract]
Beginning balance	57,134	60,344	59,913	59,910
Common stock issued under employee stock plans	61	104	785	873
Repurchased	0	(120)	(3,503)	(455)
Ending balance	57,195	60,328	57,195	60,328

STOCKHOLDERS' EQUITY Common S_2

STOCKHOLDERS' EQUITY Common Stock Repurchases (Details) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Oct. 25, 2022	Apr. 26, 2022	Feb. 27, 2022	Jan. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 0		$ 0						$ 67.3
Stock Repurchase Program, Authorized Amount						$ 75	$ 50	$ 100
Repurchase of common stock (shares)	0	120	3,503	455
Repurchase of common stock			$ 292.3
Subsequent Event
Class of Stock [Line Items]
Stock Repurchase Program, Authorized Amount					$ 100

STOCKHOLDERS' EQUITY Dividends

STOCKHOLDERS' EQUITY Dividends (Details) $ / shares in Units, $ in Thousands		1 Months Ended		3 Months Ended		9 Months Ended
	Oct. 26, 2021 dividend $ / shares	Jan. 31, 2022 item $ / shares	Jan. 31, 2021 item $ / shares	Sep. 30, 2022 USD ($) $ / shares	Sep. 30, 2021 USD ($) $ / shares	Sep. 30, 2022 USD ($) $ / shares	Sep. 30, 2021 USD ($) $ / shares
Stockholders' Equity Attributable to Parent [Abstract]
Dividends declared and paid | $				$ 10,293	$ 7,840	$ 31,229	$ 23,552
Dividends declared per common share				$ 0.18	$ 0.13	$ 0.54	$ 0.39
Common Stock, Dividends, Number of Quarterly Distributions Declared	5	4	4
Common Stock, Dividends, Per Share, Declared, Prior Fiscal Year, Each Quarter			$ 0.13
Common Stock, Dividends Per Share Declared, Prior Fiscal Year, Fourth Quarter	$ 0.15
Common Stock, Dividends, Increase Per Share, Declared, Current Fiscal Year, Each Quarter		$ 0.03
Common Stock, Dividends, Per Share, Declared, Current Fiscal Year, Each Quarter	$ 0.15	$ 0.18

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Basic earnings per share:
Net income	$ 45,964	$ 42,034	$ 148,036	$ 123,713
Weighted-average common shares	57,172	60,319	58,039	60,350
Basic earnings per share	$ 0.80	$ 0.70	$ 2.55	$ 2.05
Diluted earnings per share:
Net income	$ 45,964	$ 42,034	$ 148,036	$ 123,713
Weighted-average common shares	57,172	60,319	58,039	60,350
Effect of dilutive awards:
Employee stock plans	431	1,044	596	1,116
Diluted weighted-average common shares	57,603	61,363	58,635	61,466
Diluted earnings per share	$ 0.80	$ 0.69	$ 2.52	$ 2.01
Stock awards excluded in the computation of diluted earnings per share	0	0	0	0

PROVISION FOR INCOME TAXES (Det

PROVISION FOR INCOME TAXES (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure Abstract
Effective income tax rate	6.90%	8.20%	8.50%	6.10%
Federal statutory tax rate	21%	21%	21%	21%

LEGAL PROCEEDINGS AND CONTING_2

LEGAL PROCEEDINGS AND CONTINGENCIES (Details) $ in Millions	Oct. 31, 2022 patent	May 16, 2022 USD ($)	Jan. 06, 2020 patent
Subsequent Event | Patent Infringement Claim
Gain and Loss Contingencies [Line Items]
Loss Contingency, Patents Allegedly Infringed, Number	1
Pending Litigation | Patent Infringement Claim Two
Gain and Loss Contingencies [Line Items]
Gain Contingency, Patents Allegedly Infringed upon, Number			2
Settled Litigation | Settlement Agreement with Opticurrent, LLC
Gain and Loss Contingencies [Line Items]
Litigation Settlement, Amount Awarded to Other Party | $		$ 2.9