FormFactor (FORM) 10-Q7 May 242024 Q1 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 30, 2024	May 01, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 30, 2024
Document Transition Report	false
Entity File Number	000-50307
Entity Registrant Name	FormFactor, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-3711155
Entity Address, Address Line One	7005 Southfront Road
Entity Address, City or Town	Livermore
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94551
City Area Code	925
Local Phone Number	290-4000
Title of 12(b) Security	Common stock, $0.001 par value
Trading Symbol	FORM
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		77,170,041
Amendment Flag	false
Entity Central Index Key	0001039399
Current Fiscal Year End Date	--12-28
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 30, 2024	Dec. 30, 2023
Current assets:
Cash and cash equivalents	$ 186,296	$ 177,812
Marketable securities	162,863	150,507
Accounts receivable, net of allowance for credit losses of $501 and $501	96,407	102,957
Inventories, net	108,774	111,685
Restricted cash	5,865	1,152
Prepaid expenses and other current assets	28,291	29,667
Total current assets	588,496	573,780
Restricted cash	2,220	2,309
Operating lease, right-of-use-assets	28,543	30,519
Property, plant and equipment, net of accumulated depreciation	205,772	204,399
Goodwill	199,653	201,090
Intangibles, net	12,297	12,938
Deferred tax assets	80,007	78,964
Other assets	2,810	2,795
Total assets	1,119,798	1,106,794
Current liabilities:
Accounts payable	65,995	63,857
Accrued liabilities	37,716	41,037
Current portion of term loan, net of unamortized issuance costs	1,083	1,075
Deferred revenue	17,519	16,704
Operating lease liabilities	8,245	8,422
Total current liabilities	130,558	131,095
Term loan, less current portion, net of unamortized issuance costs	13,041	13,314
Long-term operating lease liabilities	23,432	25,334
Deferred grant	18,000	18,000
Other liabilities	11,017	10,247
Total liabilities	196,048	197,990
Stockholders’ equity:
Common stock, $0.001 par value	77	77
Additional paid-in capital	857,326	861,448
Accumulated other comprehensive loss	(6,765)	(4,052)
Accumulated income	73,112	51,331
Total stockholders’ equity	923,750	908,804
Total liabilities and stockholders’ equity	$ 1,119,798	$ 1,106,794

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 30, 2024	Dec. 30, 2023
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 501	$ 501
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	250,000,000	250,000,000
Common stock, shares issued (in shares)	77,241,118	77,376,903
Common stock, shares outstanding (in shares)	77,241,118	77,376,903

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 30, 2024	Apr. 01, 2023
Income Statement [Abstract]
Revenues	$ 168,725	$ 167,448
Cost of revenues	105,987	106,370
Gross profit	62,738	61,078
Operating expenses:
Research and development	28,627	28,245
Selling, general and administrative	33,079	32,742
Total operating expenses	61,706	60,987
Gain (loss) on disposition of business	20,271	0
Operating income	21,303	91
Interest income, net	3,156	1,276
Other income, net	520	23
Income before income taxes	24,979	1,390
Provision for income taxes	3,198	48
Net income	$ 21,781	$ 1,342
Net income per share:
Basic (in dollars per share)	$ 0.28	$ 0.02
Diluted (in dollars per share)	$ 0.28	$ 0.02
Weighted-average number of shares used in per share calculations:
Basic (in shares)	77,452	77,066
Diluted (in shares)	78,490	77,255

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 30, 2024	Apr. 01, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 21,781	$ 1,342
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(2,283)	832
Unrealized gains (losses) on available-for-sale marketable securities	(198)	603
Unrealized losses on derivative instruments	(232)	(43)
Other comprehensive income (loss)	(2,713)	1,392
Comprehensive income	$ 19,068	$ 2,734

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Accumulated Income (Deficit)
Beginning balance (in shares) at Dec. 31, 2022		76,914,590
Beginning balance at Dec. 31, 2022	$ 808,285	$ 77	$ 844,842	$ (5,578)	$ (31,056)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under the Employee Stock Purchase Plan (in shares)		210,055
Issuance of common stock under the Employee Stock Purchase Plan	5,024		5,024
Issuance of common stock pursuant to vesting of restricted stock units, net of stock withheld for tax (in shares)		17,378
Issuance of common stock pursuant to vesting of restricted stock units, net of stock withheld for tax	(387)	$ 0	(387)
Stock-based compensation	8,716		8,716
Other comprehensive income (loss)	1,392			1,392
Net income	1,342				1,342
Ending balance (in shares) at Apr. 01, 2023		77,142,023
Ending balance at Apr. 01, 2023	824,372	$ 77	858,195	(4,186)	(29,714)
Beginning balance (in shares) at Dec. 31, 2022		76,914,590
Beginning balance at Dec. 31, 2022	$ 808,285	$ 77	844,842	(5,578)	(31,056)
Ending balance (in shares) at Dec. 30, 2023	77,376,903	77,376,903
Ending balance at Dec. 30, 2023	$ 908,804	$ 77	861,448	(4,052)	51,331
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under the Employee Stock Purchase Plan (in shares)		197,014
Issuance of common stock under the Employee Stock Purchase Plan	4,948		4,948
Issuance of common stock pursuant to vesting of restricted stock units, net of stock withheld for tax (in shares)		78,957
Issuance of common stock pursuant to vesting of restricted stock units, net of stock withheld for tax	(1,840)	$ 0	(1,840)
Purchase of common stock retired through repurchase program (in shares)		411,756
Purchase and retirement of common stock through repurchase program	(17,398)	$ 0	(17,398)
Stock-based compensation	10,168		10,168
Other comprehensive income (loss)	(2,713)			(2,713)
Net income	$ 21,781				21,781
Ending balance (in shares) at Mar. 30, 2024	77,241,118	77,241,118
Ending balance at Mar. 30, 2024	$ 923,750	$ 77	$ 857,326	$ (6,765)	$ 73,112

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 30, 2024	Apr. 01, 2023	Dec. 30, 2023
Cash flows from operating activities:
Net income	$ 21,781	$ 1,342
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	7,193	7,576
Amortization	640	2,378
Reduction in the carrying amount of right-of-use assets	1,415	1,690
Stock-based compensation expense	10,405	9,290
Deferred income tax benefit	(1,293)	(145)
Provision for excess and obsolete inventories	3,146	4,973
Gain (Loss) on Disposition of Business	(20,271)	0
Other adjustments to reconcile net income to net cash provided by operating activities	176	278
Changes in assets and liabilities:
Accounts receivable	6,466	(15,926)
Inventories	(4,926)	1,375
Prepaid expenses and other current assets	1,224	1,009
Other assets	17	(55)
Accounts payable	4,948	(1,819)
Accrued liabilities	(1,963)	(10,209)
Other liabilities	1,085	319
Deferred revenues	4,499	(6,046)
Deferred grant	0		$ 18,000
Operating lease liabilities	(1,530)	(1,721)
Net cash provided by operating activities	33,012	12,309
Cash flows from investing activities:
Acquisition of property, plant and equipment	(13,436)	(19,701)
Proceeds from sale of business	21,275	0
Purchases of marketable securities	(37,472)	(27,311)
Proceeds from maturities and sales of marketable securities	25,813	33,473
Net cash used in investing activities	(3,820)	(13,539)
Cash flows from financing activities:
Proceeds from issuances of common stock	4,948	5,024
Purchase of common stock through stock repurchase program	(17,334)	0
Tax withholdings related to net share settlements of equity awards	(1,840)	(387)
Payments on term loan	(266)	(259)
Net cash provided by (used in) financing activities	(14,492)	4,378
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(1,592)	(276)
Net increase in cash, cash equivalents and restricted cash	13,108	2,872
Cash, cash equivalents and restricted cash, beginning of period	181,273	112,982	112,982
Cash, cash equivalents and restricted cash, end of period	194,381	115,854	181,273
Non-cash investing and financing activities:
Decrease in accounts payable and accrued liabilities related to property, plant and equipment purchases	2,567	3,755
Operating lease, right-of-use assets obtained in exchange for lease obligations	0	727
Supplemental disclosure of cash flow information:
Cash paid for income taxes, net	1,423	7,391
Cash paid for interest	100	106
Operating cash outflows from operating leases	2,305	2,191
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	186,296	112,360	177,812
Restricted cash, current	5,865	1,207
Restricted cash, non-current	2,220	2,287
Total cash, cash equivalents and restricted cash	$ 194,381	$ 115,854	$ 181,273

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	3 Months Ended
Basis of Presentation and Significant Accounting Policies	Mar. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Significant Accounting Policies	Basis of Presentation and Significant Accounting Policies Basis of Presentation The accompanying condensed consolidated financial information of FormFactor, Inc. is unaudited and has been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). However, such information reflects all adjustments, consisting only of normal recurring adjustments, which are, in the opinion of management, necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods. The condensed consolidated financial statements included herein should be read in conjunction with the consolidated financial statements and the notes thereto included in our 2023 Annual Report on Form 10-K filed with the SEC on February 23, 2024. The results of operations for the interim periods presented are not necessarily indicative of the results to be expected for the full year. Fiscal Year We operate on a 52/53 week fiscal year, whereby the fiscal year ends on the last Saturday of December. Fiscal 2024 and 2023 each contain 52 weeks and the three months ended March 30, 2024 and April 1, 2023 each contained 13 weeks. Fiscal 2024 will end on December 28, 2024. Significant Accounting Policies Our significant accounting policies have not changed during the three months ended March 30, 2024 from those disclosed in our Annual Report on Form 10-K for the year ended December 30, 2023. Reclassifications Certain immaterial reclassifications were made to the prior year financial statements to conform to the current year presentation. New Accounting Pronouncements ASU 2023-09 In December 2023, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2023-09, “ Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ” The ASU includes requirements that an entity disclose specific categories in the rate reconciliation and provide additional information for reconciling items that are greater than five percent of the amount computed by multiplying pretax income by the applicable statutory income tax rate. The standard also requires that entities disclose income before income taxes and provision for income taxes disaggregated between domestic and foreign. This ASU is effective for annual periods beginning after December 15, 2024, with early adoption permitted. We have not yet determined the impact of this standard on our financial statements. ASU 2023-07 In November 2023, the FASB issued ASU 2023-07, “ Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures .” The ASU includes requirements that an entity disclose the title of the chief operating decision maker (“CODM”) and on an interim and annual basis, significant segment expenses and the composition of other segment items for each segment's reported profit. The standard also permits disclosure of additional measures of segment profit. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, on a retrospective basis, with early adoption permitted. We have not yet determined the impact of this standard on our financial statements.

Concentration of Credit and Oth

Concentration of Credit and Other Risks	3 Months Ended
Concentration of Credit and Other Risks	Mar. 30, 2024
Risks and Uncertainties [Abstract]
Concentration of Credit and Other Risks	Concentration of Credit and Other Risks Each of the following customers accounted for 10% or more of our revenues for the periods indicated: Three Months Ended March 30, April 1, Intel Corporation 15.7 % 20.0 % SK Hynix Inc. 15.5 * Samsung Electronics., LTD. 12.4 * 43.6 % 20.0 % At March 30, 2024 and December 30, 2023, two customers accounted for 19.0% and 13.5% and two customers accounted for 17.8% and 11.0% of gross accounts receivable, respectively.

Inventories, net

Inventories, net	3 Months Ended
Inventories, net	Mar. 30, 2024
Inventory Disclosure [Abstract]
Inventories, net	Inventories, net Inventories are stated at the lower of cost (principally standard cost, which approximates actual cost on a first in, first out basis) or net realizable value. Inventories, net, consisted of the following (in thousands): March 30, December 30, Raw materials $ 61,228 $ 50,808 Work-in-progress 28,753 39,336 Finished goods 18,793 21,541 $ 108,774 $ 111,685

Divestures

Divestures	3 Months Ended
Divestures	Mar. 30, 2024
Asset Retirement Obligation Disclosure [Abstract]
Divestures	Divestitures China Operations Divestiture On February 7, 2024, the Company entered into a definitive agreement to sell its China operations to Grand Junction Semiconductor Pte. Ltd. (“Grand Junction”) for $25.0 million in cash, subject to customary purchase price adjustments, and establish an exclusive distribution and partnership agreement to continue sales and support of our products in the region. The following subsidiaries were included as part of the divestiture: Microprobe Hong Kong Limited, FormFactor Technology (Suzhou) Co. Ltd., Cascade Microtech Singapore Pte, Ltd, and FormFactor International (Shanghai) Trading Co., Ltd. These entities supported the Probe Cards and Systems segments. On February 26, 2024, we closed on the sale of the operations in China to Grand Junction and received total consideration of $21.1 million, net of cash transferred and transaction expenses, and after customary adjustments for indebtedness and changes in net working capital. The disposition of the China operations did not meet the criteria to be classified as a discontinued operation in the Company’s financial statements because the disposition did not represent a strategic shift that had, or will have, a major effect on the Company’s operations and financial results. The following table summarizes the fair value of the sale proceeds received in connection with the divestiture, which are subject to further post-closing adjustment (in thousands): February 26, 2024 Gross purchase price $ 25,000 Estimated working capital adjustment (151) Cash transferred to the buyer at closing (2,743) Direct costs to sell (986) Fair value of sale consideration, net $ 21,120 The carrying amount of net assets associated with the China operations was approximately $1.2 million. The major classes of assets and liabilities sold consisted of the following (in thousands): February 26, 2024 ASSETS Accounts receivable, net $ 1,174 Inventories, net 3,729 Other current assets 391 Total current assets 5,294 Property, plant and equipment, net 1,283 Goodwill 1,117 Other assets 3,029 Total assets $ 10,723 LIABILITIES Deferred Revenue $ 3,739 Other current liabilities 1,546 Other liabilities 4,283 Total liabilities $ 9,568 As a result of the divestiture, the Company recognized a pre-tax gain of $20.0 million. The Company recorded an income tax liability associated with the divestiture of approximately $3.3 million. FRT Divestiture On September 18, 2023, the Company announced entry into a definitive agreement to sell its FRT Metrology (“FRT”) business to Camtek Ltd. (“Camtek”) for $100 million in cash, subject to customary purchase price adjustments. The Company acquired FRT GmbH in fiscal 2019 for total consideration of $24.4 million, net of cash acquired. Headquartered in Bergisch Gladbach, Germany, the FRT business is a leading supplier of high-precision metrology solutions for the Advanced Packaging and Silicon Carbide markets, and was part of the Company's Systems segment. On November 1, 2023, we closed on the sale of the FRT business to Camtek and received net cash proceeds of $100.1 million, net of cash transferred and transaction expenses, and after customary adjustments for indebtedness and changes in net working capital. The disposition of the FRT business did not meet the criteria to be classified as a discontinued operation in the Company’s financial statements because the disposition did not represent a strategic shift that had, or will have, a major effect on the Company’s operations and financial results. The following table summarizes the fair value of the sale proceeds received in connection with the divestiture (in thousands): November 1, 2023 Gross purchase price $ 99,100 Working capital adjustment 4,266 Cash transferred to the buyer at closing (2,049) Direct costs to sell (1,225) Fair value of sale consideration, net $ 100,092 The carrying amount of net assets associated with the FRT business was approximately $26.8 million. The major classes of assets and liabilities sold consisted of the following (in thousands): November 1, 2023 ASSETS Accounts receivable, net $ 7,738 Inventories, net 6,446 Other current assets 635 Total current assets 14,819 Intangibles, net 6,897 Goodwill 10,660 Other assets 1,612 Total assets $ 33,988 LIABILITIES Current liabilities $ 4,300 Other liabilities 2,856 Total liabilities $ 7,156 As a result of the divestiture, the Company recognized a pre-tax gain of $73.3 million. The Company recorded an income tax liability associated with the divestiture of approximately $6.0 million.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
Goodwill and Intangible Assets	Mar. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill by reportable segment was as follows (in thousands): Probe Cards Systems Total Goodwill, as of December 31, 2022 $ 178,424 $ 33,020 $ 211,444 Reduction - FRT divestiture — (10,660) (10,660) Foreign currency translation — 306 306 Goodwill, as of December 30, 2023 178,424 22,666 201,090 Reduction - China divestiture (1,055) (62) (1,117) Foreign currency translation — (320) (320) Goodwill, as of March 30, 2024 $ 177,369 $ 22,284 $ 199,653 We have not recorded goodwill impairments for the three months ended March 30, 2024. Intangible assets were as follows (in thousands): March 30, 2024 December 30, 2023 Intangible Assets Gross Accumulated Net Gross Accumulated Net Existing developed technologies $ 159,341 $ 148,642 $ 10,699 $ 159,593 $ 148,445 $ 11,148 Customer relationships 47,945 46,816 1,129 48,022 46,712 1,310 Trade name 7,779 7,710 69 7,808 7,728 80 In-process research and development 400 — 400 400 — 400 $ 215,465 $ 203,168 $ 12,297 $ 215,823 $ 202,885 $ 12,938 Amortization expense was included in our Condensed Consolidated Statements of Income as follows (in thousands): Three Months Ended March 30, April 1, Cost of revenues $ 449 $ 831 Selling, general and administrative 191 1,547 $ 640 $ 2,378 The estimated future amortization of definite-lived intangible assets, excluding in-process research and development, is as follows (in thousands): Fiscal Year Amount Remainder of 2024 $ 1,921 2025 2,330 2026 1,630 2027 1,630 2028 1,630 Thereafter 2,756 $ 11,897

Accrued Liabilities

Accrued Liabilities	3 Months Ended
Accrued Liabilities	Mar. 30, 2024
Payables and Accruals [Abstract]
Accrued Liabilities	Accrued Liabilities Accrued liabilities consisted of the following (in thousands): March 30, December 30, Accrued compensation and benefits $ 21,562 $ 20,073 Accrued income and other taxes 7,412 8,205 Accrued warranty 3,668 3,177 Employee stock purchase plan contributions withheld 1,829 4,263 Other accrued expenses 3,245 5,319 $ 37,716 $ 41,037

Fair Value and Derivative Instr

Fair Value and Derivative Instruments	3 Months Ended
Fair Value and Derivative Instruments	Mar. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value and Derivative Instruments	Fair Value and Derivative Instruments Whenever possible, the fair values of our financial assets and liabilities are determined using quoted market prices of identical securities or quoted market prices of similar securities from active markets. The three levels of inputs that may be used to measure fair value are as follows: • Level 1 valuations are obtained from real-time quotes for transactions in active exchange markets involving identical securities; • Level 2 valuations utilize significant observable inputs, such as quoted prices for similar assets or liabilities, quoted prices near the reporting date in markets that are less active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and • Level 3 valuations utilize unobservable inputs to the valuation methodology and include our own data about assumptions market participants would use in pricing the asset or liability based on the best information available under the circumstances. We did not have any transfers of assets or liabilities measured at fair value on a recurring basis to or from Level 1, Level 2 or Level 3 during the three months ended March 30, 2024 or the year ended December 30, 2023. The carrying values of Cash, Accounts receivable, net, Restricted cash, Prepaid expenses and other current assets, Accounts payable, and Accrued liabilities approximate fair value due to their short maturities. No changes were made to our valuation techniques during the first three months of fiscal 2024. Assets and Liabilities Measured at Fair Value on a Recurring Basis Assets and liabilities measured at fair value on a recurring basis were as follows (in thousands): March 30, 2024 Level 1 Level 2 Total Assets: Cash equivalents: Money market funds $ 116,991 $ — $ 116,991 U.S. treasuries 999 — 999 Commercial paper — 2,991 2,991 117,990 2,991 120,981 Marketable securities: U.S. treasuries 62,579 — 62,579 U.S. agency securities — 11,629 11,629 Corporate bonds — 75,880 75,880 Commercial paper — 12,775 12,775 62,579 100,284 162,863 Foreign exchange derivative contracts — 61 61 Interest rate swap derivative contract — 2,170 2,170 Total assets $ 180,569 $ 105,506 $ 286,075 Liabilities: Foreign exchange derivative contracts $ — $ (220) $ (220) Total liabilities $ — $ (220) $ (220) December 30, 2023 Level 1 Level 2 Total Assets: Cash equivalents: Money market funds $ 110,980 $ — $ 110,980 U.S. treasuries 4,581 — 4,581 115,561 — 115,561 Marketable securities: U.S. treasuries 45,837 — 45,837 U.S. agency securities — 10,003 10,003 Corporate bonds — 81,350 81,350 Commercial paper — 13,317 13,317 45,837 104,670 150,507 Foreign exchange derivative contracts — 284 284 Interest rate swap derivative contract — 1,989 1,989 Total assets $ 161,398 $ 106,943 $ 268,341 Liabilities: Foreign exchange derivative contracts $ — $ (30) $ (30) Total liabilities $ — $ (30) $ (30) Cash Equivalents The fair value of our cash equivalents is determined based on quoted market prices for similar or identical securities. Marketable Securities We classify our marketable securities as available-for-sale and value them utilizing a market approach. Our investments are priced by pricing vendors who provide observable inputs for their pricing without applying significant judgment. Broker pricing is used mainly when a quoted price is not available, the investment is not priced by our pricing vendors or when a broker price is more reflective of fair value. Our broker-priced investments are categorized as Level 2 investments because fair value is based on similar assets without applying significant judgments. In addition, all investments have a sufficient trading volume to demonstrate that the fair value is appropriate. Unrealized gains and losses were immaterial and were recorded as a component of Accumulated other comprehensive loss in our Condensed Consolidated Balance Sheets. We did not have any other-than-temporary unrealized gains or losses at either period end included in these financial statements. Interest Rate Swap The fair value of our interest rate swap contract is determined at the end of each reporting period based on valuation models that use interest rate yield curves as inputs. For accounting purposes, our interest rate swap contract qualifies for, and is designated as a cash flow hedge. The hedged risk is the interest rate exposure to changes in interest payments attributable to changes in our variable-rate interest over the interest rate swap term. The changes in cash flows of the interest rate swap are expected to exactly offset changes in cash flows of the variable-rate debt. Cash settlements, in the form of cash payments or cash receipts, are recognized as a component of interest expense. The cash flows associated with the interest rate swaps are reported in Net cash provided by operating activities in our Condensed Consolidated Statements of Cash Flows and the fair value of the interest rate swap contracts are recorded within Prepaid expenses and other current assets and Other assets in our Condensed Consolidated Balance Sheets. Foreign Exchange Derivative Contracts We operate and sell our products in various global markets. As a result, we are exposed to changes in foreign currency exchange rates. We utilize foreign currency forward contracts to hedge against future movements in foreign exchange rates that affect certain existing foreign currency denominated assets and liabilities and forecasted foreign currency revenue and expense transactions. Under this program, our strategy is to have increases or decreases in our foreign currency exposures mitigated by gains or losses on the foreign currency forward contracts in order to mitigate the risks and volatility associated with foreign currency transaction gains or losses. We do not use derivative financial instruments for speculative or trading purposes. For accounting purposes, certain of our foreign currency forward contracts are not designated as hedging instruments and, accordingly, we record the fair value of these contracts as of the end of our reporting period in our Condensed Consolidated Balance Sheets with changes in fair value recorded within Other income, net in our Condensed Consolidated Statement of Income for both realized and unrealized gains and losses. Certain of our foreign currency forward contracts are designated as cash flow hedges, and, accordingly, we record the fair value of these contracts as of the end of our reporting period in our Condensed Consolidated Balance Sheets with changes in fair value recorded as a component of Accumulated other comprehensive loss and reclassified into earnings in the same period in which the hedged transaction affects earnings, and in the same line item on the Condensed Consolidated Statements of Income as the impact of the hedge transaction. The fair value of our foreign exchange derivative contracts was determined based on current foreign currency exchange rates and forward points. All of our foreign exchange derivative contracts outstanding at March 30, 2024 will mature by the first quarter of fiscal 2025. The following table provides information about our foreign currency forward contracts outstanding as of March 30, 2024 (in thousands): Currency Contract Position Contract Amount Contract Amount Euro Dollar Buy 26,916 $ 29,357 Japanese Yen Sell 2,471,086 16,388 Korean Won Buy 3,168,510 2,357 Taiwan Dollar Sell 93,654 2,925 Our foreign currency contracts are classified within Level 2 of the fair value hierarchy as they are valued using pricing models that utilize observable market inputs. Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis

Warranty

Warranty	3 Months Ended
Warranty	Mar. 30, 2024
Product Warranties Disclosures [Abstract]
Warranty	Warranty We offer warranties on certain products and record a liability for the estimated future costs associated with warranty claims at the time revenue is recognized. The warranty liability is based upon historical experience and our estimate of the level of future costs. While we engage in product quality programs and processes, our warranty obligation is affected by product failure rates, material usage and service delivery costs. We regularly monitor product returns for warranty and maintain a reserve for the related expenses based upon our historical experience and any specifically identified failures. As we sell new products to our customers, we must exercise considerable judgment in estimating the expected failure rates. This estimating process is based on historical experience of similar products, as well as various other assumptions that we believe to be reasonable under the circumstances. We provide for the estimated cost of product warranties at the time revenue is recognized as a component of Cost of revenues in our Condensed Consolidated Statement of Income. Changes in our warranty liability were as follows (in thousands): Three Months Ended March 30, April 1, Balance at beginning of period $ 3,177 $ 4,199 Accruals 2,729 1,390 Settlements (2,238) (1,717) Balance at end of period $ 3,668 $ 3,872

Property, Plant, and Equipment,

Property, Plant, and Equipment, net	3 Months Ended
Property, Plant, and Equipment, net	Mar. 30, 2024
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, net	Property, Plant and Equipment, net Property, plant and equipment, net consisted of the following (in thousands): March 30, December 30, Land $ 17,124 $ 17,124 Building and building improvements 46,375 46,526 Machinery and equipment 289,291 286,215 Computer equipment and software 46,701 46,866 Furniture and fixtures 7,513 7,490 Leasehold improvements 90,913 91,063 Sub-total 497,917 495,284 Less: Accumulated depreciation and amortization (361,869) (358,021) Net, property, plant and equipment 136,048 137,263 Construction-in-process 69,724 67,136 Total $ 205,772 $ 204,399

Stockholders_ Equity and Stock-

Stockholders’ Equity and Stock-Based Compensation	3 Months Ended
Stockholders’ Equity and Stock-Based Compensation	Mar. 30, 2024
Equity [Abstract]
Stockholders’ Equity and Stock-Based Compensation	Stockholders’ Equity and Stock-Based Compensation Common Stock Repurchase Programs On May 20, 2022, our Board of Directors authorized a two-year program to repurchase up to $75.0 million of outstanding common stock to offset potential dilution from issuance of common stock under our stock-based compensation programs. During fiscal 2022 and fiscal 2023, we repurchased and retired 1,700,893 shares of common stock for $56.4 million and 504,352 shares of common stock for $18.6 million, respectively, utilizing the remaining shares available for repurchase under the program. On October 30, 2023, our Board of Directors authorized an additional two-year program to repurchase up to $75.0 million of outstanding common stock, with the primary purpose of offsetting potential dilution from issuance of common stock under our stock-based compensation programs. This share repurchase program will expire on October 30, 2025. During fiscal 2023 we repurchased and retired 32,020 shares of common stock for $1.2 million. During the three months ended March 30, 2024, we repurchased and retired 411,756 shares of common stock for $17.4 million (including excise tax accrued), and as of March 30, 2024, $56.4 million remained available for future repurchases. Our policy related to repurchases of our common stock is to charge the excess of cost over par value to additional paid-in capital once the shares are retired. The net share repurchases are subject to a 1% excise tax under the Inflation Reduction Act. The excise tax incurred reduces the amount available under the repurchase programs, as applicable, and is included in the cost of shares repurchased in the Condensed Consolidated Statement of Stockholders Equity. All repurchases were made in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended. Restricted Stock Units Restricted stock unit (“RSU”) activity under our equity incentive plan was as follows: Units Weighted Average Grant Date Fair Value RSUs at December 30, 2023 2,165,729 $ 35.85 Awards granted 16,253 42.26 Awards vested (122,498) 30.65 Awards forfeited (5,431) 33.90 RSUs at March 30, 2024 2,054,053 36.16 Performance Restricted Stock Units We may grant Performance RSUs (“PRSUs”) to certain executives, which vest based upon us achieving certain market performance criteria. There were no market based PRSUs granted during the three months ended March 30, 2024. PRSUs are included as part of the RSU activity above. Employee Stock Purchase Plan Information related to activity under our Employee Stock Purchase Plan (“ESPP”) was as follows: Three Months Ended March 30, 2024 Shares issued 197,014 Weighted average per share purchase price $ 25.11 Weighted average per share discount from the fair value of our common stock on the date of issuance $ (13.66) Stock-Based Compensation Stock-based compensation was included in our Condensed Consolidated Statements of Income as follows (in thousands): Three Months Ended March 30, April 1, Cost of revenues $ 1,928 $ 1,910 Research and development 2,613 2,372 Selling, general and administrative 5,864 5,008 Total stock-based compensation $ 10,405 $ 9,290 Unrecognized Compensation Costs At March 30, 2024, the unrecognized stock-based compensation was as follows (dollars in thousands): Unrecognized Expense Average Expected Restricted stock units $ 40,890 1.84 Performance restricted stock units 9,170 1.83 Employee stock purchase plan 1,055 0.34 Total unrecognized stock-based compensation expense $ 51,115 1.80

Net Income per Share

Net Income per Share	3 Months Ended
Net Income per Share	Mar. 30, 2024
Earnings Per Share [Abstract]
Net Income per Share	Net Income per Share The following table reconciles the shares used in calculating basic net income per share and diluted net income per share (in thousands): Three Months Ended March 30, April 1, Weighted-average shares used in computing basic net income per share 77,452 77,066 Add potentially dilutive securities 1,038 189 Weighted-average shares used in computing diluted net income per share 78,490 77,255 Securities not included as they would have been antidilutive — 1,121

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Leases See Note 13, Leases . Contractual Obligations and Commitments Our contractual obligations and commitments have not materially changed as of March 30, 2024 from those disclosed in our Annual Report on Form 10-K for the year ended December 30, 2023. Legal Matters From time to time, we are subject to legal proceedings and claims in the ordinary course of business, the outcomes of which cannot be estimated with certainty. Our ability to estimate the outcomes may change in the near term and the effect of any such change could have a material adverse effect on our financial position, results of operations or cash flows.

Leases

Leases	3 Months Ended
Leases	Mar. 30, 2024
Leases [Abstract]
Leases	Leases We lease real estate space under non-cancelable operating lease agreements for commercial and industrial space, as well as for a portion of our corporate headquarters located in Livermore, California. Our leases have remaining terms of 1 to 11 years, and some leases include options to extend up to 20 years. We also have operating leases for automobiles with remaining lease terms of 1 to 3 years. We did not include any of our renewal options in our lease terms for calculating our lease liability as the renewal options allow us to maintain operational flexibility and we are not reasonably certain we will exercise these options at this time. The weighted-average remaining lease term for our operating leases was 4 years as of March 30, 2024 and the weighted-average discount rate was 4.64%. The components of lease expense were as follows (in thousands): Three Months Ended March 30, April 1, Lease expense: Operating lease expense $ 2,130 $ 1,952 Short-term lease expense 60 157 Variable lease expense 810 746 $ 3,000 $ 2,855 Future minimum payments under our non-cancelable operating leases were as follows as of March 30, 2024 (in thousands): Fiscal Year Amount Remainder of 2024 $ 9,037 2025 9,084 2026 7,651 2027 7,222 2028 3,903 Thereafter 1,401 Total minimum lease payments 38,298 Less: interest (6,621) Present value of net minimum lease payments 31,677 Less: current portion (8,245) Total long-term operating lease liabilities $ 23,432

Revenue

Revenue	3 Months Ended
Revenue	Mar. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Transaction price allocated to the remaining performance obligations: On March 30, 2024, we had $11.3 million of remaining performance obligations, which were comprised of deferred service contracts, extended warranty contracts, and contracts with overtime revenue recognition that are not yet delivered. We expect to recognize approximately 73.3% of our remaining performance obligations as revenue in the remainder of fiscal 2024, approximately 21.9% in fiscal 2025, and approximately 4.8% in fiscal 2026 and thereafter. The foregoing excludes the value of other remaining performance obligations as they have original durations of one year or less, and also excludes information about variable consideration allocated entirely to a wholly unsatisfied performance obligation. Contract balances: The timing of revenue recognition may differ from the timing of invoicing to customers. Accounts receivable is recorded at the invoiced amount, net of an allowance for credit losses. A receivable is recognized in the period we deliver goods or provide services or when our right to consideration is unconditional. A contract asset is recorded when we have performed under the contract but our right to consideration is conditional on something other than the passage of time. Contract assets as of March 30, 2024 and December 30, 2023 were $5.3 million and $3.8 million, respectively, and are reported on the Condensed Consolidated Balance Sheets as a component of Prepaid expenses and other current assets. Contract liabilities include payments received and payments due in advance of performance under a contract and are satisfied as the associated revenue is recognized. Contract liabilities are reported on the Condensed Consolidated Balance Sheets at the end of each reporting period as a component of Deferred revenue and Other liabilities. Contract liabilities as of March 30, 2024 and December 30, 2023 were $18.7 million and $18.0 million, respectively. During the three months ended March 30, 2024, we recognized $6.5 million of revenue that was included in contract liabilities as of December 30, 2023. Costs to obtain a contract: We generally expense sales commissions when incurred as a component of Selling, general and administrative expense, as the amortization period is typically less than one year. Revenue by category: Refer to Note 15, Operating Segments and Enterprise-Wide Information

Operating Segments and Enterpri

Operating Segments and Enterprise-Wide Information	3 Months Ended
Operating Segments and Enterprise-Wide Information	Mar. 30, 2024
Segment Reporting [Abstract]
Operating Segments and Enterprise-Wide Information	Operating Segments and Enterprise-Wide Information Our CODM is our Chief Executive Officer, who reviews operating results to make decisions about allocating resources and assessing performance for the entire company. We operate in two reportable segments consisting of the Probe Cards segment and the Systems segment. The following table summarizes the operating results by reportable segment (dollars in thousands): Three Months Ended March 30, 2024 April 1, 2023 Probe Cards Systems Corporate and Other Total Probe Cards Systems Corporate and Other Total Revenues $ 136,701 $ 32,024 $ — $ 168,725 $ 127,328 $ 40,120 $ — $ 167,448 Gross profit 50,791 14,506 (2,559) 62,738 43,623 20,746 (3,291) 61,078 Gross margin 37.2 % 45.3 % 37.2 % 34.3 % 51.7 % 36.5 % Operating results provide useful information to our management for assessment of our performance and results of operations. Certain components of our operating results are utilized to determine compensation along with other measures. Corporate and Other includes unallocated expenses relating to amortization of intangible assets, inventory and fixed asset fair value adjustments due to acquisitions, share-based compensation, and restructuring charges which are not used in evaluating the results of, or in allocating resources to, our reportable segments. Certain revenue category information by reportable segment was as follows (in thousands): Three Months Ended March 30, 2024 April 1, 2023 Probe Cards Systems Total Probe Cards Systems Total Market: Foundry & Logic $ 86,768 $ — $ 86,768 $ 101,562 $ — $ 101,562 DRAM 45,896 — 45,896 19,890 — 19,890 Flash 4,037 — 4,037 5,876 — 5,876 Systems — 32,024 32,024 — 40,120 40,120 Total $ 136,701 $ 32,024 $ 168,725 $ 127,328 $ 40,120 $ 167,448 Timing of revenue recognition: Products transferred at a point in time $ 135,641 $ 28,784 $ 164,425 $ 126,678 $ 36,710 $ 163,388 Products and services transferred over time 1,060 3,240 4,300 650 3,410 4,060 Total $ 136,701 $ 32,024 $ 168,725 $ 127,328 $ 40,120 $ 167,448 Geographical region: South Korea $ 50,672 $ 45 $ 50,717 $ 19,572 $ 1,203 $ 20,775 United States 35,596 10,170 45,766 24,641 13,090 37,731 Taiwan 27,179 2,698 29,877 38,897 1,432 40,329 China 8,686 6,927 15,613 18,476 8,623 27,099 Europe 3,528 5,321 8,849 3,426 6,000 9,426 Japan 4,347 4,195 8,542 7,136 3,841 10,977 Singapore 3,516 1,242 4,758 3,200 2,140 5,340 Malaysia 1,608 255 1,863 10,324 946 11,270 Rest of the world 1,569 1,171 2,740 1,656 2,845 4,501 Total $ 136,701 $ 32,024 $ 168,725 $ 127,328 $ 40,120 $ 167,448

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Mar. 30, 2024	Apr. 01, 2023
Pay vs Performance Disclosure
Net income	$ 21,781	$ 1,342

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation
Fiscal Year	Fiscal Year We operate on a 52/53 week fiscal year, whereby the fiscal year ends on the last Saturday of December. Fiscal 2024 and 2023 each contain 52 weeks and the three months ended March 30, 2024 and April 1, 2023 each contained 13 weeks. Fiscal 2024 will end on December 28, 2024.
Fair Value	Whenever possible, the fair values of our financial assets and liabilities are determined using quoted market prices of identical securities or quoted market prices of similar securities from active markets. The three levels of inputs that may be used to measure fair value are as follows: • Level 1 valuations are obtained from real-time quotes for transactions in active exchange markets involving identical securities; • Level 2 valuations utilize significant observable inputs, such as quoted prices for similar assets or liabilities, quoted prices near the reporting date in markets that are less active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and • Level 3 valuations utilize unobservable inputs to the valuation methodology and include our own data about assumptions market participants would use in pricing the asset or liability based on the best information available under the circumstances. We did not have any transfers of assets or liabilities measured at fair value on a recurring basis to or from Level 1, Level 2 or Level 3 during the three months ended March 30, 2024 or the year ended December 30, 2023. The carrying values of Cash, Accounts receivable, net, Restricted cash, Prepaid expenses and other current assets, Accounts payable, and Accrued liabilities approximate fair value due to their short maturities. No changes were made to our valuation techniques during the first three months of fiscal 2024. Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis

Concentration of Credit and O_2

Concentration of Credit and Other Risks (Tables)	3 Months Ended
Concentration of Credit and Other Risks (Tables)	Mar. 30, 2024
Risks and Uncertainties [Abstract]
Schedule of Customer Percentage of Revenue	Each of the following customers accounted for 10% or more of our revenues for the periods indicated: Three Months Ended March 30, April 1, Intel Corporation 15.7 % 20.0 % SK Hynix Inc. 15.5 * Samsung Electronics., LTD. 12.4 * 43.6 % 20.0 %

Inventories, net (Tables)

Inventories, net (Tables)	3 Months Ended
Inventories, net (Tables)	Mar. 30, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory Components	Inventories, net, consisted of the following (in thousands): March 30, December 30, Raw materials $ 61,228 $ 50,808 Work-in-progress 28,753 39,336 Finished goods 18,793 21,541 $ 108,774 $ 111,685

Divestures (Tables)

Divestures (Tables)	3 Months Ended
Divestures (Tables)	Mar. 30, 2024
Asset Retirement Obligation Disclosure [Abstract]
Schedule of Components Held-for Sale	The following table summarizes the fair value of the sale proceeds received in connection with the divestiture, which are subject to further post-closing adjustment (in thousands): February 26, 2024 Gross purchase price $ 25,000 Estimated working capital adjustment (151) Cash transferred to the buyer at closing (2,743) Direct costs to sell (986) Fair value of sale consideration, net $ 21,120 The carrying amount of net assets associated with the China operations was approximately $1.2 million. The major classes of assets and liabilities sold consisted of the following (in thousands): February 26, 2024 ASSETS Accounts receivable, net $ 1,174 Inventories, net 3,729 Other current assets 391 Total current assets 5,294 Property, plant and equipment, net 1,283 Goodwill 1,117 Other assets 3,029 Total assets $ 10,723 LIABILITIES Deferred Revenue $ 3,739 Other current liabilities 1,546 Other liabilities 4,283 Total liabilities $ 9,568 The following table summarizes the fair value of the sale proceeds received in connection with the divestiture (in thousands): November 1, 2023 Gross purchase price $ 99,100 Working capital adjustment 4,266 Cash transferred to the buyer at closing (2,049) Direct costs to sell (1,225) Fair value of sale consideration, net $ 100,092 The carrying amount of net assets associated with the FRT business was approximately $26.8 million. The major classes of assets and liabilities sold consisted of the following (in thousands): November 1, 2023 ASSETS Accounts receivable, net $ 7,738 Inventories, net 6,446 Other current assets 635 Total current assets 14,819 Intangibles, net 6,897 Goodwill 10,660 Other assets 1,612 Total assets $ 33,988 LIABILITIES Current liabilities $ 4,300 Other liabilities 2,856 Total liabilities $ 7,156

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
Goodwill and Intangible Assets (Tables)	Mar. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill by Reportable Segments	Goodwill by reportable segment was as follows (in thousands): Probe Cards Systems Total Goodwill, as of December 31, 2022 $ 178,424 $ 33,020 $ 211,444 Reduction - FRT divestiture — (10,660) (10,660) Foreign currency translation — 306 306 Goodwill, as of December 30, 2023 178,424 22,666 201,090 Reduction - China divestiture (1,055) (62) (1,117) Foreign currency translation — (320) (320) Goodwill, as of March 30, 2024 $ 177,369 $ 22,284 $ 199,653
Schedule of Intangible Assets	Intangible assets were as follows (in thousands): March 30, 2024 December 30, 2023 Intangible Assets Gross Accumulated Net Gross Accumulated Net Existing developed technologies $ 159,341 $ 148,642 $ 10,699 $ 159,593 $ 148,445 $ 11,148 Customer relationships 47,945 46,816 1,129 48,022 46,712 1,310 Trade name 7,779 7,710 69 7,808 7,728 80 In-process research and development 400 — 400 400 — 400 $ 215,465 $ 203,168 $ 12,297 $ 215,823 $ 202,885 $ 12,938
Schedule of Amortization Expense	Amortization expense was included in our Condensed Consolidated Statements of Income as follows (in thousands): Three Months Ended March 30, April 1, Cost of revenues $ 449 $ 831 Selling, general and administrative 191 1,547 $ 640 $ 2,378
Schedule of Estimated Amortization of Intangible Assets	The estimated future amortization of definite-lived intangible assets, excluding in-process research and development, is as follows (in thousands): Fiscal Year Amount Remainder of 2024 $ 1,921 2025 2,330 2026 1,630 2027 1,630 2028 1,630 Thereafter 2,756 $ 11,897

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	3 Months Ended
Accrued Liabilities (Tables)	Mar. 30, 2024
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities consisted of the following (in thousands): March 30, December 30, Accrued compensation and benefits $ 21,562 $ 20,073 Accrued income and other taxes 7,412 8,205 Accrued warranty 3,668 3,177 Employee stock purchase plan contributions withheld 1,829 4,263 Other accrued expenses 3,245 5,319 $ 37,716 $ 41,037

Fair Value and Derivative Ins_2

Fair Value and Derivative Instruments (Tables)	3 Months Ended
Fair Value and Derivative Instruments (Tables)	Mar. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value Assets Measured on Recurring Basis	Assets and liabilities measured at fair value on a recurring basis were as follows (in thousands): March 30, 2024 Level 1 Level 2 Total Assets: Cash equivalents: Money market funds $ 116,991 $ — $ 116,991 U.S. treasuries 999 — 999 Commercial paper — 2,991 2,991 117,990 2,991 120,981 Marketable securities: U.S. treasuries 62,579 — 62,579 U.S. agency securities — 11,629 11,629 Corporate bonds — 75,880 75,880 Commercial paper — 12,775 12,775 62,579 100,284 162,863 Foreign exchange derivative contracts — 61 61 Interest rate swap derivative contract — 2,170 2,170 Total assets $ 180,569 $ 105,506 $ 286,075 Liabilities: Foreign exchange derivative contracts $ — $ (220) $ (220) Total liabilities $ — $ (220) $ (220) December 30, 2023 Level 1 Level 2 Total Assets: Cash equivalents: Money market funds $ 110,980 $ — $ 110,980 U.S. treasuries 4,581 — 4,581 115,561 — 115,561 Marketable securities: U.S. treasuries 45,837 — 45,837 U.S. agency securities — 10,003 10,003 Corporate bonds — 81,350 81,350 Commercial paper — 13,317 13,317 45,837 104,670 150,507 Foreign exchange derivative contracts — 284 284 Interest rate swap derivative contract — 1,989 1,989 Total assets $ 161,398 $ 106,943 $ 268,341 Liabilities: Foreign exchange derivative contracts $ — $ (30) $ (30) Total liabilities $ — $ (30) $ (30)
Schedule of Foreign Currency Forward Contracts	The following table provides information about our foreign currency forward contracts outstanding as of March 30, 2024 (in thousands): Currency Contract Position Contract Amount Contract Amount Euro Dollar Buy 26,916 $ 29,357 Japanese Yen Sell 2,471,086 16,388 Korean Won Buy 3,168,510 2,357 Taiwan Dollar Sell 93,654 2,925

Warranty (Tables)

Warranty (Tables)	3 Months Ended
Warranty (Tables)	Mar. 30, 2024
Product Warranties Disclosures [Abstract]
Schedule of Reconciliation of Changes in Warranty Liability	Changes in our warranty liability were as follows (in thousands): Three Months Ended March 30, April 1, Balance at beginning of period $ 3,177 $ 4,199 Accruals 2,729 1,390 Settlements (2,238) (1,717) Balance at end of period $ 3,668 $ 3,872

Property, Plant, and Equipmen_2

Property, Plant, and Equipment, net (Tables)	3 Months Ended
Property, Plant, and Equipment, net (Tables)	Mar. 30, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	Property, plant and equipment, net consisted of the following (in thousands): March 30, December 30, Land $ 17,124 $ 17,124 Building and building improvements 46,375 46,526 Machinery and equipment 289,291 286,215 Computer equipment and software 46,701 46,866 Furniture and fixtures 7,513 7,490 Leasehold improvements 90,913 91,063 Sub-total 497,917 495,284 Less: Accumulated depreciation and amortization (361,869) (358,021) Net, property, plant and equipment 136,048 137,263 Construction-in-process 69,724 67,136 Total $ 205,772 $ 204,399

Stockholders_ Equity and Stoc_2

Stockholders’ Equity and Stock-Based Compensation (Tables)	3 Months Ended
Stockholders’ Equity and Stock-Based Compensation (Tables)	Mar. 30, 2024
Equity [Abstract]
Schedule of Restricted Stock Unit Activity	Restricted stock unit (“RSU”) activity under our equity incentive plan was as follows: Units Weighted Average Grant Date Fair Value RSUs at December 30, 2023 2,165,729 $ 35.85 Awards granted 16,253 42.26 Awards vested (122,498) 30.65 Awards forfeited (5,431) 33.90 RSUs at March 30, 2024 2,054,053 36.16
Schedule of ESPP Activity	Information related to activity under our Employee Stock Purchase Plan (“ESPP”) was as follows: Three Months Ended March 30, 2024 Shares issued 197,014 Weighted average per share purchase price $ 25.11 Weighted average per share discount from the fair value of our common stock on the date of issuance $ (13.66)
Schedule of Stock-based Compensation	Stock-based compensation was included in our Condensed Consolidated Statements of Income as follows (in thousands): Three Months Ended March 30, April 1, Cost of revenues $ 1,928 $ 1,910 Research and development 2,613 2,372 Selling, general and administrative 5,864 5,008 Total stock-based compensation $ 10,405 $ 9,290
Schedule of Unrecognized Stock-based Compensation	At March 30, 2024, the unrecognized stock-based compensation was as follows (dollars in thousands): Unrecognized Expense Average Expected Restricted stock units $ 40,890 1.84 Performance restricted stock units 9,170 1.83 Employee stock purchase plan 1,055 0.34 Total unrecognized stock-based compensation expense $ 51,115 1.80

Net Income per Share (Tables)

Net Income per Share (Tables)	3 Months Ended
Net Income per Share (Tables)	Mar. 30, 2024
Earnings Per Share [Abstract]
Schedule of Calculation of Numerator and Denominator in Earnings Per Share	The following table reconciles the shares used in calculating basic net income per share and diluted net income per share (in thousands): Three Months Ended March 30, April 1, Weighted-average shares used in computing basic net income per share 77,452 77,066 Add potentially dilutive securities 1,038 189 Weighted-average shares used in computing diluted net income per share 78,490 77,255 Securities not included as they would have been antidilutive — 1,121

Leases (Tables)

Leases (Tables)	3 Months Ended
Leases (Tables)	Mar. 30, 2024
Leases [Abstract]
Schedule of Components of Lease Expense	The components of lease expense were as follows (in thousands): Three Months Ended March 30, April 1, Lease expense: Operating lease expense $ 2,130 $ 1,952 Short-term lease expense 60 157 Variable lease expense 810 746 $ 3,000 $ 2,855
Schedule of Future Minimum Payments Under Leases	Future minimum payments under our non-cancelable operating leases were as follows as of March 30, 2024 (in thousands): Fiscal Year Amount Remainder of 2024 $ 9,037 2025 9,084 2026 7,651 2027 7,222 2028 3,903 Thereafter 1,401 Total minimum lease payments 38,298 Less: interest (6,621) Present value of net minimum lease payments 31,677 Less: current portion (8,245) Total long-term operating lease liabilities $ 23,432

Operating Segments and Enterp_2

Operating Segments and Enterprise-Wide Information (Tables)	3 Months Ended
Operating Segments and Enterprise-Wide Information (Tables)	Mar. 30, 2024
Segment Reporting [Abstract]
Schedule of Operating Results by Segment	The following table summarizes the operating results by reportable segment (dollars in thousands): Three Months Ended March 30, 2024 April 1, 2023 Probe Cards Systems Corporate and Other Total Probe Cards Systems Corporate and Other Total Revenues $ 136,701 $ 32,024 $ — $ 168,725 $ 127,328 $ 40,120 $ — $ 167,448 Gross profit 50,791 14,506 (2,559) 62,738 43,623 20,746 (3,291) 61,078 Gross margin 37.2 % 45.3 % 37.2 % 34.3 % 51.7 % 36.5 %
Schedule of Disaggregation of Revenue by Segment	Certain revenue category information by reportable segment was as follows (in thousands): Three Months Ended March 30, 2024 April 1, 2023 Probe Cards Systems Total Probe Cards Systems Total Market: Foundry & Logic $ 86,768 $ — $ 86,768 $ 101,562 $ — $ 101,562 DRAM 45,896 — 45,896 19,890 — 19,890 Flash 4,037 — 4,037 5,876 — 5,876 Systems — 32,024 32,024 — 40,120 40,120 Total $ 136,701 $ 32,024 $ 168,725 $ 127,328 $ 40,120 $ 167,448 Timing of revenue recognition: Products transferred at a point in time $ 135,641 $ 28,784 $ 164,425 $ 126,678 $ 36,710 $ 163,388 Products and services transferred over time 1,060 3,240 4,300 650 3,410 4,060 Total $ 136,701 $ 32,024 $ 168,725 $ 127,328 $ 40,120 $ 167,448 Geographical region: South Korea $ 50,672 $ 45 $ 50,717 $ 19,572 $ 1,203 $ 20,775 United States 35,596 10,170 45,766 24,641 13,090 37,731 Taiwan 27,179 2,698 29,877 38,897 1,432 40,329 China 8,686 6,927 15,613 18,476 8,623 27,099 Europe 3,528 5,321 8,849 3,426 6,000 9,426 Japan 4,347 4,195 8,542 7,136 3,841 10,977 Singapore 3,516 1,242 4,758 3,200 2,140 5,340 Malaysia 1,608 255 1,863 10,324 946 11,270 Rest of the world 1,569 1,171 2,740 1,656 2,845 4,501 Total $ 136,701 $ 32,024 $ 168,725 $ 127,328 $ 40,120 $ 167,448

Concentration of Credit and O_3

Concentration of Credit and Other Risks (Details) - Customer Concentration Risk	3 Months Ended		12 Months Ended
	Mar. 30, 2024	Apr. 01, 2023	Dec. 30, 2023
Revenue Benchmark \| Two Major Customers
Concentration Risk [Line Items]
Concentration risk percentage	10%	10%
Revenue from Contract with Customer Benchmark \| Intel Corporation
Concentration Risk [Line Items]
Concentration risk percentage	15.70%	20%
Revenue from Contract with Customer Benchmark \| Samsung Electronics., LTD.
Concentration Risk [Line Items]
Concentration risk percentage	12.40%
Revenue from Contract with Customer Benchmark \| SK Hynix Inc.
Concentration Risk [Line Items]
Concentration risk percentage	15.50%
Revenue from Contract with Customer Benchmark \| Customers Representing 10% or More of Total Revenues
Concentration Risk [Line Items]
Concentration risk percentage	43.60%	20%
Accounts Receivable \| Major Customer 1
Concentration Risk [Line Items]
Concentration risk percentage	19%		17.80%
Accounts Receivable \| Major Customer 2
Concentration Risk [Line Items]
Concentration risk percentage	13.50%		11%

Inventories, net (Details)

Inventories, net (Details) - USD ($) $ in Thousands	Mar. 30, 2024	Dec. 30, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 61,228	$ 50,808
Work-in-progress	28,753	39,336
Finished goods	18,793	21,541
Inventories	$ 108,774	$ 111,685

Divestures - Narrative (Details

Divestures - Narrative (Details) - USD ($) $ in Thousands			3 Months Ended
Divestures - Narrative (Details) - USD ($) $ in Thousands	Feb. 26, 2024	Nov. 01, 2023	Mar. 30, 2024	Apr. 01, 2023	Feb. 07, 2024	Dec. 30, 2023	Sep. 18, 2023	Oct. 09, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on disposition of business			$ 20,271	$ 0
Accrued liabilities			$ 37,716			$ 41,037
Disposal Group, Held-for-Sale, Not Discontinued Operations \| China Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross purchase price	$ 25,000				$ 25,000
Fair value of sale consideration, net	21,120
Net assets	1,200
Gain (loss) on disposition of business	20,000
Accrued liabilities	$ 3,300
Disposal Group, Held-for-Sale, Not Discontinued Operations \| FRT Metrology
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross purchase price		$ 99,100					$ 100,000	$ 24,400
Fair value of sale consideration, net		100,092
Net assets		26,800
Gain (loss) on disposition of business		73,300
Accrued liabilities		$ 6,000

Divestures - Schedule of Fair V

Divestures - Schedule of Fair Value (Details) - Disposal Group, Held-for-Sale, Not Discontinued Operations - USD ($) $ in Thousands	Feb. 26, 2024	Feb. 07, 2024	Nov. 01, 2023	Sep. 18, 2023	Oct. 09, 2019
China Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross purchase price	$ 25,000	$ 25,000
Estimated working capital adjustment	(151)
Cash transferred to the buyer at closing	(2,743)
Direct costs to sell	(986)
Fair value of sale consideration, net	$ 21,120
FRT Metrology
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross purchase price			$ 99,100	$ 100,000	$ 24,400
Estimated working capital adjustment			4,266
Cash transferred to the buyer at closing			(2,049)
Direct costs to sell			(1,225)
Fair value of sale consideration, net			$ 100,092

Divestures - Schedule of Assets

Divestures - Schedule of Assets and Liabilities Held-for-Sale (Details) - Disposal Group, Held-for-Sale, Not Discontinued Operations - USD ($) $ in Thousands	Feb. 26, 2024	Nov. 01, 2023
China Operations
ASSETS
Accounts receivable, net	$ 1,174
Inventories, net	3,729
Other current assets	391
Total current assets	5,294
Property, plant and equipment, net	1,283
Goodwill	1,117
Other assets	3,029
Assets held-for-sale	10,723
LIABILITIES
Deferred Revenue	3,739
Other current liabilities	1,546
Other liabilities	4,283
Total liabilities	$ 9,568
FRT Metrology
ASSETS
Accounts receivable, net		$ 7,738
Inventories, net		6,446
Other current assets		635
Total current assets		14,819
Intangibles, net		6,897
Goodwill		10,660
Other assets		1,612
Assets held-for-sale		33,988
LIABILITIES
Current liabilities		4,300
Other liabilities		2,856
Total liabilities		$ 7,156

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 30, 2024	Dec. 30, 2023
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 201,090	$ 211,444
Foreign currency translation	(320)	306
Goodwill, ending balance	199,653	201,090
FRT Metrology
Goodwill [Roll Forward]
Reduction - divesture		(10,660)
China Operations
Goodwill [Roll Forward]
Reduction - divesture	(1,117)
Probe Cards
Goodwill [Roll Forward]
Goodwill, beginning balance	178,424	178,424
Foreign currency translation	0	0
Goodwill, ending balance	177,369	178,424
Probe Cards \| FRT Metrology
Goodwill [Roll Forward]
Reduction - divesture		0
Probe Cards \| China Operations
Goodwill [Roll Forward]
Reduction - divesture	(1,055)
Systems
Goodwill [Roll Forward]
Goodwill, beginning balance	22,666	33,020
Foreign currency translation	(320)	306
Goodwill, ending balance	22,284	22,666
Systems \| FRT Metrology
Goodwill [Roll Forward]
Reduction - divesture		$ (10,660)
Systems \| China Operations
Goodwill [Roll Forward]
Reduction - divesture	$ (62)

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Additional information (Details)	3 Months Ended
	Mar. 30, 2024 USD ($)
Goodwill [Line Items]
Goodwill, impairment loss	$ 0

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 30, 2024	Dec. 30, 2023
Finite-Lived Intangible Assets [Line Items]
Gross	$ 215,465	$ 215,823
Accumulated Amortization	203,168	202,885
Net	12,297	12,938
Existing developed technologies
Finite-Lived Intangible Assets [Line Items]
Gross	159,341	159,593
Accumulated Amortization	148,642	148,445
Net	10,699	11,148
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross	47,945	48,022
Accumulated Amortization	46,816	46,712
Net	1,129	1,310
Trade name
Finite-Lived Intangible Assets [Line Items]
Gross	7,779	7,808
Accumulated Amortization	7,710	7,728
Net	69	80
In-process research and development
Finite-Lived Intangible Assets [Line Items]
Gross	400	400
Accumulated Amortization	0	0
Net	$ 400	$ 400

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 30, 2024	Apr. 01, 2023
Property, Plant and Equipment [Line Items]
Amortization of intangible assets	$ 640	$ 2,378
Finite-Lived Intangible Assets, Net, Amortization Expense, Rolling Maturity [Abstract]
Remainder of 2024	1,921
2025	2,330
2026	1,630
2027	1,630
2028	1,630
Thereafter	2,756
Net	11,897
Cost of revenues
Property, Plant and Equipment [Line Items]
Amortization of intangible assets	449	831
Selling, general and administrative
Property, Plant and Equipment [Line Items]
Amortization of intangible assets	$ 191	$ 1,547

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Mar. 30, 2024	Dec. 30, 2023
Payables and Accruals [Abstract]
Accrued compensation and benefits	$ 21,562	$ 20,073
Accrued income and other taxes	7,412	8,205
Accrued warranty	3,668	3,177
Employee stock purchase plan contributions withheld	1,829	4,263
Other accrued expenses	3,245	5,319
Accrued liabilities	$ 37,716	$ 41,037

Fair Value and Derivative Ins_3

Fair Value and Derivative Instruments - Fair Value Assets Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 30, 2024	Dec. 30, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	$ 120,981	$ 115,561
Marketable securities	162,863	150,507
Total assets	286,075	268,341
Total liabilities	(220)	(30)
Foreign exchange derivative contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liability	(220)
Foreign exchange derivative contracts \| Designated as hedging instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative contracts	61	284
Derivative liability		(30)
Interest rate swap derivative contract \| Designated as hedging instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative contracts	2,170	1,989
Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	116,991	110,980
Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	2,991
Marketable securities	12,775
Commercial paper \| Designated as hedging instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable securities		13,317
Corporate bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable securities	75,880	81,350
U.S. treasuries
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	999	4,581
Marketable securities	62,579	45,837
U.S. agency securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable securities	11,629	10,003
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	117,990	115,561
Marketable securities	62,579	45,837
Total assets	180,569	161,398
Total liabilities	0	0
Level 1 \| Foreign exchange derivative contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liability	0
Level 1 \| Foreign exchange derivative contracts \| Designated as hedging instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative contracts	0	0
Derivative liability		0
Level 1 \| Interest rate swap derivative contract \| Designated as hedging instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative contracts	0	0
Level 1 \| Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	116,991	110,980
Level 1 \| Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	0
Marketable securities	0
Level 1 \| Commercial paper \| Designated as hedging instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable securities		0
Level 1 \| Corporate bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable securities	0	0
Level 1 \| U.S. treasuries
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	999	4,581
Marketable securities	62,579	45,837
Level 1 \| U.S. agency securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable securities	0	0
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	2,991	0
Marketable securities	100,284	104,670
Total assets	105,506	106,943
Total liabilities	(220)	(30)
Level 2 \| Foreign exchange derivative contracts
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative liability	(220)
Level 2 \| Foreign exchange derivative contracts \| Designated as hedging instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative contracts	61	284
Derivative liability		(30)
Level 2 \| Interest rate swap derivative contract \| Designated as hedging instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative contracts	2,170	1,989
Level 2 \| Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	0	0
Level 2 \| Commercial paper
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	2,991
Marketable securities	12,775
Level 2 \| Commercial paper \| Designated as hedging instrument
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable securities		13,317
Level 2 \| Corporate bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable securities	75,880	81,350
Level 2 \| U.S. treasuries
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	0	0
Marketable securities	0	0
Level 2 \| U.S. agency securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Marketable securities	$ 11,629	$ 10,003

Fair Value and Derivative Ins_4

Fair Value and Derivative Instruments - Foreign Currency Forward Contracts (Details) - Mar. 30, 2024 - Foreign Exchange Forward € in Thousands, ₩ in Thousands, ¥ in Thousands, $ in Thousands, $ in Thousands	EUR (€)	USD ($)	JPY (¥)	KRW (₩)	TWD ($)
Buy \| Euro Dollar
Derivative [Line Items]
Derivative, notional amount	€ 26,916	$ 29,357
Buy \| Korean Won
Derivative [Line Items]
Derivative, notional amount		2,357		₩ 3,168,510
Sell \| Japanese Yen
Derivative [Line Items]
Derivative, notional amount		16,388	¥ 2,471,086
Sell \| Taiwan Dollar
Derivative [Line Items]
Derivative, notional amount		$ 2,925			$ 93,654

Fair Value and Derivative Ins_5

Fair Value and Derivative Instruments - Additional Information (Details) - USD ($)	Mar. 30, 2024	Dec. 30, 2023	Apr. 01, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on non-recurring basis	$ 286,075,000	$ 268,341,000
Liabilities measured at fair value on non-recurring basis	220,000	$ 30,000
Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on non-recurring basis	0		$ 0
Liabilities measured at fair value on non-recurring basis	$ 0		$ 0

Warranty (Details)

Warranty (Details) - USD ($) $ in Thousands	3 Months Ended
Warranty (Details) - USD ($) $ in Thousands	Mar. 30, 2024	Apr. 01, 2023
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Balance at beginning of period	$ 3,177	$ 4,199
Accruals	2,729	1,390
Settlements	(2,238)	(1,717)
Balance at end of period	$ 3,668	$ 3,872

Property, Plant, and Equipmen_3

Property, Plant, and Equipment, net (Details) - USD ($) $ in Thousands	Mar. 30, 2024	Dec. 30, 2023
Property, Plant and Equipment [Line Items]
Sub-total	$ 497,917	$ 495,284
Less: Accumulated depreciation and amortization	(361,869)	(358,021)
Net, property, plant and equipment	136,048	137,263
Construction-in-process	69,724	67,136
Total	205,772	204,399
Land
Property, Plant and Equipment [Line Items]
Sub-total	17,124	17,124
Building and building improvements
Property, Plant and Equipment [Line Items]
Sub-total	46,375	46,526
Machinery and equipment
Property, Plant and Equipment [Line Items]
Sub-total	289,291	286,215
Computer equipment and software
Property, Plant and Equipment [Line Items]
Sub-total	46,701	46,866
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Sub-total	7,513	7,490
Leasehold improvements
Property, Plant and Equipment [Line Items]
Sub-total	$ 90,913	$ 91,063

Stockholders_ Equity and Stoc_3

Stockholders’ Equity and Stock-Based Compensation - Additional Information (Details) - USD ($)		3 Months Ended	12 Months Ended
	Oct. 30, 2023	Mar. 30, 2024	Dec. 30, 2023	Dec. 31, 2022	May 20, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase of common stock value retired through repurchase program		$ 17,398,000
PRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested (in shares)		0
2022 Share Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program duration	2 years
2023 Share Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program duration	2 years
Common Stock \| 2022 Share Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program authorized amount					$ 75,000,000
Purchase of common stock retired through repurchase program (in shares)			504,352	1,700,893
Purchase of common stock value retired through repurchase program			$ 18,600,000	$ 56,400,000
Common Stock \| 2023 Share Repurchase Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program authorized amount	$ 75,000,000
Purchase of common stock retired through repurchase program (in shares)		411,756	32,020
Purchase of common stock value retired through repurchase program		$ 17,400,000	$ 1,200,000
Amount remaining for future repurchases		$ 56,400,000

Stockholders_ Equity and Stoc_4

Stockholders’ Equity and Stock-Based Compensation - Restricted Stock Unit Activity (Details) - Equity Incentive Plan - Restricted Stock Units	3 Months Ended
	Mar. 30, 2024 $ / shares shares
Units
Beginning balance (in shares) \| shares	2,165,729
Awards granted (in shares) \| shares	16,253
Awards vested (in shares) \| shares	(122,498)
Awards canceled (in shares) \| shares	(5,431)
Ending balance (in shares) \| shares	2,054,053
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share) \| $ / shares	$ 35.85
Awards granted (in dollars per share) \| $ / shares	42.26
Awards vested (in dollars per share) \| $ / shares	30.65
Awards canceled (in dollars per share) \| $ / shares	33.90
Ending balance (in dollars per share) \| $ / shares	$ 36.16

Stockholders_ Equity and Stoc_5

Stockholders’ Equity and Stock-Based Compensation - ESPP Activity (Details) - Employee stock purchase plan	3 Months Ended
	Mar. 30, 2024 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued (in shares) \| shares	197,014
Weighted average per share purchase price (in dollars per share)	$ 25.11
Weighted average per share discount from the fair value of our common stock on the date of issuance (in dollars per share)	$ (13.66)

Stockholders_ Equity and Stoc_6

Stockholders’ Equity and Stock-Based Compensation - Stock-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 30, 2024	Apr. 01, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	$ 10,405	$ 9,290
Cost of revenues
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	1,928	1,910
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	2,613	2,372
Selling, general and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	$ 5,864	$ 5,008

Stockholders_ Equity and Stoc_7

Stockholders’ Equity and Stock-Based Compensation - Unrecognized Compensation Costs (Details) $ in Thousands	3 Months Ended
	Mar. 30, 2024 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Expense	$ 51,115
Average Expected Recognition Period in Years	1 year 9 months 18 days
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Expense	$ 40,890
Average Expected Recognition Period in Years	1 year 10 months 2 days
Performance restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Expense	$ 9,170
Average Expected Recognition Period in Years	1 year 9 months 29 days
Employee stock purchase plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized Expense	$ 1,055
Average Expected Recognition Period in Years	4 months 2 days

Net Income per Share (Details)

Net Income per Share (Details) - shares shares in Thousands	3 Months Ended
Net Income per Share (Details) - shares shares in Thousands	Mar. 30, 2024	Apr. 01, 2023
Earnings Per Share [Abstract]
Weighted-average shares used in computing basic net income per share (in shares)	77,452	77,066
Add potentially dilutive securities (in shares)	1,038	189
Weighted-average shares used in computing diluted net income per share (in shares)	78,490	77,255
Securities not included as they would have been antidilutive (in shares)	0	1,121

Leases - Narrative (Details)

Leases - Narrative (Details)	Mar. 30, 2024
Lessee, Lease, Description [Line Items]
Operating lease, renewal term	20 years
Operating lease, weighted average remaining lease term	4 years
Operating lease, weighted average discount rate	4.64%
Minimum
Lessee, Lease, Description [Line Items]
Operating lease, term of contract	1 year
Maximum
Lessee, Lease, Description [Line Items]
Operating lease, term of contract	11 years
Automobiles
Lessee, Lease, Description [Line Items]
Operating lease, term of contract	1 year
Automobiles \| Maximum
Lessee, Lease, Description [Line Items]
Operating lease, term of contract	3 years

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 30, 2024	Apr. 01, 2023
Leases [Abstract]
Operating lease expense	$ 2,130	$ 1,952
Short-term lease expense	60	157
Variable lease expense	810	746
Total lease expense	$ 3,000	$ 2,855

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Payments Under Leases (Details) - USD ($) $ in Thousands	Mar. 30, 2024	Dec. 30, 2023
Leases [Abstract]
Remainder of 2024	$ 9,037
2025	9,084
2026	7,651
2027	7,222
2028	3,903
Thereafter	1,401
Total minimum lease payments	38,298
Less: interest	(6,621)
Present value of net minimum lease payments	31,677
Less: current portion	(8,245)	$ (8,422)
Total long-term operating lease liabilities	$ 23,432	$ 25,334

Revenue - Additional Informatio

Revenue - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 30, 2024	Dec. 30, 2023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations	$ 11.3
Contract assets	5.3	$ 3.8
Contract with customer, liability	18.7	$ 18
Revenue recognized included in contracts	$ 6.5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-03-31
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	73.30%
Revenue, remaining performance obligation, expected timing of satisfaction, period	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-12-27
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	21.90%
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-12-26
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage	4.80%
Revenue, remaining performance obligation, expected timing of satisfaction, period

Operating Segments and Enterp_3

Operating Segments and Enterprise-Wide Information - Additional Information (Details)	3 Months Ended
	Mar. 30, 2024 segment
Segment Reporting [Abstract]
Number of reportable segments	2

Operating Segments and Enterp_4

Operating Segments and Enterprise-Wide Information - Operating Results by Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 30, 2024	Apr. 01, 2023
Segment Reporting Information [Line Items]
Revenues	$ 168,725	$ 167,448
Gross profit	$ 62,738	$ 61,078
Gross margin	37.20%	36.50%
Probe Cards
Segment Reporting Information [Line Items]
Revenues	$ 136,701	$ 127,328
Systems
Segment Reporting Information [Line Items]
Revenues	32,024	40,120
Operating segments \| Probe Cards
Segment Reporting Information [Line Items]
Revenues	136,701	127,328
Gross profit	$ 50,791	$ 43,623
Gross margin	37.20%	34.30%
Operating segments \| Systems
Segment Reporting Information [Line Items]
Revenues	$ 32,024	$ 40,120
Gross profit	$ 14,506	$ 20,746
Gross margin	45.30%	51.70%
Operating segments \| Corporate and Other
Segment Reporting Information [Line Items]
Revenues	$ 0	$ 0
Gross profit	$ (2,559)	$ (3,291)
Gross margin

Operating Segments and Enterp_5

Operating Segments and Enterprise-Wide Information - Revenue by Segment, Recognition Type, and Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 30, 2024	Apr. 01, 2023
Disaggregation of Revenue [Line Items]
Revenues	$ 168,725	$ 167,448
Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	136,701	127,328
Systems
Disaggregation of Revenue [Line Items]
Revenues	32,024	40,120
Taiwan
Disaggregation of Revenue [Line Items]
Revenues	29,877	40,329
Taiwan \| Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	27,179	38,897
Taiwan \| Systems
Disaggregation of Revenue [Line Items]
Revenues	2,698	1,432
United States
Disaggregation of Revenue [Line Items]
Revenues	45,766	37,731
United States \| Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	35,596	24,641
United States \| Systems
Disaggregation of Revenue [Line Items]
Revenues	10,170	13,090
China
Disaggregation of Revenue [Line Items]
Revenues	15,613	27,099
China \| Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	8,686	18,476
China \| Systems
Disaggregation of Revenue [Line Items]
Revenues	6,927	8,623
South Korea
Disaggregation of Revenue [Line Items]
Revenues	50,717	20,775
South Korea \| Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	50,672	19,572
South Korea \| Systems
Disaggregation of Revenue [Line Items]
Revenues	45	1,203
Malaysia
Disaggregation of Revenue [Line Items]
Revenues	1,863	11,270
Malaysia \| Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	1,608	10,324
Malaysia \| Systems
Disaggregation of Revenue [Line Items]
Revenues	255	946
Japan
Disaggregation of Revenue [Line Items]
Revenues	8,542	10,977
Japan \| Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	4,347	7,136
Japan \| Systems
Disaggregation of Revenue [Line Items]
Revenues	4,195	3,841
Europe
Disaggregation of Revenue [Line Items]
Revenues	8,849	9,426
Europe \| Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	3,528	3,426
Europe \| Systems
Disaggregation of Revenue [Line Items]
Revenues	5,321	6,000
Singapore
Disaggregation of Revenue [Line Items]
Revenues	4,758	5,340
Singapore \| Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	3,516	3,200
Singapore \| Systems
Disaggregation of Revenue [Line Items]
Revenues	1,242	2,140
Rest of the world
Disaggregation of Revenue [Line Items]
Revenues	2,740	4,501
Rest of the world \| Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	1,569	1,656
Rest of the world \| Systems
Disaggregation of Revenue [Line Items]
Revenues	1,171	2,845
Products transferred at a point in time
Disaggregation of Revenue [Line Items]
Revenues	164,425	163,388
Products transferred at a point in time \| Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	135,641	126,678
Products transferred at a point in time \| Systems
Disaggregation of Revenue [Line Items]
Revenues	28,784	36,710
Products and services transferred over time
Disaggregation of Revenue [Line Items]
Revenues	4,300	4,060
Products and services transferred over time \| Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	1,060	650
Products and services transferred over time \| Systems
Disaggregation of Revenue [Line Items]
Revenues	3,240	3,410
Foundry & Logic
Disaggregation of Revenue [Line Items]
Revenues	86,768	101,562
Foundry & Logic \| Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	86,768	101,562
Foundry & Logic \| Systems
Disaggregation of Revenue [Line Items]
Revenues	0	0
DRAM
Disaggregation of Revenue [Line Items]
Revenues	45,896	19,890
DRAM \| Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	45,896	19,890
DRAM \| Systems
Disaggregation of Revenue [Line Items]
Revenues	0	0
Flash
Disaggregation of Revenue [Line Items]
Revenues	4,037	5,876
Flash \| Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	4,037	5,876
Flash \| Systems
Disaggregation of Revenue [Line Items]
Revenues	0	0
Systems
Disaggregation of Revenue [Line Items]
Revenues	32,024	40,120
Systems \| Probe Cards
Disaggregation of Revenue [Line Items]
Revenues	0	0
Systems \| Systems
Disaggregation of Revenue [Line Items]
Revenues	$ 32,024	$ 40,120