Wolfspeed (WOLF) 10-Q 25 Apr 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Mar. 25, 2018	Apr. 20, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	CREE INC
Entity Central Index Key	895,419
Current Fiscal Year End Date	--06-24
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 25, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		100,509,216
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. 25, 2018	Jun. 25, 2017
Current assets:
Cash and cash equivalents	$ 101,226	$ 132,597
Short-term investments	300,239	478,341
Total cash, cash equivalents and short-term investments	401,465	610,938
Accounts receivable, net	143,337	148,392
Income tax receivable	7,674	8,040
Inventories	309,858	284,385
Prepaid expenses	22,597	23,305
Other current assets	17,666	23,390
Current assets held for sale	6,913	2,180
Total current assets	909,510	1,100,630
Property and equipment, net	641,400	581,263
Goodwill	617,651	618,828
Intangible assets, net	400,836	274,315
Other long-term investments	60,419	50,366
Deferred income taxes	10,527	11,763
Other assets	12,295	12,702
Total assets	2,652,638	2,649,867
Current liabilities:
Accounts payable, trade	156,558	133,185
Accrued salaries and wages	50,821	41,860
Other Liabilities, Current	35,921	36,978
Total current liabilities	243,300	212,023
Long-term liabilities:
Long-term debt	316,000	145,000
Deferred income taxes	0	49,860
Other long-term liabilities	26,467	20,179
Total long-term liabilities	342,467	215,039
Commitments and contingencies (Note 13)
Shareholders' equity:
Preferred stock, par value $0.01; 3,000 shares authorized at March 25, 2018 and June 25, 2017; none issued and outstanding	0	0
Common stock, par value $0.00125; 200,000 shares authorized at March 25, 2018 and June 25, 2017; 100,487 issued and outstanding at March 25, 2018 and 97,674 shares issued and outstanding at June 25, 2017	124	121
Additional paid-in-capital	2,509,296	2,419,517
Accumulated other comprehensive income, net of taxes	1,946	5,909
Accumulated deficit	(449,454)	(202,742)
Total shareholders’ equity	2,061,912	2,222,805
Stockholders' Equity Attributable to Noncontrolling Interest	4,959	0
Total liabilities and equity	$ 2,652,638	$ 2,649,867

Consolidated Balance Sheets Con

Consolidated Balance Sheets Consolidation Balance Sheets (Parenthetical) - $ / shares shares in Thousands	Mar. 25, 2018	Jun. 25, 2017
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	100,487	100,829
Common stock, shares outstanding	100,487	100,829

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 25, 2018	Mar. 26, 2017	Mar. 25, 2018	Mar. 26, 2017
Income Statement [Abstract]
Revenue, net	$ 355,958	$ 341,505	$ 1,084,226	$ 1,114,064
Cost of revenue, net	256,902	255,429	792,235	777,490
Gross profit	99,056	86,076	291,991	336,574
Operating expenses:
Research and development	40,239	41,451	121,874	119,292
Sales, general and administrative	70,256	68,165	201,296	213,136
Amortization or impairment of acquisition-related intangibles	7,453	8,362	21,037	20,707
Loss on disposal or impairment of long-lived assets	1,716	500	8,803	1,541
Goodwill impairment charges	247,455	0	247,455	0
Loss on Contract Termination	0	(12,500)	0	(12,500)
Total operating expenses	367,119	105,978	600,465	342,176
Operating loss	(268,063)	(19,902)	(308,474)	(5,602)
Non-operating (expense) income, net	(9,651)	9,865	16,011	4,946
Loss before income taxes	(277,714)	(10,037)	(292,463)	(656)
Income tax (benefit) expense	(37,181)	88,976	(45,810)	91,574
Net Loss, Including Portion Attributable to Noncontrolling Interest	(240,533)	(99,013)	(246,653)	(92,230)
Net income attributable to noncontrolling interest	44	0	59	0
Net loss	$ (240,577)	$ (99,013)	$ (246,712)	$ (92,230)
Loss per share:
Basic loss per share	$ (2.40)	$ (1.02)	$ (2.49)	$ (0.93)
Diluted loss per share	$ (2.40)	$ (1.02)	$ (2.49)	$ (0.93)
Weighted average shares used in per share calculation:
Basic	100,140	97,346	99,046	98,791
Diluted	100,140	97,346	99,046	98,791

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 25, 2018	Mar. 26, 2017	Mar. 25, 2018	Mar. 26, 2017
Statement of Comprehensive Income [Abstract]
Net Income (Loss) Attributable to Parent	$ (240,577)	$ (99,013)	$ (246,712)	$ (92,230)
Currency translation (loss) gain	(788)	550	(2,006)	(765)
Net unrealized gain (loss) on available-for-sale securities, net of tax benefit of $0 and $1,948, $0 and ($4,723) respectively	2,269	(608)	5,969	(4,723)
Other comprehensive gain (loss):	1,481	(58)	3,963	(5,488)
Comprehensive loss	$ (239,096)	$ (99,071)	$ (242,749)	$ (97,718)

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. 25, 2018	Mar. 26, 2017	Mar. 25, 2018	Mar. 26, 2017
Statement of Comprehensive Income [Abstract]
Tax (expense) benefit on net unrealized gain (loss) on available-for-sale securities	$ 0	$ 1,948	$ 0	$ (4,723)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Mar. 25, 2018	Mar. 26, 2017
Cash flows from operating activities:
Net Loss, Including Portion Attributable to Noncontrolling Interest	$ (246,653)	$ (92,230)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	113,244	113,459
Stock-based compensation	33,319	38,417
Goodwill impairment charges	247,455	0
Excess tax benefit from stock-based payment arrangements	0	(1)
Loss on disposal or impairment of long-lived assets	8,803	1,345
Amortization of premium/discount on investments	3,943	4,150
Loss on equity investment	(7,510)	(144)
Foreign exchange gain on equity investment	(2,543)	(2,436)
Deferred income taxes	(49,875)	71,342
Changes in operating assets and liabilities:
Accounts receivable, net	5,728	16,080
Inventories	(4,640)	12,064
Prepaid expenses and other assets	2,041	11,478
Accounts payable, trade	15,328	(10,891)
Accrued salaries and wages and other liabilities	6,783	521
Net cash provided by operating activities	125,423	163,154
Cash flows from investing activities:
Purchases of property and equipment	(128,433)	(56,895)
Purchases of patent and licensing rights	(7,913)	(8,876)
Proceeds from sale of property and equipment	538	1,111
Purchases of short-term investments	(174,623)	(169,414)
Proceeds from maturities of short-term investments	166,771	112,307
Proceeds from sale of short-term investments	176,981	13,613
Purchase of acquired business, net of cash acquired	(427,120)	0
Net cash used in investing activities	(393,799)	(108,154)
Cash flows from financing activities:
Proceeds from issuing shares to noncontrolling interest	4,900	0
Payment of acquisition-related contingent consideration	(1,850)	(2,775)
Proceeds from long-term debt borrowings	555,000	373,000
Payments on long-term debt borrowings	(384,000)	(380,000)
Net proceeds from issuance of common stock	62,240	10,160
Excess tax benefit from stock-based payment arrangements	0	1
Repurchases of common stock	0	(104,014)
Net cash provided by (used in) financing activities	236,290	(103,628)
Effects of foreign exchange changes on cash and cash equivalents	715	(432)
Net decrease in cash and cash equivalents	(31,371)	(49,060)
Cash and cash equivalents:
Beginning of period	132,597	166,154
End of period	101,226
Accrued property and equipment	$ 19,275	$ 7,243

Basis of Presentation and New A

Basis of Presentation and New Accounting Standards	9 Months Ended
	Mar. 25, 2018
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 an innovator of wide bandgap semiconductor products for power and radio-frequency (RF) applications, lighting-class light emitting diode (LED) products, and lighting products. The Company's products are targeted for applications such as transportation, electronic signs and signals, power supplies, inverters, wireless systems, indoor and outdoor lighting, and video displays. The Company's Wolfspeed segment's products consists of silicon carbide (SiC) and gallium nitride (GaN) materials, power devices and RF devices based on silicon (Si) and wide bandgap semiconductor materials. The Company's materials products and power devices are used in solar, electric vehicles, motor drives, power supplies and transportation applications. The Company's materials products and RF devices are used in military communications, radar, satellite and telecommunication applications. The Company's LED Products segment’s products consist of LED chips and LED components. The Company's LED products enable its customers to develop and market LED-based products for lighting, video screens, automotive and other industrial applications. The Company's Lighting Products segment’s products primarily consist of LED lighting systems and lamps. The Company designs, manufactures and sells lighting fixtures and lamps for the commercial, industrial and consumer markets. The majority of the Company's products are manufactured at its production facilities located in North Carolina, Wisconsin, California 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, Arizona, Arkansas, California, Wisconsin, India, Italy 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: • Wolfspeed • LED Products • Lighting Products For financial results by reportable segment, please refer to Note 14, "Reportable Segments." Basis of Presentation The consolidated balance sheet at March 25, 2018 , the consolidated statements of loss for the three and nine months ended March 25, 2018 and March 26, 2017 , the consolidated statements of comprehensive loss for the three and nine months ended March 25, 2018 and March 26, 2017 , and the consolidated statements of cash flows for the nine months ended March 25, 2018 and March 26, 2017 (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, comprehensive loss and cash flows at March 25, 2018 , and for all periods presented, have been made. All intercompany accounts and transactions have been eliminated. The consolidated balance sheet at June 25, 2017 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 25, 2017 (fiscal 2017 ). The results of operations for the three and nine months ended March 25, 2018 are not necessarily indicative of the operating results that may be attained for the entire fiscal year ending June 24, 2018 (fiscal 2018 ). 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 2017 amounts related to the Wolfspeed business in the accompanying consolidated financial statements have been reclassified to continuing operations to conform to the fiscal 2018 presentation. These reclassifications had no effect on previously reported consolidated net income or shareholders’ equity. Recently Issued Accounting Pronouncements Revenue from Contracts with Customers In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09: Revenue from Contracts with Customers (Topic 606). The 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 Company’s evaluation of ASU 2014-09 is ongoing and not complete; however, the Company anticipates the primary changes to revenue recognition to be related to certain patent license arrangements. The FASB has issued and may issue in the future, interpretive guidance, which may cause our evaluation to change. The effective date will be the first quarter of the Company's fiscal year ending June 30, 2019 and the Company currently expects to use the modified retrospective method. 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): Improvements to Employee Share-Based Payment Accounting. 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 grants an entity the right to withhold up to the employee’s maximum statutory tax rate in the applicable jurisdiction without triggering liability accounting. The effective date was the first quarter of the Company's fiscal year ending June 24, 2018. The Company's adoption of this ASU did not have a material impact on its consolidated financial statements. All excess tax benefits and deficiencies in the current and future periods will be recognized as income tax expense in the Company’s income statement in the reporting period in which they occur. This could result in increased volatility in the Company’s effective tax rate. For the nine months ended March 25, 2018 , the Company did not recognize a discrete event related to the excess tax benefits from stock-based compensation due to a full U.S. valuation allowance on the impact. The Company plans to continue its existing practice of estimating expected forfeitures in determining compensation cost. Goodwill Impairment Testing In January 2017, the FASB issued ASU No. 2017-04: Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. The ASU simplifies the manner in which an entity is required to test for goodwill impairment by eliminating Step 2 from the goodwill impairment test. Additionally, the ASU removes the requirement for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails such qualitative test, to continue to perform Step 1 of the goodwill impairment test. The Company early adopted this standard in the third quarter of fiscal year ending June 24, 2018. Based on the updating of the Company's long range business strategy that was announced February 26, 2018, the Company determined there was a triggering event and performed an impairment test in connection with the preparation of its financial statements for the period ended March 25, 2018. The Company derived the Lighting Products reporting unit's fair value through a combination of the market approach (a guideline transaction method) and the income approach (a discounted cash flow analysis). The Company utilized a discount rate from the capital asset pricing model for the discounted cash flow analysis. From this testing, the Company concluded that the carrying value of the Lighting Products reporting unit exceeded its fair value, resulting in a goodwill impairment of $247.5 million . As of March 25, 2018, there was $347.0 million , $180.3 million and $90.3 million of goodwill remaining related to the Wolfspeed, LED Products, and Lighting Products reporting units, respectively.

Acquisition

Acquisition	9 Months Ended
	Mar. 25, 2018
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	Acquisition Infineon Technologies AG Radio Frequency Power Business On March 6, 2018 , the Company acquired certain assets of the Infineon Technologies AG (Infineon) Radio Frequency Power Business (RF Power) , pursuant to an asset purchase agreement with Infineon in exchange for a base purchase price of $429 million , subject to certain adjustments. As part of the agreement, the Company paid $427 million of cash on the purchase date and has agreed to purchase certain additional non-U.S. property and equipment related to the RF Power business from Infineon for approximately $2.2 million, with this additional purchase expected to close during the fourth quarter of fiscal 2018. The acquisition allows the Company to expand its product portfolio into the wireless market. The acquisition of the RF Power business from Infineon was accounted for as a business combination. The purchase price for this acquisition is preliminary and subject to change. The areas of the purchase price that are not yet finalized are primarily related to intangible assets, property and equipment, other long-term liabilities, amortization and depreciation lives. The purchase price has been preliminarily allocated to the assets acquired and liabilities assumed based on their estimated fair values as follows (in thousands): Assets: Inventories $24,931 Property and equipment 10,504 Intangible assets 149,000 Goodwill 246,278 Total Assets 430,713 Liabilities assumed: Accounts payable (39 ) Accrued expenses and liabilities (3,264 ) Other long-term liabilities (290 ) Total liabilities assumed (3,593 ) Net assets acquired $ 427,120 As noted above, the valuation of acquired intangible assets is preliminary as of March 25, 2018. Similarly, the amortization periods are preliminary until the valuation is finalized. The preliminary amortization periods for intangible assets acquired are as follows (in thousands, except for years): Asset Amount Estimated Life in Years Lease agreement 1,000 10 Customer relationships 92,000 15 Developed technology 44,000 14 Non-compete agreements 12,000 4 Total identifiable intangible assets $149,000 Goodwill largely consists of the manufacturing and other synergies of the combined companies, and the value of the assembled workforce. For tax purposes, in accordance with IRC Section 197, $246 million of goodwill will be amortized over 15 years. The assets, liabilities, and operating results of the RF Power business have been included in the Company's consolidated financial statements from the date of acquisition. Additionally, the RF Power business's results from operations are reported as part of the Company's Wolfspeed segment. The results of the RF Power business reflected in the Company's Consolidated Statements of Loss for the three months ended March 25, 2018 from the date of acquisition (March 6, 2018) are as follows (in thousands): Amount Revenue $4,191 Net loss (2,325 ) The Company incurred total transaction costs related to the acquisition of approximately $3.1 million which were expensed in the third quarter of fiscal 2018 in accordance with U.S. GAAP. Pro Forma Financial Information The following supplemental pro forma information (in thousands, except per share data) presents the consolidated financial results as if the RF Power transaction had occurred at the beginning of the 2017 fiscal year: Three Months Ended Nine Months Ended March 25, 2018 March 26, 2017 March 25, 2018 March 26, 2017 Revenue $370,939 $365,771 $1,149,645 $1,202,199 Net loss (237,189 ) (101,142 ) (247,614 ) (97,542 ) Earnings per share, basic $ (2.37 ) $ (1.04 ) $ (2.50 ) $ (0.99 ) Earnings per share, diluted $ (2.37 ) $ (1.04 ) $ (2.50 ) $ (0.99 ) These amounts have been calculated after applying the Company's accounting policies and adjusting the results of the RF Power business to give effect to events and transactions that are directly attributable to the RF Power business transactions, including the elimination of sales by the Company to the RF Power business prior to acquisition, additional depreciation and amortization that would have been charged assuming the fair value adjustments primarily to property and equipment and intangible assets had been applied at the beginning of the 2017 fiscal year, together with the consequential tax effects. Excluded from the pro forma net income and the earnings per share amounts for the three and nine months ended March 25, 2018 are one-time acquisition costs and foreign currency gains attributable to the RF Power business of $3.1 million and $1.9 million , respectively. This supplemental pro forma information has been prepared for comparative purposes and does not purport to be indicative of what would have occurred had the acquisition been made at the beginning of the 2017 fiscal year, nor is it indicative of any future results. Arkansas Power Electronics International, Inc. 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 were achieved over the subsequent two years, additional cash payments totaling up to $4.6 million were to be made to the former APEI shareholders. Payments totaling $2.8 million were made to the former APEI shareholders in July 2016 based on achievement of the first year goals. The final payment of $1.9 million was made in July 2017 based on achievement of the second year goals. 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 Wolfspeed segment.

Joint Venture (Notes)

Joint Venture (Notes)	9 Months Ended
	Mar. 25, 2018
Joint Venture [Abstract]
Noncontrolling Interest	Note 2 – Joint Venture Effective July 17, 2017, the Company entered into a Shareholders Agreement with San’an Optoelectronics Co., Ltd. (San’an) and Cree Venture LED Company Limited (Cree Venture LED) pursuant to which the Company and San’an funded their contributions to Cree Venture LED and agreed upon the management and operation of Cree Venture LED. The Company contributed $5.1 million of cash for a 51% ownership interest and San’an contributed $4.9 million of cash for a 49% ownership interest. Cree Venture LED has a five-member board of directors, three of which were designated by the Company and two of which were designated by San’an. As a result of the Company's majority voting interest, the Company consolidates the operations of Cree Venture LED and reports its revenue and gross profit within the Company's LED Products segment. The Company classifies the 49% ownership interest held by San'an as "Noncontrolling interest" on the consolidated balance sheet. During the nine months ended March 25, 2018 , the noncontrolling interest increased by $59 thousand for its share of net income from Cree Venture LED. There were no other changes in the noncontrolling interest. In connection with forming Cree Venture LED and entering into the Shareholders Agreement, Cree Venture LED and San’an also entered into a manufacturing agreement pursuant to which San'an will supply Cree Venture LED with mid-power LED products, and the Company and Cree Venture LED entered into a sales agency agreement pursuant to which the Company will be the independent sales representative of Cree Venture LED in the exclusive markets, among certain other ancillary agreements related to the transaction. Cree Venture LED will produce and deliver to market high performing, mid-power lighting class LEDs in an exclusive arrangement to serve the expanding markets of North and South America, Europe and Japan, and serve China and the rest of the world on a non-exclusive basis. Cree Venture LED recorded its first sales to customers during the first quarter of fiscal 2018.

Financial Statement Details

Financial Statement Details	9 Months Ended
	Mar. 25, 2018
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 25, 2018 June 25, 2017 Billed trade receivables $204,675 $205,516 Unbilled contract receivables 1,078 912 205,753 206,428 Allowance for sales returns, discounts and other incentives (53,635 ) (49,425 ) Allowance for bad debts (8,781 ) (8,611 ) Accounts receivable, net $143,337 $148,392 Inventories The following table summarizes the components of inventories (in thousands): March 25, 2018 June 25, 2017 Raw material $90,455 $73,410 Work-in-progress 109,457 100,402 Finished goods 109,946 110,573 Inventories $309,858 $284,385 Other Current Liabilities The following table summarizes the components of other current liabilities (in thousands): March 25, 2018 June 25, 2017 Accrued taxes $8,368 $11,148 Accrued professional fees 5,991 5,545 Accrued warranty 12,391 13,631 Accrued other 9,171 6,654 Other current liabilities $35,921 $36,978 Accumulated Other Comprehensive Income, net of taxes The following table summarizes the components of accumulated other comprehensive income, net of taxes (in thousands): March 25, 2018 June 25, 2017 Currency translation gain $6,478 $4,471 Net unrealized (loss) gain on available-for-sale securities (4,532 ) 1,438 Accumulated other comprehensive income, net of taxes $1,946 $5,909 Non-Operating (Expense) Income, net The following table summarizes the components of non-operating (expense) income, net (in thousands): Three Months Ended Nine Months Ended March 25, 2018 March 26, 2017 March 25, 2018 March 26, 2017 Foreign currency gain, net $3,641 $2,434 $4,869 $1,939 (Loss) gain on sale of investments, net (133 ) 1 (85 ) 13 (Loss) gain on equity investment, net (13,968 ) 6,443 7,510 160 Interest income, net 743 927 3,360 2,714 Other, net 66 60 357 120 Non-operating (expense) income, net ($9,651 ) $9,865 $16,011 $4,946 The change in (loss) gain on equity investment, net is due to the increase in the Lextar Electronics Corporation (Lextar) stock price. Reclassifications Out of Accumulated Other Comprehensive Income, net of taxes The following table summarizes the amounts reclassified out of accumulated other comprehensive income, net of taxes (in thousands): Accumulated Other Comprehensive Income Component Amount Reclassified Out of Accumulated Other Comprehensive Income Affected Line Item in the Consolidated Statements of Loss Three Months Ended Nine Months Ended March 25, 2018 March 26, 2017 March 25, 2018 March 26, 2017 Net unrealized gain on available-for-sale securities, net of taxes ($133 ) $1 ($85 ) $13 Non-operating (expense) income, net (133 ) 1 (85 ) 13 Loss before income taxes — — — — Income tax (benefit) expense ($133 ) $1 ($85 ) $13

Investments

Investments	9 Months Ended
	Mar. 25, 2018
Investments, Debt and Equity Securities [Abstract]
Investments	Investments Investments consist of municipal bonds, corporate bonds, U.S. agency securities, commercial paper 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. The following tables summarize short-term investments (in thousands): March 25, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Municipal bonds $110,504 $6 ($1,122 ) $109,388 Corporate bonds 68,238 36 (978 ) 67,296 U.S. agency securities 3,921 — (28 ) 3,893 Non-U.S. certificates of deposit 117,566 — — 117,566 Commercial paper 2,096 — — 2,096 Total short-term investments $302,325 $42 ($2,128 ) $300,239 June 25, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Municipal bonds $177,890 $2,219 ($68 ) $180,041 Corporate bonds 175,991 1,925 (195 ) 177,721 U.S. agency securities — — — — Non-U.S. certificates of deposit 120,379 — — 120,379 Commercial paper 200 — — 200 Total short-term investments $474,460 $4,144 ($263 ) $478,341 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 25, 2018 Less than 12 Months Greater than 12 Months Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Municipal bonds $98,251 ($988 ) $3,666 ($87 ) $101,917 ($1,075 ) Corporate bonds 56,160 (967 ) 1,493 (58 ) 57,653 (1,025 ) U.S. agency securities 8,515 (28 ) — — 8,515 (28 ) Total $162,926 ($1,983 ) $5,159 ($145 ) $168,085 ($2,128 ) Number of securities with an unrealized loss 134 6 140 June 25, 2017 Less than 12 Months Greater than 12 Months Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Municipal bonds $26,816 ($68 ) $— $— $26,816 ($68 ) Corporate bonds 57,404 (195 ) — — 57,404 (195 ) U.S. agency securities — — — — — — Total $84,220 ($263 ) $— $— $84,220 ($263 ) Number of securities with an unrealized loss 67 — 67 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 (expense) income, net in the consolidated statements of 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 25, 2018 and June 25, 2017 . The contractual maturities of short-term investments as of March 25, 2018 were as follows (in thousands): Within One Year After One, Within Five Years After Five, Within Ten Years After Ten Years Total Municipal bonds $— $109,388 $— $— $109,388 Corporate bonds 4,161 55,705 7,430 — 67,296 U.S. agency securities — 3,893 — — 3,893 Non-U.S. certificates of deposit 112,842 4,724 — — 117,566 Commercial paper 2,096 — — — 2,096 Total short-term investments $119,099 $173,710 $7,430 $— $300,239

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Mar. 25, 2018
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 25, 2018 , financial assets utilizing Level 1 inputs included money market funds and U.S. agency securities, and financial assets utilizing Level 2 inputs included municipal bonds, corporate bonds, U.S. agency securities, certificates of deposit, commercial paper 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 25, 2018 . There were no transfers between Level 1 and Level 2 during the nine months ended March 25, 2018 . The following table sets forth financial instruments carried at fair value within the U.S. GAAP hierarchy (in thousands): March 25, 2018 June 25, 2017 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Municipal bonds $— $— $— $— $— $1,802 $— $1,802 U.S. agency securities 1,000 6,368 — 7,368 — — — — Non-U.S. certificates of deposit — — — — — 736 — 736 Commercial Paper — 999 — 999 — — — — Money market funds 2,054 — — 2,054 1,184 — — 1,184 Total cash equivalents 3,054 7,367 — 10,421 1,184 2,538 — 3,722 Short-term investments: Municipal bonds — 109,388 — 109,388 — 180,041 — 180,041 Corporate bonds — 67,296 — 67,296 — 177,721 — 177,721 U.S. agency securities 3,893 — — 3,893 — — — — Commercial paper — 2,096 — 2,096 — 200 — 200 Non-U.S. certificates of deposit — 117,566 — 117,566 — 120,379 — 120,379 Total short-term investments 3,893 296,346 — 300,239 — 478,341 — 478,341 Other long-term investments: Common stock of non-U.S. corporations — 60,419 — 60,419 — 50,366 — 50,366 Total other long-term investments — 60,419 — 60,419 — 50,366 — 50,366 Total assets $6,947 $364,132 $— $371,079 $1,184 $531,245 $— $532,429

Intangible Assets

Intangible Assets	9 Months Ended
	Mar. 25, 2018
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 25, 2018 June 25, 2017 Gross Accumulated Amortization Net Gross Accumulated Amortization Net Intangible assets with finite lives: Customer relationships $233,420 ($89,679 ) $143,741 $141,420 ($84,673 ) $56,747 Developed technology 226,728 (148,569 ) 78,159 181,728 (132,747 ) 48,981 Non-compete agreements 22,475 (10,617 ) 11,858 10,475 (10,398 ) 77 Trade names, finite-lived 520 (520 ) — 520 (520 ) — Patent and licensing rights 158,054 (70,656 ) 87,398 151,985 (63,155 ) 88,830 Total intangible assets with finite lives 641,197 (320,041 ) 321,156 486,128 (291,493 ) 194,635 Trade names, indefinite-lived 79,680 — 79,680 79,680 — 79,680 Total intangible assets $720,877 ($320,041 ) $400,836 $565,808 ($291,493 ) $274,315 For the three and nine months ended March 25, 2018 , total amortization of finite-lived intangible assets was $10.6 million and $30.4 million , respectively. For the three and nine months ended March 26, 2017 , total amortization of finite-lived intangible assets was $13.0 million and $29.9 million , respectively. Total future amortization expense of finite-lived intangible assets is estimated to be as follows (in thousands): Fiscal Year Ending June 24, 2018 (remainder of fiscal 2018) $13,588 June 30, 2019 38,032 June 28, 2020 32,591 June 27, 2021 31,153 June 26, 2022 27,831 Thereafter 177,961 Total future amortization expense $321,156 Goodwill by reportable segment as March 25, 2018 was as follows (in thousands): Wolfspeed LED Products Lighting Products Consolidated Total Balance at June 25, 2017 $100,769 $180,278 $337,781 $618,828 Acquisition 246,278 — — 246,278 Goodwill impairment charges — — (247,455 ) (247,455 ) Balance at March 25, 2018 $347,047 $180,278 $90,326 $617,651 The goodwill impairment charges in the Lighting Products segment resulted from updating the Company's long range business strategy as described in Note 1.

Long-term Debt

Long-term Debt	9 Months Ended
	Mar. 25, 2018
Long-term Debt, Unclassified [Abstract]
Long-term Debt	Long-term Debt As of March 25, 2018 , 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, 2022 . The Company classifies balances outstanding under its line of credit as long-term debt in the consolidated balance sheets. At March 25, 2018 , the Company had $316 million outstanding under the line of credit and $184 million available for borrowing. For the three and nine months ended March 25, 2018 , the average interest rate was 2.19% and 1.93% for each period, respectively. For the three and nine months ended March 25, 2018 the average commitment fee percentage was 0.10% . The Company was in compliance with all covenants in the line of credit at March 25, 2018 .

Shareholders' Equity

Shareholders' Equity	9 Months Ended
	Mar. 25, 2018
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Shareholders’ Equity As of March 25, 2018 , 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 $200 million for all purchases from June 26, 2017 through the expiration of the program on June 24, 2018 . During the nine months ended March 25, 2018 , the Company repurchased no shares of common stock under the stock repurchase program.

Loss Per Share

Loss Per Share	9 Months Ended
	Mar. 25, 2018
Earnings Per Share [Abstract]
Loss Per Share	The following table presents the computation of basic loss per share (in thousands, except per share amounts): Three Months Ended Nine Months Ended March 25, March 26, March 25, March 26, Net loss ($240,577 ) ($99,013 ) ($246,712 ) ($92,230 ) Weighted average common shares 100,140 97,346 99,046 98,791 Basic loss per share ($2.40 ) ($1.02 ) ($2.49 ) ($0.93 ) The following computation reconciles the differences between the basic and diluted loss per share presentations (in thousands, except per share amounts): Three Months Ended Nine Months Ended March 25, March 26, March 25, March 26, Net loss ($240,577 ) ($99,013 ) ($246,712 ) ($92,230 ) Weighted average common shares - basic 100,140 97,346 99,046 98,791 Dilutive effect of stock options, nonvested shares and Employee Stock Purchase Plan purchase rights — — — — Weighted average common shares - diluted 100,140 97,346 99,046 98,791 Diluted loss per share ($2.40 ) ($1.02 ) ($2.49 ) ($0.93 ) 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 25, 2018 , there were 3.8 million and 4.4 million , respectively, of potential common shares not included in the calculation of diluted loss per share because their effect was anti-dilutive. For the three and nine months ended March 26, 2017 , there were 11.3 million and 11.5 million , respectively, of potential common shares not included in the calculation of diluted loss per share because their effect was anti-dilutive.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Mar. 25, 2018
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 25, 2018 and changes during the nine months then ended (numbers of shares in thousands): Number of Shares Weighted Average Exercise Price Outstanding at June 25, 2017 10,604 $38.27 Granted 53 $24.66 Exercised (1,988 ) $27.97 Forfeited or expired (1,548 ) $49.13 Outstanding at March 25, 2018 7,121 $38.69 Restricted Stock Awards and Units A summary of nonvested restricted stock awards (RSAs) and restricted stock unit awards (RSUs) outstanding as of March 25, 2018 , 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 25, 2017 2,412 $26.74 Granted 2,305 $26.47 Vested (677 ) $29.24 Forfeited (532 ) $24.57 Nonvested at March 25, 2018 3,508 $26.41 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 25, March 26, March 25, March 26, Income Statement Classification: Cost of revenue, net $1,729 $2,229 $5,402 $8,012 Research and development 2,374 2,542 6,830 8,468 Sales, general and administrative 7,056 6,790 21,087 21,937 Total stock-based compensation expense $11,159 $11,561 $33,319 $38,417

Income Taxes

Income Taxes	9 Months Ended
	Mar. 25, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes In general, the variation between the Company's effective income tax rate and the U.S. statutory rate of 28.3% is primarily due to: (i) changes in the Company’s valuation allowances against deferred tax assets in the U.S. and Luxembourg, (ii) projected income for the full year derived from international locations with lower tax rates than the U.S. and (iii) projected tax credits generated. The Tax Cuts and Jobs Act of 2017 (Tax Legislation), enacted on December 22, 2017, contains significant changes to U.S. tax law, including lowering the U.S. corporate income tax rate to 21%, implementing a territorial tax system, and imposing a one-time tax on deemed repatriated earnings of foreign subsidiaries. The Company has included preliminary estimates for the impact of the Tax Legislation in our unaudited financial statements within this Quarterly Report. These preliminary estimates may be impacted by a number of additional considerations, including, but not limited to, the issuance of authoritative guidance and final regulations, the Company's ongoing analysis of the new law and the Company's actual earnings for the fiscal year ending June 24, 2018. The Tax Legislation reduces the U.S. statutory tax rate from 35% to 21%, effective January 1, 2018. U.S. tax law requires that taxpayers with a fiscal year that begins before and ends after the effective date of a rate change calculate a blended tax rate based on the pro rata number of days in the fiscal year before and after the effective date. As a result, for the fiscal year ending June 24, 2018, the Company’s statutory income tax rate will be 28.3% . For the fiscal year ending June 30, 2019, the Company’s statutory income tax rate will be 21%. During the three months ended December 24, 2017, the Company recorded an $18.8 million discrete tax benefit representing the benefit of remeasuring its U.S. deferred tax liabilities at the lower 21% statutory tax rate. The Tax Legislation also implements a territorial tax system. Under the territorial tax system, in general, the Company’s foreign earnings will no longer be subject to tax in the U.S. As part of transitioning to the territorial tax system, the Tax Legislation includes a mandatory deemed repatriation of all undistributed foreign earnings that are subject to a U.S. income tax. As of March 25, 2018 , the Company estimates the deemed repatriation will result in $14.1 million of additional U.S. income tax, a decrease of $1.6 million from the estimate as of December 24, 2017. There is no impact to the Company's effective income tax rate as a result of the change in estimated deemed repatriation tax as the Company continues to expect to fully offset the additional tax through the utilization of tax credits. This preliminary estimate was impacted by the issuance of authoritative guidance and the Company's actual earnings for the three months ended March 25, 2018. As of March 25, 2018 , the Company has approximately $215.4 million of undistributed earnings for certain non-U.S. subsidiaries, a decrease from the prior quarter primarily due to distribution of foreign earnings. During the three months ended March 25, 2018, the Company reevaluated its assertion to reinvest a portion of its undistributed foreign earnings in foreign operations indefinitely considering the acquisition of the RF Power assets. For the three months ended March 25, 2018 , the Company has determined that $184.6 million of the $215.4 million of undistributed foreign earnings are expected to be repatriated in the foreseeable future. For the three months ended March 25, 2018 , the Company recorded a $1.3 million discrete tax expense representing the deferred tax liability for foreign income taxes expected to be withheld upon repatriation of the foreign earnings. As of March 25, 2018 , the Company has not provided income taxes on the remaining undistributed foreign earnings of $30.9 million as the Company continues to maintain its intention to reinvest these earnings in foreign operations indefinitely. If, at a later date, these earnings were repatriated to the U.S., the Company would be required to pay approximately $1.5 million in taxes on these amounts. The Company assesses all available positive and negative evidence to estimate if sufficient future taxable income will be generated to utilize the existing deferred tax assets by jurisdiction. The Company has concluded that it is necessary to recognize a full valuation allowance against its U.S. and Luxembourg deferred tax assets. The Company reassessed the need for a full valuation allowance against its U.S. deferred tax assets due to the Tax Legislation and the acquisition of the RF Power assets and concluded that a full valuation allowance is still necessary. As of June 25, 2017, the U.S. valuation allowance was $101.8 million. During the nine months ended March 25, 2018 , the Company decreased the U.S. valuation allowance by $7.0 million due to the impact of the Tax Legislation offset by the creation of U.S. deferred tax assets upon the impairment of goodwill. As of June 25, 2017 , the Luxembourg valuation allowance was $5.8 million. During the nine months ended March 25, 2018 , the Company reduced this valuation allowance by $1.1 million due to year-to-date income in Luxembourg. 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 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 25, 2017 , the Company's liability for unrecognized tax benefits was $13.3 million . During the nine months ended March 25, 2018 , the Company recorded a $4.7 million decrease to the liability for unrecognized tax benefits due to the U.S. statutory rate reduction. In addition, there was a $0.6 million increase in the unrecognized tax benefits due to uncertainty regarding state depreciation deductions, and a $0.3 million decrease due to expiration of statute of limitations. As a result, the total liability for unrecognized tax benefits as of March 25, 2018 was $8.9 million . If any portion of this $8.9 million is recognized, the Company will then include that portion in the computation of its effective tax rate. Although the ultimate timing of the resolution and/or closure of audits is highly uncertain, the Company believes it is reasonably possible that $0.8 million of gross unrecognized tax benefits will change in the next 12 months as a result of statute requirements. The Company files U.S. federal, U.S. state and foreign tax returns. For U.S. federal purposes, the Company is generally no longer subject to tax examinations for fiscal years prior to 2015. For U.S. state tax returns, the Company is generally no longer subject to tax examinations for fiscal years prior to 2014. For foreign purposes, the Company is generally no longer subject to tax examinations for tax periods prior to 2007. Certain carryforward tax attributes generated in prior years remain subject to examination, adjustment and recapture.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Mar. 25, 2018
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 25, 2017 $27,919 Warranties accrued in current period 19,753 Expenditures (13,071 ) Balance at March 25, 2018 $34,601 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 25, 2018 , $22.2 million of the Company's product warranty liabilities were classified as long-term. The Company has voluntarily recalled 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. 25, 2018
Segment Reporting [Abstract]
Reportable Segments	Reportable Segments The Company's operating and reportable segments are: • Wolfspeed • LED Products • Lighting Products Reportable Segments Description The Company's Wolfspeed segment includes power devices, RF devices, and SiC materials. The Company's LED Products segment includes LED chips and LED components. The Company's Lighting Products segment primarily consists of LED lighting systems and lamps. 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 25, 2018 . The Company's CODM is the Chief Executive Officer. The Company used the same accounting policies to derive the segment results reported below as those used in the Company's consolidated financial statements. The Company's CODM does not review inter-segment transactions when evaluating segment performance and allocating resources to each segment, and inter-segment transactions are not included in the segment revenue presented in the table below. As such, total segment revenue in the table below is equal to the Company's consolidated revenue. The Company's CODM reviews gross profit as the lowest and only level of segment profit. As such, all items below gross profit in the consolidated statements of loss must be included to reconcile the consolidated gross profit presented in the table below to the Company's consolidated loss 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, quarterly or annual incentive plans, matching contributions under the Company’s 401(k) plan, and acquisition related costs. 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. For the three and nine months ended March 26, 2017, the Wolfspeed segment was presented as discontinued operations. The depreciation and amortization adjustment in the table below represents the depreciation and amortization that would have been recognized had the Wolfspeed assets been continuously classified as held and used. These costs were allocated to the Wolfspeed segment's gross profit for the three and nine months ended March 26, 2017 because they represent an adjustment which provides comparability to the current period. 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 25, March 26, March 25, March 26, Revenue: Wolfspeed revenue $81,902 $56,133 $218,628 $160,401 LED Products revenue 143,298 131,327 440,500 406,858 Lighting Products revenue 130,758 154,045 425,098 546,805 Total revenue $355,958 $341,505 $1,084,226 $1,114,064 Gross Profit and Gross Margin: Wolfspeed gross profit $39,285 $26,396 $105,816 $74,737 Wolfspeed gross margin 48.0 % 47.0 % 48.4 % 46.6 % LED Products gross profit 37,764 32,385 115,180 115,499 LED Products gross margin 26.4 % 24.7 % 26.1 % 28.4 % Lighting Products gross profit 24,956 35,355 79,803 159,415 Lighting Products gross margin 19.1 % 23.0 % 18.8 % 29.2 % Total segment gross profit 102,005 94,136 300,799 349,651 Unallocated costs (2,949 ) (3,459 ) (8,808 ) (13,077 ) Depreciation and amortization adjustment — (4,601 ) — — Consolidated gross profit $99,056 $86,076 $291,991 $336,574 Consolidated gross margin 27.8 % 25.2 % 26.9 % 30.2 % 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, quarterly or annual incentive compensation, matching contributions under the Company’s 401(k) plan, and acquisition related costs . Inventories for each of the Company's segments were as follows (in thousands): March 25, June 25, Wolfspeed $56,261 $26,453 LED Products 102,078 108,297 Lighting Products 147,131 145,710 Total segment inventories 305,470 280,460 Unallocated inventories 4,388 3,925 Consolidated inventories $309,858 $284,385

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Mar. 25, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The consolidated balance sheet at March 25, 2018 , the consolidated statements of loss for the three and nine months ended March 25, 2018 and March 26, 2017 , the consolidated statements of comprehensive loss for the three and nine months ended March 25, 2018 and March 26, 2017 , and the consolidated statements of cash flows for the nine months ended March 25, 2018 and March 26, 2017 (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, comprehensive loss and cash flows at March 25, 2018 , and for all periods presented, have been made. All intercompany accounts and transactions have been eliminated. The consolidated balance sheet at June 25, 2017 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 25, 2017 (fiscal 2017 ). The results of operations for the three and nine months ended March 25, 2018 are not necessarily indicative of the operating results that may be attained for the entire fiscal year ending June 24, 2018 (fiscal 2018 ). 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 2017 amounts related to the Wolfspeed business in the accompanying consolidated financial statements have been reclassified to continuing operations to conform to the fiscal 2018 presentation. These reclassifications had no effect on previously reported consolidated net income or shareholders’ equity.
Comparability of Prior Period Financial Data	Certain fiscal 2017 amounts related to the Wolfspeed business in the accompanying consolidated financial statements have been reclassified to continuing operations to conform to the fiscal 2018 presentation. These reclassifications had no effect on previously reported consolidated net income or shareholders’ equity.
New Accounting Standards	Recently Issued Accounting Pronouncements Revenue from Contracts with Customers In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09: Revenue from Contracts with Customers (Topic 606). The 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 Company’s evaluation of ASU 2014-09 is ongoing and not complete; however, the Company anticipates the primary changes to revenue recognition to be related to certain patent license arrangements. The FASB has issued and may issue in the future, interpretive guidance, which may cause our evaluation to change. The effective date will be the first quarter of the Company's fiscal year ending June 30, 2019 and the Company currently expects to use the modified retrospective method. 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): Improvements to Employee Share-Based Payment Accounting. 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 grants an entity the right to withhold up to the employee’s maximum statutory tax rate in the applicable jurisdiction without triggering liability accounting. The effective date was the first quarter of the Company's fiscal year ending June 24, 2018. The Company's adoption of this ASU did not have a material impact on its consolidated financial statements. All excess tax benefits and deficiencies in the current and future periods will be recognized as income tax expense in the Company’s income statement in the reporting period in which they occur. This could result in increased volatility in the Company’s effective tax rate. For the nine months ended March 25, 2018 , the Company did not recognize a discrete event related to the excess tax benefits from stock-based compensation due to a full U.S. valuation allowance on the impact. The Company plans to continue its existing practice of estimating expected forfeitures in determining compensation cost. Goodwill Impairment Testing In January 2017, the FASB issued ASU No. 2017-04: Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. The ASU simplifies the manner in which an entity is required to test for goodwill impairment by eliminating Step 2 from the goodwill impairment test. Additionally, the ASU removes the requirement for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails such qualitative test, to continue to perform Step 1 of the goodwill impairment test. The Company early adopted this standard in the third quarter of fiscal year ending June 24, 2018. Based on the updating of the Company's long range business strategy that was announced February 26, 2018, the Company determined there was a triggering event and performed an impairment test in connection with the preparation of its financial statements for the period ended March 25, 2018. The Company derived the Lighting Products reporting unit's fair value through a combination of the market approach (a guideline transaction method) and the income approach (a discounted cash flow analysis). The Company utilized a discount rate from the capital asset pricing model for the discounted cash flow analysis. From this testing, the Company concluded that the carrying value of the Lighting Products reporting unit exceeded its fair value, resulting in a goodwill impairment of $247.5 million . As of March 25, 2018, there was $347.0 million , $180.3 million and $90.3 million of goodwill remaining related to the Wolfspeed, LED Products, and Lighting Products reporting units, respectively.
Consolidation, Subsidiaries or Other Investments, Consolidated Entities, Policy	Effective July 17, 2017, the Company entered into a Shareholders Agreement with San’an Optoelectronics Co., Ltd. (San’an) and Cree Venture LED Company Limited (Cree Venture LED) pursuant to which the Company and San’an funded their contributions to Cree Venture LED and agreed upon the management and operation of Cree Venture LED. The Company contributed $5.1 million of cash for a 51% ownership interest and San’an contributed $4.9 million of cash for a 49% ownership interest. Cree Venture LED has a five-member board of directors, three of which were designated by the Company and two of which were designated by San’an. As a result of the Company's majority voting interest, the Company consolidates the operations of Cree Venture LED and reports its revenue and gross profit within the Company's LED Products segment. The Company classifies the 49% ownership interest held by San'an as "Noncontrolling interest" on the consolidated balance sheet.
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 25, 2018 . The Company's CODM is the Chief Executive Officer. The Company used the same accounting policies to derive the segment results reported below as those used in the Company's consolidated financial statements. The Company's CODM does not review inter-segment transactions when evaluating segment performance and allocating resources to each segment, and inter-segment transactions are not included in the segment revenue presented in the table below. As such, total segment revenue in the table below is equal to the Company's consolidated revenue. The Company's CODM reviews gross profit as the lowest and only level of segment profit. As such, all items below gross profit in the consolidated statements of loss must be included to reconcile the consolidated gross profit presented in the table below to the Company's consolidated loss 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, quarterly or annual incentive plans, matching contributions under the Company’s 401(k) plan, and acquisition related costs. These costs were not allocated to the reportable segments’ gross profit because the Company’s CODM does not review them regularly when evaluating segment performance and allocating resources.

Acquisition Acquisition (Tables

Acquisition Acquisition (Tables)	9 Months Ended
	Mar. 25, 2018
Business Acquisition [Line Items]
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	Assets: Inventories $24,931 Property and equipment 10,504 Intangible assets 149,000 Goodwill 246,278 Total Assets 430,713 Liabilities assumed: Accounts payable (39 ) Accrued expenses and liabilities (3,264 ) Other long-term liabilities (290 ) Total liabilities assumed (3,593 ) Net assets acquired $ 427,120
Schedule of Indefinite-lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]	Asset Amount Estimated Life in Years Lease agreement 1,000 10 Customer relationships 92,000 15 Developed technology 44,000 14 Non-compete agreements 12,000 4 Total identifiable intangible assets $149,000
Business Acquisition, Pro Forma Information [Table Text Block]	Three Months Ended Nine Months Ended March 25, 2018 March 26, 2017 March 25, 2018 March 26, 2017 Revenue $370,939 $365,771 $1,149,645 $1,202,199 Net loss (237,189 ) (101,142 ) (247,614 ) (97,542 ) Earnings per share, basic $ (2.37 ) $ (1.04 ) $ (2.50 ) $ (0.99 ) Earnings per share, diluted $ (2.37 ) $ (1.04 ) $ (2.50 ) $ (0.99 )

Financial Statement Details (Ta

Financial Statement Details (Tables)	9 Months Ended
	Mar. 25, 2018
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 25, 2018 June 25, 2017 Billed trade receivables $204,675 $205,516 Unbilled contract receivables 1,078 912 205,753 206,428 Allowance for sales returns, discounts and other incentives (53,635 ) (49,425 ) Allowance for bad debts (8,781 ) (8,611 ) Accounts receivable, net $143,337 $148,392
Summary of the Components of Inventories	The following table summarizes the components of inventories (in thousands): March 25, 2018 June 25, 2017 Raw material $90,455 $73,410 Work-in-progress 109,457 100,402 Finished goods 109,946 110,573 Inventories $309,858 $284,385
Summary of the Components of Other Current Liabilities	The following table summarizes the components of other current liabilities (in thousands): March 25, 2018 June 25, 2017 Accrued taxes $8,368 $11,148 Accrued professional fees 5,991 5,545 Accrued warranty 12,391 13,631 Accrued other 9,171 6,654 Other current liabilities $35,921 $36,978
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 25, 2018 June 25, 2017 Currency translation gain $6,478 $4,471 Net unrealized (loss) gain on available-for-sale securities (4,532 ) 1,438 Accumulated other comprehensive income, net of taxes $1,946 $5,909
Summary of the Components of Non-operating Income, Net	The following table summarizes the components of non-operating (expense) income, net (in thousands): Three Months Ended Nine Months Ended March 25, 2018 March 26, 2017 March 25, 2018 March 26, 2017 Foreign currency gain, net $3,641 $2,434 $4,869 $1,939 (Loss) gain on sale of investments, net (133 ) 1 (85 ) 13 (Loss) gain on equity investment, net (13,968 ) 6,443 7,510 160 Interest income, net 743 927 3,360 2,714 Other, net 66 60 357 120 Non-operating (expense) income, net ($9,651 ) $9,865 $16,011 $4,946
Summary of the Amounts Reclassified Out of Accumulated Other Comprehensive Income	The following table summarizes the amounts reclassified out of accumulated other comprehensive income, net of taxes (in thousands): Accumulated Other Comprehensive Income Component Amount Reclassified Out of Accumulated Other Comprehensive Income Affected Line Item in the Consolidated Statements of Loss Three Months Ended Nine Months Ended March 25, 2018 March 26, 2017 March 25, 2018 March 26, 2017 Net unrealized gain on available-for-sale securities, net of taxes ($133 ) $1 ($85 ) $13 Non-operating (expense) income, net (133 ) 1 (85 ) 13 Loss before income taxes — — — — Income tax (benefit) expense ($133 ) $1 ($85 ) $13

Investments (Tables)

Investments (Tables)	9 Months Ended
	Mar. 25, 2018
Investments, Debt and Equity Securities [Abstract]
Summary of Short-term Investments by Type	The following tables summarize short-term investments (in thousands): March 25, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Municipal bonds $110,504 $6 ($1,122 ) $109,388 Corporate bonds 68,238 36 (978 ) 67,296 U.S. agency securities 3,921 — (28 ) 3,893 Non-U.S. certificates of deposit 117,566 — — 117,566 Commercial paper 2,096 — — 2,096 Total short-term investments $302,325 $42 ($2,128 ) $300,239 June 25, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Municipal bonds $177,890 $2,219 ($68 ) $180,041 Corporate bonds 175,991 1,925 (195 ) 177,721 U.S. agency securities — — — — Non-U.S. certificates of deposit 120,379 — — 120,379 Commercial paper 200 — — 200 Total short-term investments $474,460 $4,144 ($263 ) $478,341
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 25, 2018 Less than 12 Months Greater than 12 Months Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Municipal bonds $98,251 ($988 ) $3,666 ($87 ) $101,917 ($1,075 ) Corporate bonds 56,160 (967 ) 1,493 (58 ) 57,653 (1,025 ) U.S. agency securities 8,515 (28 ) — — 8,515 (28 ) Total $162,926 ($1,983 ) $5,159 ($145 ) $168,085 ($2,128 ) Number of securities with an unrealized loss 134 6 140 June 25, 2017 Less than 12 Months Greater than 12 Months Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Municipal bonds $26,816 ($68 ) $— $— $26,816 ($68 ) Corporate bonds 57,404 (195 ) — — 57,404 (195 ) U.S. agency securities — — — — — — Total $84,220 ($263 ) $— $— $84,220 ($263 ) Number of securities with an unrealized loss 67 — 67
Contractual Maturities of Short-term Investments by Type	The contractual maturities of short-term investments as of March 25, 2018 were as follows (in thousands): Within One Year After One, Within Five Years After Five, Within Ten Years After Ten Years Total Municipal bonds $— $109,388 $— $— $109,388 Corporate bonds 4,161 55,705 7,430 — 67,296 U.S. agency securities — 3,893 — — 3,893 Non-U.S. certificates of deposit 112,842 4,724 — — 117,566 Commercial paper 2,096 — — — 2,096 Total short-term investments $119,099 $173,710 $7,430 $— $300,239

Fair Value of Financial Instr26

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Mar. 25, 2018
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 25, 2018 June 25, 2017 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Municipal bonds $— $— $— $— $— $1,802 $— $1,802 U.S. agency securities 1,000 6,368 — 7,368 — — — — Non-U.S. certificates of deposit — — — — — 736 — 736 Commercial Paper — 999 — 999 — — — — Money market funds 2,054 — — 2,054 1,184 — — 1,184 Total cash equivalents 3,054 7,367 — 10,421 1,184 2,538 — 3,722 Short-term investments: Municipal bonds — 109,388 — 109,388 — 180,041 — 180,041 Corporate bonds — 67,296 — 67,296 — 177,721 — 177,721 U.S. agency securities 3,893 — — 3,893 — — — — Commercial paper — 2,096 — 2,096 — 200 — 200 Non-U.S. certificates of deposit — 117,566 — 117,566 — 120,379 — 120,379 Total short-term investments 3,893 296,346 — 300,239 — 478,341 — 478,341 Other long-term investments: Common stock of non-U.S. corporations — 60,419 — 60,419 — 50,366 — 50,366 Total other long-term investments — 60,419 — 60,419 — 50,366 — 50,366 Total assets $6,947 $364,132 $— $371,079 $1,184 $531,245 $— $532,429

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Mar. 25, 2018
Goodwill [Line Items]
Schedule of Goodwill [Table Text Block]	Wolfspeed LED Products Lighting Products Consolidated Total Balance at June 25, 2017 $100,769 $180,278 $337,781 $618,828 Acquisition 246,278 — — 246,278 Goodwill impairment charges — — (247,455 ) (247,455 ) Balance at March 25, 2018 $347,047 $180,278 $90,326 $617,651 The goodwill impairment charges in the Lighting Products segment resulted from updating the Company's long range business strategy as described in Note 1.
Components of intangible assets, net	The following table presents the components of intangible assets, net (in thousands): March 25, 2018 June 25, 2017 Gross Accumulated Amortization Net Gross Accumulated Amortization Net Intangible assets with finite lives: Customer relationships $233,420 ($89,679 ) $143,741 $141,420 ($84,673 ) $56,747 Developed technology 226,728 (148,569 ) 78,159 181,728 (132,747 ) 48,981 Non-compete agreements 22,475 (10,617 ) 11,858 10,475 (10,398 ) 77 Trade names, finite-lived 520 (520 ) — 520 (520 ) — Patent and licensing rights 158,054 (70,656 ) 87,398 151,985 (63,155 ) 88,830 Total intangible assets with finite lives 641,197 (320,041 ) 321,156 486,128 (291,493 ) 194,635 Trade names, indefinite-lived 79,680 — 79,680 79,680 — 79,680 Total intangible assets $720,877 ($320,041 ) $400,836 $565,808 ($291,493 ) $274,315
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 24, 2018 (remainder of fiscal 2018) $13,588 June 30, 2019 38,032 June 28, 2020 32,591 June 27, 2021 31,153 June 26, 2022 27,831 Thereafter 177,961 Total future amortization expense $321,156

Loss Per Share (Tables)

Loss Per Share (Tables)	9 Months Ended
	Mar. 25, 2018
Earnings Per Share [Abstract]
Basic Loss Per Share Computation	The following table presents the computation of basic loss per share (in thousands, except per share amounts): Three Months Ended Nine Months Ended March 25, March 26, March 25, March 26, Net loss ($240,577 ) ($99,013 ) ($246,712 ) ($92,230 ) Weighted average common shares 100,140 97,346 99,046 98,791 Basic loss per share ($2.40 ) ($1.02 ) ($2.49 ) ($0.93 )
Diluted Loss Per Share Computation	The following computation reconciles the differences between the basic and diluted loss per share presentations (in thousands, except per share amounts): Three Months Ended Nine Months Ended March 25, March 26, March 25, March 26, Net loss ($240,577 ) ($99,013 ) ($246,712 ) ($92,230 ) Weighted average common shares - basic 100,140 97,346 99,046 98,791 Dilutive effect of stock options, nonvested shares and Employee Stock Purchase Plan purchase rights — — — — Weighted average common shares - diluted 100,140 97,346 99,046 98,791 Diluted loss per share ($2.40 ) ($1.02 ) ($2.49 ) ($0.93 )

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Mar. 25, 2018
Share-based Compensation [Abstract]
Summary of Outstanding Option Awards	The following table summarizes stock option awards outstanding as of March 25, 2018 and changes during the nine months then ended (numbers of shares in thousands): Number of Shares Weighted Average Exercise Price Outstanding at June 25, 2017 10,604 $38.27 Granted 53 $24.66 Exercised (1,988 ) $27.97 Forfeited or expired (1,548 ) $49.13 Outstanding at March 25, 2018 7,121 $38.69
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 25, 2018 , 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 25, 2017 2,412 $26.74 Granted 2,305 $26.47 Vested (677 ) $29.24 Forfeited (532 ) $24.57 Nonvested at March 25, 2018 3,508 $26.41
Summary of Total Stock-Based Compensation Expense	Total stock-based compensation expense was as follows (in thousands): Three Months Ended Nine Months Ended March 25, March 26, March 25, March 26, Income Statement Classification: Cost of revenue, net $1,729 $2,229 $5,402 $8,012 Research and development 2,374 2,542 6,830 8,468 Sales, general and administrative 7,056 6,790 21,087 21,937 Total stock-based compensation expense $11,159 $11,561 $33,319 $38,417

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Mar. 25, 2018
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 25, 2017 $27,919 Warranties accrued in current period 19,753 Expenditures (13,071 ) Balance at March 25, 2018 $34,601

Reportable Segments (Tables)

Reportable Segments (Tables)	9 Months Ended
	Mar. 25, 2018
Segment Reporting [Abstract]
Revenues, Gross Profit, Gross Margin, and Inventories by Segment	Inventories for each of the Company's segments were as follows (in thousands): March 25, June 25, Wolfspeed $56,261 $26,453 LED Products 102,078 108,297 Lighting Products 147,131 145,710 Total segment inventories 305,470 280,460 Unallocated inventories 4,388 3,925 Consolidated inventories $309,858 $284,385 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 25, March 26, March 25, March 26, Revenue: Wolfspeed revenue $81,902 $56,133 $218,628 $160,401 LED Products revenue 143,298 131,327 440,500 406,858 Lighting Products revenue 130,758 154,045 425,098 546,805 Total revenue $355,958 $341,505 $1,084,226 $1,114,064 Gross Profit and Gross Margin: Wolfspeed gross profit $39,285 $26,396 $105,816 $74,737 Wolfspeed gross margin 48.0 % 47.0 % 48.4 % 46.6 % LED Products gross profit 37,764 32,385 115,180 115,499 LED Products gross margin 26.4 % 24.7 % 26.1 % 28.4 % Lighting Products gross profit 24,956 35,355 79,803 159,415 Lighting Products gross margin 19.1 % 23.0 % 18.8 % 29.2 % Total segment gross profit 102,005 94,136 300,799 349,651 Unallocated costs (2,949 ) (3,459 ) (8,808 ) (13,077 ) Depreciation and amortization adjustment — (4,601 ) — — Consolidated gross profit $99,056 $86,076 $291,991 $336,574 Consolidated gross margin 27.8 % 25.2 % 26.9 % 30.2 %

Basis of Presentation and New32

Basis of Presentation and New Accounting Standards Narrative (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 25, 2018USD ($)reportable_segments	Mar. 26, 2017USD ($)	Mar. 25, 2018USD ($)	Mar. 26, 2017USD ($)	Jun. 25, 2017USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of Reportable Segments | reportable_segments	3
Goodwill [Line Items]
Goodwill, Impairment Loss	$ 247,455	$ 0	$ 247,455	$ 0
Goodwill	617,651		617,651		$ 618,828
Power and RF Products
Goodwill [Line Items]
Goodwill	347,000		347,000
LED Products
Goodwill [Line Items]
Goodwill	180,300		180,300
Lighting Products
Goodwill [Line Items]
Goodwill	$ 90,300		$ 90,300

Joint Venture (Details)

Joint Venture (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 25, 2018	Mar. 26, 2017	Mar. 25, 2018	Mar. 26, 2017
Noncontrolling Interest [Line Items]
Net income attributable to noncontrolling interest	$ 44	$ 0	$ 59	$ 0
Payments to Acquire Interest in Joint Venture			$ 5,100
Noncontrolling Interest, Ownership Percentage by Parent	51.00%		51.00%
Proceeds from issuing shares to non-controlling interest			$ 4,900	$ 0
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	49.00%		49.00%

Acquisition Acquisition (Detail

Acquisition Acquisition (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended		12 Months Ended
	Mar. 25, 2018	Sep. 24, 2017	Sep. 25, 2016	Mar. 25, 2018	Mar. 26, 2017	Jun. 26, 2016	Mar. 06, 2018	Jun. 25, 2017
Purchase Price Allocation [Line Items]
Business Acquisition, Goodwill, Expected Tax Deductible Amount							$ 246,000
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual	$ 4,191
Business Acquisition, Transaction Costs	$ 3,100			$ 3,100
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory							24,931
Business Acquisition, Date of Acquisition Agreement	Mar. 6, 2018
Business Acquisition, Name of Acquired Entity	Infineon Technologies AG (Infineon) Radio Frequency Power Business (RF Power)
Business Combination, Consideration Transferred	$ 427,000
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability		$ 1,900	$ 2,800	1,850	$ 2,775
Cash consideration paid to shareholders						$ 13,800
Business Combination, Contingent Consideration, Liability						$ 4,600
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment							10,504
Goodwill, Acquired During Period	246,278
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets							430,713
Finite-Lived Intangible Assets, Gross							149,000
Goodwill	617,651			$ 617,651				$ 618,828
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable							(39)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities							(3,264)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities							(290)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities							(3,593)
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net							427,120
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual	$ (2,325)
Developed technology
Purchase Price Allocation [Line Items]
Finite-Lived Intangible Assets, Gross							44,000
Finite-Lived Intangible Asset, Useful Life	14 years
Customer relationships
Purchase Price Allocation [Line Items]
Finite-Lived Intangible Assets, Gross							92,000
Finite-Lived Intangible Asset, Useful Life	15 years
Leases, Acquired-in-Place, Market Adjustment [Member]
Purchase Price Allocation [Line Items]
Finite-Lived Intangible Assets, Gross							1,000
Leases, Acquired-in-Place [Member]
Purchase Price Allocation [Line Items]
Finite-Lived Intangible Asset, Useful Life	10 years
Non-compete agreements
Purchase Price Allocation [Line Items]
Finite-Lived Intangible Assets, Gross							$ 12,000
Finite-Lived Intangible Asset, Useful Life	4 years

Acquisition Pro Forma Financial

Acquisition Pro Forma Financials (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 25, 2018	Mar. 26, 2017	Mar. 25, 2018	Mar. 26, 2017
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Business Acquisition, Pro Forma Revenue	$ 370,939	$ 365,771	$ 1,149,645	$ 1,202,199
Business Acquisition, Pro Forma Net Income (Loss)	$ (237,189)	$ (101,142)	$ (247,614)	$ (97,542)
Business Acquisition, Pro Forma Earnings Per Share, Basic	$ 0	$ 0	$ 0	$ 0
Business Acquisition, Pro Forma Earnings Per Share, Diluted	$ 0	$ 0	$ 0	$ 0

Financial Statement Details (Su

Financial Statement Details (Summary of the Components of Accounts Receivable, Net) (Details) - USD ($) $ in Thousands	Mar. 25, 2018	Jun. 25, 2017
Accounts Receivable, Net, Current [Abstract]
Accounts receivable, gross	$ 205,753	$ 206,428
Allowance for sales returns, discounts and other incentives	(53,635)	(49,425)
Allowance for bad debts	(8,781)	(8,611)
Accounts receivable, net	143,337	148,392
Billed trade receivables
Accounts Receivable, Net, Current [Abstract]
Accounts receivable, gross	204,675	205,516
Unbilled contract receivables
Accounts Receivable, Net, Current [Abstract]
Accounts receivable, gross	$ 1,078	$ 912

Financial Statement Details (37

Financial Statement Details (Summary of the Components of Inventories) (Details) - USD ($) $ in Thousands	Mar. 25, 2018	Jun. 25, 2017
Inventory, Net [Abstract]
Raw material	$ 90,455	$ 73,410
Work-in-progress	109,457	100,402
Finished goods	109,946	110,573
Inventories	$ 309,858	$ 284,385

Financial Statement Details (38

Financial Statement Details (Summary of the Components of Other Current Liabilities) (Details) - USD ($) $ in Thousands	Mar. 25, 2018	Jun. 25, 2017
Accrued Liabilities, Current [Abstract]
Accrued taxes	$ 8,368	$ 11,148
Accrued professional fees	5,991	5,545
Accrued warranty	12,391	13,631
Accrued other	9,171	6,654
Other current liabilities	$ 35,921	$ 36,978

Financial Statement Details (39

Financial Statement Details (Summary of the Components of Accumulated Other Comprehensive Income, Net of Taxes) (Details) - USD ($) $ in Thousands	Mar. 25, 2018	Jun. 25, 2017
Financial Statement Details [Abstract]
Currency translation gain	$ 6,478	$ 4,471
Net unrealized (loss) gain on available-for-sale securities	(4,532)	1,438
Accumulated other comprehensive income, net of taxes	$ 1,946	$ 5,909

Financial Statement Details (40

Financial Statement Details (Summary of the Components of Non-operating Income, Net) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 25, 2018	Mar. 26, 2017	Mar. 25, 2018	Mar. 26, 2017
Other Income and Expenses [Abstract]
Foreign currency gain, net	$ 3,641	$ 2,434	$ 4,869	$ 1,939
(Loss) gain on sale of investments, net	(133)	1	(85)	13
(Loss) gain on equity investment, net	(13,968)	6,443	7,510	160
Interest income, net	743	927	3,360	2,714
Other, net	66	60	357	120
Non-operating (expense) income, net	$ (9,651)	$ 9,865	$ 16,011	$ 4,946

Financial Statement Details (41

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. 25, 2018	Mar. 26, 2017	Mar. 25, 2018	Mar. 26, 2017
Reclassification Out of Accumulated Other Comprehensive Income [Line Items]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax	$ (133)	$ 1	$ (85)	$ 13
Reclassification out of Accumulated Other Comprehensive Income | Accumulated Net Unrealized Investment Gain (Loss)
Reclassification Out of Accumulated Other Comprehensive Income [Line Items]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax	(133)	1	(85)	13
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax	0	0	0	0
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax	$ (133)	$ 1	$ (85)	$ 13

Investments (Summary of Short-t

Investments (Summary of Short-term Investments by Type) (Details) - USD ($) $ in Thousands	Mar. 25, 2018	Jun. 25, 2017
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 302,325	$ 474,460
Gross Unrealized Gains	42	4,144
Gross Unrealized Losses	(2,128)	(263)
Estimated Fair Value	300,239	478,341
Available-for-sale Securities, Debt Securities, Current	300,239	478,341
Municipal Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	110,504	177,890
Gross Unrealized Gains	6	2,219
Gross Unrealized Losses	(1,122)	(68)
Estimated Fair Value	109,388	180,041
Available-for-sale Securities, Debt Securities, Current	109,388
Corporate Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	68,238	175,991
Gross Unrealized Gains	36	1,925
Gross Unrealized Losses	(978)	(195)
Estimated Fair Value	67,296	177,721
Available-for-sale Securities, Debt Securities, Current	67,296
US Government Agencies Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	3,921	0
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(28)	0
Estimated Fair Value	3,893	0
Available-for-sale Securities, Debt Securities, Current	3,893
Commercial Paper [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	2,096	200
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	2,096	200
Available-for-sale Securities, Debt Securities, Current	2,096
Non-US [Member] | Certificates of Deposit [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	117,566	120,379
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Estimated Fair Value	117,566	$ 120,379
Available-for-sale Securities, Debt Securities, Current	$ 117,566

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. 25, 2018USD ($)	Jun. 25, 2017USD ($)
Schedule of Available-for-sale Securities [Line Items]
Fair Value, Less than 12 Months	$ 162,926	$ 84,220
Unrealized Loss, Less than 12 Months	(1,983)	(263)
Fair Value, Greater than 12 Months	5,159	0
Unrealized Loss, Greater than 12 Months	(145)	0
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	168,085	84,220
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	$ 2,128	$ 263
Number of Securities with an Unrealized Loss, Less than 12 Months	134	67
Number of Securities with an Unrealized Loss, Greater than 12 Months	6	0
Number of Securities with an Unrealized Loss, Total	140	67
Municipal Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value, Less than 12 Months	$ 98,251	$ 26,816
Unrealized Loss, Less than 12 Months	(988)	(68)
Fair Value, Greater than 12 Months	3,666	0
Unrealized Loss, Greater than 12 Months	(87)	0
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	101,917	26,816
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	1,075	68
Corporate Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value, Less than 12 Months	56,160	57,404
Unrealized Loss, Less than 12 Months	(967)	(195)
Fair Value, Greater than 12 Months	1,493	0
Unrealized Loss, Greater than 12 Months	(58)	0
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	57,653	57,404
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	1,025	195
US Government Agencies Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value, Less than 12 Months	8,515	0
Unrealized Loss, Less than 12 Months	(28)	0
Fair Value, Greater than 12 Months	0	0
Unrealized Loss, Greater than 12 Months	0	0
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	8,515	0
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss	$ 28	$ 0

Investments (Contractual Maturi

Investments (Contractual Maturities of Short-term Investments by Type) (Details) - USD ($) $ in Thousands	Mar. 25, 2018	Jun. 25, 2017
Schedule of Available-for-sale Securities [Line Items]
Within One Year	$ 119,099
After One, Within Five Years	173,710
After Five, Within Ten Years	7,430
After Ten Years	0
Total short-term investments	300,239	$ 478,341
Commercial Paper [Member]
Schedule of Available-for-sale Securities [Line Items]
Within One Year	2,096
After One, Within Five Years	0
After Five, Within Ten Years	0
After Ten Years	0
Total short-term investments	2,096
Municipal Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Within One Year	0
After One, Within Five Years	109,388
After Five, Within Ten Years	0
After Ten Years	0
Total short-term investments	109,388
Corporate Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Within One Year	4,161
After One, Within Five Years	55,705
After Five, Within Ten Years	7,430
After Ten Years	0
Total short-term investments	67,296
US Government Agencies Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Within One Year	0
After One, Within Five Years	3,893
After Five, Within Ten Years	0
After Ten Years	0
Total short-term investments	3,893
Non-US [Member] | Certificates of Deposit [Member]
Schedule of Available-for-sale Securities [Line Items]
Within One Year	112,842
After One, Within Five Years	4,724
After Five, Within Ten Years	0
After Ten Years	0
Total short-term investments	$ 117,566

Fair Value of Financial Instr45

Fair Value of Financial Instruments (Financial Instruments Carried at Fair Value) (Details) - USD ($)	Mar. 25, 2018	Jun. 25, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value transfers level 1 to level 2	$ 0
Assets, Fair Value Disclosure [Abstract]
Short-term investments	300,239,000	$ 478,341,000
Other long-term investments	60,419,000	50,366,000
Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	10,421,000	3,722,000
Short-term investments	300,239,000	478,341,000
Other long-term investments	60,419,000	50,366,000
Total assets	371,079,000	532,429,000
Municipal Bonds
Assets, Fair Value Disclosure [Abstract]
Short-term investments	109,388,000	180,041,000
Municipal Bonds | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Short-term investments	109,388,000	180,041,000
Corporate Bonds
Assets, Fair Value Disclosure [Abstract]
Short-term investments	67,296,000	177,721,000
Corporate Bonds | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Short-term investments	67,296,000	177,721,000
US Government Agencies Debt Securities
Assets, Fair Value Disclosure [Abstract]
Short-term investments	3,893,000	0
US Government Agencies Debt Securities | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Short-term investments	3,893,000	0
Common stock of non-U.S. corporations | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Other long-term investments	60,419,000	50,366,000
Commercial Paper
Assets, Fair Value Disclosure [Abstract]
Short-term investments	2,096,000	200,000
Commercial Paper | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Short-term investments	2,096,000	200,000
US Government Agencies Debt Securities | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	7,368,000	0
Commercial Paper | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	999,000
Municipal Bonds | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	0	1,802,000
Money Market Funds | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	2,054,000	1,184,000
Non-US | Certificates of Deposit
Assets, Fair Value Disclosure [Abstract]
Short-term investments	117,566,000	120,379,000
Non-US | Certificates of Deposit | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Short-term investments	117,566,000	120,379,000
Non-US | Certificates of Deposit | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	0	736,000
Level 1 | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	3,054,000	1,184,000
Short-term investments	3,893,000	0
Other long-term investments	0	0
Total assets	6,947,000	1,184,000
Level 1 | Municipal Bonds | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Short-term investments	0	0
Level 1 | Corporate Bonds | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Short-term investments	0	0
Level 1 | US Government Agencies Debt Securities | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Short-term investments	3,893,000	0
Level 1 | Common stock of non-U.S. corporations | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Other long-term investments	0	0
Level 1 | Commercial Paper | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Short-term investments	0	0
Level 1 | US Government Agencies Debt Securities | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	1,000,000	0
Level 1 | Commercial Paper | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	0	0
Level 1 | Municipal Bonds | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	0	0
Level 1 | Money Market Funds | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	2,054,000	1,184,000
Level 1 | Non-US | Certificates of Deposit | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Short-term investments	0	0
Level 1 | Non-US | Certificates of Deposit | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	0	0
Level 2 | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	7,367,000	2,538,000
Short-term investments	296,346,000	478,341,000
Other long-term investments	60,419,000	50,366,000
Total assets	364,132,000	531,245,000
Level 2 | Municipal Bonds | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Short-term investments	109,388,000	180,041,000
Level 2 | Corporate Bonds | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Short-term investments	67,296,000	177,721,000
Level 2 | US Government Agencies Debt Securities | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Short-term investments	0	0
Level 2 | Common stock of non-U.S. corporations | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Other long-term investments	60,419,000	50,366,000
Level 2 | Commercial Paper | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Short-term investments	2,096,000	200,000
Level 2 | US Government Agencies Debt Securities | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	6,368,000	0
Level 2 | Commercial Paper | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	999,000	0
Level 2 | Municipal Bonds | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	0	1,802,000
Level 2 | Money Market Funds | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	0	0
Level 2 | Non-US | Certificates of Deposit | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Short-term investments	117,566,000	120,379,000
Level 2 | Non-US | Certificates of Deposit | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	0	736,000
Level 3 | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	0	0
Short-term investments	0	0
Other long-term investments	0	0
Total assets	0	0
Level 3 | Municipal Bonds | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Short-term investments	0	0
Level 3 | Corporate Bonds | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Short-term investments	0	0
Level 3 | US Government Agencies Debt Securities | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Short-term investments	0	0
Level 3 | Common stock of non-U.S. corporations | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Other long-term investments	0	0
Level 3 | Commercial Paper | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Short-term investments	0	0
Level 3 | US Government Agencies Debt Securities | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	0	0
Level 3 | Commercial Paper | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	0	0
Level 3 | Municipal Bonds | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	0	0
Level 3 | Money Market Funds | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	0	0
Level 3 | Non-US | Certificates of Deposit | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Short-term investments	0	0
Level 3 | Non-US | Certificates of Deposit | Fair value of assets and liabilities measured on a recurring basis
Assets, Fair Value Disclosure [Abstract]
Cash equivalents	$ 0	$ 0

Intangible Assets (Components o

Intangible Assets (Components of intangible assets, net) (Details) - USD ($) $ in Thousands	Mar. 25, 2018	Jun. 25, 2017
Intangible Assets [Line Items]
Finite-lived intangible assets, gross	$ 641,197	$ 486,128
Finite-lived intangible assets, accumulated amortization	(320,041)	(291,493)
Finite-lived intangible assets, net	321,156	194,635
Trade names, indefinite-lived	79,680	79,680
Intangible Assets, Gross (Excluding Goodwill)	720,877	565,808
Intangible assets, net	400,836	274,315
Customer relationships
Intangible Assets [Line Items]
Finite-lived intangible assets, gross	233,420	141,420
Finite-lived intangible assets, accumulated amortization	(89,679)	(84,673)
Finite-lived intangible assets, net	143,741	56,747
Developed technology
Intangible Assets [Line Items]
Finite-lived intangible assets, gross	226,728	181,728
Finite-lived intangible assets, accumulated amortization	(148,569)	(132,747)
Finite-lived intangible assets, net	78,159	48,981
Non-compete agreements
Intangible Assets [Line Items]
Finite-lived intangible assets, gross	22,475	10,475
Finite-lived intangible assets, accumulated amortization	(10,617)	(10,398)
Finite-lived intangible assets, net	11,858	77
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	158,054	151,985
Finite-lived intangible assets, accumulated amortization	(70,656)	(63,155)
Finite-lived intangible assets, net	$ 87,398	$ 88,830

Intangible Assets Intangible As

Intangible Assets Intangible Assets (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 25, 2018	Mar. 26, 2017	Mar. 25, 2018	Mar. 26, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of Intangible Assets	$ 10.6	$ 13	$ 30.4	$ 29.9

Intangible Assets Intangible 48

Intangible Assets Intangible Assets (Schedule of future amortization expense of finite-lived intangible assets) (Details) - USD ($) $ in Thousands	Mar. 25, 2018	Jun. 25, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
June 24, 2018 (remainder of fiscal 2018)	$ 13,588
June 30, 2019	38,032
June 28, 2020	32,591
June 27, 2021	31,153
June 26, 2022	27,831
Thereafter	177,961
Finite-lived intangible assets, net	$ 321,156	$ 194,635

Intangible Assets Goodwill (Det

Intangible Assets Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 25, 2018	Mar. 26, 2017	Mar. 25, 2018	Mar. 26, 2017	Jun. 25, 2017
Goodwill [Line Items]
Goodwill	$ 617,651		$ 617,651		$ 618,828
Goodwill, Acquired During Period	246,278
Goodwill, Impairment Loss	(247,455)	$ 0	(247,455)	$ 0
Power and RF Products
Goodwill [Line Items]
Goodwill	347,047		347,047		100,769
Goodwill, Acquired During Period	246,278
Goodwill, Impairment Loss	0
LED Products
Goodwill [Line Items]
Goodwill	180,278		180,278		180,278
Goodwill, Acquired During Period	0
Goodwill, Impairment Loss	0
Lighting Products
Goodwill [Line Items]
Goodwill	90,326		$ 90,326		$ 337,781
Goodwill, Acquired During Period	0
Goodwill, Impairment Loss	$ (247,455)

Long-term Debt (Narrative) (Det

Long-term Debt (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 25, 2018	Mar. 25, 2018	Jun. 25, 2017
Long-term Debt, Unclassified [Abstract]
Line of Credit Facility, Maximum Borrowing Capacity	$ 500,000	$ 500,000
Line of Credit, Maturity Date		Jan. 9, 2022
Long-term debt	316,000	$ 316,000	$ 145,000
Line of Credit Facility, Remaining Borrowing Capacity	$ 184,000	$ 184,000
Long-term Debt, Average Interest Rate	2.19%	1.93%
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.10%	0.10%

Shareholders' Equity (Narrative

Shareholders' Equity (Narrative) (Details) - Common Stock [Member] shares in Millions, $ in Millions	9 Months Ended
	Mar. 25, 2018USD ($)shares
Class of Stock [Line Items]
Stock Repurchase Program, Authorized Amount | $	$ 200
Repurchased share number | shares	0

Loss Per Share (Basic Loss Per

Loss Per Share (Basic Loss Per Share Computation) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 25, 2018	Mar. 26, 2017	Mar. 25, 2018	Mar. 26, 2017
Earnings Per Share, Basic [Abstract]
Net loss	$ (240,577)	$ (99,013)	$ (246,712)	$ (92,230)
Weighted average common shares - basic	100,140	97,346	99,046	98,791
Basic loss per share	$ (2.40)	$ (1.02)	$ (2.49)	$ (0.93)

Loss Per Share (Diluted Loss Pe

Loss Per Share (Diluted Loss Per Share Computation) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 25, 2018	Mar. 26, 2017	Mar. 25, 2018	Mar. 26, 2017
Earnings Per Share, Diluted [Abstract]
Net loss	$ (240,577)	$ (99,013)	$ (246,712)	$ (92,230)
Net Loss, Including Portion Attributable to Noncontrolling Interest	$ (240,533)	$ (99,013)	$ (246,653)	$ (92,230)
Weighted average common shares - basic	100,140	97,346	99,046	98,791
Dilutive effect of stock options, nonvested shares and Employee Stock Purchase Plan purchase rights	0	0	0	0
Weighted average common shares - diluted	100,140	97,346	99,046	98,791
Diluted loss per share	$ (2.40)	$ (1.02)	$ (2.49)	$ (0.93)

Loss Per Share (Narrative) (Det

Loss Per Share (Narrative) (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Mar. 25, 2018	Mar. 26, 2017	Mar. 25, 2018	Mar. 26, 2017
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	3.8	11.3	4.4	11.5

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details)	9 Months Ended
	Mar. 25, 2018plans
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. 25, 2018$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding number of shares at beginning of period | shares	10,604
Granted, number of shares | shares	53
Exercised, number of shares | shares	(1,988)
Forfeited or expired, number of shares | shares	(1,548)
Outstanding number of shares at end of period | shares	7,121
Outstanding weighted-average exercise price at beginning of period | $ / shares	$ 38.27
Granted, weighted-average exercise price | $ / shares	24.66
Exercised, weighted-average exercise price | $ / shares	27.97
Forfeited or expired, weighted-average exercise price | $ / shares	49.13
Outstanding weighted-average exercised price at end of period | $ / shares	$ 38.69

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. 25, 2018$ / 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	2,412
Granted, Number of RSAs/RSUs | shares	2,305
Vested, number of RSAs/RSUs | shares	(677)
Forfeited, number of RSAs/RSUs | shares	(532)
Nonvested, Number of RSAs/RSUs at end of period | shares	3,508
Nonvested, weighted-average grant-date fair value at beginning of period | $ / shares	$ 26.74
Granted, weighted-average grant-date fair value | $ / shares	26.47
Vested, weighted-average grant-date fair value | $ / shares	29.24
Forfeited, weighted-average grant-date fair value | $ / shares	24.57
Nonvested, weighted-average grant-date fair value at end of period | $ / shares	$ 26.41

Stock-Based Compensation (Total

Stock-Based Compensation (Total Stock-Based Compensation Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 25, 2018	Mar. 26, 2017	Mar. 25, 2018	Mar. 26, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 11,159	$ 11,561	$ 33,319	$ 38,417
Cost of revenue, net [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	1,729	2,229	5,402	8,012
Research and development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	2,374	2,542	6,830	8,468
Selling, general and administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 7,056	$ 6,790	$ 21,087	$ 21,937

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Mar. 25, 2018	Mar. 25, 2018	Jun. 25, 2017
Operating Loss Carryforwards [Line Items]
U.S. statutory tax rate		28.30%
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount	$ 18.8
Document Period End Date		Mar. 25, 2018
Effective Income Tax Rate Reconciliation, Repatriation of Foreign Earnings, Amount	1.3
Deferred Tax Liability Not Recognized, Amount of Unrecognized Deferred Tax Liability, Undistributed Earnings of Foreign Subsidiaries	1.5	$ 1.5
Foreign Earnings Repatriated		184.6
Deferred Tax Liabilities, Undistributed Foreign Earnings	$ 14.1	14.1
Deferred Tax Liability Not Recognized, Description of Temporary Difference, Undistributed Earnings of Foreign Subsidiaries	1,600
Undistributed Earnings of Foreign Subsidiaries	$ 215.4	215.4
Unrecognized tax benefits balance	8.9	8.9	$ 13.3
Unrecognized Tax Benefits, Period Increase		0.6
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations	0.3
Unrecognized Tax Benefits, Period Decrease		4.7
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit	$ 0.8	0.8
Domestic Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Deferred Tax Assets, Valuation Allowance, Current			101.8
Valuation Allowance, Deferred Tax Asset Decrease, Amount		(7)
Foreign Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Deferred Tax Assets, Valuation Allowance, Current			$ 5.8
Valuation Allowance, Deferred Tax Asset Decrease, Amount		$ (1.1)

Commitments and Contingencies60

Commitments and Contingencies (Warranties) (Details) $ in Thousands	9 Months Ended
	Mar. 25, 2018USD ($)
Standard and Extended Product Warranty Accrual Roll Forward
Warranty accrual, beginning balance	$ 27,919
Warranties accrued in current period	19,753
Expenditures	(13,071)
Warranty accrual, ending balance	34,601
Product Warranty Liability, Long-Term	$ 22,200
Minimum
Standard and Extended Product Warranty Accrual Roll Forward
Product Warranty, Range Period	90 days
Maximum
Standard and Extended Product Warranty Accrual 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. 25, 2018	Mar. 26, 2017	Mar. 25, 2018	Mar. 26, 2017
Segment Reporting Information [Line Items]
Revenue, net	$ 355,958	$ 341,505	$ 1,084,226	$ 1,114,064
Gross profit	99,056	86,076	291,991	336,574
Cost of revenue, net	$ 256,902	$ 255,429	$ 792,235	$ 777,490
Gross margin	27.80%	25.20%	26.90%	30.20%
Power and RF Products
Segment Reporting Information [Line Items]
Revenue, net	$ 81,902	$ 56,133	$ 218,628	$ 160,401
Gross profit	$ 39,285	$ 26,396	$ 105,816	$ 74,737
Gross margin	48.00%	47.00%	48.40%	46.60%
LED Products
Segment Reporting Information [Line Items]
Revenue, net	$ 143,298	$ 131,327	$ 440,500	$ 406,858
Gross profit	$ 37,764	$ 32,385	$ 115,180	$ 115,499
Gross margin	26.40%	24.70%	26.10%	28.40%
Lighting Products
Segment Reporting Information [Line Items]
Revenue, net	$ 130,758	$ 154,045	$ 425,098	$ 546,805
Gross profit	$ 24,956	$ 35,355	$ 79,803	$ 159,415
Gross margin	19.10%	23.00%	18.80%	29.20%
Total segment gross profit
Segment Reporting Information [Line Items]
Gross profit	$ 102,005	$ 94,136	$ 300,799	$ 349,651
Unallocated Costs
Segment Reporting Information [Line Items]
Cost of revenue, net	(2,949)	(3,459)	(8,808)	(13,077)
Depreciation Expense on Reclassified Assets	$ 0	$ (4,601)	$ 0	$ 0

Reportable Segments Schedule of

Reportable Segments Schedule of Inventory by Reportable Segment (Details) - USD ($) $ in Thousands	Mar. 25, 2018	Jun. 25, 2017
Segment Reporting Information [Line Items]
Inventories	$ 309,858	$ 284,385
Power and RF Products
Segment Reporting Information [Line Items]
Inventories	56,261	26,453
LED Products
Segment Reporting Information [Line Items]
Inventories	102,078	108,297
Lighting Products
Segment Reporting Information [Line Items]
Inventories	147,131	145,710
Total segment inventories
Segment Reporting Information [Line Items]
Inventories	305,470	280,460
Unallocated inventories
Segment Reporting Information [Line Items]
Inventories	$ 4,388	$ 3,925