Power Integrations (POWI) 10-Q 7 Nov 23 2023 Q3 Quarterly report Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION - $ / shares	9 Months Ended
	Sep. 30, 2023	Nov. 03, 2023
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
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		56,857,583
Entity Central Index Key	0000833640
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
CURRENT ASSETS:
Cash and cash equivalents	$ 94,743	$ 105,372
Short-term marketable securities	261,896	248,441
Accounts receivable, net	28,539	20,836
Inventories	150,246	135,420
Prepaid expenses and other current assets	20,692	15,004
Total current assets	556,116	525,073
PROPERTY AND EQUIPMENT, net	166,391	176,681
INTANGIBLE ASSETS, net	4,967	6,597
GOODWILL	91,849	91,849
DEFERRED TAX ASSETS	28,943	19,034
OTHER ASSETS	17,224	20,862
Total assets	865,490	840,096
CURRENT LIABILITIES:
Accounts payable	28,553	30,088
Accrued payroll and related expenses	13,778	14,778
Taxes payable	774	938
Other accrued liabilities	10,316	12,572
Total current liabilities	53,421	58,376
LONG-TERM INCOME TAXES PAYABLE	16,724	15,757
OTHER LIABILITIES	10,288	10,747
Total liabilities	80,433	84,880
COMMITMENTS AND CONTINGENCIES (Notes 11, 12 and 13)
STOCKHOLDERS' EQUITY:
Common stock	23	24
Additional paid-in capital	19,429	0
Accumulated other comprehensive loss	(5,730)	(7,344)
Retained earnings	771,335	762,536
Total stockholders' equity	785,057	755,216
Total liabilities and stockholders' equity	$ 865,490	$ 840,096

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)
NET REVENUES	$ 125,511	$ 160,233	$ 355,031	$ 526,368
COST OF REVENUES	59,566	68,198	172,283	226,815
GROSS PROFIT	65,945	92,035	182,748	299,553
OPERATING EXPENSES:
Research and development	24,064	23,205	72,562	70,390
Sales and marketing	16,224	14,700	49,126	47,081
General and administrative	7,945	5,759	24,950	21,432
Other operating expenses, net	0	0	0	1,130
Total operating expenses	48,233	43,664	146,638	140,033
INCOME FROM OPERATIONS	17,712	48,371	36,110	159,520
OTHER INCOME	3,138	1,001	7,566	2,229
INCOME BEFORE INCOME TAXES	20,850	49,372	43,676	161,749
PROVISION FOR INCOME TAXES	1,054	3,408	2,212	13,713
NET INCOME	$ 19,796	$ 45,964	$ 41,464	$ 148,036
EARNINGS PER SHARE:
Basic (in dollars per share)	$ 0.34	$ 0.80	$ 0.72	$ 2.55
Diluted (in dollars per share)	$ 0.34	$ 0.80	$ 0.72	$ 2.52
SHARES USED IN PER SHARE CALCULATION:
Basic (in shares)	57,383	57,172	57,282	58,039
Diluted (in shares)	57,741	57,603	57,711	58,635

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited)
Net income	$ 19,796	$ 45,964	$ 41,464	$ 148,036
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, 2023 and 2022	(407)	(1,044)	(807)	(2,067)
Unrealized gain (loss) on marketable securities, net of $0 tax in each of the three and nine months ended September 30, 2023 and 2022	455	(731)	2,483	(6,072)
Amortization of defined benefit pension items, net of tax of ($4) and ($11) in the three and nine months ended September 30, 2023, respectively, and $3 and $6 in the three and nine months ended September 30, 2022, respectively	(21)	18	(62)	59
Total other comprehensive income (loss)	27	(1,757)	1,614	(8,080)
TOTAL COMPREHENSIVE INCOME	$ 19,823	$ 44,207	$ 43,078	$ 139,956

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited)
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	$ (4)	$ 3	$ (11)	$ 6

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, 2021	$ 28	$ 162,301	$ (3,737)	$ 753,440
Net income				148,036	$ 148,036
Common stock issued under employee stock plans		6,162
Repurchase of common stock	(4)	(178,050)		(114,295)
Stock-based compensation		15,710
Other comprehensive income (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	0	(10,060)	720,281
Net income				45,964	45,964
Common stock issued under employee stock plans		3,105
Repurchase of common stock	0	0		0
Stock-based compensation		3,018
Other comprehensive income (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
Beginning balance at Dec. 31, 2022	24	0	(7,344)	762,536	755,216
Net income				41,464	41,464
Common stock issued under employee stock plans		6,237
Repurchase of common stock	(1)	(7,833)		0	(7,800)
Stock-based compensation		21,025
Other comprehensive income (loss)			1,614		1,614
Payment of dividends to stockholders				(32,665)
Ending balance at Sep. 30, 2023	23	19,429	(5,730)	771,335	785,057
Beginning balance at Jun. 30, 2023	23	11,220	(5,757)	762,443
Net income				19,796	19,796
Common stock issued under employee stock plans		3,139
Repurchase of common stock	0	(1,835)		0	(1,800)
Stock-based compensation		6,905
Other comprehensive income (loss)			27		27
Payment of dividends to stockholders				(10,904)
Ending balance at Sep. 30, 2023	$ 23	$ 19,429	$ (5,730)	$ 771,335	$ 785,057

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 41,464	$ 148,036
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	26,316	26,055
Amortization of intangibles	1,630	1,871
Loss on disposal of property and equipment	86	1,162
Stock-based compensation expense	21,025	15,710
Amortization of premium on marketable securities	146	2,638
Deferred income taxes	(9,952)	(7,390)
Increase (decrease) in accounts receivable allowance for credit losses	(454)	690
Change in operating assets and liabilities:
Accounts receivable	(7,249)	24,628
Inventories	(14,826)	(20,826)
Prepaid expenses and other assets	(837)	8,428
Accounts payable	(2,882)	(5,874)
Taxes payable and accrued liabilities	(4,975)	(3,883)
Net cash provided by operating activities	49,492	191,245
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	(14,741)	(33,444)
Proceeds from sale of property and equipment	0	1,202
Purchases of marketable securities	(173,015)	(27,244)
Proceeds from sales and maturities of marketable securities	161,897	161,014
Net cash provided by (used in) investing activities	(25,859)	101,528
CASH FLOWS FROM FINANCING ACTIVITIES:
Issuance of common stock under employee stock plans	6,237	6,162
Repurchase of common stock	(7,834)	(292,349)
Payments of dividends to stockholders	(32,665)	(31,229)
Net cash used in financing activities	(34,262)	(317,416)
NET DECREASE IN CASH AND CASH EQUIVALENTS	(10,629)	(24,643)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	105,372	158,117
CASH AND CASH EQUIVALENTS AT END OF PERIOD	94,743	133,474
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Unpaid property and equipment	2,429	2,555
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for income taxes, net	$ 13,683	$ 17,834

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2023
BASIS OF PRESENTATION
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, 2022, included in its Form 10-K filed on February 7, 2023, with the Securities and Exchange Commission.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES AND RECENT ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Sep. 30, 2023
SIGNIFICANT ACCOUNTING POLICIES AND RECENT ACCOUNTING PRONOUNCEMENTS
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, 2023
COMPONENTS OF THE COMPANY'S CONDENSED CONSOLIDATED BALANCE SHEETS
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) ​ 2023 ​ 2022 Accounts receivable trade ​ $ 76,507 ​ $ 78,914 Allowance for ship and debit ​ (44,089) ​ (53,184) Allowance for stock rotation and rebate ​ (3,198) ​ (3,759) Allowance for credit losses ​ ​ (681) ​ ​ (1,135) Total ​ $ 28,539 ​ $ 20,836 ​ ​ 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) ​ 2023 2022 2023 2022 Beginning balance ​ $ (681) ​ $ (704) ​ $ (1,135) ​ $ (445) Provision for credit loss expense ​ (671) ​ (967) ​ (1,498) ​ (1,585) Receivables written off ​ — ​ 49 ​ — ​ 49 Recoveries collected ​ 671 ​ 487 ​ 1,952 ​ 846 Ending balance ​ $ (681) ​ $ (1,135) ​ $ (681) ​ $ (1,135) ​ Inventories ​ ​ ​ ​ ​ ​ ​ ​ September 30, December 31, (In thousands) ​ 2023 ​ 2022 Raw materials ​ $ 87,904 ​ $ 75,355 Work-in-process ​ 25,187 ​ 15,440 Finished goods ​ 37,155 ​ 44,625 Total ​ $ 150,246 ​ $ 135,420 ​ Intangible Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2023 ​ December 31, 2022 ​ ​ ​ Accumulated ​ ​ ​ ​ Accumulated ​ ​ (In thousands) ​ Gross ​ Amortization ​ Net ​ Gross ​ Amortization ​ Net Domain name ​ $ 1,261 ​ $ — ​ $ 1,261 ​ $ 1,261 ​ $ — ​ $ 1,261 Developed technology ​ 37,960 ​ (34,977) ​ 2,983 ​ 37,960 ​ (33,531) ​ 4,429 Technology licenses ​ 1,926 ​ (1,203) ​ 723 ​ 1,926 ​ (1,019) ​ 907 Total intangible assets ​ $ 41,147 ​ $ (36,180) ​ $ 4,967 ​ $ 41,147 ​ $ (34,550) ​ $ 6,597 ​ ​ The estimated future amortization expense related to finite-lived intangible assets at September 30, 2023, is as follows: ​ ​ ​ ​ ​ ​ Estimated ​ ​ Amortization Fiscal Year ​ (In thousands) 2023 (remaining three months) ​ $ 543 2024 ​ 1,279 2025 ​ 832 2026 ​ 687 2027 ​ 365 Total ​ $ 3,706 ​ Accumulated Other Comprehensive Loss Changes in accumulated other comprehensive loss for the three and nine months ended September 30, 2023 and 2022, 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) 2023 2022 2023 2022 2023 2022 2023 2022 Beginning balance $ (3,295) ​ $ (6,506) ​ $ 821 ​ $ (633) ​ $ (3,283) ​ $ (2,921) ​ $ (5,757) ​ $ (10,060) Other comprehensive income (loss) before reclassifications 455 ​ (731) ​ — ​ — ​ (407) ​ (1,044) ​ 48 ​ (1,775) Amounts reclassified from accumulated other comprehensive loss — ​ — ​ (21) (1) 18 (1) — ​ — ​ (21) ​ 18 Net-current period other comprehensive income (loss) 455 ​ (731) ​ (21) ​ 18 ​ (407) ​ (1,044) ​ 27 ​ (1,757) Ending balance $ (2,840) ​ $ (7,237) ​ $ 800 ​ $ (615) ​ $ (3,690) ​ $ (3,965) ​ $ (5,730) ​ $ (11,817) (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, 2023 and 2022. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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) 2023 2022 2023 ​ 2022 2023 2022 2023 2022 Beginning balance $ (5,323) ​ $ (1,165) ​ $ 862 ​ $ (674) ​ $ (2,883) ​ $ (1,898) ​ $ (7,344) ​ $ (3,737) Other comprehensive income (loss) before reclassifications 2,483 ​ (6,072) ​ — ​ — ​ (807) ​ (2,067) ​ 1,676 ​ (8,139) Amounts reclassified from accumulated other comprehensive loss — ​ — ​ (62) (1) 59 (1) — ​ — ​ (62) ​ 59 Net-current period other comprehensive income (loss) 2,483 ​ (6,072) ​ (62) ​ 59 ​ (807) ​ (2,067) ​ 1,614 ​ (8,080) Ending balance $ (2,840) ​ $ (7,237) ​ $ 800 ​ $ (615) ​ $ (3,690) ​ $ (3,965) ​ $ (5,730) ​ $ (11,817) (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, 2023 and 2022.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 30, 2023
FAIR VALUE MEASUREMENTS
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, 2023 and December 31, 2022, was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurement at ​ ​ September 30, 2023 ​ ​ ​ Quoted Prices in ​ ​ ​ ​ ​ ​ ​ Active Markets for ​ Significant Other ​ ​ ​ ​ ​ Identical Assets ​ Observable Inputs (In thousands) ​ Total Fair Value ​ (Level 1) ​ (Level 2) Commercial paper ​ $ 39,539 ​ $ — ​ $ 39,539 Corporate securities ​ ​ 261,896 ​ ​ — ​ ​ 261,896 Money market funds ​ 781 ​ 781 ​ — Total ​ $ 302,216 ​ $ 781 ​ $ 301,435 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurement at ​ ​ December 31, 2022 ​ ​ ​ Quoted Prices in ​ ​ ​ ​ ​ ​ ​ Active Markets for ​ Significant Other ​ ​ ​ ​ ​ Identical Assets ​ Observable Inputs (In thousands) ​ Total Fair Value ​ (Level 1) ​ (Level 2) Commercial paper ​ $ 58,683 ​ $ — ​ $ 58,683 Corporate securities ​ ​ 248,441 ​ ​ — ​ ​ 248,441 Money market funds ​ 363 ​ 363 ​ — Total ​ $ 307,487 ​ $ 363 ​ $ 307,124 ​ 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, 2023 and the twelve months ended December 31, 2022.

MARKETABLE SECURITIES

MARKETABLE SECURITIES	9 Months Ended
	Sep. 30, 2023
MARKETABLE SECURITIES
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, 2023, were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized ​ Gross Unrealized ​ Estimated Fair (In thousands) Cost Gains Losses Market Value Investments due in 3 months or less: ​ ​ ​ ​ Corporate securities ​ $ 36,088 ​ $ — ​ $ (207) ​ $ 35,881 Total ​ 36,088 ​ — ​ (207) ​ 35,881 Investments due in 4-12 months: ​ ​ ​ ​ Corporate securities ​ 39,377 ​ 4 ​ (664) ​ 38,717 Total ​ 39,377 ​ 4 ​ (664) ​ 38,717 Investments due in 12 months or greater: ​ ​ ​ ​ Corporate securities ​ 189,271 ​ 18 ​ (1,991) ​ 187,298 Total ​ ​ 189,271 ​ 18 ​ ​ (1,991) ​ 187,298 Total marketable securities ​ $ 264,736 ​ $ 22 ​ $ (2,862) ​ $ 261,896 ​ Accrued interest receivable was $2.7 million at September 30, 2023 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, 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 ​ $ 21,803 ​ $ — ​ $ (135) ​ $ 21,668 Total ​ 21,803 ​ — ​ (135) ​ 21,668 Investments due in 4-12 months: ​ ​ ​ ​ Corporate securities ​ 173,833 ​ — ​ (4,019) ​ 169,814 Total ​ 173,833 ​ — ​ (4,019) ​ 169,814 Investments due in 12 months or greater: ​ ​ ​ ​ Corporate securities ​ ​ 58,128 ​ 71 ​ (1,240) ​ 56,959 Total ​ 58,128 ​ 71 ​ (1,240) ​ 56,959 Total marketable securities ​ $ 253,764 ​ $ 71 ​ $ (5,394) ​ $ 248,441 ​ Accrued interest receivable was $1.2 million at December 31, 2022 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, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ $ 200,713 ​ $ (2,001) ​ $ 55,695 ​ $ (861) ​ $ 256,408 ​ $ (2,862) Total marketable securities ​ $ 200,713 ​ $ (2,001) ​ $ 55,695 ​ $ (861) ​ $ 256,408 ​ $ (2,862) ​ In the three and nine months ended September 30, 2023 and 2022, 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, 2023
STOCK-BASED COMPENSATION
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, 2023 and 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30, ​ September 30, (In thousands) 2023 2022 2023 2022 Cost of revenues ​ $ 446 ​ $ 172 ​ $ 1,193 ​ $ 727 Research and development ​ 2,895 ​ 2,334 ​ 7,992 ​ 7,712 Sales and marketing ​ 1,787 ​ 1,267 ​ 5,061 ​ 4,392 General and administrative ​ 1,777 ​ (755) ​ 6,779 ​ 2,879 Total stock-based compensation expense ​ $ 6,905 ​ $ 3,018 ​ $ 21,025 ​ $ 15,710 ​ Stock-based compensation expense in the three months ended September 30, 2023, was approximately $6.9 million, comprising approximately $6.1 million related to restricted stock unit (“RSU”) awards, $0.5 million related to the Company’s employee stock purchase plan and $0.3 million related to performance-based (“PSU”) awards and long-term performance-based (“PRSU”) awards. Stock-based compensation expense in the nine months ended September 30, 2023, was approximately $21.0 million, comprising approximately $17.3 million related to RSUs, $1.4 million related to the Company’s employee stock purchase plan and $2.3 million related to PSUs and PRSUs. Stock-based compensation expense in the three months ended September 30, 2022, was approximately $3.0 million, comprising approximately $6.4 million related to RSUs, $0.5 million related to the Company’s employee stock purchase plan and $3.9 million credit related to PSUs and PRSUs. 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 $2.9 million credit related to PSUs and PRSUs. 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 2023, it was determined that approximately 34,000 shares subject to the PSUs granted in 2022 vested in aggregate; the shares were released to the Company’s employees and executives in the first quarter of 2023. A summary of PSUs outstanding as of September 30, 2023 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, 2023 34 ​ $ 79.94 ​ ​ ​ Granted 130 ​ $ 82.96 ​ ​ Vested (34) ​ $ 79.94 ​ Forfeited — ​ ​ — ​ Outstanding at September 30, 2023 130 ​ $ 82.96 0.25 ​ $ 9,964 Outstanding and expected to vest at September 30, 2023 39 ​ ​ ​ 0.25 ​ $ 2,989 ​ 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 2021, 2022 and 2023 were based on the Company’s compound annual growth rate (“CAGR”) of revenue as measured against the revenue CAGR of the analog semiconductor industry (“Relative Measure”), in each case over the respective three-year performance period. In addition, the PRSUs granted in 2023 (“2023 PRSUs”) also include a performance goal related to the Company’s revenue growth over the respective three-year performance period as compared to defined targets (“Absolute Measure”) with the actual vesting of the 2023 PRSUs calculated based on higher achievement under the Relative Measure or the Absolute Measure. In February 2023, it was determined that approximately 23,000 shares subject to the PRSUs granted in 2020 vested in aggregate; the shares were released to the Company’s executives in the first quarter of 2023. A summary of PRSUs outstanding as of September 30, 2023 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, 2023 236 ​ $ 77.82 ​ ​ ​ Granted 145 ​ $ 80.92 ​ Vested (23) ​ $ 49.68 ​ Forfeited — ​ ​ — ​ Outstanding at September 30, 2023 358 ​ $ 80.89 1.37 ​ $ 27,344 Outstanding and expected to vest at September 30, 2023 6 ​ ​ ​ 2.25 ​ $ 445 ​ RSU Awards A summary of RSUs outstanding as of September 30, 2023 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, 2023 1,096 ​ $ 60.52 ​ ​ ​ ​ ​ Granted 333 ​ $ 81.06 ​ ​ ​ ​ Vested (386) ​ $ 51.49 ​ ​ ​ ​ Forfeited (22) ​ $ 71.71 ​ ​ ​ ​ Outstanding at September 30, 2023 1,021 ​ $ 70.39 ​ 1.68 ​ $ 77,875 Outstanding and expected to vest at September 30, 2023 946 ​ ​ ​ 1.59 ​ $ 72,163 ​

SIGNIFICANT CUSTOMERS AND GEOGR

SIGNIFICANT CUSTOMERS AND GEOGRAPHIC NET REVENUES	9 Months Ended
	Sep. 30, 2023
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 83% and 81% of net revenues for the three and nine months ended September 30, 2023, respectively, and 72% and 75%, respectively, in the corresponding periods of 2022. 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 (“OEMs”) and merchant power-supply manufacturers. Similarly, merchant power-supply manufacturers sell power supplies incorporating the Company’s products to a broad range of OEMs. Sales to distributors were $93.2 million and $238.7 million in the three and nine months ended September 30, 2023, respectively, and $103.6 million and $373.3 million, respectively, in the corresponding periods of 2022. 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 ​ 2023 ​ 2022 ​ 2023 ​ 2022 Avnet 28 % ​ 28 % 26 % ​ 30 % Honestar Technologies Co., Ltd. ​ 23 % ​ * ​ ​ 17 % ​ 12 % Salcomp Group ​ * ​ ​ 12 % ​ 11 % ​ * ​ ​ * 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, 2023, and December 31, 2022, 89% and 87% of accounts receivable were concentrated with the Company’s top ten customers. The following customers represented 10% or more of accounts receivable at September 30, 2023 and December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, Customer 2023 ​ 2022 Avnet ​ 41 % ​ 42 % Honestar Technologies Co., Ltd. ​ 12 % ​ * ​ Salcomp Group ​ 10 % ​ 13 % Flextronics Group ​ * ​ ​ 11 % * Total customer accounts receivable was less than 10% of accounts receivable. 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, 2023 and 2022, were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30, ​ September 30, (In thousands) 2023 2022 2023 2022 United States of America ​ $ 2,208 ​ $ 8,387 ​ $ 6,903 ​ $ 22,862 Hong Kong/China ​ 79,735 ​ 80,508 ​ 215,829 ​ 282,508 India ​ ​ 9,697 ​ 9,660 ​ 27,738 ​ 22,765 Taiwan ​ 4,949 ​ 4,895 ​ 11,453 ​ 16,000 Korea ​ 4,308 ​ 10,071 ​ 17,425 ​ 47,298 Western Europe (excluding Germany) ​ 8,498 ​ 10,790 ​ 20,912 ​ 27,164 Japan ​ 4,311 ​ 9,777 ​ 13,390 ​ 27,986 Germany ​ 5,741 ​ 16,601 ​ 19,290 ​ 42,545 Other ​ 6,064 ​ 9,544 ​ 22,091 ​ 37,240 Total net revenues ​ $ 125,511 ​ $ 160,233 ​ $ 355,031 ​ $ 526,368 ​

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	9 Months Ended
	Sep. 30, 2023
STOCKHOLDERS' EQUITY
STOCKHOLDERS' EQUITY	8. STOCKHOLDERS’ EQUITY: Common Stock Shares Outstanding ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30, ​ September 30, (In thousands) 2023 2022 2023 2022 Beginning balance ​ ​ 57,351 ​ ​ 57,134 ​ ​ 56,961 ​ ​ 59,913 Common stock issued under employee stock plans ​ 59 ​ 61 ​ 529 ​ 785 Repurchased ​ (24) ​ — ​ (104) ​ (3,503) Ending balance ​ ​ 57,386 ​ ​ 57,195 ​ ​ 57,386 ​ ​ 57,195 ​ Common Stock Repurchases As of December 31, 2022, the Company had $81.3 million remaining under its authorized stock-repurchase program. In Cash Dividends In January 2022, the Company’s board of directors declared dividends of $0.18 per share to be paid to stockholders of record at the end of each quarter in 2022. In February 2023, In October 2023, the Company’s board of directors raised the quarterly cash dividend again with the declaration of five cash dividends of $0.20 per share to be paid to stockholders of record at the end of the fourth quarter in 2023 (in lieu of the $0.19 per share announced in February 2023) and at the end of each quarter in 2024 . For the three and nine months ended September 30, 2023 and 2022, cash dividends declared and paid were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30, ​ September 30, (In thousands, except per share amounts) 2023 2022 2023 2022 Dividends declared and paid ​ $ 10,904 ​ $ 10,293 ​ $ 32,665 ​ $ 31,229 Dividends declared per common share ​ $ 0.19 ​ $ 0.18 ​ $ 0.57 ​ $ 0.54 ​

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2023
EARNINGS PER SHARE
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) 2023 2022 2023 2022 Basic earnings per share: ​ ​ ​ ​ Net income ​ $ 19,796 ​ $ 45,964 ​ $ 41,464 ​ $ 148,036 Weighted-average common shares ​ 57,383 ​ 57,172 ​ 57,282 ​ 58,039 Basic earnings per share ​ $ 0.34 ​ $ 0.80 ​ $ 0.72 ​ $ 2.55 Diluted earnings per share: (1) ​ ​ ​ ​ Net income ​ $ 19,796 ​ $ 45,964 ​ $ 41,464 ​ $ 148,036 Weighted-average common shares ​ 57,383 ​ 57,172 ​ 57,282 ​ 58,039 Effect of dilutive awards: ​ ​ ​ ​ Employee stock plans ​ 358 ​ 431 ​ 429 ​ 596 Diluted weighted-average common shares ​ 57,741 ​ 57,603 ​ 57,711 ​ 58,635 Diluted earnings per share ​ $ 0.34 ​ $ 0.80 ​ $ 0.72 ​ $ 2.52 ​ (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 2023 and 2022 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, 2023 and 2022, 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, 2023
PROVISION FOR INCOME TAXES
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 rate for both the three and nine months ended September 30, 2023 was 5.1%, as compared to 6.9% and 8.5%, respectively, in the corresponding periods of 2022. The effective tax rate in these periods were 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 three months ended September 30, 2023, our effective tax rate was favorably impacted by the recognition of excess tax benefits related to share-based payments. In the nine months ended September 30, 2023, our effective tax rate was favorably impacted by discrete items associated with the release of unrecognized tax benefits and recognition of excess tax benefits related to share-based payments. 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, 2023, the Company maintained a valuation allowance on its California deferred tax assets, New Jersey deferred tax assets and a valuation allowance with respect to its 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, 2023
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, 2023
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 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, based on customer use of the Company’s products. In response, CogniPower filed a motion to dismiss the Company’s declaratory judgment claims on the basis that CogniPower had not threatened the Company directly with suit. That motion was granted, 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 recently filed a motion to amend its claims against CogniPower to include three additional patents that are in the same family as the two CogniPower patents that are already in the lawsuit, after CogniPower accused the Company’s customers of infringing those three related patents in a lawsuit in the Eastern District of Texas. A ruling on the Company’s motion is expected in the coming months, and the Company believes it has strong claims and defenses with respect to all of CogniPower’s asserted patents, 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 alleged that the Company was infringing one patent pertaining to charging a battery-operated device. The Company believes it has strong claims and defenses, and intends to vigorously defend itself against Waverly’s claims, with appeals to follow if necessary. Because the Company believed that Waverly’s Texas complaint was improperly filed in the wrong court, the Company filed a motion to dismiss, and on November 30, 2022, the Company filed a complaint against Waverly Licensing LLC and related entities IP Edge LLC, Mavexar LLC, and Array IP LLC in the United States District Court for the District of Delaware seeking a declaration of non-infringement with respect to a patent that Waverly charged the Company with infringing. The Texas court thereafter dismissed Waverly’s Texas complaint. The Company’s Delaware lawsuit is in its earliest stages, but on April 6, 2023, the Delaware defendants filed a motion to dismiss based on a series of covenants not to sue that the Delaware defendants filed with the Court, with further proceedings on the Delaware defendants’ motion expected in the coming months. 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, 2023
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, 2023. 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, 2023
SIGNIFICANT ACCOUNTING POLICIES AND RECENT ACCOUNTING PRONOUNCEMENTS
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, 2023
COMPONENTS OF THE COMPANY'S CONDENSED CONSOLIDATED BALANCE SHEETS
Schedule of Accounts Receivable	Accounts Receivable ​ ​ ​ ​ ​ ​ ​ ​ September 30, December 31, (In thousands) ​ 2023 ​ 2022 Accounts receivable trade ​ $ 76,507 ​ $ 78,914 Allowance for ship and debit ​ (44,089) ​ (53,184) Allowance for stock rotation and rebate ​ (3,198) ​ (3,759) Allowance for credit losses ​ ​ (681) ​ ​ (1,135) Total ​ $ 28,539 ​ $ 20,836
Schedule of Allowance for Credit Losses	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for Credit Losses ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30, ​ September 30, (In thousands) ​ 2023 2022 2023 2022 Beginning balance ​ $ (681) ​ $ (704) ​ $ (1,135) ​ $ (445) Provision for credit loss expense ​ (671) ​ (967) ​ (1,498) ​ (1,585) Receivables written off ​ — ​ 49 ​ — ​ 49 Recoveries collected ​ 671 ​ 487 ​ 1,952 ​ 846 Ending balance ​ $ (681) ​ $ (1,135) ​ $ (681) ​ $ (1,135)
Schedule of Inventories	Inventories ​ ​ ​ ​ ​ ​ ​ ​ September 30, December 31, (In thousands) ​ 2023 ​ 2022 Raw materials ​ $ 87,904 ​ $ 75,355 Work-in-process ​ 25,187 ​ 15,440 Finished goods ​ 37,155 ​ 44,625 Total ​ $ 150,246 ​ $ 135,420
Schedule Of Intangible Assets	Intangible Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2023 ​ December 31, 2022 ​ ​ ​ Accumulated ​ ​ ​ ​ Accumulated ​ ​ (In thousands) ​ Gross ​ Amortization ​ Net ​ Gross ​ Amortization ​ Net Domain name ​ $ 1,261 ​ $ — ​ $ 1,261 ​ $ 1,261 ​ $ — ​ $ 1,261 Developed technology ​ 37,960 ​ (34,977) ​ 2,983 ​ 37,960 ​ (33,531) ​ 4,429 Technology licenses ​ 1,926 ​ (1,203) ​ 723 ​ 1,926 ​ (1,019) ​ 907 Total intangible assets ​ $ 41,147 ​ $ (36,180) ​ $ 4,967 ​ $ 41,147 ​ $ (34,550) ​ $ 6,597
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	​ ​ ​ ​ ​ ​ Estimated ​ ​ Amortization Fiscal Year ​ (In thousands) 2023 (remaining three months) ​ $ 543 2024 ​ 1,279 2025 ​ 832 2026 ​ 687 2027 ​ 365 Total ​ $ 3,706
Schedule of Accumulated Other Comprehensive Loss	Changes in accumulated other comprehensive loss for the three and nine months ended September 30, 2023 and 2022, 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) 2023 2022 2023 2022 2023 2022 2023 2022 Beginning balance $ (3,295) ​ $ (6,506) ​ $ 821 ​ $ (633) ​ $ (3,283) ​ $ (2,921) ​ $ (5,757) ​ $ (10,060) Other comprehensive income (loss) before reclassifications 455 ​ (731) ​ — ​ — ​ (407) ​ (1,044) ​ 48 ​ (1,775) Amounts reclassified from accumulated other comprehensive loss — ​ — ​ (21) (1) 18 (1) — ​ — ​ (21) ​ 18 Net-current period other comprehensive income (loss) 455 ​ (731) ​ (21) ​ 18 ​ (407) ​ (1,044) ​ 27 ​ (1,757) Ending balance $ (2,840) ​ $ (7,237) ​ $ 800 ​ $ (615) ​ $ (3,690) ​ $ (3,965) ​ $ (5,730) ​ $ (11,817) (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, 2023 and 2022. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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) 2023 2022 2023 ​ 2022 2023 2022 2023 2022 Beginning balance $ (5,323) ​ $ (1,165) ​ $ 862 ​ $ (674) ​ $ (2,883) ​ $ (1,898) ​ $ (7,344) ​ $ (3,737) Other comprehensive income (loss) before reclassifications 2,483 ​ (6,072) ​ — ​ — ​ (807) ​ (2,067) ​ 1,676 ​ (8,139) Amounts reclassified from accumulated other comprehensive loss — ​ — ​ (62) (1) 59 (1) — ​ — ​ (62) ​ 59 Net-current period other comprehensive income (loss) 2,483 ​ (6,072) ​ (62) ​ 59 ​ (807) ​ (2,067) ​ 1,614 ​ (8,080) Ending balance $ (2,840) ​ $ (7,237) ​ $ 800 ​ $ (615) ​ $ (3,690) ​ $ (3,965) ​ $ (5,730) ​ $ (11,817) (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, 2023 and 2022.

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 30, 2023
FAIR VALUE MEASUREMENTS
Schedule of Fair value of cash equivalents and marketable securities	The fair-value hierarchy of the Company’s cash equivalents and marketable securities at September 30, 2023 and December 31, 2022, was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurement at ​ ​ September 30, 2023 ​ ​ ​ Quoted Prices in ​ ​ ​ ​ ​ ​ ​ Active Markets for ​ Significant Other ​ ​ ​ ​ ​ Identical Assets ​ Observable Inputs (In thousands) ​ Total Fair Value ​ (Level 1) ​ (Level 2) Commercial paper ​ $ 39,539 ​ $ — ​ $ 39,539 Corporate securities ​ ​ 261,896 ​ ​ — ​ ​ 261,896 Money market funds ​ 781 ​ 781 ​ — Total ​ $ 302,216 ​ $ 781 ​ $ 301,435 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurement at ​ ​ December 31, 2022 ​ ​ ​ Quoted Prices in ​ ​ ​ ​ ​ ​ ​ Active Markets for ​ Significant Other ​ ​ ​ ​ ​ Identical Assets ​ Observable Inputs (In thousands) ​ Total Fair Value ​ (Level 1) ​ (Level 2) Commercial paper ​ $ 58,683 ​ $ — ​ $ 58,683 Corporate securities ​ ​ 248,441 ​ ​ — ​ ​ 248,441 Money market funds ​ 363 ​ 363 ​ — Total ​ $ 307,487 ​ $ 363 ​ $ 307,124

MARKETABLE SECURITIES (Tables)

MARKETABLE SECURITIES (Tables)	9 Months Ended
	Sep. 30, 2023
MARKETABLE SECURITIES
Schedule of 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, 2023, were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized ​ Gross Unrealized ​ Estimated Fair (In thousands) Cost Gains Losses Market Value Investments due in 3 months or less: ​ ​ ​ ​ Corporate securities ​ $ 36,088 ​ $ — ​ $ (207) ​ $ 35,881 Total ​ 36,088 ​ — ​ (207) ​ 35,881 Investments due in 4-12 months: ​ ​ ​ ​ Corporate securities ​ 39,377 ​ 4 ​ (664) ​ 38,717 Total ​ 39,377 ​ 4 ​ (664) ​ 38,717 Investments due in 12 months or greater: ​ ​ ​ ​ Corporate securities ​ 189,271 ​ 18 ​ (1,991) ​ 187,298 Total ​ ​ 189,271 ​ 18 ​ ​ (1,991) ​ 187,298 Total marketable securities ​ $ 264,736 ​ $ 22 ​ $ (2,862) ​ $ 261,896 Amortized cost and estimated fair market value of marketable securities classified as available-for-sale (excluding cash equivalents) at December 31, 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 ​ $ 21,803 ​ $ — ​ $ (135) ​ $ 21,668 Total ​ 21,803 ​ — ​ (135) ​ 21,668 Investments due in 4-12 months: ​ ​ ​ ​ Corporate securities ​ 173,833 ​ — ​ (4,019) ​ 169,814 Total ​ 173,833 ​ — ​ (4,019) ​ 169,814 Investments due in 12 months or greater: ​ ​ ​ ​ Corporate securities ​ ​ 58,128 ​ 71 ​ (1,240) ​ 56,959 Total ​ 58,128 ​ 71 ​ (1,240) ​ 56,959 Total marketable securities ​ $ 253,764 ​ $ 71 ​ $ (5,394) ​ $ 248,441
Schedule of 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, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ $ 200,713 ​ $ (2,001) ​ $ 55,695 ​ $ (861) ​ $ 256,408 ​ $ (2,862) Total marketable securities ​ $ 200,713 ​ $ (2,001) ​ $ 55,695 ​ $ (861) ​ $ 256,408 ​ $ (2,862)

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of 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, 2023 and 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30, ​ September 30, (In thousands) 2023 2022 2023 2022 Cost of revenues ​ $ 446 ​ $ 172 ​ $ 1,193 ​ $ 727 Research and development ​ 2,895 ​ 2,334 ​ 7,992 ​ 7,712 Sales and marketing ​ 1,787 ​ 1,267 ​ 5,061 ​ 4,392 General and administrative ​ 1,777 ​ (755) ​ 6,779 ​ 2,879 Total stock-based compensation expense ​ $ 6,905 ​ $ 3,018 ​ $ 21,025 ​ $ 15,710
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, 2023 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, 2023 34 ​ $ 79.94 ​ ​ ​ Granted 130 ​ $ 82.96 ​ ​ Vested (34) ​ $ 79.94 ​ Forfeited — ​ ​ — ​ Outstanding at September 30, 2023 130 ​ $ 82.96 0.25 ​ $ 9,964 Outstanding and expected to vest at September 30, 2023 39 ​ ​ ​ 0.25 ​ $ 2,989
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, 2023 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, 2023 236 ​ $ 77.82 ​ ​ ​ Granted 145 ​ $ 80.92 ​ Vested (23) ​ $ 49.68 ​ Forfeited — ​ ​ — ​ Outstanding at September 30, 2023 358 ​ $ 80.89 1.37 ​ $ 27,344 Outstanding and expected to vest at September 30, 2023 6 ​ ​ ​ 2.25 ​ $ 445
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, 2023 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, 2023 1,096 ​ $ 60.52 ​ ​ ​ ​ ​ Granted 333 ​ $ 81.06 ​ ​ ​ ​ Vested (386) ​ $ 51.49 ​ ​ ​ ​ Forfeited (22) ​ $ 71.71 ​ ​ ​ ​ Outstanding at September 30, 2023 1,021 ​ $ 70.39 ​ 1.68 ​ $ 77,875 Outstanding and expected to vest at September 30, 2023 946 ​ ​ ​ 1.59 ​ $ 72,163 ​

SIGNIFICANT CUSTOMERS AND GEO_2

SIGNIFICANT CUSTOMERS AND GEOGRAPHIC NET REVENUES (Tables)	9 Months Ended
	Sep. 30, 2023
Concentration Risk [Line Items]
Schedules of 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, 2023 and 2022, were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30, ​ September 30, (In thousands) 2023 2022 2023 2022 United States of America ​ $ 2,208 ​ $ 8,387 ​ $ 6,903 ​ $ 22,862 Hong Kong/China ​ 79,735 ​ 80,508 ​ 215,829 ​ 282,508 India ​ ​ 9,697 ​ 9,660 ​ 27,738 ​ 22,765 Taiwan ​ 4,949 ​ 4,895 ​ 11,453 ​ 16,000 Korea ​ 4,308 ​ 10,071 ​ 17,425 ​ 47,298 Western Europe (excluding Germany) ​ 8,498 ​ 10,790 ​ 20,912 ​ 27,164 Japan ​ 4,311 ​ 9,777 ​ 13,390 ​ 27,986 Germany ​ 5,741 ​ 16,601 ​ 19,290 ​ 42,545 Other ​ 6,064 ​ 9,544 ​ 22,091 ​ 37,240 Total net revenues ​ $ 125,511 ​ $ 160,233 ​ $ 355,031 ​ $ 526,368 ​
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 ​ 2023 ​ 2022 ​ 2023 ​ 2022 Avnet 28 % ​ 28 % 26 % ​ 30 % Honestar Technologies Co., Ltd. ​ 23 % ​ * ​ ​ 17 % ​ 12 % Salcomp Group ​ * ​ ​ 12 % ​ 11 % ​ * ​ ​ * 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 customers represented 10% or more of accounts receivable at September 30, 2023 and December 31, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, Customer 2023 ​ 2022 Avnet ​ 41 % ​ 42 % Honestar Technologies Co., Ltd. ​ 12 % ​ * ​ Salcomp Group ​ 10 % ​ 13 % Flextronics Group ​ * ​ ​ 11 % * Total customer accounts receivable was less than 10% of accounts receivable.

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	9 Months Ended
	Sep. 30, 2023
STOCKHOLDERS' EQUITY
Schedule of Common Stock Shares Outstanding	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30, ​ September 30, (In thousands) 2023 2022 2023 2022 Beginning balance ​ ​ 57,351 ​ ​ 57,134 ​ ​ 56,961 ​ ​ 59,913 Common stock issued under employee stock plans ​ 59 ​ 61 ​ 529 ​ 785 Repurchased ​ (24) ​ — ​ (104) ​ (3,503) Ending balance ​ ​ 57,386 ​ ​ 57,195 ​ ​ 57,386 ​ ​ 57,195
Schedule of Dividends Declared and Paid	For the three and nine months ended September 30, 2023 and 2022, cash dividends declared and paid were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30, ​ September 30, (In thousands, except per share amounts) 2023 2022 2023 2022 Dividends declared and paid ​ $ 10,904 ​ $ 10,293 ​ $ 32,665 ​ $ 31,229 Dividends declared per common share ​ $ 0.19 ​ $ 0.18 ​ $ 0.57 ​ $ 0.54 ​

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2023
EARNINGS PER SHARE
Schedule of 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) 2023 2022 2023 2022 Basic earnings per share: ​ ​ ​ ​ Net income ​ $ 19,796 ​ $ 45,964 ​ $ 41,464 ​ $ 148,036 Weighted-average common shares ​ 57,383 ​ 57,172 ​ 57,282 ​ 58,039 Basic earnings per share ​ $ 0.34 ​ $ 0.80 ​ $ 0.72 ​ $ 2.55 Diluted earnings per share: (1) ​ ​ ​ ​ Net income ​ $ 19,796 ​ $ 45,964 ​ $ 41,464 ​ $ 148,036 Weighted-average common shares ​ 57,383 ​ 57,172 ​ 57,282 ​ 58,039 Effect of dilutive awards: ​ ​ ​ ​ Employee stock plans ​ 358 ​ 431 ​ 429 ​ 596 Diluted weighted-average common shares ​ 57,741 ​ 57,603 ​ 57,711 ​ 58,635 Diluted earnings per share ​ $ 0.34 ​ $ 0.80 ​ $ 0.72 ​ $ 2.52 ​ (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 2023 and 2022 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, 2023	Jun. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
COMPONENTS OF THE COMPANY'S CONDENSED CONSOLIDATED BALANCE SHEETS
Accounts receivable trade	$ 76,507		$ 78,914
Allowance for ship and debit	(44,089)		(53,184)
Allowance for stock rotation and rebate	(3,198)		(3,759)
Allowance for credit losses	(681)	$ (681)	(1,135)	$ (1,135)	$ (704)	$ (445)
Total	$ 28,539		$ 20,836

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, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
COMPONENTS OF THE COMPANY'S CONDENSED CONSOLIDATED BALANCE SHEETS
Beginning Balance	$ (681)	$ (704)	$ (1,135)	$ (445)
Provision for credit loss expense	(671)	(967)	(1,498)	(1,585)
Receivables written off	0	49	0	49
Recoveries collected	671	487	1,952	846
Ending Balance	$ (681)	$ (1,135)	$ (681)	$ (1,135)

COMPONENTS OF THE COMPANY'S C_5

COMPONENTS OF THE COMPANY'S CONDENSED CONSOLIDATED BALANCE SHEETS - Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
COMPONENTS OF THE COMPANY'S CONDENSED CONSOLIDATED BALANCE SHEETS
Raw materials	$ 87,904	$ 75,355
Work-in-process	25,187	15,440
Finished goods	37,155	44,625
Total	$ 150,246	$ 135,420

COMPONENTS OF THE COMPANY'S C_6

COMPONENTS OF THE COMPANY'S CONDENSED CONSOLIDATED BALANCE SHEETS - Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Schedule of Intangible Assets Table [Line Items]
Intangible Assets, Gross	$ 41,147	$ 41,147
Accumulated Amortization	(36,180)	(34,550)
Total	3,706
Total Intangible Assets, Net	4,967	6,597
Developed technology
Schedule of Intangible Assets Table [Line Items]
Finite-Lived Intangible Assets, Gross	37,960	37,960
Accumulated Amortization	(34,977)	(33,531)
Total	2,983	4,429
Technology licenses
Schedule of Intangible Assets Table [Line Items]
Finite-Lived Intangible Assets, Gross	1,926	1,926
Accumulated Amortization	(1,203)	(1,019)
Total	723	907
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, 2023 USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2023 (remaining three months)	$ 543
2024	1,279
2025	832
2026	687
2027	365
Total	$ 3,706

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, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ (5,757)	$ (10,060)	$ (7,344)	$ (3,737)
Other comprehensive income (loss) before reclassifications	48	(1,775)	1,676	(8,139)
Amounts reclassified from accumulated other comprehensive loss	(21)	18	(62)	59
Net-current period other comprehensive income (loss)	27	(1,757)	1,614	(8,080)
Ending balance	(5,730)	(11,817)	(5,730)	(11,817)
Unrealized Gains and Losses on Marketable Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(3,295)	(6,506)	(5,323)	(1,165)
Other comprehensive income (loss) before reclassifications	455	(731)	2,483	(6,072)
Amounts reclassified from accumulated other comprehensive loss	0	0	0	0
Net-current period other comprehensive income (loss)	455	(731)	2,483	(6,072)
Ending balance	(2,840)	(7,237)	(2,840)	(7,237)
Defined Benefit Pension Items
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	821	(633)	862	(674)
Other comprehensive income (loss) before reclassifications	0	0	0	0
Amounts reclassified from accumulated other comprehensive loss	(21)	18	(62)	59
Net-current period other comprehensive income (loss)	(21)	18	(62)	59
Ending balance	800	(615)	800	(615)
Foreign Currency Items
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(3,283)	(2,921)	(2,883)	(1,898)
Other comprehensive income (loss) before reclassifications	(407)	(1,044)	(807)	(2,067)
Amounts reclassified from accumulated other comprehensive loss	0	0	0	0
Net-current period other comprehensive income (loss)	(407)	(1,044)	(807)	(2,067)
Ending balance	$ (3,690)	$ (3,965)	$ (3,690)	$ (3,965)

FAIR VALUE MEASUREMENTS - Fair

FAIR VALUE MEASUREMENTS - Fair Value Measurement (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments at Fair Value	$ 302,216	$ 307,487
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at Fair Value	39,539	58,683
Corporate securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at Fair Value	261,896	248,441
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments at Fair Value	781	363
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	781	363
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	781	363
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Investments at Fair Value	301,435	307,124
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	39,539	58,683
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	261,896	248,441
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 - Marketa

MARKETABLE SECURITIES - Marketable Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Interest receivable	$ 2,700	$ 1,200
Amortized Cost	264,736	253,764
Gross Unrealized Gains	22	71
Gross Unrealized Losses	(2,862)	(5,394)
Estimated Fair Market Value	261,896	248,441
Investments due in 3 months or less:
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	36,088	21,803
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(207)	(135)
Estimated Fair Market Value	35,881	21,668
Investments due in 4-12 months:
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	39,377	173,833
Gross Unrealized Gains	4	0
Gross Unrealized Losses	(664)	(4,019)
Estimated Fair Market Value	38,717	169,814
Investments due in 12 months or greater:
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	189,271	58,128
Gross Unrealized Gains	18	71
Gross Unrealized Losses	(1,991)	(1,240)
Estimated Fair Market Value	187,298	56,959
Corporate securities | Investments due in 3 months or less:
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	36,088	21,803
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(207)	(135)
Estimated Fair Market Value	35,881	21,668
Corporate securities | Investments due in 4-12 months:
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	39,377	173,833
Gross Unrealized Gains	4	0
Gross Unrealized Losses	(664)	(4,019)
Estimated Fair Market Value	38,717	169,814
Corporate securities | Investments due in 12 months or greater:
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	189,271	58,128
Gross Unrealized Gains	18	71
Gross Unrealized Losses	(1,991)	(1,240)
Estimated Fair Market Value	$ 187,298	$ 56,959

MARKETABLE SECURITIES - Continu

MARKETABLE SECURITIES - Continuous Unrealized Loss Position (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Debt Securities, Available-for-sale [Line Items]
Less Than 12 Months Estimated Fair Market Value, Total marketable securities	$ 200,713
Less Than 12 Months Gross Unrealized Losses, Total marketable securities	(2,001)
12 Months or Longer Estimated Fair Market Value, Total marketable securities	55,695
12 Months or Longer Gross Unrealized Losses, Total marketable securities	(861)
Total Estimated Fair Market Value, Total marketable securities	256,408
Total Gross Unrealized Losses, Total marketable securities	(2,862)
Corporate securities
Debt Securities, Available-for-sale [Line Items]
Less Than 12 Months Estimated Fair Market Value, Total marketable securities	200,713
Less Than 12 Months Gross Unrealized Losses, Total marketable securities	(2,001)
12 Months or Longer Estimated Fair Market Value, Total marketable securities	55,695
12 Months or Longer Gross Unrealized Losses, Total marketable securities	(861)
Total Estimated Fair Market Value, Total marketable securities	256,408
Total Gross Unrealized Losses, Total marketable securities	$ (2,862)

MARKETABLE SECURITIES - Unreali

MARKETABLE SECURITIES - Unrealized Losses (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
MARKETABLE SECURITIES
Unrealized losses on marketable securities	$ 0	$ 0	$ 0	$ 0

STOCK-BASED COMPENSATION - Stoc

STOCK-BASED COMPENSATION - Stock-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Stock-based compensation expense for stock options, stock awards and employee stock purchases included in operations:
Stock-based compensation expense	$ 6,905	$ 3,018	$ 21,025	$ 15,710
Restricted Stock Units (RSUs)
Stock-based compensation expense for stock options, stock awards and employee stock purchases included in operations:
Stock-based compensation expense	6,100	6,400	17,300	17,300
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	300	(3,900)	2,300	(2,900)
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	500	1,400	1,300
Cost of revenues
Stock-based compensation expense for stock options, stock awards and employee stock purchases included in operations:
Stock-based compensation expense	446	172	1,193	727
Research and development
Stock-based compensation expense for stock options, stock awards and employee stock purchases included in operations:
Stock-based compensation expense	2,895	2,334	7,992	7,712
Sales and marketing
Stock-based compensation expense for stock options, stock awards and employee stock purchases included in operations:
Stock-based compensation expense	1,787	1,267	5,061	4,392
General and administrative
Stock-based compensation expense for stock options, stock awards and employee stock purchases included in operations:
Stock-based compensation expense	$ 1,777	$ (755)	$ 6,779	$ 2,879

STOCK-BASED COMPENSATION - Perf

STOCK-BASED COMPENSATION - Performance-based Awards and Restricted Stock Units (Details) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($) $ / shares shares
Restricted Stock Units (RSUs)
Shares
Outstanding, shares at beginning of the period	1,096,000
Granted, shares	333,000
Vested, shares	(386,000)
Forfeited, shares	(22,000)
Outstanding, shares at ending of the period	1,021,000
Outstanding and expected to vest at ending of the period	946,000
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	$ 60.52
Granted | $ / shares	81.06
Vested | $ / shares	51.49
Forfeited | $ / shares	71.71
Outstanding, weighted-average grant date fair value per share, end of period | $ / shares	$ 70.39
Weighted-Average Remaining Contractual Term (In years)
Outstanding, weighted-average remaining contractual term (in years)	1 year 8 months 4 days
Outstanding and expected to vest, weighted-average remaining contractual term (in years)	1 year 7 months 2 days
Aggregate Intrinsic Value (In thousands)
Outstanding, Aggregate Intrinsic Value | $	$ 77,875
Outstanding and expected to vest, aggregate intrinsic value | $	$ 72,163
Long-Term Performance-Based Awards (PRSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period	3 years
Shares
Outstanding, shares at beginning of the period	236,000
Granted, shares	145,000
Vested, shares	(23,000)
Forfeited, shares	0
Outstanding, shares at ending of the period	358,000
Outstanding and expected to vest at ending of the period	6,000
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	$ 77.82
Granted | $ / shares	80.92
Vested | $ / shares	49.68
Forfeited | $ / shares	0
Outstanding, weighted-average grant date fair value per share, end of period | $ / shares	$ 80.89
Weighted-Average Remaining Contractual Term (In years)
Outstanding, weighted-average remaining contractual term (in years)	1 year 4 months 13 days
Outstanding and expected to vest, weighted-average remaining contractual term (in years)	2 years 3 months
Aggregate Intrinsic Value (In thousands)
Outstanding, Aggregate Intrinsic Value | $	$ 27,344
Outstanding and expected to vest, aggregate intrinsic value | $	$ 445
Performance Based Awards (PSUs)
Shares
Outstanding, shares at beginning of the period	34,000
Granted, shares	130,000
Vested, shares	(34,000)
Forfeited, shares	0
Outstanding, shares at ending of the period	130,000
Outstanding and expected to vest at ending of the period	39,000
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	$ 79.94
Granted | $ / shares	82.96
Vested | $ / shares	79.94
Forfeited | $ / shares	0
Outstanding, weighted-average grant date fair value per share, end of period | $ / shares	$ 82.96
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 | $	$ 9,964
Outstanding and expected to vest, aggregate intrinsic value | $	$ 2,989
Minimum | Long-Term Performance-Based Awards (PRSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance-based award shares released as a percentage of target number	0%
Minimum | Performance Based Awards (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance-based award shares released as a percentage of target number	0%
Maximum | Long-Term Performance-Based Awards (PRSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance-based award shares released as a percentage of target number	200%
Maximum | Performance Based Awards (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance-based award shares released as a 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, 2023 USD ($) customer	Sep. 30, 2022 USD ($) customer	Sep. 30, 2023 USD ($) customer segment	Sep. 30, 2022 USD ($) customer	Dec. 31, 2022 customer
Concentration Risk [Line Items]
Number of reportable segments | segment			1
NET REVENUES | $	$ 125,511	$ 160,233	$ 355,031	$ 526,368
Distributors
Concentration Risk [Line Items]
NET REVENUES | $	$ 93,200	$ 103,600	$ 238,700	$ 373,300
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%	28%	26%	30%
Net revenue | Customer concentration risk | Honestar Technologies Co., Ltd.
Concentration Risk [Line Items]
Concentration risk, percentage of total net revenues	23%		17%	12%
Net revenue | Customer concentration risk | Salcomp Group
Concentration Risk [Line Items]
Concentration risk, percentage of total net revenues		12%	11%
Net revenue | Customer concentration risk | Ten Customers
Concentration Risk [Line Items]
Concentration risk, percentage of total net revenues	83%	72%	81%	75%
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			41%		42%
Accounts receivable | Credit concentration risk | Honestar Technologies Co., Ltd.
Concentration Risk [Line Items]
Concentration risk percentage			12%
Accounts receivable | Credit concentration risk | Salcomp Group
Concentration Risk [Line Items]
Concentration risk percentage			10%		13%
Accounts receivable | Credit concentration risk | Flextronics Group
Concentration Risk [Line Items]
Concentration risk percentage					11%
Accounts receivable | Credit concentration risk | Ten Customers
Concentration Risk [Line Items]
Concentration risk percentage			89%		87%

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, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenue by Geography
Total net revenues	$ 125,511	$ 160,233	$ 355,031	$ 526,368
United States of America
Revenue by Geography
Total net revenues	2,208	8,387	6,903	22,862
Hong Kong/China
Revenue by Geography
Total net revenues	79,735	80,508	215,829	282,508
India
Revenue by Geography
Total net revenues	9,697	9,660	27,738	22,765
Taiwan
Revenue by Geography
Total net revenues	4,949	4,895	11,453	16,000
Korea
Revenue by Geography
Total net revenues	4,308	10,071	17,425	47,298
Western Europe (excluding Germany)
Revenue by Geography
Total net revenues	8,498	10,790	20,912	27,164
Japan
Revenue by Geography
Total net revenues	4,311	9,777	13,390	27,986
Germany
Revenue by Geography
Total net revenues	5,741	16,601	19,290	42,545
Other
Revenue by Geography
Total net revenues	$ 6,064	$ 9,544	$ 22,091	$ 37,240

STOCKHOLDERS' EQUITY - Common S

STOCKHOLDERS' EQUITY - Common Stock Shares Outstanding (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Common Stock Shares Outstanding [Abstract]
Beginning balance	57,351,000	57,134,000	56,961,000	59,913,000
Common stock issued under employee stock plans	59,000	61,000	529,000	785,000
Repurchased	(24,000)	0	(104,000)	(3,503,000)
Ending balance	57,386,000	57,195,000	57,386,000	57,195,000

STOCKHOLDERS' EQUITY - Common_2

STOCKHOLDERS' EQUITY - Common Stock Repurchases (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Stockholders' Equity Attributable to Parent [Abstract]
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 73.4		$ 73.4		$ 81.3
Repurchase of common stock (shares)	24,000	0	104,000	3,503,000
Repurchase of common stock	$ 1.8		$ 7.8

STOCKHOLDERS' EQUITY - Dividend

STOCKHOLDERS' EQUITY - Dividends (Details) $ / shares in Units, $ in Thousands	1 Months Ended			3 Months Ended		9 Months Ended
	Oct. 31, 2023 dividend $ / shares	Feb. 28, 2023 $ / shares	Jan. 31, 2022 $ / shares	Sep. 30, 2023 USD ($) $ / shares	Sep. 30, 2022 USD ($) $ / shares	Sep. 30, 2023 USD ($) $ / shares	Sep. 30, 2022 USD ($) $ / shares
Class of Stock [Line Items]
Dividends declared and paid | $				$ 10,904	$ 10,293	$ 32,665	$ 31,229
Dividends declared per common share				$ 0.19	$ 0.18	$ 0.57	$ 0.54
Common Stock, Dividends, Per Share, Declared, Prior Fiscal Year, Each Quarter			$ 0.18
Common Stock, Dividends, Per Share, Declared, Current Fiscal Year, Each Quarter		$ 0.19
Subsequent Event
Class of Stock [Line Items]
Common Stock, Dividends, Number of Quarterly Distributions Declared | dividend	5
Common Stock, Dividends Per Share Declared, Current Fiscal Year, Fourth Quarter	$ 0.20
Common Stock, Dividends, Per Share, Declared, Next Fiscal Year, Each Quarter	$ 0.20

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Basic earnings per share:
Net income	$ 19,796	$ 45,964	$ 41,464	$ 148,036
Weighted-average common shares	57,383,000	57,172,000	57,282,000	58,039,000
Basic earnings per share	$ 0.34	$ 0.80	$ 0.72	$ 2.55
Diluted earnings per share:
Net income	$ 19,796	$ 45,964	$ 41,464	$ 148,036
Weighted-average common shares	57,383,000	57,172,000	57,282,000	58,039,000
Effect of dilutive awards:
Employee stock plans	358,000	431,000	429,000	596,000
Diluted weighted-average common shares	57,741,000	57,603,000	57,711,000	58,635,000
Diluted earnings per share	$ 0.34	$ 0.80	$ 0.72	$ 2.52
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, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
PROVISION FOR INCOME TAXES
Effective income tax rate	5.10%	6.90%	5.10%	8.50%
Federal statutory tax rate	21%	21%	21%	21%

LEGAL PROCEEDINGS AND CONTING_2

LEGAL PROCEEDINGS AND CONTINGENCIES (Details) - Pending Litigation - patent			9 Months Ended
	Oct. 31, 2022	Jan. 06, 2020	Sep. 30, 2023
Patent Infringement Claim One
Gain and Loss Contingencies [Line Items]
Gain Contingency, Patents Allegedly Infringed upon, Number		2	3
Patent Infringement Claim Two
Gain and Loss Contingencies [Line Items]
Loss Contingency, Patents Allegedly Infringed, Number	1

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 19,796	$ 45,964	$ 41,464	$ 148,036

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2023 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Doug Bailey [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On August 30, 2023, Doug Bailey, our Vice President of Marketing, adopted a Rule 10b5-1 trading plan. Mr. Bailey’s Rule 10b5-1 trading plan provides for the potential sale of up to 12,000 shares of our common stock until November 30, 2024. This trading plan was entered into during an open window pursuant to the terms of our Insider Trading Policy. Such Rule 10b5-1 trading plan is intended to satisfy the affirmative defense of Rule 10b5-1(c) under the Exchange Act and our policies regarding transactions in our securities.
Name	Doug Bailey
Title	Vice President of Marketing
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	August 30, 2023
Aggregate Available	12,000