Cognex (CGNX) 10-Q 27 Apr 20 2020 Q1 Quarterly report Financial data

Cover Page

Cover Page	3 Months Ended
	Mar. 29, 2020shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 29, 2020
Document Transition Report	false
Entity File Number	001-34218
Entity Registrant Name	COGNEX CORP
Entity Central Index Key	0000851205
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Incorporation, State or Country Code	MA
Entity Tax Identification Number	04-2713778
Entity Address, Address Line One	One Vision Drive
Entity Address, City or Town	Natick
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01760
City Area Code	508
Local Phone Number	650-3000
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
Title of 12(b) Security	Common Stock, par value $.002 per share
Trading Symbol	CGNX
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding	171,688,004

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019
Income Statement [Abstract]
Revenue	$ 167,235	$ 173,484
Cost of revenue	41,200	46,284
Gross margin	126,035	127,200
Research, development, and engineering expenses	35,946	30,242
Selling, general, and administrative expenses	69,138	66,811
Operating income	20,951	30,147
Foreign currency gain (loss)	(3,003)	(248)
Investment income	5,229	4,905
Other income (expense)	(183)	927
Income before income tax expense	22,994	35,731
Income tax expense	2,517	2,627
Net Income	$ 20,477	$ 33,104
Net income per weighted-average common and common-equivalent share:
Basic (usd per share)	$ 0.12	$ 0.19
Diluted (usd per share)	$ 0.12	$ 0.19
Weighted-average common and common-equivalent shares outstanding:
Basic (shares)	172,408	171,098
Diluted (shares)	175,602	175,607
Cash dividends per common share (usd per share)	$ 0.055	$ 0.050

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 20,477	$ 33,104
Available-for-sale investments:
Net unrealized gain (loss), net of tax of ($952) and $268 in 2020 and 2019, respectively	(3,861)	2,251
Reclassification of credit loss on investments	160	0
Reclassification of net realized (gain) loss into current operations	(1,850)	(40)
Net change related to available-for-sale investments	(5,551)	2,211
Foreign currency translation adjustments:
Foreign currency translation adjustments	(7,365)	218
Other comprehensive income (loss), net of tax	(12,916)	2,429
Total comprehensive income	$ 7,561	$ 35,533

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
Tax effect on cash flow hedges	$ 0	$ 0
Tax effect of unrealized gain (loss) on available-for-sale investments	(952)	268
Tax effect of foreign currency translation adjustment	$ 0	$ 0

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 29, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 239,197	$ 171,431
Current investments	159,244	240,470
Accounts receivable, less reserves of $2,061 and $1,821 in 2020 and 2019, respectively	100,463	103,447
Unbilled revenue	5,485	4,782
Inventories	54,985	60,261
Prepaid expenses and other current assets	35,913	26,840
Total current assets	595,287	607,231
Non-current investments	446,955	433,452
Property, plant, and equipment, net	86,702	89,443
Operating lease assets	17,346	17,522
Goodwill	242,214	243,445
Intangible assets, net	38,102	39,490
Deferred income taxes	450,280	449,519
Other assets	8,191	5,833
Total assets	1,885,077	1,885,935
Current liabilities:
Accounts payable	16,195	17,866
Accrued expenses	63,955	52,199
Accrued income taxes	38,692	30,333
Deferred revenue and customer deposits	26,252	14,432
Operating lease liabilities	5,550	5,647
Total current liabilities	150,644	120,477
Operating Lease, Liability, Noncurrent	12,416	12,326
Deferred income taxes	330,532	332,344
Reserve for income taxes	11,891	11,563
Non-current accrued income taxes	48,915	51,113
Other liabilities	3,186	2,402
Total liabilities	557,584	530,225
Preferred Stock, Value, Outstanding	0	0
Shareholders’ equity:
Common stock, $.002 par value – Authorized: 300,000 shares in 2020 and 2019, respectively, issued and outstanding: 171,688 and 172,440 shares in 2020 and 2019, respectively	344	345
Additional paid-in capital	664,132	639,372
Retained earnings	713,208	753,268
Accumulated other comprehensive loss, net of tax	(50,191)	(37,275)
Total shareholders’ equity	1,327,493	1,355,710
Total liabilities and shareholders' equity	$ 1,885,077	$ 1,885,935

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 29, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Reserves for accounts receivable	$ 2,061	$ 1,821
Common stock, par value	$ 0.002	$ 0.002
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	171,688,000	172,440,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019
Cash flows from operating activities:
Net income	$ 20,477	$ 33,104
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation expense	14,790	12,281
Depreciation of property, plant, and equipment	5,631	5,175
Amortization of intangible assets	1,388	769
Amortization of discounts or premiums on investments	106	(1,461)
Realized (gain) loss on sale of investments	(1,850)	(40)
Reclassification of credit loss on investments	160	0
Revaluation of contingent consideration	0	(985)
Change in deferred income taxes	(1,826)	(1,140)
Accounts receivable	2,182	12,827
Unbilled revenue	(703)	(1,890)
Inventories	4,954	4,073
Prepaid expenses and other current assets	(9,788)	3,191
Accounts payable	(1,613)	4,245
Accrued expenses	12,720	(11,708)
Accrued income taxes	7,650	(3,501)
Deferred revenue and customer deposits	11,961	6,760
Other	(1,097)	(439)
Net cash provided by operating activities	65,142	61,261
Cash flows from investing activities:
Purchases of investments	(199,530)	(258,596)
Maturities and sales of investments	262,126	193,572
Purchases of property, plant, and equipment	(3,074)	(5,078)
Net cash provided by (used in) investing activities	59,522	(70,102)
Cash flows from financing activities:
Issuance of common stock under stock plans	9,971	14,346
Repurchase of common stock	(51,036)	0
Payment of dividends	(9,503)	(8,564)
Net cash provided by (used in) financing activities	(50,568)	5,782
Effect of foreign exchange rate changes on cash and cash equivalents	(6,330)	143
Net change in cash and cash equivalents	67,766	(2,916)
Cash and cash equivalents at beginning of period	171,431	108,212
Cash and cash equivalents at end of period	$ 239,197	$ 105,296

Consolidated Statement of Share

Consolidated Statement of Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning Balance (in shares) at Dec. 31, 2018		170,820
Beginning Balance at Dec. 31, 2018	$ 1,135,263	$ 342	$ 529,208	$ 646,214	$ (40,501)
Increase (Decrease) in Stockholders' Equity
Issuance of common stock under stock plans (in shares)		717
Issuance of common stock under stock plans	14,346	$ 1	14,345
Stock-based compensation expense	12,281		12,281
Payment of dividends	(8,564)			(8,564)
Net income	33,104			33,104
Net unrealized gain (loss) on available-for-sale investments, net of tax of ($82)	2,251				2,251
Reclassification of credit loss on investments	0
Reclassification of net realized (gain) loss on the sale of available-for-sale investments	(40)				(40)
Foreign currency translation adjustment	218				218
Ending Balance (in shares) at Mar. 31, 2019		171,537
Ending Balance at Mar. 31, 2019	$ 1,188,859	$ 343	555,834	670,754	(38,072)
Beginning Balance (in shares) at Dec. 31, 2019	172,440	172,440
Beginning Balance at Dec. 31, 2019	$ 1,355,710	$ 345	639,372	753,268	(37,275)
Increase (Decrease) in Stockholders' Equity
Issuance of common stock under stock plans (in shares)		463
Issuance of common stock under stock plans	9,971	$ 1	9,970
Repurchase of common stock (in shares)		(1,215)
Repurchase of common stock	(51,036)	$ (2)		(51,034)
Stock-based compensation expense	14,790		14,790
Payment of dividends	(9,503)			(9,503)
Net income	20,477			20,477
Net unrealized gain (loss) on available-for-sale investments, net of tax of ($82)	(3,861)				(3,861)
Reclassification of credit loss on investments	(160)				160
Reclassification of net realized (gain) loss on the sale of available-for-sale investments	(1,850)				(1,850)
Foreign currency translation adjustment	$ (7,365)				(7,365)
Ending Balance (in shares) at Mar. 29, 2020	171,688	171,688
Ending Balance at Mar. 29, 2020	$ 1,327,493	$ 344	$ 664,132	$ 713,208	$ (50,191)

Consolidated Statement of Sha_2

Consolidated Statement of Shareholders' Equity (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019
Statement of Stockholders' Equity [Abstract]
Tax effect of unrealized gain (loss) on available-for-sale investments	$ (952)	$ 268

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 29, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies As permitted by the rules of the Securities and Exchange Commission applicable to Quarterly Reports on Form 10-Q, these notes are condensed and do not contain all disclosures required by generally accepted accounting principles (GAAP). As a result of the adoption of ASU 2016-13 "Measurement of Credit Losses on Financial Instruments," Cognex Corporation (the "Company") has provided new disclosures related to credit losses in this Quarterly Report on Form 10-Q. Reference should be made to the consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 for a full description of other significant accounting policies. In the opinion of the management of the Company, the accompanying consolidated unaudited financial statements contain all adjustments, consisting of normal, recurring adjustments, and financial statement reclassifications necessary to present fairly the Company’s financial position as of March 29, 2020 , and the results of its operations for the three-month periods ended March 29, 2020 and March 31, 2019 , and changes in shareholders’ equity, comprehensive income, and cash flows for the periods presented. The results disclosed in the Consolidated Statements of Operations for the three-month period ended March 29, 2020 are not necessarily indicative of the results to be expected for the full year. Cash, Cash Equivalents, and Investments Money market instruments, as well as certificates of deposits and debt securities with original maturities of three months or less, are classified as cash equivalents and are stated at amortized cost. Certificates of deposit and debt securities with original maturities greater than three months and remaining maturities of one year or less are classified as current investments. Debt securities with remaining maturities greater than one year are classified as non-current investments. It is the Company’s policy to invest in debt securities with effective maturities that do not exceed ten years. Debt securities with original maturities greater than three months are designated as available-for-sale and are reported at fair value, with unrealized gains and losses, net of tax and credit losses, recorded in shareholders’ equity as other comprehensive income (loss). Realized gains and losses are included in current operations, along with the amortization of the discount or premium on debt securities arising at acquisition, and are calculated using the specific identification method. The Company’s limited partnership interest is accounted for using the cost method because the Company’s investment is less than 5% of the partnership and the Company has no influence over the partnership’s operating and financial policies. The carrying value of this investment has been reduced to zero, and therefore, distributions are recorded as investment income as they occur. Management monitors the carrying value of its investments in debt securities compared to their fair value to determine whether a credit loss or other type of impairment has occurred. If the fair value of a debt security is less than its amortized cost, the Company assesses whether the decline has resulted from a credit loss or other factors. In assessing whether a credit loss exists, the Company compares the present value of the cash flows expected to be collected from the security with the amortized cost basis of the security. If the present value of the cash flows expected to be collected is less than the amortized cost basis of the security, then a credit loss exists and an allowance for credit losses is recorded. The allowance for credit losses is limited by the amount that the fair value is less than the amortized cost basis of the security. Credit losses on impaired securities continue to be measured in subsequent periods, using the present value of expected future cash flows, and changes in the expected credit losses are recorded in current operations. Credit losses are included in "Other income (expense)" on the Consolidated Statement of Operations. When developing an estimate of the expected credit losses, the Company considers all available information relevant to assessing the collectability of cash flows. This information includes internal and external factors, historical and current events, reasonable and supportable forecasts including management's expectations of future economic conditions, the type of security, the credit rating of the security, the size of the loss position, as well as other relevant information. An impairment is recognized as a write-down if (i) the Company has the intent to sell the security or (ii) it is more likely than not that the Company will be required to sell the security before recovery of the entire amortized cost basis. If impairment is considered upon condition (i) or (ii) described above, the debt security's amortized cost basis is written-down to its fair value and the impairment is recognized in current operations. Subsequent increases in the fair value of the debt securities after the write-down are included in shareholders' equity as other comprehensive income. The differences between the new amortized cost basis and the cash flows expected to be collected are accreted as interest income. Unrealized losses, that have not been recorded through an allowance for credit losses or write-down of the debt security, are recorded in shareholders' equity as other comprehensive loss, net of the applicable taxes. Accounts Receivable The Company extends credit with various payment terms to customers based upon an evaluation of their financial condition. Accounts that are outstanding longer than the payment terms are considered to be past due. The Company establishes an allowance against accounts receivable for potential credit losses and records bad debt expense in current operations when it determines receivables are at risk for collection based upon the length of time the receivable has been outstanding, the customer’s current ability to pay its obligations to the Company, general economic and industry conditions, reasonable forecasts about the future, as well as various other factors. Receivables are written off against this allowance in the period they are determined to be uncollectible and payments subsequently received on previously written-off receivables are recorded as a reversal of the bad debt expense. Credit losses are included in "Selling, general, and administrative expenses" on the Consolidated Statement of Operations.

New Pronouncements

New Pronouncements	3 Months Ended
	Mar. 29, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
New Pronouncements	New Pronouncements Accounting Standards Update (ASU) 2019-12, "Simplifying the Accounting for Income Taxes" ASU 2019-12 applies to all entities within the scope of Topic 740, Income Taxes. The amendments in this ASU simplify the accounting for income taxes by removing the following exceptions: 1) exception to the incremental approach for intraperiod tax allocation when there is a loss from continuing operations and income or a gain from other items; 2) exception to the requirement to recognize a deferred tax liability for equity method investments when a foreign subsidiary becomes an equity method investment; 3) exception to the ability not to recognize a deferred tax liability for a foreign subsidiary when a foreign equity method investment becomes a subsidiary; and 4) exception to the general methodology for calculating income taxes in an interim period when a year-to-date loss exceeds the anticipated loss for the year. The amendments in this ASU also simplify the accounting for income taxes by doing the following: 1) requiring that an entity recognize a franchise tax that is partially based on income as an income-based tax and account for any incremental amount incurred as a non-income-based tax; 2) requiring that an entity evaluate when a step up in the tax basis of goodwill should be considered part of the business combination in which the book goodwill was originally recognized and when it should be considered a separate transaction; 3) specifying that an entity is not required to allocate the consolidated amount of current and deferred tax expense to a legal entity that is not subject to tax in its separate financial statements; and 4) requiring that an entity reflect the effect of an enacted change in tax laws or rates in the annual effective tax rate computation in the interim period that included the enacted date. The amendments in this ASU are effective for public companies for annual periods, and interim periods within those annual periods, beginning after December 15, 2020. Early adoption is permitted; however, an entity that elects to early adopt the amendments must adopt all the amendments in the same period. The amendments in this ASU related to separate financial statements of legal entities that are not subject to tax should be applied on a retrospective basis for all periods presented. The amendments related to changes in ownership of foreign equity method investments or foreign subsidiaries should be applied on a modified retrospective basis through a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year of adoption. The amendments related to franchise taxes that are partially based on income should be applied on either a retrospective basis for all periods presented or a modified retrospective basis through a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year of adoption. All other amendments should be applied on a prospective basis. Management does not expect ASU 2019-12 to have a material impact on the Company's consolidated financial statements and disclosures. Accounting Standards Update (ASU) 2020-04, "Reference Rate Reform (Topic 848)" The amendments in this ASU apply to all entities that have contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The amendments in this ASU provide optional expedients and exceptions for applying generally accepted accounting principles (GAAP) to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The expedients and exceptions provided by the amendments do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. The amendments in this ASU are effective for all entities as of March 12, 2020 through December 31, 2022. Management does not expect ASU 2020-04 to have a material impact on the Company's consolidated financial statements and disclosures.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 29, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Financial Assets and Liabilities that are Measured at Fair Value on a Recurring Basis The following table summarizes the financial assets and liabilities required to be measured at fair value on a recurring basis as of March 29, 2020 (in thousands): Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Assets: Money market instruments $ 13,990 $ — $ — Corporate bonds — 232,806 Treasury bills — 210,456 — Asset-backed securities — 121,351 — Sovereign bonds — 24,570 — Municipal bonds — 6,980 Agency bonds — 5,915 — Certificate of deposit 4,121 Economic hedge forward contracts — 131 — Liabilities: Economic hedge forward contracts — 703 — Contingent consideration liabilities — — 1,153 The Company’s money market instruments are reported at fair value based upon the daily market price for identical assets in active markets, and are therefore classified as Level 1. The Company’s debt securities and forward contracts are reported at fair value based upon model-driven valuations in which all significant inputs are observable or can be derived from or corroborated by observable market data for substantially the full term of the asset or liability, and are therefore classified as Level 2. Management is responsible for estimating the fair value of these financial assets and liabilities, and in doing so, considers valuations provided by a large, third-party pricing service. For debt securities, this service maintains regular contact with market makers, brokers, dealers, and analysts to gather information on market movement, direction, trends, and other specific data. They use this information to structure yield curves for various types of debt securities and arrive at the daily valuations. The Company's forward contracts are typically traded or executed in over-the-counter markets with a high degree of pricing transparency. The market participants are generally large commercial banks. The Company's certificate of deposit is valued at cost, which approximates fair value given its short term to maturity. The Company recorded credit losses on debt securities totaling $160,000 during the three -month period ended March 29, 2020 . No credit losses were recorded during the three-month period ended March 31, 2019 . The Company's contingent consideration liabilities are reported at fair value based upon probability-adjusted present values of the consideration expected to be paid using significant inputs that are not observable in the market and are therefore classified as Level 3. Key assumptions used in these estimates include probability assessments with respect to the likelihood of achieving certain revenue milestones. The fair values of these contingent consideration liabilities were calculated using discount rates consistent with the level of risk of achievement, and are remeasured each reporting period with changes in fair value recorded in "Other income (expense)" on the Consolidated Statements of Operations. The Company currently has two contingent consideration liabilities related to the Chiaro Technologies, LLC ("Chiaro") and GVi Ventures, Inc. ("GVi") acquisitions. The fair value of the Chiaro contingent consideration liability was $1,153,000 as of March 29, 2020 and December 31, 2019. The undiscounted potential outcomes related to future contingent consideration range from $0 to $1,250,000 based upon certain milestone revenue levels to be paid in 2020 if earned. The GVi contingent consideration liability was written down to zero as of December 31, 2019 resulting from a lower level of revenue in the Americas' automotive industry, and the balance remains at zero as of March 29, 2020. The undiscounted potential outcomes related to future contingent consideration range from $0 to $2,500,000 based upon certain revenue levels over the next two years. Non-financial Assets that are Measured at Fair Value on a Non-recurring Basis Non-financial assets such as property, plant and equipment, goodwill, and intangible assets are required to be measured at fair value only when an impairment loss is recognized. The Company did not record an impairment charge related to these assets during the three -month periods ended March 29, 2020 and March 31, 2019 .

Cash, Cash Equivalents, and Inv

Cash, Cash Equivalents, and Investments	3 Months Ended
	Mar. 29, 2020
Cash and Cash Equivalents [Abstract]
Cash, Cash Equivalents, and Investments	Cash, Cash Equivalents, and Investments Cash, cash equivalents, and investments consisted of the following (in thousands): March 29, 2020 December 31, 2019 Cash $ 225,207 $ 155,498 Money market instruments 13,990 15,933 Cash and cash equivalents 239,197 171,431 Asset-backed securities 69,956 66,680 Corporate bonds 54,937 65,624 Treasury bills 19,763 92,914 Municipal bonds 6,980 4,630 Certificate of deposit 4,121 4,328 Sovereign bonds 3,487 6,294 Current investments 159,244 240,470 Treasury bills 190,693 216,334 Corporate bonds 177,869 146,474 Asset-backed securities 51,395 46,403 Sovereign bonds 21,083 16,005 Agency bonds 5,915 5,914 Municipal bonds — 2,322 Non-current investments 446,955 433,452 $ 845,396 $ 845,353 Asset-backed securities consist of debt securities collateralized by pools of receivables or loans with credit enhancement; corporate bonds consist of debt securities issued by both domestic and foreign companies; treasury bills consist of debt securities issued by the U.S. government; municipal bonds consist of debt securities issued by state and local government entities; certificates of deposit are time deposits held by financial institutions with a fixed interest rate; sovereign bonds consist of direct debt issued by foreign governments; and agency bonds consist of domestic or foreign obligations of government agencies and government-sponsored enterprises that have government backing. All securities are denominated in U.S. Dollars and the certificate of deposit is denominated in Korean Won. On January 1, 2020, the Company adopted Accounting Standards Update (ASU) 2016-13, “Measurement of Credit Losses on Financial Instruments,” using the modified-retrospective approach, which requires the Company to apply the standard on a prospective basis with a cumulative-effect adjustment to retained earnings as of the beginning of the period in which the guidance is effective. The Company did not record an adjustment to retained earnings, as there were no debt securities with credit losses as of the adoption date. The following table summarizes the Company’s available-for-sale investments as of March 29, 2020 (in thousands): Amortized Gross Gross Fair Value Current: Asset-backed securities $ 70,510 $ 25 $ (579 ) $ 69,956 Corporate bonds 55,404 20 (487 ) 54,937 Treasury bills 19,328 435 — 19,763 Municipal bonds 6,944 36 — 6,980 Sovereign bonds 3,485 2 — 3,487 Non-current: Treasury bills 187,794 2,899 — 190,693 Corporate bonds 183,646 117 (5,894 ) 177,869 Asset-backed securities 52,405 55 (1,065 ) 51,395 Sovereign bonds 20,944 147 (8 ) 21,083 Agency bonds 5,930 — (15 ) 5,915 $ 606,390 $ 3,736 $ (8,048 ) $ 602,078 The following table summarizes the Company’s gross unrealized losses and fair values for available-for-sale investments in an unrealized loss position as of March 29, 2020 (in thousands): Unrealized Loss Position For: Less than 12 Months 12 Months or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Corporate bonds $ 195,755 $ (6,337 ) $ 1,146 $ (44 ) $ 196,901 $ (6,381 ) Asset-backed securities 108,932 (1,640 ) 674 (4 ) 109,606 (1,644 ) Sovereign bonds 13,662 (8 ) — — 13,662 (8 ) Agency bonds 3,123 (6 ) 2,792 (9 ) 5,915 (15 ) $ 321,472 $ (7,991 ) $ 4,612 $ (57 ) $ 326,084 $ (8,048 ) The Company recorded credit losses on debt securities totaling $160,000 during the three-month period ended March 29, 2020. No credit losses on debt securities were recorded during the three-month period ended March 31, 2019. Credit losses are included in "Other income (expense)" on the Consolidated Statement of Operations. Accrued interest receivable is recorded in "Prepaid expenses and other current assets" on the Consolidated Balance Sheet and amounted to $2,268,000 and $2,874,000 as of March 29, 2020 and December 31, 2019, respectively. In its evaluation to determine expected credit losses, management considered all available historical and current information, expectations of future economic conditions, the type of security, the credit rating of the security, and the size of the loss position, as well as other relevant information. The Company does not intend to sell, and is unlikely to be required to sell, any of these available-for-sale investments before their effective maturity or market price recovery. The following table summarizes the allowance for credit losses activity for the three-month period ended March 29, 2020 (in thousands): Balance as of December 31, 2019 $ — Increases to the allowance for credit losses 160 Write-offs — Balance as of March 29, 2020 $ 160 The Company recorded gross realized gains and gross realized losses on the sale of debt securities totaling $1,865,000 and $15,000 , respectively, during the three-month period ended March 29, 2020 and $64,000 and $24,000 , respectively, during the three-month period ended March 31, 2019 . These gains and losses are included in "Investment income" on the Consolidated Statements of Operations. Prior to the sale of these securities, unrealized gains and losses for these debt securities, net of tax, are recorded in shareholders’ equity as accumulated other comprehensive loss. The following table presents the effective maturity dates of the Company’s available-for-sale investments as of March 29, 2020 (in thousands): <1 year 1-2 Years 2-3 Years 3-4 Years 4-5 Years Total Corporate bonds $ 54,937 $ 87,940 $ 80,663 $ 9,266 $ — $ 232,806 Treasury bills 19,763 101,648 89,045 — — 210,456 Asset-backed securities 69,956 10,436 33,206 3,393 4,360 121,351 Sovereign bonds 3,487 21,083 — — — 24,570 Municipal bonds 6,980 — — — — 6,980 Agency bonds — — 5,915 — — 5,915 $ 155,123 $ 221,107 $ 208,829 $ 12,659 $ 4,360 $ 602,078

Inventories

Inventories	3 Months Ended
	Mar. 29, 2020
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consisted of the following (in thousands): March 29, 2020 December 31, 2019 Raw materials $ 23,246 $ 27,285 Work-in-process 6,034 5,503 Finished goods 25,705 27,473 $ 54,985 $ 60,261

Leases

Leases	3 Months Ended
	Mar. 29, 2020
Leases [Abstract]
Leases	Leases The Company's leases are primarily leased properties across different worldwide locations where the Company conducts its operations. All of these leases are classified as operating leases. Certain leases may contain options to extend or terminate the lease at the Company's sole discretion. There were no options to extend or terminate that were included in the determination of the lease term for the leases outstanding as of March 29, 2020 . Certain leases contain leasehold improvement incentives, retirement obligations, escalating clauses, rent holidays, and variable payments tied to a consumer price index. There were no restrictions or covenants for the leases outstanding as of March 29, 2020 . The total operating lease expense for the three-month periods ended March 29, 2020 and March 31, 2019 was $ 1,906,000 and $1,485,000 , respectively. The total operating lease cash payments for the three-month periods ended March 29, 2020 and March 31, 2019 were $ 1,863,000 and $1,401,000 , respectively. The total lease expense for leases with a term of twelve months or less for which the Company elected not to recognize a lease asset or lease liability was $ 39,000 and $169,000 for the three-month periods ended March 29, 2020 and March 31, 2019, respectively. Future operating lease cash payments are as follows (in thousands): Year Ended December 31, Amount Remainder of fiscal 2020 $ 5,001 2021 6,223 2022 4,739 2023 3,712 2024 1,490 2025 429 Thereafter — $ 21,594 The discounted present value of the future lease cash payments resulted in a lease liability of $ 17,966,000 and $17,973,000 as of March 29, 2020 and December 31, 2019, respectively. The Company did not have any leases that had not yet commenced but that created significant rights and obligations as of March 29, 2020 or March 31, 2019. The weighted-average discount rate was 4.4 % and 4.8% for the leases outstanding as of March 29, 2020 and March 31, 2019, respectively. The weighted-average remaining lease term was 3.7 and 4.1 for the leases outstanding as of March 29, 2020 and March 31, 2019, respectively. The Company owns a building adjacent to its corporate headquarters that is partially occupied by a tenant who has a lease agreement that will expire in 2022. Rental income was $77,000 for both periods ended March 29, 2020 and March 31, 2019 , respectively. Future minimum rental receipts under non-cancelable lease agreements are as follows (in thousands): Year Ended December 31, Amount Remainder of fiscal 2020 $ 230 2021 307 2022 307 $ 844

Goodwill (Notes)

Goodwill (Notes)	3 Months Ended
	Mar. 29, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill The changes in the carrying value of goodwill were as follows (in thousands): Balance as of December 31, 2019 $ 243,445 Foreign exchange rate changes (1,231 ) Balance as of March 29, 2020 $ 242,214

Intangible Assets

Intangible Assets	3 Months Ended
	Mar. 29, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets Amortized intangible assets consisted of the following (in thousands): Gross Carrying Value Accumulated Amortization Net Carrying Value Distribution networks $ 38,060 $ 38,060 $ — Completed technologies 31,987 10,154 21,833 Customer relationships 14,407 6,738 7,669 In-process technologies 8,200 — 8,200 Non-compete agreements 710 395 315 Trademarks 110 25 85 Balance as of March 29, 2020 $ 93,474 $ 55,372 $ 38,102 Gross Carrying Value Accumulated Amortization Net Carrying Value Distribution networks $ 38,060 $ 38,060 $ — Completed technologies 31,987 9,160 22,827 Customer relationships 14,407 6,402 8,005 In-process technologies 8,200 — 8,200 Non-compete agreements 710 350 360 Trademarks 110 12 98 Balance as of December 31, 2019 $ 93,474 $ 53,984 $ 39,490 In connection with the acquisition of Sualab Co., Ltd. ("Sualab") in the fourth quarter of 2019, the Company acquired in-process technologies valued at $ 8,200,000 . In-process technology is an indefinite-lived intangible asset until the technology is finalized, at which point it is amortized over its estimated useful life. As of March 29, 2020 , estimated future amortization expense related to intangible assets is as follows (in thousands): Year Ended December 31, Amount Remainder of fiscal 2020 $ 4,023 2021 5,232 2022 4,862 2023 4,160 2024 3,593 2025 3,270 Thereafter 4,762 $ 29,902

Warranty Obligations

Warranty Obligations	3 Months Ended
	Mar. 29, 2020
Product Warranties Disclosures [Abstract]
Warranty Obligations	Warranty Obligations The Company records the estimated cost of fulfilling product warranties at the time of sale based upon historical costs to fulfill claims. Obligations may also be recorded subsequent to the time of sale whenever specific events or circumstances impacting product quality become known that would not have been taken into account using historical data. While we engage in extensive product quality programs and processes, including actively monitoring and evaluating the quality of our component suppliers and third-party contract manufacturers, the Company’s warranty obligation is affected by product failure rates, material usage, and service delivery costs incurred in correcting a product failure. An adverse change in any of these factors may result in the need for additional warranty provisions. Warranty obligations are included in “Accrued expenses” on the Consolidated Balance Sheets. The changes in the warranty obligation were as follows (in thousands): Balance as of December 31, 2019 $ 4,713 Provisions for warranties issued during the period 725 Fulfillment of warranty obligations (419 ) Balance as of March 29, 2020 $ 5,019

Derivative Instruments

Derivative Instruments	3 Months Ended
	Mar. 29, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments The Company’s foreign currency risk management strategy is principally designed to mitigate the potential financial impact of changes in the value of transactions and balances denominated in foreign currencies resulting from changes in foreign currency exchange rates. Currently, the Company enters into economic hedges to manage this risk. The economic hedges utilize foreign currency forward contracts with maturities of up to 45 days to manage the exposure to fluctuations in foreign currency exchange rates arising primarily from foreign-denominated receivables and payables. The gains and losses on these derivatives are intended to be offset by the changes in the fair value of the assets and liabilities being hedged. These economic hedges are not designated as hedging instruments for hedge accounting treatment. The Company had the following outstanding forward contracts (in thousands): March 29, 2020 December 31, 2019 Currency Notional USD Notional USD Derivatives Not Designated as Hedging Instruments: Korean Won 130,400,000 $ 107,516 161,951,500 $ 139,688 Euro 37,500 41,275 18,000 20,249 Mexican Peso 180,000 7,647 80,000 4,223 Japanese Yen 600,000 5,540 575,000 5,291 British Pound 2,750 3,364 2,700 3,569 Hungarian Forint 980,000 3,026 870,000 2,962 Canadian Dollar 1,300 922 1,300 1,000 Taiwanese Dollar 22,000 735 37,450 1,256 Singapore Dollar — — 845 628 Information regarding the fair value of the outstanding forward contracts was as follows (in thousands): Asset Derivatives Liability Derivatives Balance Fair Value Balance Fair Value Sheet March 29, 2020 December 31, 2019 Sheet March 29, 2020 December 31, 2019 Derivatives Not Designated as Hedging Instruments: Economic hedge forward contracts Prepaid expenses and other current assets $ 131 $ 857 Accrued expenses $ 703 $ 23 The following table presents the gross activity for all derivative assets and liabilities which were presented on a net basis on the Consolidated Balance Sheets due to the right of offset with each counterparty (in thousands): Asset Derivatives Liability Derivatives March 29, 2020 December 31, 2019 March 29, 2020 December 31, 2019 Gross amounts of recognized assets $ 131 $ 857 Gross amounts of recognized liabilities $ 703 $ 23 Gross amounts offset — — Gross amounts offset — — Net amount of assets presented $ 131 $ 857 Net amount of liabilities presented $ 703 $ 23 Information regarding the effect of derivative instruments on the consolidated financial statements was as follows (in thousands): Location in Financial Statements Three-months Ended March 29, 2020 March 31, 2019 Derivatives Not Designated as Hedging Instruments: Gains (losses) recognized in current operations Foreign currency gain (loss) $ (8,240 ) $ 505

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 29, 2020
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition The following table summarizes disaggregated revenue information by geographic area based upon the customer's country of domicile (in thousands): Three-months Ended March 29, 2020 March 31, 2019 Americas $ 60,247 $ 64,770 Europe 48,582 59,539 Greater China 26,403 22,816 Other Asia 32,003 26,359 $ 167,235 $ 173,484 The following table summarizes disaggregated revenue information by revenue type (in thousands): Three-months Ended March 29, 2020 March 31, 2020 Standard products and services $ 152,854 $ 161,052 Application-specific customer solutions 14,381 12,432 $ 167,235 $ 173,484 Costs to Fulfill a Contract Costs to fulfill a contract are included in "Prepaid expenses and other current assets" on the Consolidated Balance Sheet and amounted to $5,835,000 and $3,963,000 as of March 29, 2020 and December 31, 2019, respectively. Accounts Receivable, Contract Assets, and Contract Liabilities Accounts receivable represent amounts billed and currently due from customers which are reported at their net estimated realizable value. The Company maintains an allowance against its accounts receivable for potential credit losses. Contract assets consist of unbilled revenue which arises when revenue is recognized in advance of billing for certain application-specific customer solutions contracts. Contract liabilities consist of deferred revenue and customer deposits which arise when amounts are billed to or collected from customers in advance of revenue recognition. On January 1, 2020, the Company adopted Accounting Standards Update (ASU) 2016-13, “Measurement of Credit Losses on Financial Instruments,” using the modified-retrospective approach, which requires the Company to apply the standard on a prospective basis with a cumulative-effect adjustment to retained earnings as of the beginning of the period in which the guidance is effective. The Company did not record an adjustment to retained earnings as this ASU did not have a material impact on the Company's consolidated allowance for credit losses. The Company recorded credit losses on accounts receivable of $300,000 for the three-month period ended March 29, 2020 . No credit losses on accounts receivables were recorded during the three-month period ended March 31, 2019 . The following table summarizes the allowance for credit losses activity for the three-month period ended March 29, 2020 (in thousands): Balance as of December 31, 2019 $ 530 Increases to the allowance for credit losses 300 Write-offs (64 ) Foreign exchange rate changes 5 Balance as of March 29, 2020 $ 771 The following table summarizes the deferred revenue and customer deposits activity for the three-month period ended March 29, 2020 (in thousands): Balance as of December 31, 2019 $ 14,432 Increases to deferred revenue and customer deposits 24,625 Recognition of revenue (12,670 ) Foreign exchange rate changes (135 ) Balance as of March 29, 2020 $ 26,252 As a practical expedient, the Company has elected not to disclose the aggregate amount of the transaction price allocated to unsatisfied performance obligations, as our contracts have an original expected duration of less than one year.

Stock-Based Compensation Expens

Stock-Based Compensation Expense	3 Months Ended
	Mar. 29, 2020
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation Expense	Stock-Based Compensation Expense Stock Plans The Company’s stock-based awards that result in compensation expense consist of stock options and restricted stock units ("RSUs"). As of March 29, 2020 , the Company had 16,115,000 shares available for grant. Stock options are granted with an exercise price equal to the market value of the Company’s common stock at the grant date and generally vest over four or five years based upon continuous service and expire ten years from the grant date. RSUs generally vest upon three years of continuous employment or incrementally over such three-year period. Participants are not entitled to dividends on RSUs. Stock Options The following table summarizes the Company’s stock option activity for the three -month period ended March 29, 2020 : Shares (in thousands) Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (in thousands) Outstanding as of December 31, 2019 12,899 $ 37.95 Granted 883 50.94 Exercised (463 ) 21.52 Forfeited or expired (83 ) 50.10 Outstanding as of March 29, 2020 13,236 $ 39.32 7.12 $ 113,087 Exercisable as of March 29. 2020 6,652 $ 30.93 6.01 $ 98,637 Options vested or expected to vest as of March 29, 2020 (1) 12,139 $ 38.37 6.98 $ 112,251 (1) In addition to the vested options, the Company expects a portion of the unvested options to vest at some point in the future. Options expected to vest are calculated by applying an estimated forfeiture rate to the unvested options. The fair values of stock options granted in each period presented were estimated using the following weighted-average assumptions: Three-months Ended March 29, 2020 March 31, 2019 Risk-free rate 1.6 % 2.7 % Expected dividend yield 0.43 % 0.39 % Expected volatility 37 % 37 % Expected term (in years) 6.0 5.3 Risk-free rate The risk-free rate was based upon a treasury instrument whose term was consistent with the contractual term of the option. Expected dividend yield Generally, the current dividend yield is calculated by annualizing the cash dividend declared by the Company’s Board of Directors and dividing that result by the closing stock price on the grant date. Expected volatility The expected volatility was based upon a combination of historical volatility of the Company’s common stock over the contractual term of the option and implied volatility for traded options of the Company’s stock. Expected term The expected term was derived from the binomial lattice model from the impact of events that trigger exercises over time. The weighted-average grant-date fair values of stock options granted during the three-month periods ended March 29, 2020 and March 31, 2019 were $18.46 and $18.59 , respectively. The total intrinsic values of stock options exercised for the three-month periods ended March 29, 2020 and March 31, 2019 were $14,454,000 and $22,579,000 , respectively. The total fair values of stock options vested for the three-month periods ended March 29, 2020 and March 31, 2019 were $36,664,000 and $29,972,000 , respectively. Restricted Stock Units (RSUs) The following table summarizes the Company's RSUs activity for the three-month period ended March 29, 2020: Shares (in thousands) Weighted-Average Grant Date Fair Value Nonvested as of December 31, 2019 150 $ 48.63 Granted 390 50.94 Vested — — Forfeited or expired (4 ) 50.28 Nonvested as of March 29, 2020 536 $ 50.30 The weighted-average grant-date fair values of RSUs granted during the three-month period ended March 29, 2020 was $50.94 . There were no RSUs that vested during the three-month period ended March 29, 2020. There were no RSUs granted or vested during the three-month period ended March 31, 2019. Stock-Based Compensation Expense The Company stratifies its employee population into two groups: one consisting of senior management and another consisting of all other employees. The Company currently applies an estimated annual forfeiture rate of 7% to all equity awards for senior management and a rate of 12% for all other employees. Each year during the first quarter, the Company revises its forfeiture rate. This resulted in an increase to compensation expense of $1,787,000 in 2020 and a decrease to compensation expense of $499,000 in 2019. As of March 29, 2020 , total unrecognized compensation expense related to non-vested equity awards, including stock options and RSUs, was $72,823,000 , which is expected to be recognized over a weighted-average period of 2.21 years. The total stock-based compensation expense and the related income tax benefit recognized for the three-month period ended March 29, 2020 were $14,790,000 and $2,564,000 , respectively, and for the three-month period ended March 31, 2019 were $12,281,000 and $2,222,000 , respectively. No compensation expense was capitalized as of March 29, 2020 or December 31, 2019 . The following table presents the stock-based compensation expense by caption for each period presented on the Consolidated Statements of Operations (in thousands): Three-months Ended March 29, 2020 March 31, 2019 Cost of revenue $ 354 $ 451 Research, development, and engineering 5,366 4,467 Selling, general, and administrative 9,070 7,363 $ 14,790 $ 12,281

Stock Repurchase Program

Stock Repurchase Program	3 Months Ended
	Mar. 29, 2020
Equity [Abstract]
Stock Repurchase Program	Stock Repurchase Program In October 2018, the Company's Board of Directors authorized the repurchase of $200,000,000 of the Company's common stock. As of March 29, 2020 , the Company repurchased 2,816,000 shares at a cost of $121,348,000 under this program, including 1,215,000 shares at a cost of $51,036,000 during the three-month period ended March 29, 2020 , leaving a remaining balance of $78,652,000 . On March 12, 2020 the Company's Board of Directors authorized the repurchase of an additional $200,000,000

Taxes

Taxes	3 Months Ended
	Mar. 29, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Taxes A reconciliation of the United States federal statutory corporate tax rate to the Company’s income tax expense, or effective tax rate, was as follows: Three-months Ended March 29, 2020 March 31, 2019 Income tax expense at U.S. federal statutory corporate tax rate 21 % 21 % State income taxes, net of federal benefit 1 % 1 % Foreign tax rate differential (6 )% (9 )% Tax credit (1 )% — % Discrete tax benefit related to stock options (7 )% (8 )% Other discrete tax events 1 % — % Other 2 % 2 % Income tax expense 11 % 7 % The Company is tax resident in numerous jurisdictions around the world and has identified its major tax jurisdictions as the United States, Ireland, and China. The statutory tax rate is 12.5% in Ireland and 25% in China, compared to the U.S. federal statutory corporate tax rate of 21% . These differences resulted in a decrease in the effective tax rate by 6 and 9 percentage points for the three-month periods ended March 29, 2020 and March 31, 2019, respectively. Management has determined that earnings from its legal entity in China will be indefinitely reinvested to provide local funding for growth, and that earnings from all other jurisdictions will not be indefinitely reinvested. The excess tax benefit arising from the difference between the deduction for tax purposes and the compensation cost recognized for financial reporting purposes from stock option exercises resulted in a decrease in the effective tax rate by 7 and 8 percentage points for the three-month periods ended March 29, 2020 and March 31, 2019 , respectively. During the three -month period ended March 29, 2020 , the Company recorded a $306,000 increase in reserves for income taxes, net of deferred tax benefit. Estimated interest and penalties included in these amounts totaled $155,000 for the three -month period ended March 29, 2020 . The Company’s reserve for income taxes, including gross interest and penalties, was $12,919,000 as of March 29, 2020 , which included $11,891,000 classified as a non-current liability and $1,028,000 recorded as an increase to a non-current deferred tax liability. The amount of gross interest and penalties included in these balances was $1,109,000 . If the Company’s tax positions were sustained or the statutes of limitations related to certain positions expired, these reserves would be released and income tax expense would be reduced in a future period. As a result of the expiration of certain statutes of limitations, there is a potential that a portion of these reserves could be released, which would decrease income tax expense by approximately $1,300,000 to $1,400,000 over the next twelve months. The Company has defined its major tax jurisdictions as the United States, Ireland, and China, and within the United States, Massachusetts. Within the United States, the tax years 2016 through 2019 remain open to examination by the Internal Revenue Service and various state tax authorities. The tax years 2015 through 2019

Weighted-Average Shares

Weighted-Average Shares	3 Months Ended
	Mar. 29, 2020
Earnings Per Share [Abstract]
Weighted-Average Shares	Weighted-Average Shares Weighted-average shares were calculated as follows (in thousands): Three-months Ended March 29, 2020 March 31, 2019 Basic weighted-average common shares outstanding 172,408 171,098 Effect of dilutive equity awards 3,194 4,509 Weighted-average common and common-equivalent shares outstanding 175,602 175,607 Stock options to purchase 6,273,000 and 4,832,000 shares of common stock, on a weighted-average basis, were outstanding during the three-month periods ended March 29, 2020 and March 31, 2019, respectively, but were not included in the calculation of dilutive net income per share because they were anti-dilutive. There were no anti-dilutive restricted stock units outstanding, on a weighted-average basis, during the three-month periods ended March 29, 2020 and March 31, 2019, respectively.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 29, 2020
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On April 27, 2020, the Company’s Board of Directors declared a cash dividend of $0.055 per share. The dividend is payable on May 29, 2020 to all shareholders of record as of the close of business on May 15, 2020 . In April 2020, recent interpretations of a German law relating to withholding taxes on intellectual property rights have emerged. The Company is currently evaluating this law and any related impact to its financial position or results of operations. The COVID-19 (also referred to as "coronavirus") outbreak had a modest adverse impact on our business in the first quarter of 2020, primarily near the end of the quarter. This impact has expanded and accelerated into the second quarter, as we have noted lower demand for our products in certain industries, additional disruptions to our supply chain, longer customer delivery times, higher delivery costs, and further shutdowns of customer facilities. While it is difficult for us to quantify the duration and severity of this impact due to many factors beyond our control and knowledge, including changing governmental regulations and the scope and duration of social distancing and commerce restrictions, we expect the impact on our business to be more significant in the second quarter than the first quarter of 2020.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 29, 2020
Accounting Policies [Abstract]
Cash, Cash Equivalents, and Investments	Cash, Cash Equivalents, and Investments Money market instruments, as well as certificates of deposits and debt securities with original maturities of three months or less, are classified as cash equivalents and are stated at amortized cost. Certificates of deposit and debt securities with original maturities greater than three months and remaining maturities of one year or less are classified as current investments. Debt securities with remaining maturities greater than one year are classified as non-current investments. It is the Company’s policy to invest in debt securities with effective maturities that do not exceed ten years. Debt securities with original maturities greater than three months are designated as available-for-sale and are reported at fair value, with unrealized gains and losses, net of tax and credit losses, recorded in shareholders’ equity as other comprehensive income (loss). Realized gains and losses are included in current operations, along with the amortization of the discount or premium on debt securities arising at acquisition, and are calculated using the specific identification method. The Company’s limited partnership interest is accounted for using the cost method because the Company’s investment is less than 5% of the partnership and the Company has no influence over the partnership’s operating and financial policies. The carrying value of this investment has been reduced to zero, and therefore, distributions are recorded as investment income as they occur. Management monitors the carrying value of its investments in debt securities compared to their fair value to determine whether a credit loss or other type of impairment has occurred. If the fair value of a debt security is less than its amortized cost, the Company assesses whether the decline has resulted from a credit loss or other factors. In assessing whether a credit loss exists, the Company compares the present value of the cash flows expected to be collected from the security with the amortized cost basis of the security. If the present value of the cash flows expected to be collected is less than the amortized cost basis of the security, then a credit loss exists and an allowance for credit losses is recorded. The allowance for credit losses is limited by the amount that the fair value is less than the amortized cost basis of the security. Credit losses on impaired securities continue to be measured in subsequent periods, using the present value of expected future cash flows, and changes in the expected credit losses are recorded in current operations. Credit losses are included in "Other income (expense)" on the Consolidated Statement of Operations. When developing an estimate of the expected credit losses, the Company considers all available information relevant to assessing the collectability of cash flows. This information includes internal and external factors, historical and current events, reasonable and supportable forecasts including management's expectations of future economic conditions, the type of security, the credit rating of the security, the size of the loss position, as well as other relevant information. An impairment is recognized as a write-down if (i) the Company has the intent to sell the security or (ii) it is more likely than not that the Company will be required to sell the security before recovery of the entire amortized cost basis. If impairment is considered upon condition (i) or (ii) described above, the debt security's amortized cost basis is written-down to its fair value and the impairment is recognized in current operations. Subsequent increases in the fair value of the debt securities after the write-down are included in shareholders' equity as other comprehensive income. The differences between the new amortized cost basis and the cash flows expected to be collected are accreted as interest income. Unrealized losses, that have not been recorded through an allowance for credit losses or write-down of the debt security, are recorded in shareholders' equity as other comprehensive loss, net of the applicable taxes.
Accounts Receivable	Accounts Receivable The Company extends credit with various payment terms to customers based upon an evaluation of their financial condition. Accounts that are outstanding longer than the payment terms are considered to be past due. The Company establishes an allowance against accounts receivable for potential credit losses and records bad debt expense in current operations when it determines receivables are at risk for collection based upon the length of time the receivable has been outstanding, the customer’s current ability to pay its obligations to the Company, general economic and industry conditions, reasonable forecasts about the future, as well as various other factors. Receivables are written off against this allowance in the period they are determined to be uncollectible and payments subsequently received on previously written-off receivables are recorded as a reversal of the bad debt expense. Credit losses are included in "Selling, general, and administrative expenses" on the Consolidated Statement of Operations.
New Pronouncements	ew Pronouncements Accounting Standards Update (ASU) 2019-12, "Simplifying the Accounting for Income Taxes" ASU 2019-12 applies to all entities within the scope of Topic 740, Income Taxes. The amendments in this ASU simplify the accounting for income taxes by removing the following exceptions: 1) exception to the incremental approach for intraperiod tax allocation when there is a loss from continuing operations and income or a gain from other items; 2) exception to the requirement to recognize a deferred tax liability for equity method investments when a foreign subsidiary becomes an equity method investment; 3) exception to the ability not to recognize a deferred tax liability for a foreign subsidiary when a foreign equity method investment becomes a subsidiary; and 4) exception to the general methodology for calculating income taxes in an interim period when a year-to-date loss exceeds the anticipated loss for the year. The amendments in this ASU also simplify the accounting for income taxes by doing the following: 1) requiring that an entity recognize a franchise tax that is partially based on income as an income-based tax and account for any incremental amount incurred as a non-income-based tax; 2) requiring that an entity evaluate when a step up in the tax basis of goodwill should be considered part of the business combination in which the book goodwill was originally recognized and when it should be considered a separate transaction; 3) specifying that an entity is not required to allocate the consolidated amount of current and deferred tax expense to a legal entity that is not subject to tax in its separate financial statements; and 4) requiring that an entity reflect the effect of an enacted change in tax laws or rates in the annual effective tax rate computation in the interim period that included the enacted date. The amendments in this ASU are effective for public companies for annual periods, and interim periods within those annual periods, beginning after December 15, 2020. Early adoption is permitted; however, an entity that elects to early adopt the amendments must adopt all the amendments in the same period. The amendments in this ASU related to separate financial statements of legal entities that are not subject to tax should be applied on a retrospective basis for all periods presented. The amendments related to changes in ownership of foreign equity method investments or foreign subsidiaries should be applied on a modified retrospective basis through a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year of adoption. The amendments related to franchise taxes that are partially based on income should be applied on either a retrospective basis for all periods presented or a modified retrospective basis through a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year of adoption. All other amendments should be applied on a prospective basis. Management does not expect ASU 2019-12 to have a material impact on the Company's consolidated financial statements and disclosures. Accounting Standards Update (ASU) 2020-04, "Reference Rate Reform (Topic 848)" The amendments in this ASU apply to all entities that have contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The amendments in this ASU provide optional expedients and exceptions for applying generally accepted accounting principles (GAAP) to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The expedients and exceptions provided by the amendments do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. The amendments in this ASU are effective for all entities as of March 12, 2020 through December 31, 2022. Management does not expect ASU 2020-04 to have a material impact on the Company's consolidated financial statements and disclosures.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 29, 2020
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following table summarizes the financial assets and liabilities required to be measured at fair value on a recurring basis as of March 29, 2020 (in thousands): Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Assets: Money market instruments $ 13,990 $ — $ — Corporate bonds — 232,806 Treasury bills — 210,456 — Asset-backed securities — 121,351 — Sovereign bonds — 24,570 — Municipal bonds — 6,980 Agency bonds — 5,915 — Certificate of deposit 4,121 Economic hedge forward contracts — 131 — Liabilities: Economic hedge forward contracts — 703 — Contingent consideration liabilities — — 1,153
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	The undiscounted potential outcomes related to future contingent consideration range from $0 to $1,250,000 based upon certain milestone revenue levels to be paid in 2020 if earned. The GVi contingent consideration liability was written down to zero as of December 31, 2019 resulting from a lower level of revenue in the Americas' automotive industry, and the balance remains at zero as of March 29, 2020. The undiscounted potential outcomes related to future contingent consideration range from $0 to $2,500,000 based upon certain revenue levels over the next two years.

Cash, Cash Equivalents, and I_2

Cash, Cash Equivalents, and Investments (Tables)	3 Months Ended
	Mar. 29, 2020
Cash and Cash Equivalents [Abstract]
Components of Cash, Cash Equivalents, and Investments	Cash, cash equivalents, and investments consisted of the following (in thousands): March 29, 2020 December 31, 2019 Cash $ 225,207 $ 155,498 Money market instruments 13,990 15,933 Cash and cash equivalents 239,197 171,431 Asset-backed securities 69,956 66,680 Corporate bonds 54,937 65,624 Treasury bills 19,763 92,914 Municipal bonds 6,980 4,630 Certificate of deposit 4,121 4,328 Sovereign bonds 3,487 6,294 Current investments 159,244 240,470 Treasury bills 190,693 216,334 Corporate bonds 177,869 146,474 Asset-backed securities 51,395 46,403 Sovereign bonds 21,083 16,005 Agency bonds 5,915 5,914 Municipal bonds — 2,322 Non-current investments 446,955 433,452 $ 845,396 $ 845,353
Summary of Available-for-Sale Investments	The following table summarizes the Company’s available-for-sale investments as of March 29, 2020 (in thousands): Amortized Gross Gross Fair Value Current: Asset-backed securities $ 70,510 $ 25 $ (579 ) $ 69,956 Corporate bonds 55,404 20 (487 ) 54,937 Treasury bills 19,328 435 — 19,763 Municipal bonds 6,944 36 — 6,980 Sovereign bonds 3,485 2 — 3,487 Non-current: Treasury bills 187,794 2,899 — 190,693 Corporate bonds 183,646 117 (5,894 ) 177,869 Asset-backed securities 52,405 55 (1,065 ) 51,395 Sovereign bonds 20,944 147 (8 ) 21,083 Agency bonds 5,930 — (15 ) 5,915 $ 606,390 $ 3,736 $ (8,048 ) $ 602,078
Gross Unrealized Losses and Fair Values for Available-for-Sale Investments	The following table summarizes the Company’s gross unrealized losses and fair values for available-for-sale investments in an unrealized loss position as of March 29, 2020 (in thousands): Unrealized Loss Position For: Less than 12 Months 12 Months or Greater Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Corporate bonds $ 195,755 $ (6,337 ) $ 1,146 $ (44 ) $ 196,901 $ (6,381 ) Asset-backed securities 108,932 (1,640 ) 674 (4 ) 109,606 (1,644 ) Sovereign bonds 13,662 (8 ) — — 13,662 (8 ) Agency bonds 3,123 (6 ) 2,792 (9 ) 5,915 (15 ) $ 321,472 $ (7,991 ) $ 4,612 $ (57 ) $ 326,084 $ (8,048 )
Schedule of Allowance for Credit Loss Activity	The following table summarizes the allowance for credit losses activity for the three-month period ended March 29, 2020 (in thousands): Balance as of December 31, 2019 $ — Increases to the allowance for credit losses 160 Write-offs — Balance as of March 29, 2020 $ 160
Effective Maturity Dates of Available-for-Sale Investments	The following table presents the effective maturity dates of the Company’s available-for-sale investments as of March 29, 2020 (in thousands): <1 year 1-2 Years 2-3 Years 3-4 Years 4-5 Years Total Corporate bonds $ 54,937 $ 87,940 $ 80,663 $ 9,266 $ — $ 232,806 Treasury bills 19,763 101,648 89,045 — — 210,456 Asset-backed securities 69,956 10,436 33,206 3,393 4,360 121,351 Sovereign bonds 3,487 21,083 — — — 24,570 Municipal bonds 6,980 — — — — 6,980 Agency bonds — — 5,915 — — 5,915 $ 155,123 $ 221,107 $ 208,829 $ 12,659 $ 4,360 $ 602,078

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 29, 2020
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consisted of the following (in thousands): March 29, 2020 December 31, 2019 Raw materials $ 23,246 $ 27,285 Work-in-process 6,034 5,503 Finished goods 25,705 27,473 $ 54,985 $ 60,261

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 29, 2020
Leases [Abstract]
Lessor, Operating Lease, Payments to be Received, Maturity [Table Text Block]	Future minimum rental receipts under non-cancelable lease agreements are as follows (in thousands): Year Ended December 31, Amount Remainder of fiscal 2020 $ 230 2021 307 2022 307 $ 844
Lessee, Operating Lease, Liability, Maturity	Future operating lease cash payments are as follows (in thousands): Year Ended December 31, Amount Remainder of fiscal 2020 $ 5,001 2021 6,223 2022 4,739 2023 3,712 2024 1,490 2025 429 Thereafter — $ 21,594

Goodwill (Tables)

Goodwill (Tables)	3 Months Ended
	Mar. 29, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The changes in the carrying value of goodwill were as follows (in thousands): Balance as of December 31, 2019 $ 243,445 Foreign exchange rate changes (1,231 ) Balance as of March 29, 2020 $ 242,214

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Mar. 29, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	Amortized intangible assets consisted of the following (in thousands): Gross Carrying Value Accumulated Amortization Net Carrying Value Distribution networks $ 38,060 $ 38,060 $ — Completed technologies 31,987 10,154 21,833 Customer relationships 14,407 6,738 7,669 In-process technologies 8,200 — 8,200 Non-compete agreements 710 395 315 Trademarks 110 25 85 Balance as of March 29, 2020 $ 93,474 $ 55,372 $ 38,102 Gross Carrying Value Accumulated Amortization Net Carrying Value Distribution networks $ 38,060 $ 38,060 $ — Completed technologies 31,987 9,160 22,827 Customer relationships 14,407 6,402 8,005 In-process technologies 8,200 — 8,200 Non-compete agreements 710 350 360 Trademarks 110 12 98 Balance as of December 31, 2019 $ 93,474 $ 53,984 $ 39,490
Schedule of Intangible Assets, Future Amortization Expense	As of March 29, 2020 , estimated future amortization expense related to intangible assets is as follows (in thousands): Year Ended December 31, Amount Remainder of fiscal 2020 $ 4,023 2021 5,232 2022 4,862 2023 4,160 2024 3,593 2025 3,270 Thereafter 4,762 $ 29,902

Warranty Obligations (Tables)

Warranty Obligations (Tables)	3 Months Ended
	Mar. 29, 2020
Product Warranties Disclosures [Abstract]
Changes in Warranty Obligations	The changes in the warranty obligation were as follows (in thousands): Balance as of December 31, 2019 $ 4,713 Provisions for warranties issued during the period 725 Fulfillment of warranty obligations (419 ) Balance as of March 29, 2020 $ 5,019

Derivative Instruments (Tables)

Derivative Instruments (Tables)	3 Months Ended
	Mar. 29, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Outstanding Forward Contracts Table	The Company had the following outstanding forward contracts (in thousands): March 29, 2020 December 31, 2019 Currency Notional USD Notional USD Derivatives Not Designated as Hedging Instruments: Korean Won 130,400,000 $ 107,516 161,951,500 $ 139,688 Euro 37,500 41,275 18,000 20,249 Mexican Peso 180,000 7,647 80,000 4,223 Japanese Yen 600,000 5,540 575,000 5,291 British Pound 2,750 3,364 2,700 3,569 Hungarian Forint 980,000 3,026 870,000 2,962 Canadian Dollar 1,300 922 1,300 1,000 Taiwanese Dollar 22,000 735 37,450 1,256 Singapore Dollar — — 845 628
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	Information regarding the fair value of the outstanding forward contracts was as follows (in thousands): Asset Derivatives Liability Derivatives Balance Fair Value Balance Fair Value Sheet March 29, 2020 December 31, 2019 Sheet March 29, 2020 December 31, 2019 Derivatives Not Designated as Hedging Instruments: Economic hedge forward contracts Prepaid expenses and other current assets $ 131 $ 857 Accrued expenses $ 703 $ 23
Offsetting Assets	The following table presents the gross activity for all derivative assets and liabilities which were presented on a net basis on the Consolidated Balance Sheets due to the right of offset with each counterparty (in thousands): Asset Derivatives Liability Derivatives March 29, 2020 December 31, 2019 March 29, 2020 December 31, 2019 Gross amounts of recognized assets $ 131 $ 857 Gross amounts of recognized liabilities $ 703 $ 23 Gross amounts offset — — Gross amounts offset — — Net amount of assets presented $ 131 $ 857 Net amount of liabilities presented $ 703 $ 23
Derivative Instruments, Gain (Loss)	Information regarding the effect of derivative instruments on the consolidated financial statements was as follows (in thousands): Location in Financial Statements Three-months Ended March 29, 2020 March 31, 2019 Derivatives Not Designated as Hedging Instruments: Gains (losses) recognized in current operations Foreign currency gain (loss) $ (8,240 ) $ 505

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 29, 2020
Revenue from Contract with Customer [Abstract]
Revenue from External Customers by Geographic Areas	The following table summarizes disaggregated revenue information by geographic area based upon the customer's country of domicile (in thousands): Three-months Ended March 29, 2020 March 31, 2019 Americas $ 60,247 $ 64,770 Europe 48,582 59,539 Greater China 26,403 22,816 Other Asia 32,003 26,359 $ 167,235 $ 173,484
Revenue from External Customers by Products and Services	The following table summarizes disaggregated revenue information by revenue type (in thousands): Three-months Ended March 29, 2020 March 31, 2020 Standard products and services $ 152,854 $ 161,052 Application-specific customer solutions 14,381 12,432 $ 167,235 $ 173,484
Schedule of Allowance for Credit Loss Activity	The following table summarizes the allowance for credit losses activity for the three-month period ended March 29, 2020 (in thousands): Balance as of December 31, 2019 $ 530 Increases to the allowance for credit losses 300 Write-offs (64 ) Foreign exchange rate changes 5 Balance as of March 29, 2020 $ 771
Deferred Revenue, by Arrangement, Disclosure	The following table summarizes the deferred revenue and customer deposits activity for the three-month period ended March 29, 2020 (in thousands): Balance as of December 31, 2019 $ 14,432 Increases to deferred revenue and customer deposits 24,625 Recognition of revenue (12,670 ) Foreign exchange rate changes (135 ) Balance as of March 29, 2020 $ 26,252

Stock-Based Compensation Expe_2

Stock-Based Compensation Expense (Tables)	3 Months Ended
	Mar. 29, 2020
Share-based Payment Arrangement [Abstract]
Summary of Stock Option Activity	The following table summarizes the Company’s stock option activity for the three -month period ended March 29, 2020 : Shares (in thousands) Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (in thousands) Outstanding as of December 31, 2019 12,899 $ 37.95 Granted 883 50.94 Exercised (463 ) 21.52 Forfeited or expired (83 ) 50.10 Outstanding as of March 29, 2020 13,236 $ 39.32 7.12 $ 113,087 Exercisable as of March 29. 2020 6,652 $ 30.93 6.01 $ 98,637 Options vested or expected to vest as of March 29, 2020 (1) 12,139 $ 38.37 6.98 $ 112,251 (1) In addition to the vested options, the Company expects a portion of the unvested options to vest at some point in the future. Options expected to vest are calculated by applying an estimated forfeiture rate to the unvested options.
Weighted-Average Assumptions Used in Estimating Fair Values of Stock Options Granted	The fair values of stock options granted in each period presented were estimated using the following weighted-average assumptions: Three-months Ended March 29, 2020 March 31, 2019 Risk-free rate 1.6 % 2.7 % Expected dividend yield 0.43 % 0.39 % Expected volatility 37 % 37 % Expected term (in years) 6.0 5.3
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs	The following table presents the stock-based compensation expense by caption for each period presented on the Consolidated Statements of Operations (in thousands): Three-months Ended March 29, 2020 March 31, 2019 Cost of revenue $ 354 $ 451 Research, development, and engineering 5,366 4,467 Selling, general, and administrative 9,070 7,363 $ 14,790 $ 12,281
Schedule of Nonvested Restricted Stock Units Activity	The following table summarizes the Company's RSUs activity for the three-month period ended March 29, 2020: Shares (in thousands) Weighted-Average Grant Date Fair Value Nonvested as of December 31, 2019 150 $ 48.63 Granted 390 50.94 Vested — — Forfeited or expired (4 ) 50.28 Nonvested as of March 29, 2020 536 $ 50.30

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 29, 2020
Income Tax Disclosure [Abstract]
Reconciliation of United States Federal Statutory Corporate Tax Rate to Company's Effective Tax Rate, or Income Tax Provision	A reconciliation of the United States federal statutory corporate tax rate to the Company’s income tax expense, or effective tax rate, was as follows: Three-months Ended March 29, 2020 March 31, 2019 Income tax expense at U.S. federal statutory corporate tax rate 21 % 21 % State income taxes, net of federal benefit 1 % 1 % Foreign tax rate differential (6 )% (9 )% Tax credit (1 )% — % Discrete tax benefit related to stock options (7 )% (8 )% Other discrete tax events 1 % — % Other 2 % 2 % Income tax expense 11 % 7 %

Weighted-Average Shares (Tables

Weighted-Average Shares (Tables)	3 Months Ended
	Mar. 29, 2020
Earnings Per Share [Abstract]
Calculation of Weighted-Average Shares	Weighted-average shares were calculated as follows (in thousands): Three-months Ended March 29, 2020 March 31, 2019 Basic weighted-average common shares outstanding 172,408 171,098 Effect of dilutive equity awards 3,194 4,509 Weighted-average common and common-equivalent shares outstanding 175,602 175,607

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Thousands	Mar. 29, 2020	Dec. 31, 2019
Assets:
Money market instruments	$ 13,990	$ 15,933
Financial assets at fair value	602,078
Corporate Bonds
Assets:
Financial assets at fair value	232,806
Treasury Bills
Assets:
Financial assets at fair value	210,456
Asset-Backed Securities
Assets:
Financial assets at fair value	121,351
Sovereign Bonds
Assets:
Financial assets at fair value	24,570
Agency Bonds
Assets:
Financial assets at fair value	5,915
Municipal Bonds
Assets:
Financial assets at fair value	6,980
Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value, Measurements, Recurring
Assets:
Money market instruments	13,990
Significant Other Observable Inputs (Level 2) | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Certificate Of Deposit, Fair Value Disclosure	4,121
Assets:
Money market instruments	0
Economic hedge forward contracts	131
Liabilities:
Economic hedge forward contracts	703
Contingent consideration liabilities	0
Significant Other Observable Inputs (Level 2) | Fair Value, Measurements, Recurring | Corporate Bonds
Assets:
Financial assets at fair value	232,806
Significant Other Observable Inputs (Level 2) | Fair Value, Measurements, Recurring | Treasury Bills
Assets:
Financial assets at fair value	210,456
Significant Other Observable Inputs (Level 2) | Fair Value, Measurements, Recurring | Asset-Backed Securities
Assets:
Financial assets at fair value	121,351
Significant Other Observable Inputs (Level 2) | Fair Value, Measurements, Recurring | Sovereign Bonds
Assets:
Financial assets at fair value	24,570
Significant Other Observable Inputs (Level 2) | Fair Value, Measurements, Recurring | Agency Bonds
Assets:
Financial assets at fair value	5,915
Significant Other Observable Inputs (Level 2) | Fair Value, Measurements, Recurring | Municipal Bonds
Assets:
Financial assets at fair value	6,980
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring
Liabilities:
Contingent consideration liabilities	$ 1,153	$ 1,153

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($)	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Reclassification of credit loss on investments	$ 160,000	$ 0
Business Combination, Contingent Consideration, Liability	0		$ 0
Chiaro Technologies LLC [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Combination, Contingent Consideration, Liability	1,153,000
GVi Ventures, Inc. [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, Low	2,500,000
Minimum | Chiaro Technologies LLC [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, Low	0
Minimum | GVi Ventures, Inc. [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, Low	0
Maximum | Chiaro Technologies LLC [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, Low	$ 1,250,000

Cash, Cash Equivalents, and I_3

Cash, Cash Equivalents, and Investments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019
Cash and Cash Equivalents [Abstract]
Reclassification of credit loss on investments	$ 160	$ 0
Gross realized gains on sale of investments	1,865	64
Gross realized losses on sale of investments	$ 15	$ 24

Cash, Cash Equivalents, and I_4

Cash, Cash Equivalents, and Investments - Components of Cash, Cash Equivalents, and Investments (Detail) - USD ($) $ in Thousands	Mar. 29, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Cash	$ 225,207	$ 155,498
Money market instruments	13,990	15,933
Cash and cash equivalents	239,197	171,431
Current investments	159,244	240,470
Non-current investments	446,955	433,452
Total	845,396	845,353
Treasury Bills
Debt Securities, Available-for-sale [Line Items]
Current investments	19,763	92,914
Long-term investments	190,693	216,334
Corporate Bonds
Debt Securities, Available-for-sale [Line Items]
Current investments	54,937	65,624
Long-term investments	177,869	146,474
Asset-Backed Securities
Debt Securities, Available-for-sale [Line Items]
Current investments	69,956	66,680
Long-term investments	51,395	46,403
Certificate of deposit
Debt Securities, Available-for-sale [Line Items]
Current investments	4,121	4,328
Sovereign bonds
Debt Securities, Available-for-sale [Line Items]
Current investments	3,487	6,294
Sovereign Bonds
Debt Securities, Available-for-sale [Line Items]
Long-term investments	21,083	16,005
Agency Bonds
Debt Securities, Available-for-sale [Line Items]
Long-term investments	5,915	5,914
Municipal Bonds
Debt Securities, Available-for-sale [Line Items]
Current investments	6,980	4,630
Long-term investments	$ 0	$ 2,322

Cash, Cash Equivalents, and I_5

Cash, Cash Equivalents, and Investments - Summary of Available-for-Sale Investments (Detail) $ in Thousands	Mar. 29, 2020USD ($)
Debt Securities, Available-for-sale [Line Items]
Amortized cost	$ 606,390
Gross unrealized gains	3,736
Gross unrealized losses	(8,048)
Fair value	602,078
Agency Bonds
Debt Securities, Available-for-sale [Line Items]
Gross unrealized losses	(15)
Agency Bonds | Long-Term Investments
Debt Securities, Available-for-sale [Line Items]
Amortized cost	5,930
Gross unrealized gains	0
Gross unrealized losses	(15)
Fair value	5,915
Treasury Bills | Short-Term Investments
Debt Securities, Available-for-sale [Line Items]
Amortized cost	19,328
Gross unrealized gains	435
Gross unrealized losses	0
Fair value	19,763
Treasury Bills | Long-Term Investments
Debt Securities, Available-for-sale [Line Items]
Amortized cost	187,794
Gross unrealized gains	2,899
Gross unrealized losses	0
Fair value	190,693
Corporate Bonds
Debt Securities, Available-for-sale [Line Items]
Gross unrealized losses	(6,381)
Corporate Bonds | Short-Term Investments
Debt Securities, Available-for-sale [Line Items]
Amortized cost	55,404
Gross unrealized gains	20
Gross unrealized losses	(487)
Fair value	54,937
Corporate Bonds | Long-Term Investments
Debt Securities, Available-for-sale [Line Items]
Amortized cost	183,646
Gross unrealized gains	117
Gross unrealized losses	(5,894)
Fair value	177,869
Asset-Backed Securities
Debt Securities, Available-for-sale [Line Items]
Gross unrealized losses	(1,644)
Asset-Backed Securities | Short-Term Investments
Debt Securities, Available-for-sale [Line Items]
Amortized cost	70,510
Gross unrealized gains	25
Gross unrealized losses	(579)
Fair value	69,956
Asset-Backed Securities | Long-Term Investments
Debt Securities, Available-for-sale [Line Items]
Amortized cost	52,405
Gross unrealized gains	55
Gross unrealized losses	(1,065)
Fair value	51,395
Sovereign Bonds
Debt Securities, Available-for-sale [Line Items]
Gross unrealized losses	(8)
Sovereign Bonds | Short-Term Investments
Debt Securities, Available-for-sale [Line Items]
Amortized cost	3,485
Gross unrealized gains	2
Gross unrealized losses	0
Fair value	3,487
Sovereign Bonds | Long-Term Investments
Debt Securities, Available-for-sale [Line Items]
Amortized cost	20,944
Gross unrealized gains	147
Gross unrealized losses	(8)
Fair value	21,083
Municipal Bonds | Short-Term Investments
Debt Securities, Available-for-sale [Line Items]
Amortized cost	6,944
Gross unrealized gains	36
Gross unrealized losses	0
Fair value	$ 6,980

Cash, Cash Equivalents, and I_6

Cash, Cash Equivalents, and Investments - Gross Unrealized Losses and Fair Values for Available-for-Sale Investments (Detail) $ in Thousands	Mar. 29, 2020USD ($)
Debt Securities, Available-for-sale [Line Items]
Fair value, less than 12 months	$ 321,472
Unrealized losses, less than 12 months	(7,991)
Fair value, 12 months or greater	4,612
Unrealized losses, 12 months or greater	(57)
Total fair value	326,084
Total unrealized losses	(8,048)
Agency Bonds
Debt Securities, Available-for-sale [Line Items]
Fair value, less than 12 months	3,123
Unrealized losses, less than 12 months	(6)
Fair value, 12 months or greater	2,792
Unrealized losses, 12 months or greater	(9)
Total fair value	5,915
Total unrealized losses	(15)
Corporate Bonds
Debt Securities, Available-for-sale [Line Items]
Fair value, less than 12 months	195,755
Unrealized losses, less than 12 months	(6,337)
Fair value, 12 months or greater	1,146
Unrealized losses, 12 months or greater	(44)
Total fair value	196,901
Total unrealized losses	(6,381)
Asset-Backed Securities
Debt Securities, Available-for-sale [Line Items]
Fair value, less than 12 months	108,932
Unrealized losses, less than 12 months	(1,640)
Fair value, 12 months or greater	674
Unrealized losses, 12 months or greater	(4)
Total fair value	109,606
Total unrealized losses	(1,644)
Sovereign Bonds
Debt Securities, Available-for-sale [Line Items]
Fair value, less than 12 months	13,662
Unrealized losses, less than 12 months	(8)
Fair value, 12 months or greater	0
Unrealized losses, 12 months or greater	0
Total fair value	13,662
Total unrealized losses	$ (8)

Cash, Cash Equivalents, and I_7

Cash, Cash Equivalents, and Investments Cash, Cash Equivalents, and Investments - Schedule of Allowance for Credit Loss Activity (Details) $ in Thousands	3 Months Ended
	Mar. 29, 2020USD ($)
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Balance as of December 31, 2019	$ 0
Increases to the allowance for credit losses	160
Write-offs	0
Foreign exchange rate changes	0
Balance as of March 29, 2020	$ 160

Cash, Cash Equivalents, and I_8

Cash, Cash Equivalents, and Investments - Effective Maturity Dates of Available-for-Sale Investments (Detail) $ in Thousands	Mar. 29, 2020USD ($)
Debt Securities, Available-for-sale [Line Items]
1 year or less	$ 155,123
1-2 years	221,107
2-3 years	208,829
3-4 years	12,659
4-5 years	4,360
Fair value	602,078
Corporate Bonds
Debt Securities, Available-for-sale [Line Items]
1 year or less	54,937
1-2 years	87,940
2-3 years	80,663
3-4 years	9,266
4-5 years	0
Fair value	232,806
Treasury Bills
Debt Securities, Available-for-sale [Line Items]
1 year or less	19,763
1-2 years	101,648
2-3 years	89,045
3-4 years	0
4-5 years	0
Fair value	210,456
Asset-Backed Securities
Debt Securities, Available-for-sale [Line Items]
1 year or less	69,956
1-2 years	10,436
2-3 years	33,206
3-4 years	3,393
4-5 years	4,360
Fair value	121,351
Sovereign Bonds
Debt Securities, Available-for-sale [Line Items]
1 year or less	3,487
1-2 years	21,083
2-3 years	0
3-4 years	0
4-5 years	0
Fair value	24,570
Agency Bonds
Debt Securities, Available-for-sale [Line Items]
1 year or less	0
1-2 years	0
2-3 years	5,915
3-4 years	0
4-5 years	0
Fair value	5,915
Municipal Bonds
Debt Securities, Available-for-sale [Line Items]
1 year or less	6,980
1-2 years	0
2-3 years	0
3-4 years	0
4-5 years	0
Fair value	$ 6,980

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Detail) - USD ($) $ in Thousands	Mar. 29, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Raw materials	$ 23,246	$ 27,285
Work-in-process	6,034	5,503
Finished goods	25,705	27,473
Inventories	$ 54,985	$ 60,261

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019	Dec. 31, 2019
Leases [Abstract]
Operating Lease, Liability	$ 17,966	$ 17,973
Operating lease, right-of-use asset	17,346		$ 17,522
Operating lease, liability, current	5,550		5,647
Operating lease, liability, noncurrent	12,416		$ 12,326
Operating lease, cost	1,906	1,485
Operating lease, payments	1,863	1,401
Lease, cost	$ 39	$ 169
Weighted average discount rate	440.00%	4.80%
Weighted average remaining lease term	3 years 8 months 12 days	4 years 1 month 6 days
Rental income	$ 77

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payment Obligations Under Operating Leases (Details) $ in Thousands	Mar. 29, 2020USD ($)
Leases [Abstract]
Remainder of fiscal 2019	$ 5,001
2020	6,223
2021	4,739
2022	3,712
2023	1,490
2024	429
Thereafter	0
Total	$ 21,594

Leases - Future Minimum Rental

Leases - Future Minimum Rental Receipts Under Non-cancelable Lease Agreements (Details) $ in Thousands	Mar. 29, 2020USD ($)
Leases [Abstract]
Remainder of fiscal 2020	$ 230
2021	307
2022	307
Total	$ 844

Goodwill (Details)

Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 29, 2020USD ($)
Goodwill [Roll Forward]
Balance as of December 31, 2019	$ 243,445
Foreign exchange rate changes	(1,231)
Balance as of December 31, 2019	$ 242,214

Intangible Assets (Details)

Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 29, 2020	Dec. 31, 2019	Dec. 31, 2018
Distribution Rights, Developed Technology Rights, Customer Contracts And Relationships, Other Intangible Assets, And Trademarks
Gross Carrying Value	$ 93,474		$ 93,474
Accumulated Amortization	55,372		53,984
Net Carrying Value	38,102	$ 39,490	39,490
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Net Carrying Value	38,102	39,490	39,490
Distribution networks
Distribution Rights, Developed Technology Rights, Customer Contracts And Relationships, Other Intangible Assets, And Trademarks
Gross Carrying Value	38,060		38,060
Accumulated Amortization	38,060		38,060
Net Carrying Value	0		0
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Net Carrying Value	0		0
Completed technologies
Distribution Rights, Developed Technology Rights, Customer Contracts And Relationships, Other Intangible Assets, And Trademarks
Gross Carrying Value	31,987		31,987
Accumulated Amortization	10,154		9,160
Net Carrying Value	21,833		22,827
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Net Carrying Value	21,833		22,827
Customer relationships
Distribution Rights, Developed Technology Rights, Customer Contracts And Relationships, Other Intangible Assets, And Trademarks
Gross Carrying Value	14,407		14,407
Accumulated Amortization	6,738		6,402
Net Carrying Value	7,669		8,005
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Net Carrying Value	7,669		8,005
In-process technologies
Distribution Rights, Developed Technology Rights, Customer Contracts And Relationships, Other Intangible Assets, And Trademarks
Gross Carrying Value	8,200	8,200
Accumulated Amortization	0	0
Net Carrying Value	8,200	8,200
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Net Carrying Value	8,200	8,200
Non-compete agreements
Distribution Rights, Developed Technology Rights, Customer Contracts And Relationships, Other Intangible Assets, And Trademarks
Gross Carrying Value	710		710
Accumulated Amortization	395		350
Net Carrying Value	315		360
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Net Carrying Value	315		$ 360
Trademarks
Distribution Rights, Developed Technology Rights, Customer Contracts And Relationships, Other Intangible Assets, And Trademarks
Gross Carrying Value	110	110
Accumulated Amortization	25	12
Net Carrying Value	85	98
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Net Carrying Value	85	$ 98
Indefinite-lived intangible asset excluding in-process technologies
Distribution Rights, Developed Technology Rights, Customer Contracts And Relationships, Other Intangible Assets, And Trademarks
Net Carrying Value	29,902
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Remainder of fiscal 2020	4,023
2019	5,232
2020	4,862
2021	4,160
2022	3,593
2023	3,270
Thereafter	4,762
Net Carrying Value	$ 29,902

Warranty Obligations - Changes

Warranty Obligations - Changes in Warranty Obligations (Detail) $ in Thousands	3 Months Ended
	Mar. 29, 2020USD ($)
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning balance	$ 4,713
Provisions for warranties issued during the period	725
Fulfillment of warranty obligations	(419)
Ending balance	$ 5,019

Derivative Instruments (Detail)

Derivative Instruments (Detail)	3 Months Ended
	Mar. 29, 2020
Not Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Remaining maturity of foreign currency derivatives (up to)	45 days

Derivative Instruments - Outsta

Derivative Instruments - Outstanding Forward Contracts Table (Detail) - Not Designated as Hedging Instrument € in Thousands, ₩ in Thousands, ¥ in Thousands, $ in Thousands, $ in Thousands, $ in Thousands, $ in Thousands	Mar. 29, 2020EUR (€)	Mar. 29, 2020CAD ($)	Mar. 29, 2020SGD ($)	Mar. 29, 2020JPY (¥)	Mar. 29, 2020KRW (₩)	Mar. 29, 2020TWD ($)	Mar. 29, 2020USD ($)	Dec. 31, 2019EUR (€)	Dec. 31, 2019CAD ($)	Dec. 31, 2019SGD ($)	Dec. 31, 2019JPY (¥)	Dec. 31, 2019KRW (₩)	Dec. 31, 2019TWD ($)	Dec. 31, 2019USD ($)
Euro Member Countries, Euro
Derivative [Line Items]
Outstanding forward contracts	€ 37,500						$ 41,275	€ 18,000						$ 20,249
Japanese Yen
Derivative [Line Items]
Outstanding forward contracts				¥ 600,000			5,540				¥ 575,000			5,291
Mexico, Pesos
Derivative [Line Items]
Outstanding forward contracts				180,000			7,647				80,000			4,223
United Kingdom, Pounds
Derivative [Line Items]
Outstanding forward contracts				2,750			3,364				2,700			3,569
Hungary, Forint
Derivative [Line Items]
Outstanding forward contracts				¥ 980,000			3,026				¥ 870,000			2,962
Korean Won
Derivative [Line Items]
Outstanding forward contracts					₩ 130,400,000		107,516					₩ 161,951,500		139,688
Taiwanese Dollar
Derivative [Line Items]
Outstanding forward contracts						$ 22,000	735						$ 37,450	1,256
Canada, Dollars
Derivative [Line Items]
Outstanding forward contracts		$ 1,300					922		$ 1,300					1,000
Singapore, Dollars
Derivative [Line Items]
Outstanding forward contracts			$ 0				$ 0			$ 845				$ 628

Derivative Instruments - Schedu

Derivative Instruments - Schedule of Derivative Instruments in Statement of Financial Position, Fair Value (Detail) - USD ($) $ in Thousands	Mar. 29, 2020	Dec. 31, 2019
Derivatives, Fair Value [Line Items]
Derivative asset	$ 131	$ 857
Derivative liability	703	23
Not Designated as Hedging Instrument | Prepaid Expenses and Other Current Assets
Derivatives, Fair Value [Line Items]
Derivative asset	131	857
Not Designated as Hedging Instrument | Accrued Expenses
Derivatives, Fair Value [Line Items]
Derivative liability	$ 703	$ 23

Derivative Instruments - Offset

Derivative Instruments - Offsetting Assets (Detail) - USD ($) $ in Thousands	Mar. 29, 2020	Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Gross amounts of recognized assets	$ 131	$ 857
Gross amounts offset	0	0
Net amount of assets presented	131	857
Gross amounts of recognized liabilities	703	23
Gross amounts offset	0	0
Net amount of liabilities presented	$ 703	$ 23

Derivative Instruments - Deriva

Derivative Instruments - Derivative Instruments, Gain (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019
Not Designated as Hedging Instrument | Foreign Currency Gain (Loss)
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) recognized in current operations	$ (8,240)	$ 505

Revenue Recognition - Revenue D

Revenue Recognition - Revenue Disaggregated by Geography (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019
Disaggregation of Revenue [Line Items]
Revenue	$ 167,235	$ 173,484
Americas
Disaggregation of Revenue [Line Items]
Revenue	60,247	64,770
Europe
Disaggregation of Revenue [Line Items]
Revenue	48,582	59,539
Greater China
Disaggregation of Revenue [Line Items]
Revenue	26,403	22,816
Other Asia
Disaggregation of Revenue [Line Items]
Revenue	$ 32,003	$ 26,359

Revenue Recognition - Revenue_2

Revenue Recognition - Revenue Disaggregated by Products and Services (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019
Revenue from External Customer [Line Items]
Revenue	$ 167,235	$ 173,484
Standard Products and Services
Revenue from External Customer [Line Items]
Revenue	152,854	161,052
Application-Specific Customer Solutions
Revenue from External Customer [Line Items]
Revenue	$ 14,381	$ 12,432

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2020	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Costs to fulfill contract	$ 5,835	$ 3,963
Credit losses on accounts receivable	$ 300

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Allowance for Credit Loss (Details) $ in Thousands	3 Months Ended
	Mar. 29, 2020USD ($)
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance as of December 31, 2019	$ 530
Increases to the allowance for credit losses	300
Write-offs	(64)
Foreign exchange rate changes	5
Balance as of March 29, 2020	$ 771

Revenue Recognition - Deferred

Revenue Recognition - Deferred Revenue Activity (Details) $ in Thousands	3 Months Ended
	Mar. 29, 2020USD ($)
Movement in Deferred Revenue [Roll Forward]
Balance as of December 31, 2019	$ 14,432
Increases to deferred revenue and customer deposits	24,625
Recognition of revenue	(12,670)
Foreign exchange rate changes	(135)
Balance as of March 29, 2020	$ 26,252

Stock-Based Compensation Expe_3

Stock-Based Compensation Expense (Detail)	3 Months Ended
	Mar. 29, 2020USD ($)group$ / sharesshares	Mar. 31, 2019USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant-date fair values, in dollars per share | $ / shares	$ 18.46	$ 18.59
Total intrinsic value	$ 14,454,000	$ 22,579,000
Total fair values of stock options vest	$ 36,664,000	$ 29,972,000
Vested (in shares) | shares		0
Groups within the employee population | group	2
Estimated annual forfeiture rate for unvested options for senior management	7.00%
Estimated annual forfeiture rate for unvested options for all other employees	12.00%
Increase (decrease) to compensation expense	$ 1,787,000	$ 499,000
Unrecognized compensation expense	$ 72,823,000
Weighted average period to be recognized	2 years 2 months 15 days
Stock-based compensation expense	$ 14,790,000	12,281,000
Tax benefit from compensation expense	2,564,000	$ 2,222,000
Recognized period costs capitalized	$ 0
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant under stock option plans | shares	16,115,000
Expiration period from grant day	10 years
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period for stock option plans	3 years
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in dollars per share) | $ / shares	$ 50.94
Vested (in shares) | shares	0
Granted (in shares) | shares	390,000	0
Minimum | General Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period for stock option plans	4 years
Maximum | General Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period for stock option plans	5 years

Stock-Based Compensation Expe_4

Stock-Based Compensation Expense - Summary of Stock Option Activity (Detail) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 29, 2020USD ($)$ / sharesshares
Shares (in thousands)
Outstanding, shares | shares	12,899
Granted, shares | shares	883
Exercised, shares | shares	(463)
Forfeited or expired, shares | shares	(83)
Outstanding, shares | shares	13,236
Exercisable as of reporting date, shares | shares	6,652
Options vested or expected to vest as of reporting date, shares | shares	12,139
Weighted- Average Exercise Price
Outstanding, shares | $ / shares	$ 37.95
Granted, in dollars per share | $ / shares	50.94
Exercised, in dollars per share | $ / shares	21.52
Forfeited or expired, in dollars per share | $ / shares	50.10
Outstanding, shares | $ / shares	39.32
Exercisable as of reporting date, Weighted-Average Exercise Price, in dollars per share | $ / shares	30.93
Weighted- Average Remaining Contractual Term (in years) | $ / shares	$ 38.37
Weighted- Average Remaining Contractual Term (in years)
Outstanding, in years	7 years 1 month 13 days
Exercisable, in years	6 years 3 days
Options vested or expected to vest, in years	6 years 11 months 23 days
Aggregate Intrinsic Value (in thousands)
Outstanding, in dollars | $	$ 113,087
Exercisable, in dollars | $	98,637
Options vested or expected to vest, in dollars | $	$ 112,251

Stock-Based Compensation Expe_5

Stock-Based Compensation Expense - Weighted-Average Assumptions Used in Estimating Fair Values of Stock Options Granted (Detail)	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019
Share-based Payment Arrangement [Abstract]
Risk-free rate	1.60%	2.70%
Expected dividend yield	0.43%	0.39%
Expected volatility	37.00%	37.00%
Expected term (in years)	6 years	5 years 3 months 18 days

Stock-Based Compensation Expe_6

Stock-Based Compensation Expense Stock-Based Compensation Expense - Schedule of Restricted Stock Units (Details) - $ / shares	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019
Shares (in thousands)
Vested (in shares)		0
Restricted Stock Units (RSUs)
Shares (in thousands)
Nonvested as of December 31, 2019 (in shares)	150,000
Granted (in shares)	390,000	0
Vested (in shares)	0
Forfeited or expired (in shares)	(4,000)
Nonvested as of March 29, 2020 (in shares)	536,000
Weighted-Average Grant Date Fair Value
Nonvested as of December 31, 2019 (in dollars per share)	$ 48.63
Granted (in dollars per share)	50.94
Vested (in dollars per share)	0
Forfeited or expired (in dollars per share)	50.28
Nonvested as of March 29, 2020 (in dollars per share)	$ 50.30

Stock-Based Compensation Expe_7

Stock-Based Compensation Expense - Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 14,790	$ 12,281
Cost of Revenue
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	354	451
Research, Development, and Engineering Expenses
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	5,366	4,467
Selling, General, and Administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 9,070	$ 7,363

Stock Repurchase Program (Detai

Stock Repurchase Program (Detail) - USD ($) shares in Thousands	3 Months Ended
	Mar. 29, 2020	Mar. 12, 2020	Oct. 29, 2018
Equity, Class of Treasury Stock [Line Items]
Remaining authorized repurchase amount	$ 78,652,000
Stock repurchased during period, value	$ 51,036,000
Repurchase Program October 2018
Equity, Class of Treasury Stock [Line Items]
Authorized common stock to be repurchased			$ 200,000,000
Share repurchased (in shares)	2,816
Shares repurchased, value	$ 121,348,000
Repurchase of common stock (in shares)	1,215
Stock repurchased during period, value	$ 51,036,000
Repurchase Program March 2020
Equity, Class of Treasury Stock [Line Items]
Authorized common stock to be repurchased		$ 200,000,000

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of United States Federal Statutory Corporate Tax Rate to Company's Effective Tax Rate, or Income Tax Provision (Detail)	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Income tax expense at U.S. federal statutory corporate tax rate	21.00%	21.00%
State income taxes, net of federal benefit	1.00%	1.00%
Foreign tax rate differential	(6.00%)	(9.00%)
Tax credit	(1.00%)	0.00%
Discrete tax benefit related to stock options	(7.00%)	(8.00%)
Other discrete tax events	1.00%	0.00%
Other	2.00%	2.00%
Income tax expense	11.00%	7.00%

Income Taxes (Detail)

Income Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019	Dec. 31, 2019
Income Tax Contingency [Line Items]
Income tax expense at U.S. federal statutory corporate tax rate	21.00%	21.00%
Decrease in effective tax rate	6.00%	9.00%
Decrease in effective tax rate for difference between deduction for tax purposes and compensation cost recognized from stock option exercises	7.00%	8.00%
Increase in reserves for income taxes, net of deferred tax benefit	$ 306
Interest and penalties included in reserve	155
Liability for uncertain tax positions	12,919
Reserve for income taxes classified as a noncurrent iability	11,891		$ 11,563
Reserve for income taxes classified an noncurrent deferred tax assets	1,028
Interest and penalties, gross	1,109
Minimum decrease in income tax expense due to release in reserves	1,300
Maximum decrease in income tax expense due to release in reserves	$ 1,400
Tax years open to examination by Internal Revenue Service	2016 through 2019
Tax years open to examination by various taxing authorities for other entities	2015 through 2019
Foreign Tax Authority | Revenue Commissioners, Ireland
Income Tax Contingency [Line Items]
Income tax expense at U.S. federal statutory corporate tax rate	12.50%
Foreign Tax Authority | State Administration of Taxation, China
Income Tax Contingency [Line Items]
Income tax expense at U.S. federal statutory corporate tax rate	25.00%
Domestic Tax Authority
Income Tax Contingency [Line Items]
Income tax expense at U.S. federal statutory corporate tax rate	21.00%

Weighted-Average Shares (Detail

Weighted-Average Shares (Detail) - shares	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019
Earnings Per Share [Abstract]
Stock options to purchase anti-dilutive common stock	6,273,000	4,832,000

Weighted-Average Shares - Calcu

Weighted-Average Shares - Calculation of Weighted-Average Shares (Detail) - shares shares in Thousands	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019
Earnings Per Share [Abstract]
Basic weighted-average common shares outstanding	172,408	171,098
Effect of dilutive equity awards	3,194	4,509
Weighted-average common and common-equivalent shares outstanding	175,602	175,607

Subsequent Events (Details)

Subsequent Events (Details)	Apr. 27, 2020USD ($)
Subsequent Event
Subsequent Event [Line Items]
Dividends (in dollars per share)	$ 0.055