Wolfspeed (WOLF) 10-Q 27 Apr 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Mar. 27, 2016	Apr. 20, 2016
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	Mar. 27, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		100,427,836
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 27, 2016	Jun. 28, 2015
Current assets:
Cash and cash equivalents	$ 115,562	$ 139,710
Short-term investments	504,888	573,481
Total cash, cash equivalents and short-term investments	620,450	713,191
Accounts receivable, net	178,606	186,157
Income tax receivable	12,261	0
Inventories	297,860	280,576
Deferred income taxes	0	39,190
Prepaid expenses	20,755	29,932
Other current assets	57,807	54,851
Assets held for sale	5,700	4,353
Total current assets	1,193,439	1,308,250
Property and equipment, net	612,072	635,072
Goodwill	618,828	616,345
Intangible assets, net	309,919	310,729
Other long-term investments	41,661	57,595
Deferred income taxes	28,578	8,951
Other assets	9,648	11,091
Total assets	2,814,145	2,948,033
Current liabilities:
Accounts payable, trade	129,963	163,128
Accrued salaries and wages	45,993	45,415
Income taxes payable	0	2,035
Other current liabilities	42,046	44,208
Total current liabilities	218,002	254,786
Long-term liabilities:
Long-term debt	225,000	200,000
Deferred income taxes	1,270	10,211
Other long-term liabilities	16,416	21,084
Total long-term liabilities	$ 242,686	$ 231,295
Commitments and contingencies (Note 12)
Shareholders' equity:
Preferred stock, par value $0.01; 3,000 shares authorized at March 27, 2016 and June 28, 2015; none issued and outstanding	$ 0	$ 0
Common stock, par value $0.00125; 200,000 shares authorized at March 27, 2016 and June 28, 2015; 100,424 and 105,507 shares issued and outstanding at March 27, 2016 and June 28, 2015, respectively	124	131
Additional paid-in-capital	2,336,099	2,285,554
Accumulated other comprehensive income, net of taxes	7,206	5,798
Retained earnings	10,028	170,469
Total shareholders’ equity	2,353,457	2,461,952
Total liabilities and shareholders’ equity	$ 2,814,145	$ 2,948,033

Consolidated Balance Sheets Con

Consolidated Balance Sheets Consolidation Balance Sheets (Parenthetical) - $ / shares shares in Thousands	Mar. 27, 2016	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	100,424	105,507
Common stock, shares outstanding	100,424	105,507

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 27, 2016	Mar. 29, 2015	Mar. 27, 2016	Mar. 29, 2015
Income Statement [Abstract]
Revenue, net	$ 366,919	$ 409,519	$ 1,228,214	$ 1,250,348
Cost of revenue, net	257,886	284,371	854,163	853,119
Gross profit	109,033	125,148	374,051	397,229
Operating expenses:
Research and development	41,871	43,823	127,363	137,537
Sales, general and administrative	64,489	71,860	214,443	213,927
Amortization or impairment of acquisition-related intangibles	7,318	6,749	21,442	19,743
(Gain) loss on disposal or impairment of long-lived assets	(104)	1,459	16,483	3,641
Total operating expenses	113,574	123,891	379,731	374,848
Operating (loss) income	(4,541)	1,257	(5,680)	22,381
Non-operating income (expense), net	717	(866)	(14,075)	3,766
(Loss) income before income taxes	(3,824)	391	(19,755)	26,147
Income tax (benefit) expense	(3,976)	(85)	(8,860)	2,739
Net income (loss)	$ 152	$ 476	$ (10,895)	$ 23,408
Earnings (loss) per share:
Basic	$ 0	$ 0	$ (0.11)	$ 0.20
Diluted	$ 0	$ 0	$ (0.11)	$ 0.20
Weighted average shares used in per share calculation:
Basic	100,606	110,662	102,157	115,177
Diluted	101,221	111,590	102,157	116,304

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 27, 2016	Mar. 29, 2015	Mar. 27, 2016	Mar. 29, 2015
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 152	$ 476	$ (10,895)	$ 23,408
Currency translation gain (loss)	432	(2,071)	(357)	(3,971)
Net unrealized gain (loss) on available-for-sale securities, net of tax (expense) benefit of ($716), ($741), ($1,092) and $86, respectively	1,152	1,186	1,765	(126)
Other comprehensive income (loss)	1,584	(885)	1,408	(4,097)
Comprehensive income (loss)	$ 1,736	$ (409)	$ (9,487)	$ 19,311

Consolidated Statements of Com6

Consolidated Statements of Comprehensive Income Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 27, 2016	Mar. 29, 2015	Mar. 27, 2016	Mar. 29, 2015
Statement of Comprehensive Income [Abstract]
Tax (expense) benefit on net unrealized gain (loss) on available-for-sale securities	$ (716)	$ (741)	$ (1,092)	$ 86

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Mar. 27, 2016	Mar. 29, 2015
Cash flows from operating activities:
Net income (loss)	$ (10,895)	$ 23,408
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	119,920	131,171
Stock-based compensation	44,318	49,260
Excess tax benefit from stock-based payment arrangements	(12)	(1,656)
Impairment of acquisition-related intangibles	0	254
(Gain) loss on disposal or impairment of long-lived assets	16,483	3,641
Amortization of premium/discount on investments	4,100	4,809
Loss on equity method investment	13,712	2,991
Foreign exchange loss on equity method investment	2,220	710
Deferred income taxes	537	(1,729)
Changes in operating assets and liabilities:
Accounts receivable, net	8,594	7,579
Inventories	(17,517)	(15,101)
Prepaid expenses and other assets	(14,792)	2,275
Accounts payable, trade	(18,279)	(69,330)
Accrued salaries and wages and other liabilities	(9,626)	(44,583)
Net cash provided by operating activities	138,763	93,699
Cash flows from investing activities:
Purchases of property and equipment	(99,692)	(158,277)
Purchases of patent and licensing rights	(11,034)	(14,550)
Proceeds from sale of property and equipment	5,199	122
Purchases of short-term investments	(192,728)	(254,883)
Proceeds from maturities of short-term investments	228,774	337,331
Proceeds from sale of short-term investments	31,262	207,551
Purchase of other long-term investments	0	(80,566)
Purchase of acquired business, net of cash acquired	(12,513)	0
Net cash (used in) provided by investing activities	(50,732)	36,728
Cash flows from financing activities:
Proceeds from long-term debt borrowings	538,000	440,000
Payments on long-term debt borrowings	(513,000)	(290,000)
Net proceeds from issuance of common stock	13,321	26,832
Excess tax benefit from stock-based payment arrangements	12	1,656
Repurchases of common stock	(149,555)	(390,088)
Net cash used in financing activities	(111,222)	(211,600)
Effects of foreign exchange changes on cash and cash equivalents	(957)	(923)
Net decrease in cash and cash equivalents	(24,148)	(82,096)
Cash and cash equivalents:
Beginning of period	139,710	286,824
End of period	115,562	204,728
Accrued property and equipment	$ 7,317	$ 11,182

Basis of Presentation and New A

Basis of Presentation and New Accounting Standards	9 Months Ended
	Mar. 27, 2016
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. This initial public offering is dependent upon many factors, and may not occur on favorable terms or at all. 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 March 27, 2016 , the consolidated statements of income (loss) for the three and nine months ended March 27, 2016 and March 29, 2015 , the consolidated statements of comprehensive income (loss) for the three and nine months ended March 27, 2016 and March 29, 2015 , and the consolidated statements of cash flows for the nine months ended March 27, 2016 and March 29, 2015 (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 state the consolidated financial position, results of operations and cash flows at March 27, 2016 , 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 and nine months ended March 27, 2016 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. Revision of Prior Period Financial Statements During the third quarter of fiscal 2016, the Company identified errors in its previously reported financial statements in which amortization expense was understated as certain patents were being amortized over a life longer than the life of the underlying patent right. The Company assessed the materiality of these errors on prior periods’ financial statements in accordance with the United States Securities and Exchange Commission (SEC) Staff Accounting Bulletin (SAB) No. 99, Materiality, codified in the Accounting Standards Codification (ASC) 250, Presentation of Financial Statements, and concluded that they were not material individually or in the aggregate to any prior annual or interim periods. However, through the second quarter of fiscal 2016 the aggregate amount of the prior period errors of $6.8 million before income taxes would have been material to our current interim Consolidated Statements of Income (Loss). Consequently, in accordance with ASC 250, the Company corrected these errors, and other immaterial errors, for all prior periods presented by revising the consolidated financial statements and other financial information included herein. Periods not presented herein will be revised, as applicable in future filings. The following table summarizes the effects of the revision on the Consolidated Balance Sheet as of June 28, 2015 (in thousands): As Previously Reported Revision Adjustments As Revised Intangible assets, net $317,154 ($6,425 ) $310,729 Deferred income taxes 8,893 58 8,951 Total assets 2,954,400 (6,367 ) 2,948,033 Deferred income taxes 12,174 (1,963 ) 10,211 Total long-term liabilities 233,258 (1,963 ) 231,295 Retained earnings 174,873 (4,404 ) 170,469 Total shareholders' equity 2,466,356 (4,404 ) 2,461,952 Total liabilities and shareholders' equity 2,954,400 (6,367 ) 2,948,033 The following table summarizes the effects of the revision on the Consolidated Statements of Income (Loss) (in thousands): Three Months Ended March 29, 2015 Nine Months Ended March 29, 2015 As Previously Reported Revision Adjustments As Revised As Previously Reported Revision Adjustments As Revised Cost of revenue, net 284,111 260 284,371 852,341 778 853,119 Gross profit 125,408 (260 ) 125,148 398,007 (778 ) 397,229 Operating (loss) income 1,517 (260 ) 1,257 23,159 (778 ) 22,381 (Loss) income before income taxes 651 (260 ) 391 26,925 (778 ) 26,147 Income tax (benefit) expense — (85 ) (85 ) 2,993 (254 ) 2,739 Net income (loss) 651 (175 ) 476 23,932 (524 ) 23,408 Earnings (loss) per share: Basic 0.01 (0.01 ) — 0.21 (0.01 ) 0.20 Diluted 0.01 (0.01 ) — 0.21 (0.01 ) 0.20 The revision had no net impact on the Company’s net cash provided by operating activities. 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 FASB has subsequently issued multiple ASUs which amend and clarify the guidance in 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. Income Taxes In November 2015, the FASB issued ASU No. 2015-17: Income Taxes (Topic 740). The ASU requires entities to present deferred tax assets and deferred tax liabilities as noncurrent in a classified balance sheet. The ASU simplifies the current guidance, which requires entities to separately present deferred tax assets and deferred tax liabilities as current or noncurrent in a classified balance sheet. The ASU is effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Early application of the ASU is permitted as of the beginning of an interim or annual reporting period and may be applied either prospectively or retrospectively to all periods presented. The Company has adopted the provisions of this ASU prospectively for the interim period ended December 27, 2015 and therefore, prior periods were not retrospectively adjusted. The Company’s adoption of the new accounting guidance did not have a significant impact on its consolidated financial statements. Leases In February 2016, the FASB issued ASU No. 2016-02: Leases (Topic 842). The ASU requires that a lessee recognize in its statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. The asset will be based on the liability, subject to adjustment, such as for initial direct costs. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. For income statement purposes, leases are still required to be classified as either operating or finance. Operating leases will result in straight-line expense while finance leases will result in a front-loaded expense pattern. The effective date will be the first quarter of the Company's fiscal year ending June 28, 2020, using a modified retrospective approach. The Company is currently analyzing the impact of this new pronouncement. Stock Compensation In March 2016, the FASB issued ASU No. 2016-09: Compensation-Stock Compensation (Topic 718). The ASU simplifies the current stock compensation guidance for tax consequences. The ASU requires an entity to recognize all excess tax benefits and tax deficiencies as income tax expense or benefit in its income statement. The ASU also eliminates the requirement to defer recognition of an excess tax benefit until the benefit is realized through a reduction to taxes payable. For cash flows statement purposes, excess tax benefits should be classified as an operating activity and cash payments made to taxing authorities on the employee’s behalf for withheld shares should be classified as financing activity. The ASU is effective for public companies for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The Company is currently analyzing the impact of this new pronouncement.

Acquisition

Acquisition	9 Months Ended
	Mar. 27, 2016
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 is not considered a significant subsidiary of the Company and its results from operations are reported as part of the Company's Power and RF Products segment. The total 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 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 935 Other assets 270 Total tangible assets 3,638 Intangible assets: Patents 40 Customer relationships 4,500 Developed technology 11,403 In-process research and development 7,565 Non-compete agreements 231 Goodwill 2,483 Total intangible assets 26,222 Liabilities assumed: Accounts payable 55 Accrued expenses and liabilities 1,911 Other long-term liabilities 9,291 Total liabilities assumed 11,257 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 7 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	9 Months Ended
	Mar. 27, 2016
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): March 27, 2016 June 28, 2015 Billed trade receivables $230,302 $246,969 Unbilled contract receivables 2,781 2,223 233,083 249,192 Allowance for sales returns, discounts and other incentives (48,832 ) (58,094 ) Allowance for bad debts (5,645 ) (4,941 ) Accounts receivable, net $178,606 $186,157 Inventories The following table summarizes the components of inventories (in thousands): March 27, 2016 June 28, 2015 Raw material $88,074 $86,331 Work-in-progress 102,320 93,424 Finished goods 107,466 100,821 Inventories $297,860 $280,576 Other Current Liabilities The following table summarizes the components of other current liabilities (in thousands): March 27, 2016 June 28, 2015 Accrued taxes $13,108 $13,935 Accrued professional fees 7,634 10,180 Accrued warranty 14,168 13,006 Accrued other 7,136 7,087 Other current liabilities $42,046 $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): March 27, 2016 June 28, 2015 Currency translation gain $4,629 $4,986 Net unrealized gain on available-for-sale securities 2,577 812 Accumulated other comprehensive income, net of taxes $7,206 $5,798 Non-Operating Income (Expense), net The following table summarizes the components of non-operating income (expense), net (in thousands): Three Months Ended Nine Months Ended March 27, 2016 March 29, 2015 March 27, 2016 March 29, 2015 Foreign currency gain (loss), net $348 $776 ($4,331 ) ($1,820 ) Gain on sale of investments, net 47 107 63 883 Loss on equity method investment (790 ) (3,670 ) (13,712 ) (2,991 ) Interest income, net 1,024 1,823 3,541 7,441 Other, net 88 98 364 253 Non-operating income (expense), net $717 ($866 ) ($14,075 ) $3,766 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 Income (Loss) Three Months Ended Nine Months Ended March 27, 2016 March 29, 2015 March 27, 2016 March 29, 2015 Net unrealized gain on available-for-sale securities, net of taxes $47 $107 $63 $883 Non-operating income (expense), net 47 107 63 883 (Loss) income before income taxes 49 (23 ) 28 93 Income tax (benefit) expense ($2 ) $130 $35 $790 Net income (loss)

Investments

Investments	9 Months Ended
	Mar. 27, 2016
Investments, Debt and Equity Securities [Abstract]
Investments	Investments Investments consist of municipal bonds, corporate bonds and 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): March 27, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Municipal bonds $188,312 $2,563 ($50 ) $190,825 Corporate bonds 163,898 1,976 (311 ) 165,563 U.S. certificates of deposit 3,500 — — 3,500 Non-U.S. certificates of deposit 145,000 — — 145,000 Total short-term investments $500,710 $4,539 ($361 ) $504,888 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 U.S. certificates of deposit — — — — 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): March 27, 2016 Less than 12 Months Greater than 12 Months Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Municipal bonds $12,447 ($35 ) $5,286 ($15 ) $17,733 ($50 ) Corporate bonds 49,798 (311 ) — — 49,798 (311 ) Total $62,245 ($346 ) $5,286 ($15 ) $67,531 ($361 ) Number of securities with an unrealized loss 37 2 39 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 income (expense), net in the Consolidated Statements of Income (Loss) 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 March 27, 2016 and June 28, 2015 . The contractual maturities of short-term investments as of March 27, 2016 were as follows (in thousands): Within One Year After One, Within Five Years After Five, Within Ten Years After Ten Years Total Municipal bonds $26,540 $130,981 $33,305 $— $190,826 Corporate bonds 25,267 104,509 35,786 — 165,562 U.S. certificates of deposit — 3,500 — — 3,500 Non-U.S. certificates of deposit 145,000 — — — 145,000 Total short-term investments $196,807 $238,990 $69,091 $— $504,888

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Mar. 27, 2016
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 March 27, 2016 , financial assets utilizing Level 1 inputs included money market funds, and financial assets utilizing Level 2 inputs included municipal bonds, corporate bonds, 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 March 27, 2016 . There were no transfers between Level 1 and Level 2 during the nine months ended March 27, 2016 . The following table sets forth financial instruments carried at fair value within the U.S. GAAP hierarchy (in thousands): March 27, 2016 June 28, 2015 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Cash equivalents: U.S. agency securities $— $— $— $— $— $— $— $— Non-U.S. certificates of deposit — 3,605 — 3,605 — 157 — 157 Money market funds 1,347 — — 1,347 16,457 — — 16,457 Total cash equivalents 1,347 3,605 — 4,952 16,457 157 — 16,614 Short-term investments: Municipal bonds — 190,825 — 190,825 — 194,770 — 194,770 Corporate bonds — 165,563 — 165,563 — 153,505 — 153,505 U.S. certificates of deposit — 3,500 — 3,500 — — — — Non-U.S. certificates of deposit — 145,000 — 145,000 — 225,206 — 225,206 Total short-term investments — 504,888 — 504,888 — 573,481 — 573,481 Other long-term investments: Common stock of non-U.S. corporations — 41,661 — 41,661 — 57,595 — 57,595 Total other long-term investments — 41,661 — 41,661 — 57,595 — 57,595 Total assets $1,347 $550,154 $— $551,501 $16,457 $631,233 $— $647,690

Intangible Assets

Intangible Assets	9 Months Ended
	Mar. 27, 2016
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): March 27, 2016 June 28, 2015 Gross Accumulated Amortization Net Gross Accumulated Amortization Net Intangible assets with finite lives: Customer relationships $141,420 ($76,871 ) $64,549 $136,920 ($72,063 ) $64,857 Developed technology 174,163 (106,399 ) 67,764 162,760 (91,562 ) 71,198 In-process research and development 7,565 (270 ) 7,295 — — — Non-compete agreements 10,475 (9,485 ) 990 10,244 (7,958 ) 2,286 Trade names, finite-lived 520 (520 ) — 520 (520 ) — Patent and licensing rights 153,462 (63,821 ) 89,641 150,038 (57,330 ) 92,708 Total intangible assets with finite lives 487,605 (257,366 ) 230,239 460,482 (229,433 ) 231,049 Trade names, indefinite-lived 79,680 79,680 79,680 79,680 Total intangible assets $567,285 ($257,366 ) $309,919 $540,162 ($229,433 ) $310,729 For the three and nine months ended March 27, 2016 , total amortization of finite-lived intangible assets was $10.2 million and $29.9 million , respectively. For the three and nine months ended March 29, 2015 , total amortization of finite-lived intangible assets was $9.3 million and $27.7 million , respectively. During the quarter ended March 27, 2016, the Company started amortizing IPR&D assets acquired in the APEI acquisition that were completed during the quarter. 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) $9,929 June 25, 2017 37,836 June 24, 2018 36,605 June 30, 2019 23,878 June 28, 2020 18,732 Thereafter 103,259 Total future amortization expense $230,239 Goodwill Goodwill assigned to the Power and RF Products reporting unit increased by $2.5 million during the nine months ended March 27, 2016 due to the acquisition of APEI, as discussed in Note 2, "Acquisition."

Long-term Debt

Long-term Debt	9 Months Ended
	Mar. 27, 2016
Long-term Debt, Unclassified [Abstract]
Long-term Debt	Long-term Debt As of March 27, 2016 , 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 March 27, 2016 , the Company had $225 million outstanding under the line of credit and $275 million available for borrowing. For the three and nine months ended March 27, 2016 , the average interest rate was 1.21% and 1.07% , respectively. For the three and nine months ended March 27, 2016 the average commitment fee percentage was 0.09% . The Company was in compliance with all covenants in the line of credit at March 27, 2016 .

Shareholders' Equity

Shareholders' Equity	9 Months Ended
	Mar. 27, 2016
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Shareholders’ Equity As of March 27, 2016 , 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 nine months ended March 27, 2016 , the Company repurchased 5.8 million shares of common stock for $149.6 million under the stock repurchase program.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Mar. 27, 2016
Earnings Per Share [Abstract]
Earnings Per Share	Earnings (Loss) Per Share The following table presents the computation of basic earnings (loss) per share (in thousands, except per share amounts): Three Months Ended Nine Months Ended March 27, March 29, March 27, March 29, Net income (loss) $152 $476 ($10,895 ) $23,408 Weighted average common shares 100,606 110,662 102,157 115,177 Basic earnings (loss) per share $— $— ($0.11 ) $0.20 The following computation reconciles the differences between the basic and diluted earnings (loss) per share presentations (in thousands, except per share amounts): Three Months Ended Nine Months Ended March 27, March 29, March 27, March 29, Net income (loss) $152 $476 ($10,895 ) $23,408 Weighted average common shares - basic 100,606 110,662 102,157 115,177 Dilutive effect of stock options, nonvested shares and Employee Stock Purchase Plan purchase rights 615 928 — 1,127 Weighted average common shares - diluted 101,221 111,590 102,157 116,304 Diluted earnings (loss) per share $— $— ($0.11 ) $0.20 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 and nine months ended March 27, 2016 , there were 10.2 million and 11.5 million , respectively, of potential common shares not included in the calculation of diluted earnings (loss) per share because their effect was anti-dilutive. For the three and nine months ended March 29, 2015 , there were 7.7 million and 6.8 million , respectively, of potential common shares not included in the calculation of diluted earnings (loss) per share because their effect was anti-dilutive.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Mar. 27, 2016
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 March 27, 2016 and changes during the nine 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 1,969 $26.13 Exercised (250 ) $25.30 Forfeited or expired (976 ) $43.62 Outstanding at March 27, 2016 11,457 $40.53 Restricted Stock Awards and Units A summary of nonvested restricted stock awards (RSAs) and restricted stock unit awards (RSUs) outstanding as of March 27, 2016 , and changes during the nine 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 1,179 $26.10 Vested (348 ) $45.00 Forfeited (142 ) $41.83 Nonvested at March 27, 2016 1,615 $31.75 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 Nine Months Ended March 27, March 29, March 27, March 29, Income Statement Classification: Cost of revenue, net $3,078 $3,158 $9,226 $9,511 Research and development 3,694 4,212 10,554 12,795 Sales, general and administrative 8,084 8,694 24,538 26,954 Total stock-based compensation expense $14,856 $16,064 $44,318 $49,260

Income Taxes

Income Taxes	9 Months Ended
	Mar. 27, 2016
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 the impact of the Company’s pre-tax income or loss relative to favorable tax rate impacts associated predominantly with the Company’s: (i) projected income for the full year derived from international locations with lower tax rates than the U.S. and (ii) projected tax credits generated. Tax credits and other deductions have the impact of increasing the tax rate above the statutory rate of 35% in periods in which the Company reports pre-tax losses as they provide a benefit that is recoverable in future periods. 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 nine months ended March 27, 2016 , 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. In addition, there was a $0.1 million decrease to the amount of unrecognized tax benefits following statute expirations. As a result, the total liability for unrecognized tax benefits as of March 27, 2016 was $18.3 million . If any portion of this $18.3 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 $4.3 million of gross unrecognized tax benefits will change in the next 12 months as a result of audit closures and 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 2013. For U.S. state tax returns, the Company is generally no longer subject to tax examinations for fiscal years prior to 2012. 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, adjustment and recapture. The Company is currently under audit by the Italian Revenue Agency for the fiscal year ended June 30, 2013. During the three months ended September 27, 2015, the Company concluded that it is likely that $2.3 million of North Carolina income tax credits will expire unused. As a result, during that period, the Company recorded a $1.5 million valuation allowance against the related deferred tax asset, representing the $2.3 million expiring credits net of federal benefit. During the three months ended March 27, 2016 , the Company concluded that it is likely an additional $0.6 million of North Carolina income tax credits will expire unused. The Company increased the valuation allowance against the related deferred tax asset by $0.4 million , representing the $0.6 million expiring tax credits net of federal benefit, resulting in an additional $0.4 million of income tax expense during the three months ended March 27, 2016 .

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Mar. 27, 2016
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 13,105 Recall costs accrued in current period 423 Expenditures (12,069 ) Balance at March 27, 2016 $15,427 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 March 27, 2016 , $1.3 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	9 Months Ended
	Mar. 27, 2016
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 and nine months ended March 27, 2016 and March 29, 2015 . 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 Income (Loss) must be included to reconcile the consolidated gross profit presented in the table below to the Company's consolidated (loss) 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 Nine Months Ended March 27, March 29, March 27, March 29, Revenue: Lighting Products revenue $187,714 $224,109 $690,715 $677,363 LED Products revenue 150,189 154,384 451,759 479,851 Power and RF Products revenue 29,016 31,026 85,740 93,134 Total revenue $366,919 $409,519 $1,228,214 $1,250,348 Gross Profit and Gross Margin: Lighting Products gross profit $48,808 $58,315 $190,531 $178,608 Lighting Products gross margin 26.0 % 26.0 % 27.6 % 26.4 % LED Products gross profit 52,102 55,358 156,489 182,406 LED Products gross margin 34.7 % 35.9 % 34.6 % 38.0 % Power and RF Products gross profit 13,477 16,484 42,146 51,601 Power and RF Products gross margin 46.4 % 53.1 % 49.2 % 55.4 % Total segment gross profit 114,387 130,157 389,166 412,615 Unallocated costs (5,354 ) (5,009 ) (15,115 ) (15,386 ) Consolidated gross profit $109,033 $125,148 $374,051 $397,229 Consolidated gross margin 29.7 % 30.6 % 30.5 % 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): March 27, June 28, Lighting Products $168,347 $150,755 LED Products 107,480 114,203 Power and RF Products 18,102 11,536 Total segment inventories 293,929 276,494 Unallocated inventories 3,931 4,082 Consolidated inventories $297,860 $280,576

Costs Associated with LED Busin

Costs Associated with LED Business Restructuring	9 Months Ended
	Mar. 27, 2016
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 reduced 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 restructuring activity ended in the second quarter of fiscal 2016. While no charges were incurred for the three months ended March 27, 2016 , the Company did realize a $1.1 million gain of the sale of long-lived assets related to the restructuring which were sold for a value in excess of their estimated net realizable value. The following table summarizes the actual and planned charges incurred through March 27, 2016 (in thousands): Capacity and Overhead Cost Reductions Estimated charges Amounts incurred during the nine months ended March 27, 2016 Cumulative amounts incurred through March 27, 2016 Affected Line Item in the Consolidated Statements of Income (Loss) Loss on disposal or impairment of long-lived assets $57,651 $15,519 $57,651 Loss on disposal or impairment of long-lived assets Severance expense 2,283 264 2,283 Sales, general and administrative expenses Lease termination and facility consolidation costs 4,762 2,933 4,762 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 $102,266 $18,716 $102,266 The following table presents the changes in the severance liability under the LED Products restructuring plan (in thousands): Severance liability at June 28, 2015 $2,019 Severance expense 264 Severance payments (2,283 ) Severance liability at March 27, 2016 $—

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Mar. 27, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The consolidated balance sheet at March 27, 2016 , the consolidated statements of income (loss) for the three and nine months ended March 27, 2016 and March 29, 2015 , the consolidated statements of comprehensive income (loss) for the three and nine months ended March 27, 2016 and March 29, 2015 , and the consolidated statements of cash flows for the nine months ended March 27, 2016 and March 29, 2015 (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 state the consolidated financial position, results of operations and cash flows at March 27, 2016 , 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 and nine months ended March 27, 2016 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.
Comparability of Prior Period Financial Data	Revision of Prior Period Financial Statements During the third quarter of fiscal 2016, the Company identified errors in its previously reported financial statements in which amortization expense was understated as certain patents were being amortized over a life longer than the life of the underlying patent right. The Company assessed the materiality of these errors on prior periods’ financial statements in accordance with the United States Securities and Exchange Commission (SEC) Staff Accounting Bulletin (SAB) No. 99, Materiality, codified in the Accounting Standards Codification (ASC) 250, Presentation of Financial Statements, and concluded that they were not material individually or in the aggregate to any prior annual or interim periods. However, through the second quarter of fiscal 2016 the aggregate amount of the prior period errors of $6.8 million before income taxes would have been material to our current interim Consolidated Statements of Income (Loss). Consequently, in accordance with ASC 250, the Company corrected these errors, and other immaterial errors, for all prior periods presented by revising the consolidated financial statements and other financial information included herein. Periods not presented herein will be revised, as applicable in future filings. The following table summarizes the effects of the revision on the Consolidated Balance Sheet as of June 28, 2015 (in thousands): As Previously Reported Revision Adjustments As Revised Intangible assets, net $317,154 ($6,425 ) $310,729 Deferred income taxes 8,893 58 8,951 Total assets 2,954,400 (6,367 ) 2,948,033 Deferred income taxes 12,174 (1,963 ) 10,211 Total long-term liabilities 233,258 (1,963 ) 231,295 Retained earnings 174,873 (4,404 ) 170,469 Total shareholders' equity 2,466,356 (4,404 ) 2,461,952 Total liabilities and shareholders' equity 2,954,400 (6,367 ) 2,948,033 The following table summarizes the effects of the revision on the Consolidated Statements of Income (Loss) (in thousands): Three Months Ended March 29, 2015 Nine Months Ended March 29, 2015 As Previously Reported Revision Adjustments As Revised As Previously Reported Revision Adjustments As Revised Cost of revenue, net 284,111 260 284,371 852,341 778 853,119 Gross profit 125,408 (260 ) 125,148 398,007 (778 ) 397,229 Operating (loss) income 1,517 (260 ) 1,257 23,159 (778 ) 22,381 (Loss) income before income taxes 651 (260 ) 391 26,925 (778 ) 26,147 Income tax (benefit) expense — (85 ) (85 ) 2,993 (254 ) 2,739 Net income (loss) 651 (175 ) 476 23,932 (524 ) 23,408 Earnings (loss) per share: Basic 0.01 (0.01 ) — 0.21 (0.01 ) 0.20 Diluted 0.01 (0.01 ) — 0.21 (0.01 ) 0.20 The revision had no net impact on the Company’s net cash provided by operating activities.
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 FASB has subsequently issued multiple ASUs which amend and clarify the guidance in 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. Income Taxes In November 2015, the FASB issued ASU No. 2015-17: Income Taxes (Topic 740). The ASU requires entities to present deferred tax assets and deferred tax liabilities as noncurrent in a classified balance sheet. The ASU simplifies the current guidance, which requires entities to separately present deferred tax assets and deferred tax liabilities as current or noncurrent in a classified balance sheet. The ASU is effective for financial statements issued for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Early application of the ASU is permitted as of the beginning of an interim or annual reporting period and may be applied either prospectively or retrospectively to all periods presented. The Company has adopted the provisions of this ASU prospectively for the interim period ended December 27, 2015 and therefore, prior periods were not retrospectively adjusted. The Company’s adoption of the new accounting guidance did not have a significant impact on its consolidated financial statements. Leases In February 2016, the FASB issued ASU No. 2016-02: Leases (Topic 842). The ASU requires that a lessee recognize in its statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. The asset will be based on the liability, subject to adjustment, such as for initial direct costs. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. For income statement purposes, leases are still required to be classified as either operating or finance. Operating leases will result in straight-line expense while finance leases will result in a front-loaded expense pattern. The effective date will be the first quarter of the Company's fiscal year ending June 28, 2020, using a modified retrospective approach. The Company is currently analyzing the impact of this new pronouncement. Stock Compensation In March 2016, the FASB issued ASU No. 2016-09: Compensation-Stock Compensation (Topic 718). The ASU simplifies the current stock compensation guidance for tax consequences. The ASU requires an entity to recognize all excess tax benefits and tax deficiencies as income tax expense or benefit in its income statement. The ASU also eliminates the requirement to defer recognition of an excess tax benefit until the benefit is realized through a reduction to taxes payable. For cash flows statement purposes, excess tax benefits should be classified as an operating activity and cash payments made to taxing authorities on the employee’s behalf for withheld shares should be classified as financing activity. The ASU is effective for public companies for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The Company is currently analyzing the impact of this new pronouncement.
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 and nine months ended March 27, 2016 and March 29, 2015 . 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 Income (Loss) must be included to reconcile the consolidated gross profit presented in the table below to the Company's consolidated (loss) 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.

Basis of Presentation and New23

Basis of Presentation and New Accounting Standards Revision of Prior Period Financial Statements (Tables)	9 Months Ended
	Mar. 27, 2016
Accounting Changes and Error Corrections [Abstract]
Schedule of error corrections and prior period adjustments	The following table summarizes the effects of the revision on the Consolidated Statements of Income (Loss) (in thousands): Three Months Ended March 29, 2015 Nine Months Ended March 29, 2015 As Previously Reported Revision Adjustments As Revised As Previously Reported Revision Adjustments As Revised Cost of revenue, net 284,111 260 284,371 852,341 778 853,119 Gross profit 125,408 (260 ) 125,148 398,007 (778 ) 397,229 Operating (loss) income 1,517 (260 ) 1,257 23,159 (778 ) 22,381 (Loss) income before income taxes 651 (260 ) 391 26,925 (778 ) 26,147 Income tax (benefit) expense — (85 ) (85 ) 2,993 (254 ) 2,739 Net income (loss) 651 (175 ) 476 23,932 (524 ) 23,408 Earnings (loss) per share: Basic 0.01 (0.01 ) — 0.21 (0.01 ) 0.20 Diluted 0.01 (0.01 ) — 0.21 (0.01 ) 0.20 The following table summarizes the effects of the revision on the Consolidated Balance Sheet as of June 28, 2015 (in thousands): As Previously Reported Revision Adjustments As Revised Intangible assets, net $317,154 ($6,425 ) $310,729 Deferred income taxes 8,893 58 8,951 Total assets 2,954,400 (6,367 ) 2,948,033 Deferred income taxes 12,174 (1,963 ) 10,211 Total long-term liabilities 233,258 (1,963 ) 231,295 Retained earnings 174,873 (4,404 ) 170,469 Total shareholders' equity 2,466,356 (4,404 ) 2,461,952 Total liabilities and shareholders' equity 2,954,400 (6,367 ) 2,948,033

Acquisition (Tables)

Acquisition (Tables)	9 Months Ended
	Mar. 27, 2016
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	The total 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 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 935 Other assets 270 Total tangible assets 3,638 Intangible assets: Patents 40 Customer relationships 4,500 Developed technology 11,403 In-process research and development 7,565 Non-compete agreements 231 Goodwill 2,483 Total intangible assets 26,222 Liabilities assumed: Accounts payable 55 Accrued expenses and liabilities 1,911 Other long-term liabilities 9,291 Total liabilities assumed 11,257 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 7 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)	9 Months Ended
	Mar. 27, 2016
Financial Statement Details [Abstract]
Summary of the Components of Accounts Receivable, Net	The following table summarizes the components of accounts receivable, net (in thousands): March 27, 2016 June 28, 2015 Billed trade receivables $230,302 $246,969 Unbilled contract receivables 2,781 2,223 233,083 249,192 Allowance for sales returns, discounts and other incentives (48,832 ) (58,094 ) Allowance for bad debts (5,645 ) (4,941 ) Accounts receivable, net $178,606 $186,157
Summary of the Components of Inventories	The following table summarizes the components of inventories (in thousands): March 27, 2016 June 28, 2015 Raw material $88,074 $86,331 Work-in-progress 102,320 93,424 Finished goods 107,466 100,821 Inventories $297,860 $280,576
Summary of the Components of Other Current Liabilities	The following table summarizes the components of other current liabilities (in thousands): March 27, 2016 June 28, 2015 Accrued taxes $13,108 $13,935 Accrued professional fees 7,634 10,180 Accrued warranty 14,168 13,006 Accrued other 7,136 7,087 Other current liabilities $42,046 $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): March 27, 2016 June 28, 2015 Currency translation gain $4,629 $4,986 Net unrealized gain on available-for-sale securities 2,577 812 Accumulated other comprehensive income, net of taxes $7,206 $5,798
Summary of the Components of Non-operating Income, Net	The following table summarizes the components of non-operating income (expense), net (in thousands): Three Months Ended Nine Months Ended March 27, 2016 March 29, 2015 March 27, 2016 March 29, 2015 Foreign currency gain (loss), net $348 $776 ($4,331 ) ($1,820 ) Gain on sale of investments, net 47 107 63 883 Loss on equity method investment (790 ) (3,670 ) (13,712 ) (2,991 ) Interest income, net 1,024 1,823 3,541 7,441 Other, net 88 98 364 253 Non-operating income (expense), net $717 ($866 ) ($14,075 ) $3,766
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 Income (Loss) Three Months Ended Nine Months Ended March 27, 2016 March 29, 2015 March 27, 2016 March 29, 2015 Net unrealized gain on available-for-sale securities, net of taxes $47 $107 $63 $883 Non-operating income (expense), net 47 107 63 883 (Loss) income before income taxes 49 (23 ) 28 93 Income tax (benefit) expense ($2 ) $130 $35 $790 Net income (loss)

Investments (Tables)

Investments (Tables)	9 Months Ended
	Mar. 27, 2016
Investments, Debt and Equity Securities [Abstract]
Summary of Short-term Investments by Type	The following tables summarize short-term investments (in thousands): March 27, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Municipal bonds $188,312 $2,563 ($50 ) $190,825 Corporate bonds 163,898 1,976 (311 ) 165,563 U.S. certificates of deposit 3,500 — — 3,500 Non-U.S. certificates of deposit 145,000 — — 145,000 Total short-term investments $500,710 $4,539 ($361 ) $504,888 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 U.S. certificates of deposit — — — — 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): March 27, 2016 Less than 12 Months Greater than 12 Months Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Municipal bonds $12,447 ($35 ) $5,286 ($15 ) $17,733 ($50 ) Corporate bonds 49,798 (311 ) — — 49,798 (311 ) Total $62,245 ($346 ) $5,286 ($15 ) $67,531 ($361 ) Number of securities with an unrealized loss 37 2 39 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 March 27, 2016 were as follows (in thousands): Within One Year After One, Within Five Years After Five, Within Ten Years After Ten Years Total Municipal bonds $26,540 $130,981 $33,305 $— $190,826 Corporate bonds 25,267 104,509 35,786 — 165,562 U.S. certificates of deposit — 3,500 — — 3,500 Non-U.S. certificates of deposit 145,000 — — — 145,000 Total short-term investments $196,807 $238,990 $69,091 $— $504,888

Fair Value of Financial Instr27

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Mar. 27, 2016
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): March 27, 2016 June 28, 2015 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Cash equivalents: U.S. agency securities $— $— $— $— $— $— $— $— Non-U.S. certificates of deposit — 3,605 — 3,605 — 157 — 157 Money market funds 1,347 — — 1,347 16,457 — — 16,457 Total cash equivalents 1,347 3,605 — 4,952 16,457 157 — 16,614 Short-term investments: Municipal bonds — 190,825 — 190,825 — 194,770 — 194,770 Corporate bonds — 165,563 — 165,563 — 153,505 — 153,505 U.S. certificates of deposit — 3,500 — 3,500 — — — — Non-U.S. certificates of deposit — 145,000 — 145,000 — 225,206 — 225,206 Total short-term investments — 504,888 — 504,888 — 573,481 — 573,481 Other long-term investments: Common stock of non-U.S. corporations — 41,661 — 41,661 — 57,595 — 57,595 Total other long-term investments — 41,661 — 41,661 — 57,595 — 57,595 Total assets $1,347 $550,154 $— $551,501 $16,457 $631,233 $— $647,690

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Mar. 27, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Components of intangible assets, net	The following table presents the components of intangible assets, net (in thousands): March 27, 2016 June 28, 2015 Gross Accumulated Amortization Net Gross Accumulated Amortization Net Intangible assets with finite lives: Customer relationships $141,420 ($76,871 ) $64,549 $136,920 ($72,063 ) $64,857 Developed technology 174,163 (106,399 ) 67,764 162,760 (91,562 ) 71,198 In-process research and development 7,565 (270 ) 7,295 — — — Non-compete agreements 10,475 (9,485 ) 990 10,244 (7,958 ) 2,286 Trade names, finite-lived 520 (520 ) — 520 (520 ) — Patent and licensing rights 153,462 (63,821 ) 89,641 150,038 (57,330 ) 92,708 Total intangible assets with finite lives 487,605 (257,366 ) 230,239 460,482 (229,433 ) 231,049 Trade names, indefinite-lived 79,680 79,680 79,680 79,680 Total intangible assets $567,285 ($257,366 ) $309,919 $540,162 ($229,433 ) $310,729
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) $9,929 June 25, 2017 37,836 June 24, 2018 36,605 June 30, 2019 23,878 June 28, 2020 18,732 Thereafter 103,259 Total future amortization expense $230,239

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Mar. 27, 2016
Earnings Per Share [Abstract]
Basic Earnings Per Share Computation	The following table presents the computation of basic earnings (loss) per share (in thousands, except per share amounts): Three Months Ended Nine Months Ended March 27, March 29, March 27, March 29, Net income (loss) $152 $476 ($10,895 ) $23,408 Weighted average common shares 100,606 110,662 102,157 115,177 Basic earnings (loss) per share $— $— ($0.11 ) $0.20
Diluted Earnings Per Share Computation	The following computation reconciles the differences between the basic and diluted earnings (loss) per share presentations (in thousands, except per share amounts): Three Months Ended Nine Months Ended March 27, March 29, March 27, March 29, Net income (loss) $152 $476 ($10,895 ) $23,408 Weighted average common shares - basic 100,606 110,662 102,157 115,177 Dilutive effect of stock options, nonvested shares and Employee Stock Purchase Plan purchase rights 615 928 — 1,127 Weighted average common shares - diluted 101,221 111,590 102,157 116,304 Diluted earnings (loss) per share $— $— ($0.11 ) $0.20

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Mar. 27, 2016
Share-based Compensation [Abstract]
Summary of Outstanding Option Awards	The following table summarizes stock option awards outstanding as of March 27, 2016 and changes during the nine 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 1,969 $26.13 Exercised (250 ) $25.30 Forfeited or expired (976 ) $43.62 Outstanding at March 27, 2016 11,457 $40.53
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 March 27, 2016 , and changes during the nine 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 1,179 $26.10 Vested (348 ) $45.00 Forfeited (142 ) $41.83 Nonvested at March 27, 2016 1,615 $31.75
Summary of Total Stock-Based Compensation Expense	Total stock-based compensation expense was as follows (in thousands): Three Months Ended Nine Months Ended March 27, March 29, March 27, March 29, Income Statement Classification: Cost of revenue, net $3,078 $3,158 $9,226 $9,511 Research and development 3,694 4,212 10,554 12,795 Sales, general and administrative 8,084 8,694 24,538 26,954 Total stock-based compensation expense $14,856 $16,064 $44,318 $49,260

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Mar. 27, 2016
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 13,105 Recall costs accrued in current period 423 Expenditures (12,069 ) Balance at March 27, 2016 $15,427

Reportable Segments (Tables)

Reportable Segments (Tables)	9 Months Ended
	Mar. 27, 2016
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 Nine Months Ended March 27, March 29, March 27, March 29, Revenue: Lighting Products revenue $187,714 $224,109 $690,715 $677,363 LED Products revenue 150,189 154,384 451,759 479,851 Power and RF Products revenue 29,016 31,026 85,740 93,134 Total revenue $366,919 $409,519 $1,228,214 $1,250,348 Gross Profit and Gross Margin: Lighting Products gross profit $48,808 $58,315 $190,531 $178,608 Lighting Products gross margin 26.0 % 26.0 % 27.6 % 26.4 % LED Products gross profit 52,102 55,358 156,489 182,406 LED Products gross margin 34.7 % 35.9 % 34.6 % 38.0 % Power and RF Products gross profit 13,477 16,484 42,146 51,601 Power and RF Products gross margin 46.4 % 53.1 % 49.2 % 55.4 % Total segment gross profit 114,387 130,157 389,166 412,615 Unallocated costs (5,354 ) (5,009 ) (15,115 ) (15,386 ) Consolidated gross profit $109,033 $125,148 $374,051 $397,229 Consolidated gross margin 29.7 % 30.6 % 30.5 % 31.8 % Inventories for each of the Company's segments were as follows (in thousands): March 27, June 28, Lighting Products $168,347 $150,755 LED Products 107,480 114,203 Power and RF Products 18,102 11,536 Total segment inventories 293,929 276,494 Unallocated inventories 3,931 4,082 Consolidated inventories $297,860 $280,576

Costs Associated with LED Bus33

Costs Associated with LED Business Restructuring Costs Associated with LED Business Restructuring (Tables)	9 Months Ended
	Mar. 27, 2016
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs [Table Text Block]	The following table summarizes the actual and planned charges incurred through March 27, 2016 (in thousands): Capacity and Overhead Cost Reductions Estimated charges Amounts incurred during the nine months ended March 27, 2016 Cumulative amounts incurred through March 27, 2016 Affected Line Item in the Consolidated Statements of Income (Loss) Loss on disposal or impairment of long-lived assets $57,651 $15,519 $57,651 Loss on disposal or impairment of long-lived assets Severance expense 2,283 264 2,283 Sales, general and administrative expenses Lease termination and facility consolidation costs 4,762 2,933 4,762 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 $102,266 $18,716 $102,266
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 28, 2015 $2,019 Severance expense 264 Severance payments (2,283 ) Severance liability at March 27, 2016 $—

Basis of Presentation and New34

Basis of Presentation and New Accounting Standards Narrative (Details)	3 Months Ended
	Mar. 27, 2016reportable_segments
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of Reportable Segments	3

Basis of Presentation and New35

Basis of Presentation and New Accounting Standards Revision of Prior Period Financial Statements (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended		42 Months Ended
	Mar. 27, 2016	Mar. 29, 2015	Mar. 27, 2016	Mar. 29, 2015	Dec. 27, 2015	Jun. 28, 2015
Revision of Prior Period Financial Statement [Line Items]
Intangible assets, net	$ 309,919		$ 309,919			$ 310,729
Deferred income taxes	28,578		28,578			8,951
Total assets	2,814,145		2,814,145			2,948,033
Deferred income taxes	1,270		1,270			10,211
Total long-term liabilities	242,686		242,686			231,295
Retained earnings	10,028		10,028			170,469
Total shareholders' equity	2,353,457		2,353,457			2,461,952
Total liabilities and shareholders' equity	2,814,145		2,814,145			2,948,033
Gross profit	109,033	$ 125,148	374,051	$ 397,229
Operating (loss) income	(4,541)	1,257	(5,680)	22,381
(Loss) income before income taxes	(3,824)	391	(19,755)	26,147
Income tax (benefit) expense	(3,976)	(85)	(8,860)	2,739
Net income (loss)	$ 152	$ 476	$ (10,895)	$ 23,408
Basic	$ 0	$ 0	$ (0.11)	$ 0.20
Diluted	$ 0	$ 0	$ (0.11)	$ 0.20
As Previously Reported
Revision of Prior Period Financial Statement [Line Items]
Intangible assets, net						317,154
Deferred income taxes						8,893
Total assets						2,954,400
Deferred income taxes						12,174
Total long-term liabilities						233,258
Retained earnings						174,873
Total shareholders' equity						2,466,356
Total liabilities and shareholders' equity						2,954,400
Cost of revenue, net		$ 284,111		$ 852,341
Gross profit		125,408		398,007
Operating (loss) income		1,517		23,159
(Loss) income before income taxes		651		26,925
Income tax (benefit) expense		0		2,993
Net income (loss)		$ 651		$ 23,932
Basic		$ 0.01		$ 0.21
Diluted		$ 0.01		$ 0.21
As Revised
Revision of Prior Period Financial Statement [Line Items]
Intangible assets, net						310,729
Deferred income taxes						8,951
Total assets						2,948,033
Deferred income taxes						10,211
Total long-term liabilities						231,295
Retained earnings						170,469
Total shareholders' equity						2,461,952
Total liabilities and shareholders' equity						2,948,033
Cost of revenue, net		$ 284,371		$ 853,119
Gross profit		125,148		397,229
Operating (loss) income		1,257		22,381
(Loss) income before income taxes		391		26,147
Income tax (benefit) expense		(85)		2,739
Net income (loss)		$ 476		$ 23,408
Basic		$ 0		$ 0.20
Diluted		$ 0		$ 0.20
Revision Adjustments
Revision of Prior Period Financial Statement [Line Items]
Intangible assets, net						(6,425)
Deferred income taxes						58
Total assets						(6,367)
Deferred income taxes						(1,963)
Total long-term liabilities						(1,963)
Retained earnings						(4,404)
Total shareholders' equity						(4,404)
Total liabilities and shareholders' equity						$ (6,367)
Cost of revenue, net		$ 260		$ 778
Gross profit		(260)		(778)
Operating (loss) income		(260)		(778)
(Loss) income before income taxes		(260)		(778)	$ 6,800
Income tax (benefit) expense		(85)		(254)
Net income (loss)		$ (175)		$ (524)
Basic		$ (0.01)		$ (0.01)
Diluted		$ (0.01)		$ (0.01)

Acquisition Acquisition (Detail

Acquisition Acquisition (Details) $ in Thousands	9 Months Ended
	Mar. 27, 2016USD ($)
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	935
Other assets	270
Finite-lived intangible assets	23,739
Accounts payable	55
Accrued expenses and liabilities	1,911
Other long-term liabilities	9,291
Net assets acquired	18,603
Patents
Purchase Price Allocation [Line Items]
Finite-lived intangible assets	$ 40
Estimated Life in Years	20 years
Customer relationships
Purchase Price Allocation [Line Items]
Finite-lived intangible assets	$ 4,500
Estimated Life in Years	4 years
Developed technology
Purchase Price Allocation [Line Items]
Finite-lived intangible assets	$ 11,403
Estimated Life in Years	10 years
In-process research and development
Purchase Price Allocation [Line Items]
Finite-lived intangible assets	$ 7,565
Estimated Life in Years	7 years
Non-compete agreements
Purchase Price Allocation [Line Items]
Finite-lived intangible assets	$ 231
Estimated Life in Years	3 years
Total tangible assets
Purchase Price Allocation [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	$ 3,638
Goodwill
Purchase Price Allocation [Line Items]
Goodwill	2,483
Total intangible assets
Purchase Price Allocation [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	26,222
Total liabilities assumed
Purchase Price Allocation [Line Items]
Total liabilities assumed	$ 11,257

Financial Statement Details (Su

Financial Statement Details (Summary of the Components of Accounts Receivable, Net) (Details) - USD ($) $ in Thousands	Mar. 27, 2016	Jun. 28, 2015
Accounts Receivable, Net, Current [Abstract]
Accounts receivable, gross	$ 233,083	$ 249,192
Allowance for bad debts	(5,645)	(4,941)
Accounts receivable, net	178,606	186,157
Allowance for sales returns, discounts and other incentives [Member]
Accounts Receivable, Net, Current [Abstract]
Allowance for sales returns, discounts and other incentives	(48,832)	(58,094)
Billed trade receivables [Member]
Accounts Receivable, Net, Current [Abstract]
Accounts receivable, gross	230,302	246,969
Unbilled contract receivables [Member]
Accounts Receivable, Net, Current [Abstract]
Accounts receivable, gross	$ 2,781	$ 2,223

Financial Statement Details (38

Financial Statement Details (Summary of the Components of Inventories) (Details) - USD ($) $ in Thousands	Mar. 27, 2016	Jun. 28, 2015
Inventory, Net [Abstract]
Raw material	$ 88,074	$ 86,331
Work-in-progress	102,320	93,424
Finished goods	107,466	100,821
Inventories	$ 297,860	$ 280,576

Financial Statement Details (39

Financial Statement Details (Summary of the Components of Other Current Liabilities) (Details) - USD ($) $ in Thousands	Mar. 27, 2016	Jun. 28, 2015
Accrued Liabilities, Current [Abstract]
Accrued taxes	$ 13,108	$ 13,935
Accrued professional fees	7,634	10,180
Accrued warranty	14,168	13,006
Accrued other	7,136	7,087
Other current liabilities	$ 42,046	$ 44,208

Financial Statement Details (40

Financial Statement Details (Summary of the Components of Accumulated Other Comprehensive Income, Net of Taxes) (Details) - USD ($) $ in Thousands	Mar. 27, 2016	Jun. 28, 2015
Financial Statement Details [Abstract]
Currency translation gain	$ 4,629	$ 4,986
Net unrealized gain on available-for-sale securities	2,577	812
Accumulated other comprehensive income, net of taxes	$ 7,206	$ 5,798

Financial Statement Details (41

Financial Statement Details (Summary of the Components of Non-operating Income, Net) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 27, 2016	Mar. 29, 2015	Mar. 27, 2016	Mar. 29, 2015
Other Income and Expenses [Abstract]
Foreign currency gain (loss), net	$ 348	$ 776	$ (4,331)	$ (1,820)
Gain on sale of investments, net	47	107	63	883
Loss on equity method investment	(790)	(3,670)	(13,712)	(2,991)
Interest income, net	1,024	1,823	3,541	7,441
Other, net	88	98	364	253
Non-operating income (expense), net	$ 717	$ (866)	$ (14,075)	$ 3,766

Financial Statement Details (42

Financial Statement Details (Summary of the Amounts Reclassified Out of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 27, 2016	Mar. 29, 2015	Mar. 27, 2016	Mar. 29, 2015
Reclassification Out of Accumulated Other Comprehensive Income [Line Items]
Non-operating income (expense), net	$ 717	$ (866)	$ (14,075)	$ 3,766
(Loss) income before income taxes	(3,824)	391	(19,755)	26,147
Income tax (benefit) expense	(3,976)	(85)	(8,860)	2,739
Net income (loss)	152	476	(10,895)	23,408
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 income (expense), net	47	107	63	883
(Loss) income before income taxes	47	107	63	883
Income tax (benefit) expense	49	(23)	28	93
Net income (loss)	$ (2)	$ 130	$ 35	$ 790

Investments (Summary of Short-t

Investments (Summary of Short-term Investments by Type) (Details) - USD ($) $ in Thousands	Mar. 27, 2016	Jun. 28, 2015
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 500,710	$ 572,160
Gross Unrealized Gains	4,539	1,820
Gross Unrealized Losses	(361)	(499)
Estimated Fair Value	504,888	573,481
Municipal Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	188,312	194,123
Gross Unrealized Gains	2,563	988
Gross Unrealized Losses	(50)	(341)
Estimated Fair Value	190,825	194,770
Corporate Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	163,898	152,831
Gross Unrealized Gains	1,976	832
Gross Unrealized Losses	(311)	(158)
Estimated Fair Value	165,563	153,505
U.S. | Certificates of Deposit [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	3,500	0
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	3,500	0
Non-US [Member] | Certificates of Deposit [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	145,000	225,206
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	$ 145,000	$ 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	Mar. 27, 2016USD ($)	Jun. 28, 2015USD ($)
Schedule of Available-for-sale Securities [Line Items]
Fair Value, Less than 12 Months	$ 62,245	$ 99,840
Unrealized Loss, Less than 12 Months	(346)	(484)
Fair Value, Greater than 12 Months	5,286	1,812
Unrealized Loss, Greater than 12 Months	(15)	(15)
Fair Value, Total	67,531	101,652
Unrealized Loss, Total	$ (361)	$ (499)
Number of Securities with an Unrealized Loss, Less than 12 Months	37	54
Number of Securities with an Unrealized Loss, Greater than 12 Months	2	1
Number of Securities with an Unrealized Loss, Total	39	55
Municipal Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value, Less than 12 Months	$ 12,447	$ 53,204
Unrealized Loss, Less than 12 Months	(35)	(341)
Fair Value, Greater than 12 Months	5,286	0
Unrealized Loss, Greater than 12 Months	(15)	0
Fair Value, Total	17,733	53,204
Unrealized Loss, Total	(50)	(341)
Corporate Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value, Less than 12 Months	49,798	46,636
Unrealized Loss, Less than 12 Months	(311)	(143)
Fair Value, Greater than 12 Months	0	1,812
Unrealized Loss, Greater than 12 Months	0	(15)
Fair Value, Total	49,798	48,448
Unrealized Loss, Total	$ (311)	$ (158)

Investments (Contractual Maturi

Investments (Contractual Maturities of Short-term Investments by Type) (Details) - USD ($) $ in Thousands	Mar. 27, 2016	Jun. 28, 2015
Schedule of Available-for-sale Securities [Line Items]
Within One Year	$ 196,807
After One, Within Five Years	238,990
After Five, Within Ten Years	69,091
After Ten Years	0
Total	504,888	$ 573,481
Municipal Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Within One Year	26,540
After One, Within Five Years	130,981
After Five, Within Ten Years	33,305
After Ten Years	0
Total	190,826
Corporate Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Within One Year	25,267
After One, Within Five Years	104,509
After Five, Within Ten Years	35,786
After Ten Years	0
Total	165,562
U.S. | Certificates of Deposit [Member]
Schedule of Available-for-sale Securities [Line Items]
Within One Year	0
After One, Within Five Years	3,500
After Five, Within Ten Years	0
After Ten Years	0
Total	3,500
Non-US [Member] | Certificates of Deposit [Member]
Schedule of Available-for-sale Securities [Line Items]
Within One Year	145,000
After One, Within Five Years	0
After Five, Within Ten Years	0
After Ten Years	0
Total	$ 145,000

Fair Value of Financial Instr46

Fair Value of Financial Instruments (Financial Instruments Carried at Fair Value) (Details) - USD ($) $ in Thousands	Mar. 27, 2016	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	504,888	$ 573,481
Other long-term investments	41,661	57,595
Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	4,952	16,614
Short-term investments	504,888	573,481
Other long-term investments	41,661	57,595
Total assets	551,501	647,690
Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	1,347	16,457
Short-term investments	0	0
Other long-term investments	0	0
Total assets	1,347	16,457
Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	3,605	157
Short-term investments	504,888	573,481
Other long-term investments	41,661	57,595
Total assets	550,154	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	190,825	194,770
Municipal Bonds [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Short-term investments	190,825	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	190,825	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	165,563	153,505
Corporate Bonds [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Short-term investments	165,563	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	165,563	153,505
Corporate Bonds [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	41,661	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	41,661	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
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	0	0
US Government Agencies Debt Securities [Member] | Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	0	0
US Government Agencies Debt Securities [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	0	0
US Government Agencies Debt Securities [Member] | Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	0	0
Certificates of Deposit [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	3,605	157
Certificates of Deposit [Member] | Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	0	0
Certificates of Deposit [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	3,605	157
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	1,347	16,457
Money Market Funds [Member] | Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	1,347	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
U.S. | Certificates of Deposit [Member]
Assets, Fair Value Disclosure [Abstract]
Short-term investments	3,500	0
U.S. | Certificates of Deposit [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Short-term investments	3,500	0
U.S. | Certificates of Deposit [Member] | Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Short-term investments	0	0
U.S. | Certificates of Deposit [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Short-term investments	3,500	0
U.S. | Certificates of Deposit [Member] | Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Short-term investments	0	0
Non-US [Member] | Certificates of Deposit [Member]
Assets, Fair Value Disclosure [Abstract]
Short-term investments	145,000	225,206
Non-US [Member] | Certificates of Deposit [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Short-term investments	145,000	225,206
Non-US [Member] | Certificates of Deposit [Member] | Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Short-term investments	0	0
Non-US [Member] | Certificates of Deposit [Member] | Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Short-term investments	145,000	225,206
Non-US [Member] | Certificates of Deposit [Member] | Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Assets, Fair Value Disclosure [Abstract]
Short-term investments	$ 0	$ 0

Intangible Assets (Components o

Intangible Assets (Components of intangible assets, net) (Details) - USD ($) $ in Thousands	Mar. 27, 2016	Jun. 28, 2015
Intangible Assets [Line Items]
Finite-lived intangible assets, gross	$ 487,605	$ 460,482
Finite-lived intangible assets, accumulated amortization	(257,366)	(229,433)
Finite-lived intangible assets, net	230,239	231,049
Trade names, indefinite-lived	79,680	79,680
Intangible Assets, Gross (Excluding Goodwill)	567,285	540,162
Intangible assets, net	309,919	310,729
Customer relationships
Intangible Assets [Line Items]
Finite-lived intangible assets, gross	141,420	136,920
Finite-lived intangible assets, accumulated amortization	(76,871)	(72,063)
Finite-lived intangible assets, net	64,549	64,857
Developed technology
Intangible Assets [Line Items]
Finite-lived intangible assets, gross	174,163	162,760
Finite-lived intangible assets, accumulated amortization	(106,399)	(91,562)
Finite-lived intangible assets, net	67,764	71,198
In-process research and development
Intangible Assets [Line Items]
Finite-lived intangible assets, gross	7,565	0
Finite-lived intangible assets, accumulated amortization	(270)	0
Finite-lived intangible assets, net	7,295	0
Non-compete agreements
Intangible Assets [Line Items]
Finite-lived intangible assets, gross	10,475	10,244
Finite-lived intangible assets, accumulated amortization	(9,485)	(7,958)
Finite-lived intangible assets, net	990	2,286
Trade names, finite-lived
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
Intangible Assets [Line Items]
Finite-lived intangible assets, gross	153,462	150,038
Finite-lived intangible assets, accumulated amortization	(63,821)	(57,330)
Finite-lived intangible assets, net	$ 89,641	$ 92,708

Intangible Assets Intangible As

Intangible Assets Intangible Assets (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 27, 2016	Mar. 29, 2015	Mar. 27, 2016	Mar. 29, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, Acquired During Period			$ 2.5
Amortization of Intangible Assets	$ 10.2	$ 9.3	$ 29.9	$ 27.7

Intangible Assets Intangible 49

Intangible Assets Intangible Assets (Schedule of future amortization expense of finite-lived intangible assets) (Details) - USD ($) $ in Thousands	Mar. 27, 2016	Jun. 28, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
June 26, 2016 (remainder of fiscal 2016)	$ 9,929
June 25, 2017	37,836
June 24, 2018	36,605
June 30, 2019	23,878
June 28, 2020	18,732
Thereafter	103,259
Finite-lived intangible assets, net	$ 230,239	$ 231,049

Long-term Debt (Narrative) (Det

Long-term Debt (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 27, 2016	Mar. 27, 2016	Jun. 28, 2015
Long-term Debt, Unclassified [Abstract]
Line of Credit Facility, Maximum Borrowing Capacity	$ 500,000	$ 500,000
Long-term debt	225,000	225,000	$ 200,000
Line of Credit Facility, Remaining Borrowing Capacity	$ 275,000	$ 275,000
Long-term Debt, Average Interest Rate	1.21%
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.09%	0.09%

Shareholders' Equity (Narrative

Shareholders' Equity (Narrative) (Details) - Common Stock [Member] shares in Millions, $ in Millions	9 Months Ended
	Mar. 27, 2016USD ($)shares
Class of Stock [Line Items]
Stock Repurchase Program, Authorized Amount	$ 500
Repurchased share number | shares	5.8
Repurchased share value	$ 149.6

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		9 Months Ended
	Mar. 27, 2016	Mar. 29, 2015	Mar. 27, 2016	Mar. 29, 2015
Earnings Per Share, Basic [Abstract]
Net income (loss)	$ 152	$ 476	$ (10,895)	$ 23,408
Weighted average common shares - basic	100,606	110,662	102,157	115,177
Basic earnings (loss) per share	$ 0	$ 0	$ (0.11)	$ 0.20

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		9 Months Ended
	Mar. 27, 2016	Mar. 29, 2015	Mar. 27, 2016	Mar. 29, 2015
Earnings Per Share, Diluted [Abstract]
Net income (loss)	$ 152	$ 476	$ (10,895)	$ 23,408
Weighted average common shares - basic	100,606	110,662	102,157	115,177
Dilutive effect of stock options, nonvested shares and Employee Stock Purchase Plan purchase rights	615	928	0	1,127
Weighted average common shares - diluted	101,221	111,590	102,157	116,304
Diluted earnings (loss) per share	$ 0	$ 0	$ (0.11)	$ 0.20

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Mar. 27, 2016	Mar. 29, 2015	Mar. 27, 2016	Mar. 29, 2015
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	10.2	7.7	11.5	6.8

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details)	9 Months Ended
	Mar. 27, 2016plans
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	9 Months Ended
	Mar. 27, 2016$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding number of shares at beginning of period | shares	10,714
Granted, number of shares | shares	1,969
Exercised, number of shares | shares	(250)
Forfeited or expired, number of shares | shares	(976)
Outstanding number of shares at end of period | shares	11,457
Outstanding weighted-average exercise price at beginning of period | $ / shares	$ 43.10
Granted, weighted-average exercise price | $ / shares	26.13
Exercised, weighted-average exercise price | $ / shares	25.30
Forfeited or expired, weighted-average exercise price | $ / shares	43.62
Outstanding weighted-average exercised price at end of period | $ / shares	$ 40.53

Stock-Based Compensation (Sum57

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	9 Months Ended
	Mar. 27, 2016$ / 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 | shares	926
Granted, Number of RSAs/RSUs | shares	1,179
Vested, number of RSAs/RSUs | shares	(348)
Forfeited, number of RSAs/RSUs | shares	(142)
Nonvested, Number of RSAs/RSUs at end of period | shares	1,615
Nonvested, weighted-average grant-date fair value at beginning of period | $ / shares	$ 45.47
Granted, weighted-average grant-date fair value | $ / shares	26.10
Vested, weighted-average grant-date fair value | $ / shares	45
Forfeited, weighted-average grant-date fair value | $ / shares	41.83
Nonvested, weighted-average grant-date fair value at end of period | $ / shares	$ 31.75

Stock-Based Compensation (Total

Stock-Based Compensation (Total Stock-Based Compensation Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 27, 2016	Mar. 29, 2015	Mar. 27, 2016	Mar. 29, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 14,856	$ 16,064	$ 44,318	$ 49,260
Cost of revenue, net [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	3,078	3,158	9,226	9,511
Research and development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	3,694	4,212	10,554	12,795
Selling, general and administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 8,084	$ 8,694	$ 24,538	$ 26,954

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 27, 2016	Sep. 27, 2015	Mar. 27, 2016	Jun. 28, 2015
Income Tax Disclosure [Abstract]
U.S. statutory tax rate			35.00%
Unrecognized tax benefits balance	$ 18.3		$ 18.3	$ 17.8
Unrecognized Tax Benefits, Period Increase			0.6
Unrecognized Tax Benefits, Period Decrease			0.1
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	18.3		18.3
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit	4.3		$ 4.3
Expiration of Tax Credit Carryforward	0.6	$ 2.3
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	$ 0.4	$ 1.5

Commitments and Contingencies60

Commitments and Contingencies (Warranties) (Details) $ in Thousands	9 Months Ended
	Mar. 27, 2016USD ($)
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Warranty accrual, beginning balance	$ 13,968
Warranties accrued in current period	13,105
Recall costs accrued in current period	423
Expenditures	(12,069)
Warranty accrual, ending balance	15,427
Product Warranty Liability, Long-Term	$ 1,300
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		9 Months Ended
	Mar. 27, 2016	Mar. 29, 2015	Mar. 27, 2016	Mar. 29, 2015
Segment Reporting Information [Line Items]
Revenue, net	$ 366,919	$ 409,519	$ 1,228,214	$ 1,250,348
Gross profit	$ 109,033	$ 125,148	$ 374,051	$ 397,229
Gross margin	29.70%	30.60%	30.50%	31.80%
Lighting Products [Member]
Segment Reporting Information [Line Items]
Revenue, net	$ 187,714	$ 224,109	$ 690,715	$ 677,363
Gross profit	$ 48,808	$ 58,315	$ 190,531	$ 178,608
Gross margin	26.00%	26.00%	27.60%	26.40%
LED Products [Member]
Segment Reporting Information [Line Items]
Revenue, net	$ 150,189	$ 154,384	$ 451,759	$ 479,851
Gross profit	$ 52,102	$ 55,358	$ 156,489	$ 182,406
Gross margin	34.70%	35.90%	34.60%	38.00%
Power and RF Products [Member]
Segment Reporting Information [Line Items]
Revenue, net	$ 29,016	$ 31,026	$ 85,740	$ 93,134
Gross profit	$ 13,477	$ 16,484	$ 42,146	$ 51,601
Gross margin	46.40%	53.10%	49.20%	55.40%
Total segment gross profit [Member]
Segment Reporting Information [Line Items]
Gross profit	$ 114,387	$ 130,157	$ 389,166	$ 412,615
Unallocated Costs [Member]
Segment Reporting Information [Line Items]
Gross profit	$ (5,354)	$ (5,009)	$ (15,115)	$ (15,386)

Reportable Segments Schedule of

Reportable Segments Schedule of Inventory by Reportable Segment (Details) - USD ($) $ in Thousands	Mar. 27, 2016	Jun. 28, 2015
Segment Reporting Information [Line Items]
Inventories	$ 297,860	$ 280,576
Lighting Products [Member]
Segment Reporting Information [Line Items]
Inventories	168,347	150,755
LED Products [Member]
Segment Reporting Information [Line Items]
Inventories	107,480	114,203
Power and RF Products [Member]
Segment Reporting Information [Line Items]
Inventories	18,102	11,536
Total segment inventories [Member]
Segment Reporting Information [Line Items]
Inventories	293,929	276,494
Unallocated inventories [Member]
Segment Reporting Information [Line Items]
Inventories	$ 3,931	$ 4,082

Costs Associated with LED Bus63

Costs Associated with LED Business Restructuring Costs Associated with LED Business Restructuring (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 27, 2016USD ($)	Mar. 27, 2016USD ($)
Restructuring Cost and Reserve [Line Items]
Estimated charges	$ 102,266	$ 102,266
Restructuring and related cost, incurred cost		18,716
Cumulative amounts incurred through March 27, 2016	102,266	102,266
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	57,651	57,651
Restructuring and related cost, incurred cost		15,519
Cumulative amounts incurred through March 27, 2016	57,651	57,651
Severance expense | Sales, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Estimated charges	2,283	2,283
Restructuring and related cost, incurred cost		264
Cumulative amounts incurred through March 27, 2016	2,283	2,283
Lease termination and facility consolidation costs | Sales, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Estimated charges	4,762	4,762
Restructuring and related cost, incurred cost		2,933
Cumulative amounts incurred through March 27, 2016	4,762	4,762
Increase in channel inventory reserves | Revenue, net
Restructuring Cost and Reserve [Line Items]
Estimated charges	26,479	26,479
Restructuring and related cost, incurred cost		0
Cumulative amounts incurred through March 27, 2016	26,479	26,479
Increase in inventory reserves | Cost of revenue, net
Restructuring Cost and Reserve [Line Items]
Estimated charges	11,091	11,091
Restructuring and related cost, incurred cost		0
Cumulative amounts incurred through March 27, 2016	11,091	$ 11,091
Long Lived Assets Held-for-sale, Name [Domain]
Restructuring Cost and Reserve [Line Items]
Gain (Loss) on Disposition of Assets	$ 1,100

Costs Associated with LED Bus64

Costs Associated with LED Business Restructuring Schedule of Severance Liability (Details) - Employee Severance [Member] - USD ($) $ in Thousands	9 Months Ended
	Mar. 27, 2016	Jun. 28, 2015
Restructuring Cost and Reserve [Line Items]
Severance liability	$ 0	$ 2,019
Severance expense	264
Severance payments	$ (2,283)