Wolfspeed (WOLF) 10-Q 21 Oct 15 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Sep. 27, 2015	Oct. 14, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	CREE INC
Entity Central Index Key	895,419
Current Fiscal Year End Date	--06-26
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 27, 2015
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		103,045,259
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 27, 2015	Jun. 28, 2015
Current assets:
Cash and cash equivalents	$ 83,369	$ 139,710
Short-term investments	548,713	573,481
Total cash, cash equivalents and short-term investments	632,082	713,191
Accounts receivable, net	193,781	186,157
Income tax receivable	9,481	0
Inventories	289,089	280,576
Deferred income taxes	38,572	39,190
Prepaid expenses	26,284	29,932
Other current assets	55,383	54,851
Assets held for sale	6,871	4,353
Total current assets	1,251,543	1,308,250
Property and equipment, net	635,763	635,072
Goodwill	618,842	616,345
Intangible assets, net	330,777	317,154
Other long-term investments	34,611	57,595
Other assets	19,596	19,984
Total assets	2,891,132	2,954,400
Current liabilities:
Accounts payable, trade	158,140	163,128
Accrued salaries and wages	48,014	45,415
Income taxes payable	0	2,035
Other current liabilities	45,664	44,208
Total current liabilities	251,818	254,786
Long-term liabilities:
Long-term debt	207,000	200,000
Deferred income taxes	21,975	12,174
Other long-term liabilities	21,455	21,084
Total long-term liabilities	$ 250,430	$ 233,258
Commitments and contingencies (Note 12)
Shareholders' equity:
Preferred stock, par value $0.01; 3,000 shares authorized at September 27, 2015 and June 28, 2015; none issued and outstanding	$ 0	$ 0
Common stock, par value $0.00125; 200,000 shares authorized at September 27, 2015 and June 28, 2015; 103,044 and 105,507 shares issued and outstanding at September 27, 2015 and June 28, 2015, respectively	128	131
Additional paid-in-capital	2,300,875	2,285,554
Accumulated other comprehensive income, net of taxes	6,231	5,798
Retained earnings	81,650	174,873
Total shareholders’ equity	2,388,884	2,466,356
Total liabilities and shareholders’ equity	$ 2,891,132	$ 2,954,400

Consolidated Balance Sheets Con

Consolidated Balance Sheets Consolidation Balance Sheets (Parenthetical) - $ / shares shares in Thousands	Sep. 27, 2015	Jun. 28, 2015
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	3,000	3,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.00125	$ 0.00125
Common stock, shares authorized	200,000	200,000
Common stock, shares issued	103,044	105,507
Common stock, shares outstanding	103,044	105,507

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 27, 2015	Sep. 28, 2014
Income Statement [Abstract]
Revenue, net	$ 425,489	$ 427,672
Cost of revenue, net	293,741	291,852
Gross profit	131,748	135,820
Operating expenses:
Research and development	43,540	46,725
Sales, general and administrative	75,263	69,692
Amortization or impairment of acquisition-related intangibles	7,062	6,499
Loss on disposal or impairment of long-lived assets	14,573	1,447
Total operating expenses	140,438	124,363
Operating (loss) income	(8,690)	11,457
Non-operating (loss) income, net	(22,806)	2,904
(Loss) income before income taxes	(31,496)	14,361
Income tax (benefit) expense	(7,873)	3,231
Net (loss) income	$ (23,623)	$ 11,130
(Loss) earnings per share:
Basic	$ (0.23)	$ 0.09
Diluted	$ (0.23)	$ 0.09
Weighted average shares used in per share calculation:
Basic	103,473	119,605
Diluted	103,473	121,143

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Sep. 27, 2015	Sep. 28, 2014
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (23,623)	$ 11,130
Currency translation loss	(359)	(1,167)
Net unrealized gain (loss) on available-for-sale securities, net of tax (expense) benefit of ($490) and $339, respectively	792	(511)
Other comprehensive income (loss)	433	(1,678)
Comprehensive (loss) income	$ (23,190)	$ 9,452

Consolidated Statements of Com6

Consolidated Statements of Comprehensive Income Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Sep. 27, 2015	Sep. 28, 2014
Statement of Comprehensive Income [Abstract]
Tax (expense) benefit on net unrealized gain (loss) on available-for-sale securities	$ (490)	$ 339

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Sep. 27, 2015	Sep. 28, 2014
Cash flows from operating activities:
Net (loss) income	$ (23,623)	$ 11,130
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	41,176	43,335
Stock-based compensation	15,074	16,759
Excess tax benefit from stock-based payment arrangements	(3)	(1,448)
Loss on disposal or impairment of long-lived assets	14,573	1,447
Amortization of premium/discount on investments	1,361	2,412
Loss on equity method investment	19,948	0
Foreign exchange loss on equity method investment	3,036	0
Deferred income taxes	1,040	0
Changes in operating assets and liabilities:
Accounts receivable, net	(6,406)	(12,018)
Inventories	(8,428)	(25,674)
Prepaid expenses and other assets	(1,502)	(3,176)
Accounts payable, trade	(472)	(2,164)
Accrued salaries and wages and other liabilities	(8,940)	(17,319)
Net cash provided by operating activities	46,834	13,284
Cash flows from investing activities:
Purchases of property and equipment	(49,883)	(63,446)
Purchases of patent and licensing rights	(4,314)	(4,806)
Proceeds from sale of property and equipment	3	43
Purchases of short-term investments	(121,628)	(171,067)
Proceeds from maturities of short-term investments	137,121	126,958
Proceeds from sale of short-term investments	8,643	4,667
Purchase of acquired business, net of cash acquired	(12,513)	0
Net cash used in investing activities	(42,571)	(107,651)
Cash flows from financing activities:
Proceeds from long-term debt borrowings	195,000	60,000
Payments on long-term debt borrowings	(188,000)	(15,000)
Net proceeds from issuance of common stock	2,801	12,109
Excess tax benefit from stock-based payment arrangements	3	1,448
Repurchases of common stock	(69,604)	(54,325)
Net cash (used in) provided by financing activities	(59,800)	4,232
Effects of foreign exchange changes on cash and cash equivalents	(804)	(389)
Net decrease in cash and cash equivalents	(56,341)	(90,524)
Cash and cash equivalents:
Beginning of period	139,710	286,824
End of period	83,369	196,300
Construction in Progress Expenditures Incurred but Not yet Paid	$ 17,672	$ 17,400

Basis of Presentation and New A

Basis of Presentation and New Accounting Standards	3 Months Ended
	Sep. 27, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and New Accounting Standards	Basis of Presentation and New Accounting Standards Overview Cree, Inc. (the Company) is a leading innovator of lighting-class light emitting diode (LED) products, lighting products and wide bandgap semiconductor products for power and radio-frequency (RF) applications. The Company's products are targeted for applications such as indoor and outdoor lighting, video displays, transportation, electronic signs and signals, power supplies, inverters and wireless systems. The Company's lighting products primarily consist of LED lighting systems and bulbs. The Company designs, manufactures and sells lighting fixtures and lamps for the commercial, industrial and consumer markets. The Company's LED products consist of LED components, LED chips and silicon carbide (SiC) materials. The Company's success in selling LED products depends upon its ability to offer innovative products and to enable its customers to develop and market LED-based products that successfully compete against other LED-based products and drive LED adoption against traditional lighting products. In addition, the Company develops, manufactures and sells power and RF devices based on wide bandgap semiconductor materials such as SiC and gallium nitride (GaN). As previously announced, the Company has filed a confidential registration statement for an initial public offering to take this business public under the name Wolfspeed, Inc. The Company's power products are made from SiC and provide increased efficiency, faster switching speeds and reduced system size and weight over comparable silicon-based power devices. The Company's RF devices are made from GaN and provide improved efficiency, bandwidth and frequency of operation as compared to silicon or gallium arsenide (GaAs). The majority of the Company's products are manufactured at its production facilities located in North Carolina, Wisconsin and China. The Company also uses contract manufacturers for certain products and aspects of product fabrication, assembly and packaging. The Company operates research and development facilities in North Carolina, California, Wisconsin, India and China (including Hong Kong). Cree, Inc. is a North Carolina corporation established in 1987 and is headquartered in Durham, North Carolina. The Company's three reportable segments are: • Lighting Products • LED Products • Power and RF Products For financial results by reportable segment, please refer to Note 13, "Reportable Segments." Basis of Presentation The consolidated balance sheet at September 27, 2015 , the consolidated statements of (loss) income for the three months ended September 27, 2015 and September 28, 2014 , the consolidated statements of comprehensive (loss) income for the three months ended September 27, 2015 and September 28, 2014 , and the consolidated statements of cash flows for the three months ended September 27, 2015 and September 28, 2014 (collectively, the consolidated financial statements) have been prepared by the Company and have not been audited. In the opinion of management, all normal and recurring adjustments necessary to fairly present the consolidated financial position, results of operations and cash flows at September 27, 2015 , and for all periods presented, have been made. All intercompany accounts and transactions have been eliminated. The consolidated balance sheet at June 28, 2015 has been derived from the audited financial statements as of that date. These financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) for interim information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for annual financial statements. These financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 28, 2015 (fiscal 2015 ). The results of operations for the three months ended September 27, 2015 are not necessarily indicative of the operating results that may be attained for the entire fiscal year ending June 26, 2016 (fiscal 2016 ). The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses, and the disclosure of contingent assets and liabilities. Actual amounts could differ materially from those estimates. Certain fiscal 2015 amounts in the accompanying consolidated financial statements have been reclassified to conform to the fiscal 2016 presentation. These reclassifications had no effect on previously reported consolidated net income or shareholders’ equity. Recently Issued Accounting Pronouncements Revenue from Contracts with Customers In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09: Revenue from Contracts with Customers (Topic 606). The ASU establishes a principles-based approach for accounting for revenue arising from contracts with customers and supersedes existing revenue recognition guidance. The ASU provides that an entity should apply a five-step approach for recognizing revenue, including (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when, or as, the entity satisfies a performance obligation. Also, the entity must provide various disclosures concerning the nature, amount and timing of revenue and cash flows arising from contracts with customers. The effective date will be the first quarter of the Company's fiscal year ending June 30, 2019, using one of two retrospective application methods. The Company is currently analyzing the impact of this new accounting guidance.

Acquisition

Acquisition	3 Months Ended
	Sep. 27, 2015
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	Acquisition On July 8, 2015, the Company closed on the acquisition of Arkansas Power Electronics International, Inc. (APEI), a global leader in power modules and power electronics applications, pursuant to a merger agreement with APEI and certain shareholders of APEI, whereby the Company acquired all of the outstanding share capital of APEI in exchange for a base purchase price of $13.8 million , subject to certain adjustments. In addition, if certain goals are achieved over the next two years, additional cash payments totaling up to $4.6 million may be made to the former APEI shareholders. In connection with this acquisition, APEI became a wholly owned subsidiary of the Company, renamed Cree Fayetteville, Inc. (Cree Fayetteville). Cree Fayetteville will not be considered a significant subsidiary of the Company and its results from operations will be reported as part of the Company's Power and RF Products segment. The total estimated purchase price for this acquisition is as follows (in thousands): Cash consideration paid to shareholders $13,797 Post-closing adjustments 181 Contingent consideration 4,625 Total purchase price $18,603 The purchase price for this acquisition has been preliminarily allocated to the assets acquired and liabilities assumed based on their estimated fair values as follows (in thousands): Tangible assets: Cash and cash equivalents $1,284 Accounts receivable 1,006 Inventories 143 Property and equipment 1,023 Other assets 427 Total tangible assets 3,883 Intangible assets: Patents 40 Customer relationships 4,500 Developed technology 11,403 In-process research and development 7,565 Non-compete agreements 231 Goodwill 2,497 Total intangible assets 26,236 Liabilities assumed: Accounts payable 55 Accrued expenses and liabilities 2,056 Other long-term liabilities 9,405 Total liabilities assumed 11,516 Net assets acquired $18,603 The identifiable intangible assets acquired as a result of the acquisition will be amortized over their respective estimated useful lives as follows (in thousands, except for years): Asset Amount Estimated Life in Years Patents $40 20 Customer relationships 4,500 4 Developed technology 11,403 10 In-process research and development 1 7,565 - Non-compete agreements 231 3 Total identifiable intangible assets $23,739 (1) In-process research and development (IPR&D) is initially classified as indefinite-lived assets and tested for impairment at least annually or when indications of potential impairment exist. When an IPR&D project is complete, it is reclassified as an amortizable intangible asset and amortized over its estimated useful life. Goodwill largely consists of expansion of product offerings of power modules and power electronics applications, manufacturing and other synergies of the combined companies, and the value of the assembled workforce. The assets, liabilities, and operating results of APEI have been included in the Company's consolidated financial statements from the date of acquisition and are not significant to the Company as a whole.

Financial Statement Details

Financial Statement Details	3 Months Ended
	Sep. 27, 2015
Financial Statement Details [Abstract]
Financial Statement Details	Financial Statement Details Accounts Receivable, net The following table summarizes the components of accounts receivable, net (in thousands): September 27, 2015 June 28, 2015 Billed trade receivables $252,191 $246,969 Unbilled contract receivables 1,662 2,223 253,853 249,192 Allowance for sales returns, discounts and other incentives (54,430 ) (58,094 ) Allowance for bad debts (5,642 ) (4,941 ) Accounts receivable, net $193,781 $186,157 Inventories The following table summarizes the components of inventories (in thousands): September 27, 2015 June 28, 2015 Raw material $80,759 $86,331 Work-in-progress 98,618 93,424 Finished goods 109,712 100,821 Inventories $289,089 $280,576 Other Current Liabilities The following table summarizes the components of other current liabilities (in thousands): September 27, 2015 June 28, 2015 Accrued taxes $15,002 $13,935 Accrued professional fees 10,529 10,180 Accrued warranty 12,669 13,006 Accrued other 7,464 7,087 Other current liabilities $45,664 $44,208 Accumulated Other Comprehensive Income, net of taxes The following table summarizes the components of accumulated other comprehensive income, net of taxes (in thousands): September 27, 2015 June 28, 2015 Currency translation gain $4,627 $4,986 Net unrealized gain on available-for-sale securities 1,604 812 Accumulated other comprehensive income, net of taxes $6,231 $5,798 Non-Operating (Loss) Income, net The following table summarizes the components of non-operating (loss) income, net (in thousands): Three Months Ended September 27, 2015 September 28, 2014 Foreign currency loss, net ($4,294 ) ($231 ) Gain on sale of investments, net 2 2 Loss on equity method investment (19,948 ) — Interest income, net 1,297 3,032 Other, net 137 101 Non-operating (loss) income, net ($22,806 ) $2,904 Reclassifications Out of Accumulated Other Comprehensive Income, net of taxes The following table summarizes the amounts reclassified out of accumulated other comprehensive income, net of taxes (in thousands): Accumulated Other Comprehensive Income Component Amount Reclassified Out of Accumulated Other Comprehensive Income Affected Line Item in the Consolidated Statements of (Loss) Income Three Months Ended September 27, 2015 September 28, 2014 Net unrealized gain on available-for-sale securities, net of taxes $2 $2 Non-operating (loss) income, net 2 2 (Loss) income before income taxes 1 — Income tax (benefit) expense $1 $2 Net (loss) income

Investments

Investments	3 Months Ended
	Sep. 27, 2015
Investments, Debt and Equity Securities [Abstract]
Investments	Investments Investments consist of municipal bonds, corporate bonds and non-U.S. certificates of deposit. All short-term investments are classified as available-for-sale. Other long-term investments consist of the Company's ownership interest in Lextar Electronics Corporation. The following tables summarize short-term investments (in thousands): September 27, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Municipal bonds $192,470 $1,650 ($91 ) $194,029 Corporate bonds 158,116 1,174 (130 ) 159,160 Non-U.S. certificates of deposit 195,524 — — 195,524 Total short-term investments $546,110 $2,824 ($221 ) $548,713 June 28, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Municipal bonds $194,123 $988 ($341 ) $194,770 Corporate bonds 152,831 832 (158 ) 153,505 Non-U.S. certificates of deposit 225,206 — — 225,206 Total short-term investments $572,160 $1,820 ($499 ) $573,481 The following tables present the gross unrealized losses and estimated fair value of the Company's short-term investments, aggregated by investment type and the length of time that individual securities have been in a continuous unrealized loss position (in thousands, except numbers of securities): September 27, 2015 Less than 12 Months Greater than 12 Months Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Municipal bonds $25,072 ($91 ) $— $— $25,072 ($91 ) Corporate bonds 47,248 (117 ) 1,795 (13 ) 49,043 (130 ) Total $72,320 ($208 ) $1,795 ($13 ) $74,115 ($221 ) Number of securities with an unrealized loss 36 1 37 June 28, 2015 Less than 12 Months Greater than 12 Months Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Municipal bonds $53,204 ($341 ) $— $— $53,204 ($341 ) Corporate bonds 46,636 (143 ) 1,812 (15 ) 48,448 (158 ) Total $99,840 ($484 ) $1,812 ($15 ) $101,652 ($499 ) Number of securities with an unrealized loss 54 1 55 The Company utilizes specific identification in computing realized gains and losses on the sale of investments. Realized gains and losses from the sale of investments are included in Non-operating (loss) income, net in the Consolidated Statements of (Loss) Income and unrealized gains and losses are included as a separate component of equity, net of tax, unless the loss is determined to be other-than-temporary. The Company evaluates its investments for possible impairment or a decline in fair value below cost basis that is deemed to be other-than-temporary on a periodic basis. It considers such factors as the length of time and extent to which the fair value has been below the cost basis, the financial condition of the investee, and its ability and intent to hold the investment for a period of time that may be sufficient for an anticipated full recovery in market value. Accordingly, the Company considered declines in its investments to be temporary in nature, and did not consider its securities to be impaired as of September 27, 2015 and June 28, 2015 . The contractual maturities of short-term investments as of September 27, 2015 were as follows (in thousands): Within One Year After One, Within Five Years After Five, Within Ten Years After Ten Years Total Municipal bonds $12,772 $146,232 $35,025 $— $194,029 Corporate bonds 33,732 92,471 32,957 — 159,160 Non-U.S. certificates of deposit 195,524 — — — 195,524 Total short-term investments $242,028 $238,703 $67,982 $— $548,713

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Sep. 27, 2015
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments Under U.S. GAAP, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the exit price) in an orderly transaction between market participants at the measurement date. In determining fair value, the Company uses various valuation approaches, including quoted market prices and discounted cash flows. U.S. GAAP also establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are obtained from independent sources and can be validated by a third party, whereas unobservable inputs reflect assumptions regarding what a third party would use in pricing an asset or liability. The fair value hierarchy is categorized into three levels based on the reliability of inputs as follows: • Level 1 - Valuations based on quoted prices in active markets for identical instruments that the Company is able to access. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these products does not entail a significant degree of judgment. • Level 2 - Valuations based on quoted prices in active markets for instruments that are similar, or quoted prices in markets that are not active for identical or similar instruments, and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets. • Level 3 - Valuations based on inputs that are unobservable and significant to the overall fair value measurement. The financial assets for which the Company performs recurring fair value remeasurements are cash equivalents, short-term investments and long-term investments. As of September 27, 2015 , financial assets utilizing Level 1 inputs included money market funds, and financial assets utilizing Level 2 inputs included municipal bonds, corporate bonds, non-U.S. certificates of deposit, and common stock of non-U.S. corporations. Level 2 assets are valued based on quoted prices in active markets for instruments that are similar or using a third-party pricing service's consensus price, which is a weighted average price based on multiple sources. These sources determine prices utilizing market income models which factor in, where applicable, transactions of similar assets in active markets, transactions of identical assets in infrequent markets, interest rates, bond or credit default swap spreads and volatility. The Company did not have any financial assets requiring the use of Level 3 inputs as of September 27, 2015 . There were no transfers between Level 1 and Level 2 during the three months ended September 27, 2015 . The following table sets forth financial instruments carried at fair value within the U.S. GAAP hierarchy (in thousands): September 27, 2015 June 28, 2015 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Non-U.S. certificates of deposit $— $158 $— $158 $— $157 $— $157 Money market funds 8,416 — — 8,416 16,457 — — 16,457 Total cash equivalents 8,416 158 — 8,574 16,457 157 — 16,614 Short-term investments: Municipal bonds — 194,029 — 194,029 — 194,770 — 194,770 Corporate bonds — 159,160 — 159,160 — 153,505 — 153,505 Non-U.S. certificates of deposit — 195,524 — 195,524 — 225,206 — 225,206 Total short-term investments — 548,713 — 548,713 — 573,481 — 573,481 Other long-term investments: Common stock of non-U.S. corporations — 34,611 — 34,611 — 57,595 — 57,595 Total other long-term investments — 34,611 — 34,611 — 57,595 — 57,595 Total assets $8,416 $583,482 $— $591,898 $16,457 $631,233 $— $647,690

Intangible Assets

Intangible Assets	3 Months Ended
	Sep. 27, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets Intangible Assets, net The following table presents the components of intangible assets, net (in thousands): September 27, 2015 June 28, 2015 Gross Accumulated Amortization Net Gross Accumulated Amortization Net Intangible assets with finite lives: Customer relationships $141,420 ($73,670 ) $67,750 $136,920 ($72,063 ) $64,857 Developed technology 174,163 (96,508 ) 77,655 162,760 (91,562 ) 71,198 Non-compete agreements 10,475 (8,467 ) 2,008 10,244 (7,958 ) 2,286 Trade names, finite-lived 520 (520 ) — 520 (520 ) — Patent and licensing rights 148,217 (52,098 ) 96,119 150,038 (50,905 ) 99,133 Total intangible assets with finite lives 474,795 (231,263 ) 243,532 460,482 (223,008 ) 237,474 In-process research and development 7,565 7,565 — — Trade names, indefinite-lived 79,680 79,680 79,680 79,680 Total intangible assets $562,040 ($231,263 ) $330,777 $540,162 ($223,008 ) $317,154 For the three months ended September 27, 2015 , total amortization of finite-lived intangible assets was $9.6 million . For the three months ended September 28, 2014 , total amortization of finite-lived intangible assets was $8.9 million . Total future amortization expense of finite-lived intangible assets is estimated to be as follows (in thousands): Fiscal Year Ending June 26, 2016 (remainder of fiscal 2016) $28,201 June 25, 2017 35,613 June 24, 2018 34,401 June 30, 2019 21,738 June 28, 2020 16,645 Thereafter 106,934 Total future amortization expense $243,532 Goodwill Goodwill assigned to the Power and RF Products reporting unit increased by $2.5 million during the three months ended September 27, 2015 due to the acquisition of APEI, as discussed in Note 2, "Acquisition."

Long-term Debt

Long-term Debt	3 Months Ended
	Sep. 27, 2015
Long-term Debt, Unclassified [Abstract]
Long-term Debt	Long-term Debt As of September 27, 2015 , the Company had a $500 million secured revolving line of credit under which the Company can borrow, repay and reborrow loans from time to time prior to its scheduled maturity date of January 9, 2020. The Company classifies balances outstanding under its line of credit as long-term debt in the consolidated balance sheets. At September 27, 2015 , the Company had $207 million outstanding under the line of credit and $293 million available for borrowing. For the three months ended September 27, 2015 , the average interest rate was 0.99% . The average commitment fee percentage was 0.09% for the three months ended September 27, 2015 . The Company was in compliance with all covenants in the line of credit at September 27, 2015 .

Shareholders' Equity

Shareholders' Equity	3 Months Ended
	Sep. 27, 2015
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Shareholders’ Equity As of September 27, 2015 , pursuant to an approval by the Board of Directors, the Company is authorized to repurchase shares of its common stock having an aggregate purchase price not exceeding $500 million for all purchases from June 29, 2015 through the expiration of the program on June 26, 2016 . During the three months ended September 27, 2015 , the Company repurchased 2.7 million shares of common stock for $69.6 million under the stock repurchase program.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Sep. 27, 2015
Earnings Per Share [Abstract]
Earnings Per Share	(Loss) Earnings Per Share The following table presents the computation of basic (loss) earnings per share (in thousands, except per share amounts): Three Months Ended September 27, September 28, Net (loss) income ($23,623 ) $11,130 Weighted average common shares 103,473 119,605 Basic (loss) earnings per share ($0.23 ) $0.09 The following computation reconciles the differences between the basic and diluted (loss) earnings per share presentations (in thousands, except per share amounts): Three Months Ended September 27, September 28, Net (loss) income ($23,623 ) $11,130 Weighted average common shares - basic 103,473 119,605 Dilutive effect of stock options, nonvested shares and Employee Stock Purchase Plan purchase rights — 1,538 Weighted average common shares - diluted 103,473 121,143 Diluted (loss) earnings per share ($0.23 ) $0.09 Potential common shares that would have the effect of increasing diluted earnings per share or decreasing diluted loss per share are considered to be anti-dilutive and as such, these shares are not included in calculating diluted earnings per share. For the three months ended September 27, 2015 , there were 11.6 million of potential common shares not included in the calculation of diluted (loss) earnings per share because their effect was anti-dilutive. For the three months ended September 28, 2014 , there were 5.2 million of potential common shares not included in the calculation of diluted (loss) earnings per share because their effect was anti-dilutive.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Sep. 27, 2015
Share-based Compensation [Abstract]
Stock-Based Compensation	Stock-Based Compensation Overview of Employee Stock-Based Compensation Plans The Company currently has one equity-based compensation plan, the 2013 Long-Term Incentive Compensation Plan (2013 LTIP), from which stock-based compensation awards can be granted to employees and directors. The 2013 LTIP provides for awards in the form of incentive stock options, non-qualified stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares, performance units and other awards. The Company has other equity-based compensation plans that have been terminated so that no future grants can be made under those plans, but under which stock options, restricted stock and restricted stock units are currently outstanding. The Company’s stock-based awards can be either service-based or performance-based. Performance-based conditions are generally tied to future financial and/or operating performance of the Company. The compensation expense with respect to performance-based grants is recognized if the Company believes it is probable that the performance condition will be achieved. The Company reassesses the probability of the achievement of the performance condition at each reporting period, and adjusts the compensation expense for subsequent changes in the estimate or actual outcome. As with non-performance based awards, compensation expense is recognized over the vesting period. The vesting period runs from the date of grant to the expected date that the performance objective is likely to be achieved. The Company also has an Employee Stock Purchase Plan (ESPP) that provides employees with the opportunity to purchase common stock at a discount. The ESPP limits employee contributions to 15% of each employee’s compensation (as defined in the plan) and allows employees to purchase shares at a 15% discount to the fair market value of common stock on the purchase date two times per year. The ESPP provides for a twelve-month participation period, divided into two equal six-month purchase periods, and also provides for a look-back feature. At the end of each six-month period in April and October, participants purchase the Company’s common stock through the ESPP at a 15% discount to the fair market value of the common stock on the first day of the twelve-month participation period or the purchase date, whichever is lower. The plan also provides for an automatic reset feature to start participants on a new twelve-month participation period if the fair market value of common stock declines during the first six-month purchase period. Stock Option Awards The following table summarizes stock option awards outstanding as of September 27, 2015 and changes during the three months then ended (numbers of shares in thousands): Number of Shares Weighted Average Exercise Price Outstanding at June 28, 2015 10,714 $43.10 Granted 1,778 $26.01 Exercised (120 ) $22.86 Forfeited or expired (347 ) $45.95 Outstanding at September 27, 2015 12,025 $40.70 Restricted Stock Awards and Units A summary of nonvested restricted stock awards (RSAs) and restricted stock unit awards (RSUs) outstanding as of September 27, 2015 , and changes during the three months then ended is as follows (numbers of awards and units in thousands): Number of RSAs/RSUs Weighted Average Grant-Date Fair Value Nonvested at June 28, 2015 926 $45.47 Granted 1,119 $26.06 Vested (334 ) $45.03 Forfeited (100 ) $44.99 Nonvested at September 27, 2015 1,611 $32.11 Stock-Based Compensation Valuation and Expense The Company accounts for its employee stock-based compensation plans using the fair value method. The fair value method requires the Company to estimate the grant-date fair value of its stock-based awards and amortize this fair value to compensation expense over the requisite service period or vesting term. The Company uses the Black-Scholes option-pricing model to estimate the fair value of the Company’s stock option and ESPP awards. The determination of the fair value of stock-based payment awards on the date of grant using an option-pricing model is affected by the Company’s stock price as well as assumptions regarding a number of complex and subjective variables. These variables include the expected stock price volatility over the term of the awards, actual and projected employee stock option exercise behaviors, the risk-free interest rate and expected dividends. Due to the inherent limitations of option-valuation models, future events that are unpredictable and the estimation process utilized in determining the valuation of the stock-based awards, the ultimate value realized by award holders may vary significantly from the amounts expensed in the Company’s financial statements. For RSAs and RSUs, the grant-date fair value is based upon the market price of the Company’s common stock on the date of the grant. This fair value is then amortized to compensation expense over the requisite service period or vesting term. Stock-based compensation expense is recognized net of estimated forfeitures such that expense is recognized only for those stock-based awards that are expected to vest. A forfeiture rate is estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from initial estimates. Total stock-based compensation expense was as follows (in thousands): Three Months Ended September 27, September 28, Income Statement Classification: Cost of revenue, net $3,029 $2,905 Research and development 3,532 4,471 Sales, general and administrative 8,513 9,383 Total stock-based compensation expense $15,074 $16,759

Income Taxes

Income Taxes	3 Months Ended
	Sep. 27, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The variation between the Company's effective income tax rate and the U.S. statutory rate of 35% is due to a percentage of the Company's projected income for the full year being derived from international locations with lower tax rates than the U.S. and the impact of tax credits available in the current year. A change in the mix of pretax income of the Company's various tax jurisdictions can have a material impact on the Company's periodic effective tax rate. U.S. GAAP requires a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is cumulatively more than 50% likely to be realized upon ultimate settlement. As of June 28, 2015 , the Company's liability for unrecognized tax benefits was $17.8 million . During the three months ended September 27, 2015 , the Company recognized a $0.6 million increase to the liability for unrecognized tax benefits due to uncertainty regarding intercompany transactions recently challenged by the Italian tax authority. As a result, the total liability for unrecognized tax benefits as of September 27, 2015 was $18.4 million . If any portion of this $18.4 million is recognized, the Company will then include that portion in the computation of its effective tax rate. Although the ultimate timing of the resolution and/or closure of audits is highly uncertain, the Company believes it is reasonably possible that $0.2 million of gross unrecognized tax benefits will change in the next 12 months as a result of statute requirements. The Company files U.S. federal, U.S. state and foreign tax returns. For U.S. federal purposes, the Company is generally no longer subject to tax examinations for fiscal years prior to 2012. For U.S. state tax returns, the Company is generally no longer subject to tax examinations for fiscal years prior to 2011. For foreign purposes, the Company is generally no longer subject to tax examinations for tax periods 2005 and prior. Certain carryforward tax attributes generated in prior years remain subject to examination and adjustment. The Company is currently under audit by the Italian Revenue Agency for the fiscal year ended June 30, 2013. On September 18, 2015, North Carolina enacted a single sales apportionment factor that will be phased in over three years starting in fiscal 2017. The use of a single sales apportionment factor is expected to reduce the Company’s future taxable income in North Carolina. As a result, the Company concluded that it is likely that $2.3 million of its total $3.9 million of North Carolina income tax credits will expire unused. The Company recorded a $1.5 million valuation allowance against the related deferred tax asset, representing the $2.3 million expiring tax credits net of federal benefit, resulting in an additional $1.5 million of income tax expense during the three months ended September 27, 2015.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Sep. 27, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Warranties The following table summarizes the changes in the Company's product warranty liabilities (in thousands): Balance at June 28, 2015 $13,968 Warranties accrued in current period 2,672 Recall costs accrued in current period 583 Expenditures (3,604 ) Balance at September 27, 2015 $13,619 Product warranties are estimated and recognized at the time the Company recognizes revenue. The warranty periods range from 90 days to 10 years . The Company accrues warranty liabilities at the time of sale, based on historical and projected incident rates and expected future warranty costs. The Company accrues estimated costs related to product recalls based on a formal campaign soliciting repair or return of that product when they are deemed probable and reasonably estimable. The warranty reserves, which are primarily related to Lighting Products, are evaluated quarterly based on various factors including historical warranty claims, assumptions about the frequency of warranty claims, and assumptions about the frequency of product failures derived from quality testing, field monitoring and the Company's reliability estimates. As of September 27, 2015 , $0.9 million of the Company's product warranty liabilities were classified as long-term. In June 2015, the Company issued a voluntary recall of its linear LED T8 replacement lamps due to the hazard of overheating and melting. The Company expects the majority of the costs of the recall to be recoverable from insurance proceeds resulting in an immaterial impact to the Company’s financial results. Litigation The Company is currently a party to various legal proceedings. While management presently believes that the ultimate outcome of such proceedings, individually and in the aggregate, will not materially harm the Company’s financial position, cash flows, or overall trends in results of operations, legal proceedings are subject to inherent uncertainties, and unfavorable rulings could occur. An unfavorable ruling could include money damages or, in matters for which injunctive relief or other conduct remedies may be sought, an injunction prohibiting the Company from selling one or more products at all or in particular ways. Were unfavorable final outcomes to occur, there exists the possibility of a material adverse impact on the Company’s business, results of operation, financial position and overall trends. The outcomes in these matters are not reasonably estimable.

Reportable Segments

Reportable Segments	3 Months Ended
	Sep. 27, 2015
Segment Reporting [Abstract]
Reportable Segments	Reportable Segments The Company's operating and reportable segments are: • Lighting Products • LED Products • Power and RF Products Reportable Segments Description The Company's Lighting Products segment primarily consists of LED lighting systems and bulbs. The Company's LED Products segment includes LED chips, LED components and SiC materials. The Company's Power and RF Products segment includes power devices and RF devices. Financial Results by Reportable Segment The table below reflects the results of the Company's reportable segments as reviewed by the Chief Operating Decision Maker (CODM) for the three months ended September 27, 2015 and September 28, 2014 . The Company's CODM is the Chief Executive Officer. The Company used the same accounting policies to derive the segment results reported below as those used in the Company's consolidated financial statements. The Company's CODM does not review inter-segment transactions when evaluating segment performance and allocating resources to each segment, and inter-segment transactions are not included in the segment revenue presented in the table below. As such, total segment revenue in the table below is equal to the Company's consolidated revenue. The Company's CODM reviews gross profit as the lowest and only level of segment profit. As such, all items below gross profit in the Consolidated Statements of (Loss) Income must be included to reconcile the consolidated gross profit presented in the table below to the Company's consolidated income before income taxes. In order to determine gross profit for each reportable segment, the Company allocates direct costs and indirect costs to each segment's cost of revenue. The Company allocates indirect costs, such as employee benefits for manufacturing employees, shared facilities services, information technology, purchasing, and customer service, when the costs are identifiable and beneficial to the reportable segment. The Company allocates these indirect costs based on a reasonable measure of utilization that considers the specific facts and circumstances of the costs being allocated. Unallocated costs in the table below consisted primarily of manufacturing employees’ stock-based compensation, expenses for profit sharing and quarterly or annual incentive plans and matching contributions under the Company’s 401(k) plan. These costs were not allocated to the reportable segments’ gross profit because the Company’s CODM does not review them regularly when evaluating segment performance and allocating resources. Revenue, gross profit and gross margin for each of the Company's segments were as follows (in thousands, except percentages): Three Months Ended September 27, September 28, Revenue: Lighting Products revenue $248,031 $223,086 LED Products revenue 148,208 173,590 Power and RF Products revenue 29,250 30,996 Total revenue $425,489 $427,672 Gross Profit and Gross Margin: Lighting Products gross profit $69,081 $55,592 Lighting Products gross margin 27.9 % 24.9 % LED Products gross profit 52,659 67,624 LED Products gross margin 35.5 % 39.0 % Power and RF Products gross profit 14,323 17,857 Power and RF Products gross margin 49.0 % 57.6 % Total segment gross profit 136,063 141,073 Unallocated costs (4,315 ) (5,253 ) Consolidated gross profit $131,748 $135,820 Consolidated gross margin 31.0 % 31.8 % Assets by Reportable Segment Inventories are the only assets reviewed by the Company's CODM when evaluating segment performance and allocating resources to the segments. The CODM reviews all of the Company's assets other than inventories on a consolidated basis. Unallocated inventories in the table below were not allocated to the reportable segments because the Company’s CODM does not review them when evaluating performance and allocating resources to each segment. Unallocated inventories consisted primarily of manufacturing employees’ stock-based compensation, profit sharing and quarterly or annual incentive compensation and matching contributions under the Company’s 401(k) plan . Inventories for each of the Company's segments were as follows (in thousands): September 27, June 28, Lighting Products $157,715 $150,755 LED Products 113,537 114,203 Power and RF Products 12,693 11,536 Total segment inventories 283,945 276,494 Unallocated inventories 5,144 4,082 Consolidated inventories $289,089 $280,576

Costs Associated with LED Busin

Costs Associated with LED Business Restructuring	3 Months Ended
	Sep. 27, 2015
Restructuring and Related Activities [Abstract]
Restructuring and Related Activities Disclosure [Text Block]	Costs Associated with LED Business Restructuring In June 2015, the Company’s Board of Directors approved a plan to restructure the LED Products business. The restructuring is expected to reduce excess capacity and overhead in order to improve the cost structure moving forward. The primary components of the restructuring include the planned sale or abandonment of certain manufacturing equipment, facility consolidation and the elimination of certain positions. The following table summarizes the actual and planned charges incurred through September 27, 2015 (in thousands): Capacity and Overhead Cost Reductions Estimated charges Amounts incurred during the three months ended September 27, 2015 Cumulative amounts incurred through September 27, 2015 Affected Line Item in the Consolidated Statements of (Loss) Income Loss on disposal or impairment of long-lived assets $57,720 $13,878 $56,010 Loss on disposal or impairment of long-lived assets Severance expense 2,319 300 2,319 Sales, general and administrative expenses Lease termination and facility consolidation costs 4,559 1,735 3,564 Sales, general and administrative expenses Increase in channel inventory reserves 26,479 — 26,479 Revenue, net Increase in inventory reserves 11,091 — 11,091 Cost of revenue, net Total restructuring charges $102,168 $15,913 $99,463 The Company anticipates that the remaining restructuring charges will be recognized in the second quarter of fiscal 2016. The following table presents the changes in the severance liability under the LED Products restructuring plan (in thousands): Severance liability at June 30, 2014 $— Severance expense 2,019 Severance payments — Severance liability at June 28, 2015 $2,019 Severance expense 300 Severance payments (1,950 ) Severance liability at September 27, 2015 $369

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Sep. 27, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The consolidated balance sheet at September 27, 2015 , the consolidated statements of (loss) income for the three months ended September 27, 2015 and September 28, 2014 , the consolidated statements of comprehensive (loss) income for the three months ended September 27, 2015 and September 28, 2014 , and the consolidated statements of cash flows for the three months ended September 27, 2015 and September 28, 2014 (collectively, the consolidated financial statements) have been prepared by the Company and have not been audited. In the opinion of management, all normal and recurring adjustments necessary to fairly present the consolidated financial position, results of operations and cash flows at September 27, 2015 , and for all periods presented, have been made. All intercompany accounts and transactions have been eliminated. The consolidated balance sheet at June 28, 2015 has been derived from the audited financial statements as of that date. These financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) for interim information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for annual financial statements. These financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 28, 2015 (fiscal 2015 ). The results of operations for the three months ended September 27, 2015 are not necessarily indicative of the operating results that may be attained for the entire fiscal year ending June 26, 2016 (fiscal 2016 ). The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses, and the disclosure of contingent assets and liabilities. Actual amounts could differ materially from those estimates. Certain fiscal 2015 amounts in the accompanying consolidated financial statements have been reclassified to conform to the fiscal 2016 presentation. These reclassifications had no effect on previously reported consolidated net income or shareholders’ equity.
New Accounting Standards	Recently Issued Accounting Pronouncements Revenue from Contracts with Customers In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09: Revenue from Contracts with Customers (Topic 606). The ASU establishes a principles-based approach for accounting for revenue arising from contracts with customers and supersedes existing revenue recognition guidance. The ASU provides that an entity should apply a five-step approach for recognizing revenue, including (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when, or as, the entity satisfies a performance obligation. Also, the entity must provide various disclosures concerning the nature, amount and timing of revenue and cash flows arising from contracts with customers. The effective date will be the first quarter of the Company's fiscal year ending June 30, 2019, using one of two retrospective application methods. The Company is currently analyzing the impact of this new accounting guidance.
Stock-Based Compensation Valuation and Expense	Stock-Based Compensation Valuation and Expense The Company accounts for its employee stock-based compensation plans using the fair value method. The fair value method requires the Company to estimate the grant-date fair value of its stock-based awards and amortize this fair value to compensation expense over the requisite service period or vesting term. The Company uses the Black-Scholes option-pricing model to estimate the fair value of the Company’s stock option and ESPP awards. The determination of the fair value of stock-based payment awards on the date of grant using an option-pricing model is affected by the Company’s stock price as well as assumptions regarding a number of complex and subjective variables. These variables include the expected stock price volatility over the term of the awards, actual and projected employee stock option exercise behaviors, the risk-free interest rate and expected dividends. Due to the inherent limitations of option-valuation models, future events that are unpredictable and the estimation process utilized in determining the valuation of the stock-based awards, the ultimate value realized by award holders may vary significantly from the amounts expensed in the Company’s financial statements. For RSAs and RSUs, the grant-date fair value is based upon the market price of the Company’s common stock on the date of the grant. This fair value is then amortized to compensation expense over the requisite service period or vesting term. Stock-based compensation expense is recognized net of estimated forfeitures such that expense is recognized only for those stock-based awards that are expected to vest. A forfeiture rate is estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from initial estimates.
Financial Results by Reportable Segment	Financial Results by Reportable Segment The table below reflects the results of the Company's reportable segments as reviewed by the Chief Operating Decision Maker (CODM) for the three months ended September 27, 2015 and September 28, 2014 . The Company's CODM is the Chief Executive Officer. The Company used the same accounting policies to derive the segment results reported below as those used in the Company's consolidated financial statements. The Company's CODM does not review inter-segment transactions when evaluating segment performance and allocating resources to each segment, and inter-segment transactions are not included in the segment revenue presented in the table below. As such, total segment revenue in the table below is equal to the Company's consolidated revenue. The Company's CODM reviews gross profit as the lowest and only level of segment profit. As such, all items below gross profit in the Consolidated Statements of (Loss) Income must be included to reconcile the consolidated gross profit presented in the table below to the Company's consolidated income before income taxes. In order to determine gross profit for each reportable segment, the Company allocates direct costs and indirect costs to each segment's cost of revenue. The Company allocates indirect costs, such as employee benefits for manufacturing employees, shared facilities services, information technology, purchasing, and customer service, when the costs are identifiable and beneficial to the reportable segment. The Company allocates these indirect costs based on a reasonable measure of utilization that considers the specific facts and circumstances of the costs being allocated. Unallocated costs in the table below consisted primarily of manufacturing employees’ stock-based compensation, expenses for profit sharing and quarterly or annual incentive plans and matching contributions under the Company’s 401(k) plan. These costs were not allocated to the reportable segments’ gross profit because the Company’s CODM does not review them regularly when evaluating segment performance and allocating resources.

Acquisition (Tables)

Acquisition (Tables)	3 Months Ended
	Sep. 27, 2015
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	The total estimated purchase price for this acquisition is as follows (in thousands): Cash consideration paid to shareholders $13,797 Post-closing adjustments 181 Contingent consideration 4,625 Total purchase price $18,603
Purchase Price Allocation [Table Text Block]	The purchase price for this acquisition has been preliminarily allocated to the assets acquired and liabilities assumed based on their estimated fair values as follows (in thousands): Tangible assets: Cash and cash equivalents $1,284 Accounts receivable 1,006 Inventories 143 Property and equipment 1,023 Other assets 427 Total tangible assets 3,883 Intangible assets: Patents 40 Customer relationships 4,500 Developed technology 11,403 In-process research and development 7,565 Non-compete agreements 231 Goodwill 2,497 Total intangible assets 26,236 Liabilities assumed: Accounts payable 55 Accrued expenses and liabilities 2,056 Other long-term liabilities 9,405 Total liabilities assumed 11,516 Net assets acquired $18,603
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]	The identifiable intangible assets acquired as a result of the acquisition will be amortized over their respective estimated useful lives as follows (in thousands, except for years): Asset Amount Estimated Life in Years Patents $40 20 Customer relationships 4,500 4 Developed technology 11,403 10 In-process research and development 1 7,565 - Non-compete agreements 231 3 Total identifiable intangible assets $23,739 (1) In-process research and development (IPR&D) is initially classified as indefinite-lived assets and tested for impairment at least annually or when indications of potential impairment exist. When an IPR&D project is complete, it is reclassified as an amortizable intangible asset and amortized over its estimated useful life.

Financial Statement Details (Ta

Financial Statement Details (Tables)	3 Months Ended
	Sep. 27, 2015
Financial Statement Details [Abstract]
Summary of the Components of Accounts Receivable, Net	The following table summarizes the components of accounts receivable, net (in thousands): September 27, 2015 June 28, 2015 Billed trade receivables $252,191 $246,969 Unbilled contract receivables 1,662 2,223 253,853 249,192 Allowance for sales returns, discounts and other incentives (54,430 ) (58,094 ) Allowance for bad debts (5,642 ) (4,941 ) Accounts receivable, net $193,781 $186,157
Summary of the Components of Inventories	The following table summarizes the components of inventories (in thousands): September 27, 2015 June 28, 2015 Raw material $80,759 $86,331 Work-in-progress 98,618 93,424 Finished goods 109,712 100,821 Inventories $289,089 $280,576
Summary of the Components of Other Current Liabilities	The following table summarizes the components of other current liabilities (in thousands): September 27, 2015 June 28, 2015 Accrued taxes $15,002 $13,935 Accrued professional fees 10,529 10,180 Accrued warranty 12,669 13,006 Accrued other 7,464 7,087 Other current liabilities $45,664 $44,208
Summary of the Components of Accumulated Other Comprehensive Income, Net of Taxes	The following table summarizes the components of accumulated other comprehensive income, net of taxes (in thousands): September 27, 2015 June 28, 2015 Currency translation gain $4,627 $4,986 Net unrealized gain on available-for-sale securities 1,604 812 Accumulated other comprehensive income, net of taxes $6,231 $5,798
Summary of the Components of Non-operating Income, Net	The following table summarizes the components of non-operating (loss) income, net (in thousands): Three Months Ended September 27, 2015 September 28, 2014 Foreign currency loss, net ($4,294 ) ($231 ) Gain on sale of investments, net 2 2 Loss on equity method investment (19,948 ) — Interest income, net 1,297 3,032 Other, net 137 101 Non-operating (loss) income, net ($22,806 ) $2,904
Summary of the Amounts Reclassified Out of Accumulated Other Comprehensive Income	The following table summarizes the amounts reclassified out of accumulated other comprehensive income, net of taxes (in thousands): Accumulated Other Comprehensive Income Component Amount Reclassified Out of Accumulated Other Comprehensive Income Affected Line Item in the Consolidated Statements of (Loss) Income Three Months Ended September 27, 2015 September 28, 2014 Net unrealized gain on available-for-sale securities, net of taxes $2 $2 Non-operating (loss) income, net 2 2 (Loss) income before income taxes 1 — Income tax (benefit) expense $1 $2 Net (loss) income

Investments (Tables)

Investments (Tables)	3 Months Ended
	Sep. 27, 2015
Investments, Debt and Equity Securities [Abstract]
Summary of Short-term Investments by Type	The following tables summarize short-term investments (in thousands): September 27, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Municipal bonds $192,470 $1,650 ($91 ) $194,029 Corporate bonds 158,116 1,174 (130 ) 159,160 Non-U.S. certificates of deposit 195,524 — — 195,524 Total short-term investments $546,110 $2,824 ($221 ) $548,713 June 28, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Municipal bonds $194,123 $988 ($341 ) $194,770 Corporate bonds 152,831 832 (158 ) 153,505 Non-U.S. certificates of deposit 225,206 — — 225,206 Total short-term investments $572,160 $1,820 ($499 ) $573,481
Summary of Gross Unrealized Losses and Estimated Fair Value of Short-term Investments, Aggregated by Investment Type and Length of Time	The following tables present the gross unrealized losses and estimated fair value of the Company's short-term investments, aggregated by investment type and the length of time that individual securities have been in a continuous unrealized loss position (in thousands, except numbers of securities): September 27, 2015 Less than 12 Months Greater than 12 Months Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Municipal bonds $25,072 ($91 ) $— $— $25,072 ($91 ) Corporate bonds 47,248 (117 ) 1,795 (13 ) 49,043 (130 ) Total $72,320 ($208 ) $1,795 ($13 ) $74,115 ($221 ) Number of securities with an unrealized loss 36 1 37 June 28, 2015 Less than 12 Months Greater than 12 Months Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Municipal bonds $53,204 ($341 ) $— $— $53,204 ($341 ) Corporate bonds 46,636 (143 ) 1,812 (15 ) 48,448 (158 ) Total $99,840 ($484 ) $1,812 ($15 ) $101,652 ($499 ) Number of securities with an unrealized loss 54 1 55
Contractual Maturities of Short-term Investments by Type	The contractual maturities of short-term investments as of September 27, 2015 were as follows (in thousands): Within One Year After One, Within Five Years After Five, Within Ten Years After Ten Years Total Municipal bonds $12,772 $146,232 $35,025 $— $194,029 Corporate bonds 33,732 92,471 32,957 — 159,160 Non-U.S. certificates of deposit 195,524 — — — 195,524 Total short-term investments $242,028 $238,703 $67,982 $— $548,713

Fair Value of Financial Instr26

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Sep. 27, 2015
Fair Value Disclosures [Abstract]
Financial Instruments Carried at Fair Value	The following table sets forth financial instruments carried at fair value within the U.S. GAAP hierarchy (in thousands): September 27, 2015 June 28, 2015 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Non-U.S. certificates of deposit $— $158 $— $158 $— $157 $— $157 Money market funds 8,416 — — 8,416 16,457 — — 16,457 Total cash equivalents 8,416 158 — 8,574 16,457 157 — 16,614 Short-term investments: Municipal bonds — 194,029 — 194,029 — 194,770 — 194,770 Corporate bonds — 159,160 — 159,160 — 153,505 — 153,505 Non-U.S. certificates of deposit — 195,524 — 195,524 — 225,206 — 225,206 Total short-term investments — 548,713 — 548,713 — 573,481 — 573,481 Other long-term investments: Common stock of non-U.S. corporations — 34,611 — 34,611 — 57,595 — 57,595 Total other long-term investments — 34,611 — 34,611 — 57,595 — 57,595 Total assets $8,416 $583,482 $— $591,898 $16,457 $631,233 $— $647,690

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Sep. 27, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Components of intangible assets, net	The following table presents the components of intangible assets, net (in thousands): September 27, 2015 June 28, 2015 Gross Accumulated Amortization Net Gross Accumulated Amortization Net Intangible assets with finite lives: Customer relationships $141,420 ($73,670 ) $67,750 $136,920 ($72,063 ) $64,857 Developed technology 174,163 (96,508 ) 77,655 162,760 (91,562 ) 71,198 Non-compete agreements 10,475 (8,467 ) 2,008 10,244 (7,958 ) 2,286 Trade names, finite-lived 520 (520 ) — 520 (520 ) — Patent and licensing rights 148,217 (52,098 ) 96,119 150,038 (50,905 ) 99,133 Total intangible assets with finite lives 474,795 (231,263 ) 243,532 460,482 (223,008 ) 237,474 In-process research and development 7,565 7,565 — — Trade names, indefinite-lived 79,680 79,680 79,680 79,680 Total intangible assets $562,040 ($231,263 ) $330,777 $540,162 ($223,008 ) $317,154
Schedule of future amortization expense of finite-lived intangible assets	Total future amortization expense of finite-lived intangible assets is estimated to be as follows (in thousands): Fiscal Year Ending June 26, 2016 (remainder of fiscal 2016) $28,201 June 25, 2017 35,613 June 24, 2018 34,401 June 30, 2019 21,738 June 28, 2020 16,645 Thereafter 106,934 Total future amortization expense $243,532

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Sep. 27, 2015
Earnings Per Share [Abstract]
Basic Earnings Per Share Computation	The following table presents the computation of basic (loss) earnings per share (in thousands, except per share amounts): Three Months Ended September 27, September 28, Net (loss) income ($23,623 ) $11,130 Weighted average common shares 103,473 119,605 Basic (loss) earnings per share ($0.23 ) $0.09
Diluted Earnings Per Share Computation	The following computation reconciles the differences between the basic and diluted (loss) earnings per share presentations (in thousands, except per share amounts): Three Months Ended September 27, September 28, Net (loss) income ($23,623 ) $11,130 Weighted average common shares - basic 103,473 119,605 Dilutive effect of stock options, nonvested shares and Employee Stock Purchase Plan purchase rights — 1,538 Weighted average common shares - diluted 103,473 121,143 Diluted (loss) earnings per share ($0.23 ) $0.09

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Sep. 27, 2015
Share-based Compensation [Abstract]
Summary of Outstanding Option Awards	The following table summarizes stock option awards outstanding as of September 27, 2015 and changes during the three months then ended (numbers of shares in thousands): Number of Shares Weighted Average Exercise Price Outstanding at June 28, 2015 10,714 $43.10 Granted 1,778 $26.01 Exercised (120 ) $22.86 Forfeited or expired (347 ) $45.95 Outstanding at September 27, 2015 12,025 $40.70
Summary of Nonvested Shares of Restricted Stock Awards and Restricted Stock Unit Awards Outstanding	A summary of nonvested restricted stock awards (RSAs) and restricted stock unit awards (RSUs) outstanding as of September 27, 2015 , and changes during the three months then ended is as follows (numbers of awards and units in thousands): Number of RSAs/RSUs Weighted Average Grant-Date Fair Value Nonvested at June 28, 2015 926 $45.47 Granted 1,119 $26.06 Vested (334 ) $45.03 Forfeited (100 ) $44.99 Nonvested at September 27, 2015 1,611 $32.11
Summary of Total Stock-Based Compensation Expense	Total stock-based compensation expense was as follows (in thousands): Three Months Ended September 27, September 28, Income Statement Classification: Cost of revenue, net $3,029 $2,905 Research and development 3,532 4,471 Sales, general and administrative 8,513 9,383 Total stock-based compensation expense $15,074 $16,759

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Sep. 27, 2015
Commitments and Contingencies Disclosure [Abstract]
Summary of changes in product warranty liabilities	The following table summarizes the changes in the Company's product warranty liabilities (in thousands): Balance at June 28, 2015 $13,968 Warranties accrued in current period 2,672 Recall costs accrued in current period 583 Expenditures (3,604 ) Balance at September 27, 2015 $13,619

Reportable Segments (Tables)

Reportable Segments (Tables)	3 Months Ended
	Sep. 27, 2015
Segment Reporting [Abstract]
Revenues, Gross Profit, Gross Margin, and Inventories by Segment	Revenue, gross profit and gross margin for each of the Company's segments were as follows (in thousands, except percentages): Three Months Ended September 27, September 28, Revenue: Lighting Products revenue $248,031 $223,086 LED Products revenue 148,208 173,590 Power and RF Products revenue 29,250 30,996 Total revenue $425,489 $427,672 Gross Profit and Gross Margin: Lighting Products gross profit $69,081 $55,592 Lighting Products gross margin 27.9 % 24.9 % LED Products gross profit 52,659 67,624 LED Products gross margin 35.5 % 39.0 % Power and RF Products gross profit 14,323 17,857 Power and RF Products gross margin 49.0 % 57.6 % Total segment gross profit 136,063 141,073 Unallocated costs (4,315 ) (5,253 ) Consolidated gross profit $131,748 $135,820 Consolidated gross margin 31.0 % 31.8 % Inventories for each of the Company's segments were as follows (in thousands): September 27, June 28, Lighting Products $157,715 $150,755 LED Products 113,537 114,203 Power and RF Products 12,693 11,536 Total segment inventories 283,945 276,494 Unallocated inventories 5,144 4,082 Consolidated inventories $289,089 $280,576

Costs Associated with LED Bus32

Costs Associated with LED Business Restructuring Costs Associated with LED Business Restructuring (Tables)	3 Months Ended
	Sep. 27, 2015
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs [Table Text Block]	The following table summarizes the actual and planned charges incurred through September 27, 2015 (in thousands): Capacity and Overhead Cost Reductions Estimated charges Amounts incurred during the three months ended September 27, 2015 Cumulative amounts incurred through September 27, 2015 Affected Line Item in the Consolidated Statements of (Loss) Income Loss on disposal or impairment of long-lived assets $57,720 $13,878 $56,010 Loss on disposal or impairment of long-lived assets Severance expense 2,319 300 2,319 Sales, general and administrative expenses Lease termination and facility consolidation costs 4,559 1,735 3,564 Sales, general and administrative expenses Increase in channel inventory reserves 26,479 — 26,479 Revenue, net Increase in inventory reserves 11,091 — 11,091 Cost of revenue, net Total restructuring charges $102,168 $15,913 $99,463
Severance Liability [Table Text Block]	The following table presents the changes in the severance liability under the LED Products restructuring plan (in thousands): Severance liability at June 30, 2014 $— Severance expense 2,019 Severance payments — Severance liability at June 28, 2015 $2,019 Severance expense 300 Severance payments (1,950 ) Severance liability at September 27, 2015 $369

Basis of Presentation and New33

Basis of Presentation and New Accounting Standards Narrative (Details)	3 Months Ended
	Sep. 27, 2015reportable_segments
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of Reportable Segments	3

Acquisition Acquisition (Detail

Acquisition Acquisition (Details) $ in Thousands	3 Months Ended
	Sep. 27, 2015USD ($)
Purchase Price Allocation [Line Items]
Cash consideration paid to shareholders	$ 13,797
Post-closing adjustments	181
Contingent consideration	4,625
Total purchase price	18,603
Cash and cash equivalents	1,284
Accounts receivable	1,006
Inventories	143
Property and equipment	1,023
Other assets	427
Goodwill, Acquired During Period	2,497
Accounts payable	55
Accrued expenses and liabilities	2,056
Other long-term liabilities	9,405
Net assets acquired	18,603
Patents [Member]
Purchase Price Allocation [Line Items]
Finite-Lived Intangibles	$ 40
Estimated Life in Years	20 years
Customer Relationships [Member]
Purchase Price Allocation [Line Items]
Finite-Lived Intangibles	$ 4,500
Estimated Life in Years	4 years
Developed Technology Rights [Member]
Purchase Price Allocation [Line Items]
Finite-Lived Intangibles	$ 11,403
Estimated Life in Years	10 years
In Process Research and Development [Member]
Purchase Price Allocation [Line Items]
In-process research and development	$ 7,565
Noncompete Agreements [Member]
Purchase Price Allocation [Line Items]
Finite-Lived Intangibles	$ 231
Estimated Life in Years	3 years
Total Identifiable Intangible Assets [Member]
Purchase Price Allocation [Line Items]
Total tangible assets	$ 23,739
Liabilities, Total [Member]
Purchase Price Allocation [Line Items]
Total liabilities assumed	11,516
Total Tangible Assets [Member]
Purchase Price Allocation [Line Items]
Total tangible assets	3,883
Total Intangible Assets Including Goodwill [Member]
Purchase Price Allocation [Line Items]
Total tangible assets	$ 26,236

Financial Statement Details (Su

Financial Statement Details (Summary of the Components of Accounts Receivable, Net) (Details) - USD ($) $ in Thousands	Sep. 27, 2015	Jun. 28, 2015
Accounts Receivable, Net, Current [Abstract]
Accounts receivable, gross	$ 253,853	$ 249,192
Allowance for bad debts	(5,642)	(4,941)
Accounts receivable, net	193,781	186,157
Allowance for sales returns, discounts and other incentives [Member]
Accounts Receivable, Net, Current [Abstract]
Allowance for sales returns, discounts and other incentives	(54,430)	(58,094)
Billed trade receivables [Member]
Accounts Receivable, Net, Current [Abstract]
Accounts receivable, gross	252,191	246,969
Unbilled contract receivables [Member]
Accounts Receivable, Net, Current [Abstract]
Accounts receivable, gross	$ 1,662	$ 2,223

Financial Statement Details (36

Financial Statement Details (Summary of the Components of Inventories) (Details) - USD ($) $ in Thousands	Sep. 27, 2015	Jun. 28, 2015
Inventory, Net [Abstract]
Raw material	$ 80,759	$ 86,331
Work-in-progress	98,618	93,424
Finished goods	109,712	100,821
Inventories	$ 289,089	$ 280,576

Financial Statement Details (37

Financial Statement Details (Summary of the Components of Other Current Liabilities) (Details) - USD ($) $ in Thousands	Sep. 27, 2015	Jun. 28, 2015
Accrued Liabilities, Current [Abstract]
Accrued taxes	$ 15,002	$ 13,935
Accrued professional fees	10,529	10,180
Accrued warranty	12,669	13,006
Accrued other	7,464	7,087
Other current liabilities	$ 45,664	$ 44,208

Financial Statement Details (38

Financial Statement Details (Summary of the Components of Accumulated Other Comprehensive Income, Net of Taxes) (Details) - USD ($) $ in Thousands	Sep. 27, 2015	Jun. 28, 2015
Financial Statement Details [Abstract]
Currency translation gain	$ 4,627	$ 4,986
Net unrealized gain on available-for-sale securities	1,604	812
Accumulated other comprehensive income, net of taxes	$ 6,231	$ 5,798

Financial Statement Details (39

Financial Statement Details (Summary of the Components of Non-operating Income, Net) (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 27, 2015	Sep. 28, 2014
Other Income and Expenses [Abstract]
Foreign currency loss, net	$ (4,294)	$ (231)
Gain on sale of investments, net	2	2
Loss on equity method investment	(19,948)	0
Interest income, net	1,297	3,032
Other, net	137	101
Non-operating (loss) income, net	$ (22,806)	$ 2,904

Financial Statement Details (40

Financial Statement Details (Summary of the Amounts Reclassified Out of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 27, 2015	Sep. 28, 2014
Reclassification Out of Accumulated Other Comprehensive Income [Line Items]
Non-operating (loss) income, net	$ (22,806)	$ 2,904
(Loss) income before income taxes	(31,496)	14,361
Income tax (benefit) expense	(7,873)	3,231
Net (loss) income	(23,623)	11,130
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Net Unrealized Investment Gain (Loss) [Member]
Reclassification Out of Accumulated Other Comprehensive Income [Line Items]
Non-operating (loss) income, net	2	2
(Loss) income before income taxes	2	2
Income tax (benefit) expense	1	0
Net (loss) income	$ 1	$ 2

Investments (Summary of Short-t

Investments (Summary of Short-term Investments by Type) (Details) - USD ($) $ in Thousands	Sep. 27, 2015	Jun. 28, 2015
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 546,110	$ 572,160
Gross Unrealized Gains	2,824	1,820
Gross Unrealized Losses	(221)	(499)
Estimated Fair Value	548,713	573,481
Municipal Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	192,470	194,123
Gross Unrealized Gains	1,650	988
Gross Unrealized Losses	(91)	(341)
Estimated Fair Value	194,029	194,770
Corporate Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	158,116	152,831
Gross Unrealized Gains	1,174	832
Gross Unrealized Losses	(130)	(158)
Estimated Fair Value	159,160	153,505
Non-U.S. Certificates of Deposit [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	195,524	225,206
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	$ 195,524	$ 225,206

Investments (Summary of Gross U

Investments (Summary of Gross Unrealized Losses and Estimated Fair Value of Short-term Investments, Aggregated by Investment Type and Length of Time) (Details) $ in Thousands	Sep. 27, 2015USD ($)	Jun. 28, 2015USD ($)
Schedule of Available-for-sale Securities [Line Items]
Fair Value, Less than 12 Months	$ 72,320	$ 99,840
Unrealized Loss, Less than 12 Months	(208)	(484)
Fair Value, Greater than 12 Months	1,795	1,812
Unrealized Loss, Greater than 12 Months	(13)	(15)
Fair Value, Total	74,115	101,652
Unrealized Loss, Total	$ (221)	$ (499)
Number of Securities with an Unrealized Loss, Less than 12 Months	36	54
Number of Securities with an Unrealized Loss, Greater than 12 Months	1	1
Number of Securities with an Unrealized Loss, Total	37	55
Municipal Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value, Less than 12 Months	$ 25,072	$ 53,204
Unrealized Loss, Less than 12 Months	(91)	(341)
Fair Value, Greater than 12 Months	0	0
Unrealized Loss, Greater than 12 Months	0	0
Fair Value, Total	25,072	53,204
Unrealized Loss, Total	(91)	(341)
Corporate Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value, Less than 12 Months	47,248	46,636
Unrealized Loss, Less than 12 Months	(117)	(143)
Fair Value, Greater than 12 Months	1,795	1,812
Unrealized Loss, Greater than 12 Months	(13)	(15)
Fair Value, Total	49,043	48,448
Unrealized Loss, Total	$ (130)	$ (158)

Investments (Contractual Maturi

Investments (Contractual Maturities of Short-term Investments by Type) (Details) - USD ($) $ in Thousands	Sep. 27, 2015	Jun. 28, 2015
Schedule of Available-for-sale Securities [Line Items]
Within One Year	$ 242,028
After One, Within Five Years	238,703
After Five, Within Ten Years	67,982
After Ten Years	0
Total	548,713	$ 573,481
Municipal Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Within One Year	12,772
After One, Within Five Years	146,232
After Five, Within Ten Years	35,025
After Ten Years	0
Total	194,029
Corporate Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Within One Year	33,732
After One, Within Five Years	92,471
After Five, Within Ten Years	32,957
After Ten Years	0
Total	159,160
Non-U.S. Certificates of Deposit [Member]
Schedule of Available-for-sale Securities [Line Items]
Within One Year	195,524
After One, Within Five Years	0
After Five, Within Ten Years	0
After Ten Years	0
Total	$ 195,524

Fair Value of Financial Instr44

Fair Value of Financial Instruments (Financial Instruments Carried at Fair Value) (Details) - USD ($) $ in Thousands	Sep. 27, 2015	Jun. 28, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value transfers level 1 to level 2	$ 0
Fair value transfers, level 2 to level 1	0
Assets, Fair Value Disclosure [Abstract]
Short-term investments	548,713	$ 573,481
Other long-term investments	34,611	57,595
Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	8,574	16,614
Short-term investments	548,713	573,481
Other long-term investments	34,611	57,595
Total assets	591,898	647,690
Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	8,416	16,457
Short-term investments	0	0
Other long-term investments	0	0
Total assets	8,416	16,457
Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	158	157
Short-term investments	548,713	573,481
Other long-term investments	34,611	57,595
Total assets	583,482	631,233
Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	0	0
Short-term investments	0	0
Other long-term investments	0	0
Total assets	0	0
Municipal Bonds [Member]
Assets, Fair Value Disclosure [Abstract]
Short-term investments	194,029	194,770
Municipal Bonds [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Short-term investments	194,029	194,770
Municipal Bonds [Member] | Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Short-term investments	0	0
Municipal Bonds [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Short-term investments	194,029	194,770
Municipal Bonds [Member] | Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Short-term investments	0	0
Corporate Bonds [Member]
Assets, Fair Value Disclosure [Abstract]
Short-term investments	159,160	153,505
Corporate Bonds [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Short-term investments	159,160	153,505
Corporate Bonds [Member] | Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Short-term investments	0	0
Corporate Bonds [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Short-term investments	159,160	153,505
Corporate Bonds [Member] | Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Short-term investments	0	0
Non-U.S. Certificates of Deposit [Member]
Assets, Fair Value Disclosure [Abstract]
Short-term investments	195,524	225,206
Non-U.S. Certificates of Deposit [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Short-term investments	195,524	225,206
Non-U.S. Certificates of Deposit [Member] | Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Short-term investments	0	0
Non-U.S. Certificates of Deposit [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Short-term investments	195,524	225,206
Non-U.S. Certificates of Deposit [Member] | Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Short-term investments	0	0
Common stock of non-U.S. corporations [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Other long-term investments	34,611	57,595
Common stock of non-U.S. corporations [Member] | Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Other long-term investments	0	0
Common stock of non-U.S. corporations [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Other long-term investments	34,611	57,595
Common stock of non-U.S. corporations [Member] | Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Other long-term investments	0	0
Non-U.S. Certificates of Deposit [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	158	157
Non-U.S. Certificates of Deposit [Member] | Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	0	0
Non-U.S. Certificates of Deposit [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	158	157
Non-U.S. Certificates of Deposit [Member] | Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	0	0
Money Market Funds [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	8,416	16,457
Money Market Funds [Member] | Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	8,416	16,457
Money Market Funds [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	0	0
Money Market Funds [Member] | Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	$ 0	$ 0

Intangible Assets (Components o

Intangible Assets (Components of intangible assets, net) (Details) - USD ($) $ in Thousands	Sep. 27, 2015	Jun. 28, 2015
Intangible Assets [Line Items]
Finite-lived intangible assets, gross	$ 474,795	$ 460,482
Finite-lived intangible assets, accumulated amortization	(231,263)	(223,008)
Finite-lived intangible assets, net	243,532	237,474
Trade names, indefinite-lived	79,680	79,680
Intangible Assets, Gross (Excluding Goodwill)	562,040	540,162
Intangible assets, net	330,777	317,154
Customer Relationships [Member]
Intangible Assets [Line Items]
Finite-lived intangible assets, gross	141,420	136,920
Finite-lived intangible assets, accumulated amortization	(73,670)	(72,063)
Finite-lived intangible assets, net	67,750	64,857
Developed Technology [Member]
Intangible Assets [Line Items]
Finite-lived intangible assets, gross	174,163	162,760
Finite-lived intangible assets, accumulated amortization	(96,508)	(91,562)
Finite-lived intangible assets, net	77,655	71,198
Non-compete Agreements [Member]
Intangible Assets [Line Items]
Finite-lived intangible assets, gross	10,475	10,244
Finite-lived intangible assets, accumulated amortization	(8,467)	(7,958)
Finite-lived intangible assets, net	2,008	2,286
Trade Names [Member]
Intangible Assets [Line Items]
Finite-lived intangible assets, gross	520	520
Finite-lived intangible assets, accumulated amortization	(520)	(520)
Finite-lived intangible assets, net	0	0
Patent and Licensing Rights [Member]
Intangible Assets [Line Items]
Finite-lived intangible assets, gross	148,217	150,038
Finite-lived intangible assets, accumulated amortization	(52,098)	(50,905)
Finite-lived intangible assets, net	96,119	99,133
In Process Research and Development [Member]
Intangible Assets [Line Items]
In-process research and development	$ 7,565	$ 0

Intangible Assets Intangible As

Intangible Assets Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 27, 2015	Sep. 28, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, Acquired During Period	$ 2,497
Amortization of Intangible Assets	$ 9,600	$ 8,900

Intangible Assets Intangible 47

Intangible Assets Intangible Assets (Schedule of future amortization expense of finite-lived intangible assets) (Details) - USD ($) $ in Thousands	Sep. 27, 2015	Jun. 28, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
June 26, 2016 (remainder of fiscal 2016)	$ 28,201
June 25, 2017	35,613
June 24, 2018	34,401
June 30, 2019	21,738
June 28, 2020	16,645
Thereafter	106,934
Finite-lived intangible assets, net	$ 243,532	$ 237,474

Long-term Debt (Narrative) (Det

Long-term Debt (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 27, 2015	Jun. 28, 2015
Long-term Debt, Unclassified [Abstract]
Line of Credit Facility, Maximum Borrowing Capacity	$ 500,000
Long-term debt	207,000	$ 200,000
Line of Credit Facility, Remaining Borrowing Capacity	$ 293,000
Long-term Debt, Average Interest Rate	0.99%
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.09%

Shareholders' Equity (Narrative

Shareholders' Equity (Narrative) (Details) - Common Stock [Member] shares in Millions, $ in Millions	3 Months Ended
	Sep. 27, 2015USD ($)shares
Class of Stock [Line Items]
Stock Repurchase Program, Authorized Amount	$ 500
Repurchased share number | shares	2.7
Repurchased share value	$ 69.6

Earnings Per Share (Basic Earni

Earnings Per Share (Basic Earnings Per Share Computation) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 27, 2015	Sep. 28, 2014
Earnings Per Share, Basic [Abstract]
Net (loss) income	$ (23,623)	$ 11,130
Weighted average common shares - basic	103,473	119,605
Basic (loss) earnings per share	$ (0.23)	$ 0.09

Earnings Per Share (Diluted Ear

Earnings Per Share (Diluted Earnings Per Share Computation) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Sep. 27, 2015	Sep. 28, 2014
Earnings Per Share, Diluted [Abstract]
Net (loss) income	$ (23,623)	$ 11,130
Weighted average common shares - basic	103,473	119,605
Dilutive effect of stock options, nonvested shares and Employee Stock Purchase Plan purchase rights	0	1,538
Weighted average common shares - diluted	103,473	121,143
Diluted (loss) earnings per share	$ (0.23)	$ 0.09

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - shares shares in Millions	3 Months Ended
	Sep. 27, 2015	Sep. 28, 2014
Common Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive potential common shares excluded from diluted earnings per share calculation	11.6	5.2

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details)	3 Months Ended
	Sep. 27, 2015plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equity-based compensation plans	1
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum contribution of employee's compensation, percentage	15.00%
Number of opportunities to purchase common stock at discount, per year	2
Employee Stock Purchase Plan Prior to Second Quarter Fiscal 2012 Amendment [Member] | Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee stock plan purchase discount at purchase date	15.00%
Employee Stock Purchase Plan After Second Quarter Fiscal 2012 Amendment [Member] | Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee stock plan purchase discount at beginning of participation period or purchase date	15.00%

Stock-Based Compensation (Summa

Stock-Based Compensation (Summary of Outstanding Option Awards) (Details) - Stock Option [Member] shares in Thousands	3 Months Ended
	Sep. 27, 2015$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding number of shares at beginning of period	10,714
Granted, number of shares	1,778
Exercised, number of shares	(120)
Forfeited or expired, number of shares	(347)
Outstanding number of shares at end of period	12,025
Outstanding weighted-average exercise price at beginning of period | $ / shares	$ 43.10
Granted, weighted-average exercise price | $ / shares	26.01
Exercised, weighted-average exercise price | $ / shares	22.86
Forfeited or expired, weighted-average exercise price | $ / shares	45.95
Outstanding weighted-average exercised price at end of period | $ / shares	$ 40.70

Stock-Based Compensation (Sum55

Stock-Based Compensation (Summary of Nonvested Shares of Restricted Stock and Stock Unit Awards Outstanding) (Details) - Restricted Stock Awards And Restricted Stock Units [Member] shares in Thousands	3 Months Ended
	Sep. 27, 2015$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested, Number of RSAs/RSUs at beginning of period	926
Granted, Number of RSAs/RSUs	1,119
Vested, number of RSAs/RSUs	(334)
Forfeited, number of RSAs/RSUs	(100)
Nonvested, Number of RSAs/RSUs at end of period	1,611
Nonvested, weighted-average grant-date fair value at beginning of period | $ / shares	$ 45.47
Granted, weighted-average grant-date fair value | $ / shares	26.06
Vested, weighted-average grant-date fair value | $ / shares	45.03
Forfeited, weighted-average grant-date fair value | $ / shares	44.99
Nonvested, weighted-average grant-date fair value at end of period | $ / shares	$ 32.11

Stock-Based Compensation (Total

Stock-Based Compensation (Total Stock-Based Compensation Expense) (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 27, 2015	Sep. 28, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 15,074	$ 16,759
Cost of revenue, net [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	3,029	2,905
Research and development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	3,532	4,471
Selling, general and administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 8,513	$ 9,383

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 27, 2015	Jun. 28, 2015
Income Tax Disclosure [Abstract]
U.S. statutory tax rate	35.00%
Unrecognized tax benefits balance	$ 18.4	$ 17.8
Unrecognized Tax Benefits, Period Increase (Decrease)	0.6
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	18.4
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit	0.2
Expiration of Tax Credit Carryforward	2.3
Income Tax Credits and Adjustments	3.9
Tax Credit Carryforward, Valuation Allowance	$ 1.5

Commitments and Contingencies58

Commitments and Contingencies (Warranties) (Details) $ in Thousands	3 Months Ended
	Sep. 27, 2015USD ($)
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Warranty accrual, beginning balance	$ 13,968
Warranties accrued in current period	2,672
Recall costs accrued in current period	583
Expenditures	(3,604)
Warranty accrual, ending balance	13,619
Product Warranty Liability, Long-Term	$ 900
Minimum [Member]
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Product Warranty, Range Period	90 days
Maximum [Member]
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Product Warranty, Range Period	10 years

Reportable Segments (Revenues,

Reportable Segments (Revenues, Gross Profit and Gross Margin, by Segment) (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 27, 2015	Sep. 28, 2014
Segment Reporting Information [Line Items]
Revenue, net	$ 425,489	$ 427,672
Gross profit	$ 131,748	$ 135,820
Gross margin	31.00%	31.80%
Lighting Products [Member]
Segment Reporting Information [Line Items]
Revenue, net	$ 248,031	$ 223,086
Gross profit	$ 69,081	$ 55,592
Gross margin	27.90%	24.90%
LED Products [Member]
Segment Reporting Information [Line Items]
Revenue, net	$ 148,208	$ 173,590
Gross profit	$ 52,659	$ 67,624
Gross margin	35.50%	39.00%
Power and RF Products [Member]
Segment Reporting Information [Line Items]
Revenue, net	$ 29,250	$ 30,996
Gross profit	$ 14,323	$ 17,857
Gross margin	49.00%	57.60%
Total segment gross profit [Member]
Segment Reporting Information [Line Items]
Gross profit	$ 136,063	$ 141,073
Unallocated Costs [Member]
Segment Reporting Information [Line Items]
Gross profit	$ (4,315)	$ (5,253)

Reportable Segments Schedule of

Reportable Segments Schedule of Inventory by Reportable Segment (Details) - USD ($) $ in Thousands	Sep. 27, 2015	Jun. 28, 2015
Segment Reporting Information [Line Items]
Inventories	$ 289,089	$ 280,576
Lighting Products [Member]
Segment Reporting Information [Line Items]
Inventories	157,715	150,755
LED Products [Member]
Segment Reporting Information [Line Items]
Inventories	113,537	114,203
Power and RF Products [Member]
Segment Reporting Information [Line Items]
Inventories	12,693	11,536
Total segment inventories [Member]
Segment Reporting Information [Line Items]
Inventories	283,945	276,494
Unallocated inventories [Member]
Segment Reporting Information [Line Items]
Inventories	$ 5,144	$ 4,082

Costs Associated with LED Bus61

Costs Associated with LED Business Restructuring Costs Associated with LED Business Restructuring (Details) $ in Thousands	3 Months Ended
	Sep. 27, 2015USD ($)
Restructuring Cost and Reserve [Line Items]
Estimated charges	$ 102,168
Amounts incurred during the three months ended September 27, 2015	15,913
Cumulative amounts incurred through September 27, 2015	99,463
Loss on disposal or impairment of long-lived assets | Loss on disposal or impairment of long-lived assets
Restructuring Cost and Reserve [Line Items]
Estimated charges	57,720
Amounts incurred during the three months ended September 27, 2015	13,878
Cumulative amounts incurred through September 27, 2015	56,010
Severance expense | Sales, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Estimated charges	2,319
Amounts incurred during the three months ended September 27, 2015	300
Cumulative amounts incurred through September 27, 2015	2,319
Lease termination and facility consolidation costs | Sales, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Estimated charges	4,559
Amounts incurred during the three months ended September 27, 2015	1,735
Cumulative amounts incurred through September 27, 2015	3,564
Increase in channel inventory reserves | Revenue, net
Restructuring Cost and Reserve [Line Items]
Estimated charges	26,479
Amounts incurred during the three months ended September 27, 2015	0
Cumulative amounts incurred through September 27, 2015	26,479
Increase in inventory reserves | Cost of revenue, net
Restructuring Cost and Reserve [Line Items]
Estimated charges	11,091
Amounts incurred during the three months ended September 27, 2015	0
Cumulative amounts incurred through September 27, 2015	$ 11,091

Costs Associated with LED Bus62

Costs Associated with LED Business Restructuring Schedule of Severance Liability (Details) - Employee Severance [Member] - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Sep. 27, 2015	Jun. 28, 2015	Jun. 30, 2014
Restructuring Cost and Reserve [Line Items]
Severance liability	$ 369	$ 2,019	$ 0
Severance expense	300	2,019
Severance payments	$ (1,950)	$ 0