ALPHA & OMEGA SEMICONDUCTOR LTD, 10-Q filed on 2/4/2016
Quarterly Report
v3.3.1.900
Document and Entity Information - shares
6 Months Ended
Dec. 31, 2015
Jan. 31, 2016
Document and Entity Information [Abstract]    
Entity Registrant Name ALPHA & OMEGA SEMICONDUCTOR Ltd  
Entity Central Index Key 0001387467  
Current Fiscal Year End Date --06-30  
Entity Filer Category Accelerated Filer  
Document Type 10-Q  
Document Period End Date Dec. 31, 2015  
Document Fiscal Year Focus 2016  
Document Fiscal Period Focus Q2  
Amendment Flag false  
Entity Common Stock, Shares Outstanding   22,137,610
v3.3.1.900
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2015
Jun. 30, 2015
Current assets:    
Cash and cash equivalents $ 81,858 $ 106,085
Restricted cash 231 368
Accounts receivable, net 26,054 38,781
Inventories 61,102 64,175
Deferred income tax assets 2,403 2,205
Other current assets 3,220 4,279
Total current assets 174,868 215,893
Property, plant and equipment, net 112,057 119,579
Intangible assets, net 16 17
Goodwill 269 269
Deferred income tax assets - long term 10,316 10,848
Other long-term assets 2,240 2,011
Total assets 299,766 348,617
Current liabilities:    
Accounts payable 33,875 44,083
Accrued liabilities 20,103 19,225
Income taxes payable 1,710 1,372
Deferred margin 761 716
Capital leases 485 941
Total current liabilities 56,934 66,337
Income taxes payable - long term 1,626 1,601
Deferred income tax liabilities 3,720 3,548
Capital leases - long term 64 64
Other long term liabilities 851 953
Total liabilities $ 63,195 $ 72,503
Commitments and contingencies (Note 8)
Preferred shares, par value $0.002 per share:    
Authorized: 10,000 shares, issued and outstanding: none at December 31, 2015 and June 30, 2015 $ 0 $ 0
Common shares, par value $0.002 per share:    
Authorized: 50,000 shares, issued and outstanding: 27,783 shares and 22,297 shares, respectively at December 31, 2015 and 27,314 shares and 26,316 shares, respectively at June 30, 2015 56 55
Treasury shares at cost, 5,486 shares at December 31, 2015 and 998 shares at June 30, 2015 (48,808) (8,593)
Additional paid-in capital 185,495 181,040
Accumulated other comprehensive income 750 905
Retained earnings 99,078 102,707
Total shareholders’ equity 236,571 276,114
Total liabilities and shareholders’ equity $ 299,766 $ 348,617
v3.3.1.900
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares
Dec. 31, 2015
Jun. 30, 2015
Common shares, par value (in dollars per share) $ 0.002 $ 0.002
Common shares, authorized (in shares) 50,000,000 50,000,000
Common stock, shares issued (in shares) 27,783,000 27,314,000
Common stock, shares outstanding (in shares) 22,297,000 26,316,000
Preferred stock, par value (in dollars per share) $ 0.002 $ 0.002
Preferred stock, shares authorized (in shares) 10,000,000 10,000,000
Preferred stock, shares issued (in shares) 0 0
Preferred stock, shares outstanding (in shares) 0 0
Treasury shares (in shares) 5,486,000 998,000
v3.3.1.900
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Revenue $ 79,825 $ 81,328 $ 161,264 $ 169,545
Cost of goods sold 64,853 66,086 131,231 136,143
Gross profit 14,972 15,242 30,033 33,402
Operating expenses        
Research and development 5,941 6,430 12,105 13,226
Selling, general and administrative 9,197 9,135 18,856 18,739
Impairment of long-lived assets 432 0 432 0
Total operating expenses 15,570 15,565 31,393 31,965
Operating income (loss) (598) (323) (1,360) 1,437
Interest income and other, net 9 26 20 74
Interest expense (7) (43) (17) (116)
Income (loss) before income taxes (596) (340) (1,357) 1,395
Income tax expense 1,015 957 2,229 2,128
Net loss $ (1,611) $ (1,297) $ (3,586) $ (733)
Net loss per share        
Basic (in dollars per share) $ (0.07) $ (0.05) $ (0.16) $ (0.03)
Diluted (in dollars per share) $ (0.07) $ (0.05) $ (0.16) $ (0.03)
Weighted average number of common shares used to compute net loss per share        
Basic (in shares) 22,269 26,577 22,483 26,481
Diluted (in shares) 22,269 26,577 22,483 26,481
v3.3.1.900
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Net loss $ (1,611) $ (1,297) $ (3,586) $ (733)
Foreign currency translation adjustment, net of tax 11 (98) (155) (146)
Total comprehensive loss $ (1,600) $ (1,395) $ (3,741) $ (879)
v3.3.1.900
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities    
Net loss $ (3,586) $ (733)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation 13,777 13,911
Amortization 1 139
Share-based compensation expense 1,874 2,379
Deferred income taxes, net 506 (174)
Loss on disposal of property and equipment 0 36
Impairment of long-lived assets 432 0
Government grant via forgiven loan 0 (250)
Changes in assets and liabilities:    
Accounts receivable 12,727 9,830
Inventories 3,073 (3,422)
Other current and long-term assets 831 307
Accounts payable (6,454) (6,940)
Income taxes payable 364 (502)
Accrued and other liabilities 897 471
Net cash provided by operating activities 24,442 15,052
Cash flows from investing activities    
Purchases of property and equipment (10,770) (6,938)
Restricted cash released 137 40
Net cash used in investing activities (10,633) (6,898)
Cash flows from financing activities    
Proceeds from exercise of stock options and ESPP 2,772 1,759
Payment for repurchase of common shares (40,257) 0
Repayments of borrowings 0 (6,429)
Principal payments on capital leases (456) (551)
Net cash used in financing activities (37,941) (5,221)
Effect of exchange rate changes on cash and cash equivalents (95) (74)
Net increase (decrease) in cash and cash equivalents (24,227) 2,859
Cash and cash equivalents at beginning of period 106,085 117,788
Cash and cash equivalents at end of period 81,858 120,647
Supplemental disclosures of non-cash investing and financing information:    
Property and equipment purchased but not yet paid 1,645 5,673
Re-issuance of treasury stock $ 43 $ 35
v3.3.1.900
The Company and Significant Accounting Policies
6 Months Ended
Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
The Company and Significant Accounting Policies
The Company and Significant Accounting Policies
The Company
Alpha and Omega Semiconductor Limited and its subsidiaries (the “Company,” "AOS," "we" or "us") design, develop and supply a broad range of power semiconductors. The Company's portfolio of products targets high-volume applications, including personal computers, flat panel TVs, LED lighting, smart phones, battery packs, consumer and industrial motor controls and power supplies for TVs, computers, servers and telecommunications equipment. The Company conducts its operations primarily in the United States of America (“USA”), Hong Kong, China, Taiwan, Korea and Japan.
Basis of Preparation
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and with the instructions to Article 10 of Securities and Exchange Commission Regulation S-X, as amended. They do not include all information and footnotes necessary for a fair presentation of financial position, results of operations and cash flows in conformity with U.S. GAAP for complete financial statements. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes contained in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2015. All significant intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, all adjustments (consisting of normal recurring adjustments and accruals) considered necessary for a fair presentation of the results of operations for the period presented have been included in the interim periods. Operating results for the six months ended December 31, 2015 are not necessarily indicative of the results that may be expected for the fiscal year ending June 30, 2016. The condensed consolidated balance sheet at June 30, 2015 is derived from the audited financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2015.
Use of Estimates
The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires the Company to make estimates, judgments and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses. To the extent there are material differences between these estimates and actual results, the Company's condensed consolidated financial statements will be affected. On an ongoing basis, the Company evaluates the estimates, judgments and assumptions including those related to stock rotation returns, price adjustments, allowance for doubtful accounts, inventory reserves, warranty accrual, income taxes, share-based compensation, and useful lives for property, plant and equipment and intangible assets.
Fair Value of Financial Instruments
The fair value of cash equivalents are based on observable market prices and have been categorized in Level 1 in the fair value hierarchy. Cash equivalents consist primarily of short term bank deposits. The carrying values of financial instruments such as cash and cash equivalents, accounts receivable and accounts payable approximate their carrying values due to their short-term maturities. The carrying value of the Company's debt is considered a reasonable estimate of fair value which is estimated by considering the current rates available to the Company for debt of the same remaining maturities, structure and terms of the debts.

Impairment of Long-Lived Assets

Long-lived assets or asset groups are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset might not be recoverable. Factors that would necessitate an impairment assessment include a significant decline in the observable market value of an asset, a significant change in the extent or manner in which an asset is used, or any other significant adverse change that would indicate that the carrying amount of an asset or group of assets may not be recoverable. Where such factors indicate potential impairment, the recoverability of an asset or asset group is assessed by determining if the carrying value of the asset or asset group exceeds the sum of the projected undiscounted cash flows expected to result from the use and eventual disposition of the assets over the remaining economic life.  The impairment loss is measured based on the difference between the carrying amount and estimated fair value.
Comprehensive Income (Loss)
Comprehensive income (loss) is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. The Company's accumulated other comprehensive income (loss) consists of cumulative foreign currency translation adjustments. Total comprehensive income (loss) is presented in the condensed consolidated statements of comprehensive income (loss).

Recent Accounting Pronouncements
    
In July 2015, the FASB issued No. 2015-11, Inventory - Simplifying the Measurement of Inventory ("ASU 2015-11"). ASU 2015-11 is additional guidance regarding the subsequent measurement of inventory by requiring inventory to be measured at the lower of cost and net realizable value. This guidance is effective for fiscal years and interim periods beginning after December 15, 2016. Early adoption is permitted. The Company does not expect the adoption of this guidance will have a material impact on its consolidated financial position, results of operations or cash flows.

In April 2015, the FASB issued ASU No. 2015-03, Interest -Imputation of Interest(Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. The amendments in this ASU require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts and the accounting for debt issue costs under IFRS. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this ASU. ASU 2015-03 is effective for the annual period ending after December 15, 2015, and interim periods within those fiscal years. Early adoption of the amendments in this Update is permitted for financial statements that have not been previously issued. The Company does not expect the adoption of this guidance will have a material impact on its consolidated financial position, results of operations or cash flows.

In February 2015, the FASB issued ASU No. 2015-2, “Consolidation (Topic 820): Amendments to the Consolidation Analysis.” ASU 2015-2 provides a revised consolidation model for all reporting entities to use in evaluating whether they should consolidate certain legal entities. All legal entities will be subject to reevaluation under this revised consolidation model. The revised consolidation model, among other things, (i) modifies the evaluation of whether limited partnerships and similar legal entities are VIEs or voting interest entities, (ii) eliminates the presumption that a general partner should consolidate a limited partnership, and (iii) modifies the consolidation analysis of reporting entities that are involved with VIEs through fee arrangements and related party relationships. ASU 2015-2 is effective for fiscal years, and interim reporting periods within those fiscal years, beginning after December 15, 2015. The Company does not expect the adoption of this guidance will have a material impact on its consolidated financial position, results of operations or cash flows.

In August 2014, the FASB issued amended standards No. 2014-15, Presentation of Financial Statements - Going Concern ("ASU 2014-15"), to provide guidance about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures requirement. The amendments (1) provide a definition of the term substantial doubt, (2) require an evaluation for each annual and interim reporting period, (3) provide principles for considering the mitigating effect of management’s plans, (4) require certain disclosures when substantial doubt is alleviated as a result of consideration of management’s plans, (5) require an express statement and other disclosures when substantial doubt is not alleviated, and (6) require an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). ASU 2014-15 is effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early adoption is permitted. The Company does not expect the adoption of this guidance will have a material impact on its consolidated financial position, results of operations or cash flows.

In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers(“ASU 2014-09”). The standard provides companies with a single model for use in accounting for revenue arising from contracts with customers and supersedes current revenue recognition guidance, including industry-specific revenue guidance. The core principle of the model is to recognize revenue when control of the goods or services transfers to the customer, as opposed to recognizing revenue when the risks and rewards transfer to the customer under the existing revenue guidance. ASU 2014-09 is effective for annual reporting periods beginning after December 15, 2016. The guidance permits companies to either apply the requirements retrospectively to all prior periods presented, or apply the requirements in the year of adoption, through a cumulative adjustment.  In July 2015, the FASB voted to amend ASU 2014-09 by approving a one-year deferral of the effective date as well as providing the option to early adopt the standard on the original effective date. In August 2015 the FASB issued ASU 2015-14, Revenue from Contracts with customers - Deferral of the Effective Date", that defers by one year the effective date of ASU 2014-09.  The ASU is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period.  The Company is in the process of evaluating the timing of its adoption and the impact of adoption on its consolidated financial statements.
v3.3.1.900
Net Income (Loss) Per Share
6 Months Ended
Dec. 31, 2015
Earnings Per Share [Abstract]  
Net Income (Loss) Per Share
Net Loss Per Share
The following table presents the calculation of basic and diluted net loss per share:
 
Three Months Ended December 31,
 
Six Months Ended December 31,
 
2015
 
2014
 
2015
 
2014
 
(in thousands, except per share data)
Numerator:
 
 
 
 
 
 
 
Net loss
$
(1,611
)
 
$
(1,297
)
 
$
(3,586
)
 
$
(733
)
 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
Basic:
 
 
 
 
 
 
 
Weighted average number of common shares used to compute basic net loss per share
22,269

 
26,577

 
22,483

 
26,481

Diluted:
 
 
 
 
 
 
 
Weighted average number of common shares used to compute diluted net loss per share
22,269

 
26,577

 
22,483

 
26,481

Net loss per share:
 
 
 
 
 
 
 
Basic
$
(0.07
)
 
$
(0.05
)
 
$
(0.16
)
 
$
(0.03
)
Diluted
$
(0.07
)
 
$
(0.05
)
 
$
(0.16
)
 
$
(0.03
)

The following potential dilutive securities were excluded from the computation of diluted net loss per share as their effect would have been anti-dilutive:
 
Three Months Ended December 31,
 
Six Months Ended December 31,
 
2015
 
2014
 
2015
 
2014
 
(in thousands)
Employee stock options and RSUs
3,299

 
3,694

 
3,458

 
3,758

ESPP to purchase common shares
551

 
462

 
369

 
441

Total potential dilutive securities
3,850

 
4,156

 
3,827

 
4,199

v3.3.1.900
Concentration of Credit Risk and Significant Customers
6 Months Ended
Dec. 31, 2015
Risks and Uncertainties [Abstract]  
Concentration of Credit Risk and Significant Customers
Concentration of Credit Risk and Significant Customers
The Company manages its credit risk associated with exposure to distributors and direct customers on outstanding accounts receivable through the application of credit approvals, credit ratings and other monitoring procedures. In some instances, the Company also obtains letters of credit from certain customers.
Credit sales, which are mainly on credit terms of 30 to 60 days, are only made to customers who meet the Company's credit requirements, while sales to new customers or customers with low credit ratings are usually made on an advance payment basis. The Company considers its trade accounts receivable to be of good credit quality because its key distributors and direct customers have long-standing business relationships with the Company and the Company has not experienced any significant bad debt write-offs of accounts receivable in the past. The Company closely monitors the aging of accounts receivable from its distributors and direct customers, and regularly reviews their financial positions, when available.
Summarized below are individual customers whose revenue or accounts receivable balances were 10% or higher than the respective total consolidated amounts:
 
Three Months Ended December 31,
 
Six Months Ended December 31,
Percentage of revenue
2015
 
2014
 
2015
 
2014
Customer A
24.0
%
 
24.2
%
 
23.6
%
 
24.2
%
Customer B
39.6
%
 
37.1
%
 
37.8
%
 
38.4
%
Customer C
10.8
%
 
11.5
%
 
12.6
%
 
12.2
%

 
December 31,
2015
 
June 30,
2015
Percentage of accounts receivable
 
Customer A
28.5
%
 
29.4
%
Customer B
18.4
%
 
27.7
%
Customer C
21.8
%
 
14.7
%
v3.3.1.900
Balance Sheet Components
6 Months Ended
Dec. 31, 2015
Balance Sheet Related Disclosures [Abstract]  
Balance Sheet Components
Balance Sheet Components
Accounts receivable:
 
December 31,
2015
 
June 30,
2015
 
(in thousands)
Accounts receivable
$
42,489

 
$
58,249

Less: Allowance for price adjustments
(16,405
)
 
(19,438
)
Less: Allowance for doubtful accounts
(30
)
 
(30
)
Accounts receivable, net
$
26,054

 
$
38,781



Inventories:
 
December 31,
2015
 
June 30,
2015
 
(in thousands)
Raw materials
$
18,917

 
$
19,423

Work in-process
33,015

 
31,269

Finished goods
9,170

 
13,483

 
$
61,102

 
$
64,175


Property, plant and equipment, net:
 
December 31,
2015
 
June 30,
2015
 
(in thousands)
Land
$
4,877

 
$
4,877

Building
4,243

 
4,243

Manufacturing machinery and equipment
187,862

 
172,467

Equipment and tooling
12,125

 
11,261

Computer equipment and software
20,931

 
20,602

Office furniture and equipment
1,780

 
1,762

Leasehold improvements
28,098

 
27,568

 
259,916

 
242,780

Less: Accumulated depreciation
(155,416
)
 
(141,883
)
 
104,500

 
100,897

Equipment and construction in progress
7,557

 
18,682

Property, plant and equipment, net
$
112,057

 
$
119,579


Other long-term assets:
 
December 31,
2015
 
June 30,
2015
 
(in thousands)
Prepayments for property and equipment
$
324

 
$
692

Investment in a privately held company
100

 
100

Office leases deposits
1,814

 
1,215

Other
2

 
4

 
$
2,240

 
$
2,011


Accrued liabilities:
 
December 31,
2015
 
June 30,
2015
 
(in thousands)
Accrued compensation and benefit
$
6,387

 
$
5,600

Accrued vacation
1,771

 
1,830

Accrued bonuses
1,292

 
1,152

Warranty accrual
1,596

 
1,957

Stock rotation accrual
1,872

 
1,894

Accrued professional fees
1,631

 
1,402

ESPP payable
357

 
343

Customer deposits
830

 
149

Accrued inventory
268

 
697

Accrued facilities related expenses
1,469

 
1,367

Other accrued expenses
2,630

 
2,834

 
$
20,103

 
$
19,225




The activities in the warranty accrual, included in accrued liabilities, are as follows:
 
Six Months Ended December 31,
 
2015
 
2014
 
(in thousands)
Beginning balance
$
1,957

 
$
1,346

Additions
747

 
910

Utilization
(1,108
)
 
(1,068
)
Ending balance
$
1,596

 
$
1,188


The activities in the stock rotation accrual, included in accrued liabilities, are as follows:
 
Six Months Ended December 31,
 
2015
 
2014
 
(in thousands)
Beginning balance
$
1,894

 
$
1,645

Additions
3,120

 
2,820

Utilization
(3,142
)
 
(2,802
)
Ending balance
$
1,872

 
$
1,663


Other Long-term liabilities:
 
December 31,
2015
 
June 30,
2015
 
(in thousands)
Deferred rent
$
851

 
$
953

v3.3.1.900
Shareholders' Equity and Share-based Compensation
6 Months Ended
Dec. 31, 2015
Share-based Compensation [Abstract]  
Shareholders' Equity and Share-based Compensation
Shareholders' Equity and Share-based Compensation
Share Repurchase

In April 2015, the Board of Directors approved an increase in the remaining available amount under the Company’s then effective share repurchase program from approximately $17.8 million to $50.0 million. The repurchases may be made from the open market pursuant to a pre-established Rule 10b5-1 trading plan (as amended, the "Repurchase Trading Plan") or through privately negotiated transactions. The amount and timing of any repurchases depend on a number of factors, including but not limited to, the Company's trading price, volume and availability of its common shares, applicable legal requirements, its business and financial conditions an general market environment. There is no guarantee that any repurchases under the Program will be made or that such repurchases would enhance the value of our shares. The Company accounts for treasury stock under the cost method. Shares repurchased are accounted for as treasury shares and the total cost of shares repurchased is recorded as a reduction of shareholders' equity. From time to time, treasury shares may be reissued as part of the Company's stock-based compensation programs. Gains on re-issuance of treasury stock are credited to additional paid-in capital; losses are charged to additional paid-in capital to offset the net gains, if any, from previous sales or re-issuance of treasury stock. Any remaining balance of the losses are charged to retained earnings.

In June 2015, the Company commenced a modified Dutch auction tender offer (the "Tender Offer") to repurchase an aggregate of $30.0 million of its outstanding common shares with a price range between $8.50 and $9.20 per share. In July 2015, the Company completed the Tender Offer in which it purchased 3,296,703 shares of its common shares, at a purchase price of $9.10 per share, for an aggregate purchase price of $30.0 million, excluding fees and expenses relating to the Tender Offer. These shares represented approximately 12.53% of the total number of the Company's common shares issued and outstanding as of June 30, 2015. The Tender Offer was part of the $50.0 million share repurchase program approved by the Board in April 15, 2015. Immediately following the completion of the Tender Offer, approximately $18.2 million remained available under the share repurchase program.
 
During the six months ended December 31, 2015, the Company repurchased 4,491,375 shares from the open market, including 3,296,703 shares in the Tender Offer, for a total cost of $40.0 million, at an average price of $8.90 per share, excluding fees and related expenses of $0.3 million, under the share repurchase program.  Since the inception of the program in 2010, the Company repurchased an aggregate of 5,518,969 shares from the open market for a total cost of $48.9 million, at an average price of $8.87 per share, excluding fees and related expenses.  No repurchased shares have been retired. Of the 5,518,969 repurchased shares, 32,766 shares with a weighted average repurchase price of $13.85 per share, were reissued at an average price of $1.98 per share for option exercises and vested restricted share units.

Stock Options
The following table summarizes the Company's stock option activities for the six months ended December 31, 2015:
 
 
 
Weighted
 
 
 
 
 
Average
 
 
 
Number of
 
Exercise Price
 
Aggregate
 
Shares
 
Per Share
 
Intrinsic Value
Outstanding at June 30, 2015
2,836,217

 
$
10.77

 
$
1,410,538

Granted

 
$

 
 
Exercised
(277,916
)
 
$
7.05

 
$
458,006

Canceled or forfeited
(304,012
)
 
$
12.45

 
 
Outstanding at December 31, 2015
2,254,289

 
$
11.01

 
$
1,226,993


Information with respect to stock options outstanding and exercisable at December 31, 2015 is as follows:
 
Options Outstanding  
 
Options Vested and Exercisable  
 
Number Outstanding
 
Weighted-Average
Remaining Contractual Life (years) 
 
Weighted-Average
Exercise Price
 
Number Exercisable
 
Weighted-Average
Exercise Price
Total options outstanding
2,254,289

 
4.85
 
$
11.01

 
1,890,474

 
$
11.62

Options vested and expected to vest
2,222,601

 
4.80
 
$
11.05

 
 
 
 
Options expected to vest are the result of applying the pre-vesting forfeiture rate assumption to total outstanding options.
The fair value of stock options granted were estimated at the date of grant using the Black-Scholes option valuation model for the six months ended December 31, 2015 with the following weighted average assumptions:
 
Six Months Ended December 31,
 
2015
Volatility rate
39.91%
Risk-free interest rate
1.6% - 1.7%
Expected term
5.5 years
Dividend yield
0%

Historically, the Company estimates its expected volatility based on that of the publicly traded shares of industry peers over a period equivalent to the expected term of the stock awards granted. Beginning in July 2015, the Company's publicly traded shares history is also included in estimating the volatility rate.


Restricted Stock Units ("RSU")
The following table summarizes the Company's RSU activities for the six months ended December 31, 2015:
 
Number of Restricted Stock
Units
 
Weighted Average
Grant Date Fair
Value Per Share
 
Weighted Average
Remaining
Recognition
Period (Years)
 
Aggregate Intrinsic Value
Nonvested at June 30, 2015
873,946

 
$
8.64

 
1.77
 
$
7,638,288

Granted
89,402

 
$
8.41

 
 
 
 
Vested
(87,676
)
 
$
9.35

 
 
 
 
Forfeited
(79,143
)
 
$
8.74

 
 
 
 
Nonvested at December 31, 2015
796,529

 
$
8.53

 
1.45
 
$
7,320,102

RSUs vested and expected to vest
701,811

 
 
 
1.35
 
$
6,449,648

The fair value of RSU is estimated based on the market price of the Company's share on the date of grant.
Employee Share Purchase Plan ("ESPP")
The assumptions used to estimate the fair values of common shares issued under the ESPP were as follows:
 
 
 
Six Months Ended December 31,
 
2015
Volatility rate
32.2%
Risk-free interest rate
0.3% - 0.9%
Expected term
1.3 years
Dividend yield
0%

Share-based Compensation Expense
The total share-based compensation expense related to stock options, ESPP and RSUs described above, recognized in the condensed consolidated statements of operations for the periods presented was as follows:
 
Three Months Ended December 31,
 
Six Months Ended December 31,
 
2015
 
2014
 
2015
 
2014
 
(in thousands)
 
(in thousands)
Cost of goods sold
$
157

 
$
174

 
$
288

 
$
328

Research and development
264

 
293

 
457

 
499

Selling, general and administrative
664

 
810

 
1,129

 
1,552

 
$
1,085

 
$
1,277

 
$
1,874

 
$
2,379


Total unrecognized stock-based compensation expense as of December 31, 2015 was $4.2 million, which includes estimated forfeitures and is expected to be recognized over a weighted-average period of 1.3 years.
v3.3.1.900
Income Taxes
6 Months Ended
Dec. 31, 2015
Income Tax Disclosure [Abstract]  
Income Taxes
Income Taxes
The Company recognized income tax expense of approximately $1.0 million for both of the three months ended December 31, 2015 and 2014, respectively. The Company recognized income tax expense of approximately $2.2 million and $2.1 million for the six months ended December 31, 2015 and 2014, respectively. The estimated effective tax rate for the three months ended December 31, 2015 was (170.3)% compared to (281.5)% for the three months ended December 31, 2014. The estimated effective tax rate for the six months ended December 31, 2015 was (164.3)% compared to 152.5% for the six months ended December 31, 2014. The changes in the effective tax rate and tax expense between the periods resulted primarily from changes in the mix of earnings in various geographic jurisdictions between the current and same period of last year.
The Company files its income tax returns in the United States and in various foreign jurisdictions. The tax years 2001 to 2015 remain open to examination by U.S. federal and state tax authorities. The tax years 2009 to 2015 remain open to examination by foreign tax authorities.
The Company's income tax returns are subject to examinations by the Internal Revenue Service and other tax authorities in various jurisdictions. In accordance with the guidance on the accounting for uncertainty in income taxes, the Company regularly assesses the likelihood of adverse outcomes resulting from these examinations to determine the adequacy of its provision for income taxes. These assessments can require considerable estimates and judgments. As of December 31, 2015, the gross amount of unrecognized tax benefits was approximately $6.6 million, of which $4.4 million, if recognized, would reduce the effective income tax rate in future periods. If the Company's estimate of income tax liabilities proves to be less than the ultimate assessment, then a further charge to expense would be required. If events occur and the payment of these amounts ultimately proves to be unnecessary, the reversal of the liabilities would result in tax benefits being recognized in the period when the Company determines the liabilities are no longer necessary. The Company does not anticipate any material changes to its uncertain tax positions during the next twelve months.

On July 27, 2015, in Altera Corp. v. Commissioner, the U.S. Tax Court issued an opinion related to the treatment of stock-based compensation expense in an intercompany cost-sharing arrangement. A final decision has yet to be issued by the Tax Court due to other outstanding issues related to the case. At this time, the U.S. Department of the Treasury has not withdrawn the requirement to include stock-based compensation from its regulations. Due to the uncertainty surrounding the status of the current regulations, questions related to the scope of potential benefits, and the risk of the Tax Court’s decision being overturned upon appeal, the Company has not recorded any benefit as of December 31, 2015. The Company will continue to monitor ongoing developments and potential impacts to its financial statements.
v3.3.1.900
Segment and Geographic Information
6 Months Ended
Dec. 31, 2015
Segment Reporting [Abstract]  
Segment and Geographic Information
Segment and Geographic Information
The Company is organized as, and operates in, one operating segment: the design, development and supply of power semiconductor products for computing, consumer electronics, communication and industrial applications. The chief operating decision-maker is the Chief Executive Officer. The financial information presented to the Company's Chief Executive Officer is on a consolidated basis, accompanied by information about revenue by customer and geographic region, for purposes of evaluating financial performance and allocating resources. The Company has one business segment, and there are no segment managers who are held accountable for operations, operating results and plans for products or components below the consolidated unit level. Accordingly, the Company reports as a single operating segment.
The Company sells its products primarily to distributors in the Asia Pacific region, who in turn sell these products to end customers. Because the Company's distributors sell their products to end customers which may have a global presence, revenue by geographical location is not necessarily representative of the geographical distribution of sales to end user markets.
The revenue by geographical location in the following tables is based on the country or region to which the products were shipped to:
 
Three Months Ended December 31,
 
Six Months Ended December 31,
 
2015
 
2014
 
2015
 
2014
 
(in thousands)
 
(in thousands)
Hong Kong
$
69,904

 
$
70,278

 
$
140,357

 
$
145,525

China
7,922

 
8,823

 
16,938

 
19,780

South Korea
442

 
524

 
1,100

 
1,163

United States
784

 
881

 
1,501

 
1,564

Other Countries
773

 
822

 
1,368

 
1,513

 
$
79,825

 
$
81,328

 
$
161,264

 
$
169,545

The following is a summary of revenue by product type:
 
Three Months Ended December 31,
 
Six Months Ended December 31,
 
2015
 
2014
 
2015
 
2014
 
(in thousands)
 
(in thousands)
Power discrete
$
59,392

 
$
61,203

 
$
119,305

 
$
126,094

Power IC
16,400

 
16,109

 
$
33,913

 
$
35,265

Packaging and testing services
4,033

 
4,016

 
$
8,046

 
$
8,186

 
$
79,825

 
$
81,328

 
$
161,264

 
$
169,545

 
Long-lived assets, net consisting of property, plant and equipment, by geographical area are as follows:
 
December 31,
2015
 
June 30,
2015
 
(in thousands)
China
$
66,907

 
$
71,618

United States
44,572

 
47,439

Other Countries
578

 
522

 
$
112,057

 
$
119,579

v3.3.1.900
Commitments and Contingencies
6 Months Ended
Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies
Commitments and Contingencies
Purchase Commitments
As of December 31, 2015 and June 30, 2015, the Company had approximately $39.0 million and $29.2 million, respectively, of outstanding purchase commitments primarily for purchases of semiconductor raw materials, wafers, spare parts and packaging and testing services, and approximately $5.2 million and $3.7 million, respectively, of capital commitments for the purchase of property and equipment.
Contingencies and Indemnities
The Company is currently not a party to any pending material legal proceedings. The Company has in the past, and may from time to time in the future, become involved in legal proceedings arising from the normal course of business activities.  The semiconductor industry is characterized by frequent claims and litigation, including claims regarding patent and other intellectual property rights as well as improper hiring practices. Irrespective of the validity of such claims, the Company could incur significant costs in the defense of such claims and suffer adverse effects on its operations.
The Company is a party to a variety of agreements that it has contracted with various third parties. Pursuant to these agreements, the Company may be obligated to indemnify another party to such an agreement with respect to certain matters. Typically, these obligations arise in the context of contracts entered into by the Company, under which the Company customarily agrees to hold the other party harmless against losses arising from a breach of representations and covenants related to such matters as title to assets sold, certain intellectual property rights, specified environmental matters and certain income taxes. In these circumstances, payment by the Company is customarily conditioned on the other party making a claim pursuant to the procedures specified in the particular contract, which procedures typically allow the Company to challenge the other party's claim. Further, the Company's obligations under these agreements may be limited in time and/or amount, and in some instances, the Company may have recourse against third parties for certain payments made by it under these agreements. The Company has not historically paid or recorded any material indemnifications and no accrual has been made at December 31, 2015 and June 30, 2015.
The Company has agreed to indemnify its directors and certain employees as permitted by law and pursuant to its bye-laws, and has entered into indemnification agreements with its directors and executive officers. The Company has not recorded a liability associated with these indemnification arrangements, as it historically has not incurred any material costs associated with such indemnification obligations. Costs associated with such indemnification obligations may be mitigated by insurance coverage that the Company maintains. However, such insurance may not cover any, or may cover only a portion of, the amounts the Company may be required to pay. In addition, the Company may not be able to maintain such insurance coverage in the future.
v3.3.1.900
The Company and Significant Accounting Policies (Policies)
6 Months Ended
Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Concentration Risk, Credit Risk, Policy [Policy Text Block]
The Company manages its credit risk associated with exposure to distributors and direct customers on outstanding accounts receivable through the application of credit approvals, credit ratings and other monitoring procedures. In some instances, the Company also obtains letters of credit from certain customers.
Credit sales, which are mainly on credit terms of 30 to 60 days, are only made to customers who meet the Company's credit requirements, while sales to new customers or customers with low credit ratings are usually made on an advance payment basis. The Company considers its trade accounts receivable to be of good credit quality because its key distributors and direct customers have long-standing business relationships with the Company and the Company has not experienced any significant bad debt write-offs of accounts receivable in the past. The Company closely monitors the aging of accounts receivable from its distributors and direct customers, and regularly reviews their financial positions, when available.
Basis of Preparation
Basis of Preparation
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and with the instructions to Article 10 of Securities and Exchange Commission Regulation S-X, as amended. They do not include all information and footnotes necessary for a fair presentation of financial position, results of operations and cash flows in conformity with U.S. GAAP for complete financial statements. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes contained in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2015. All significant intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, all adjustments (consisting of normal recurring adjustments and accruals) considered necessary for a fair presentation of the results of operations for the period presented have been included in the interim periods. Operating results for the six months ended December 31, 2015 are not necessarily indicative of the results that may be expected for the fiscal year ending June 30, 2016. The condensed consolidated balance sheet at June 30, 2015 is derived from the audited financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2015.
Use of Estimates
Use of Estimates
The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires the Company to make estimates, judgments and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses. To the extent there are material differences between these estimates and actual results, the Company's condensed consolidated financial statements will be affected. On an ongoing basis, the Company evaluates the estimates, judgments and assumptions including those related to stock rotation returns, price adjustments, allowance for doubtful accounts, inventory reserves, warranty accrual, income taxes, share-based compensation, and useful lives for property, plant and equipment and intangible assets.
Fair Value of Financial Instruments
Fair Value of Financial Instruments
The fair value of cash equivalents are based on observable market prices and have been categorized in Level 1 in the fair value hierarchy. Cash equivalents consist primarily of short term bank deposits. The carrying values of financial instruments such as cash and cash equivalents, accounts receivable and accounts payable approximate their carrying values due to their short-term maturities. The carrying value of the Company's debt is considered a reasonable estimate of fair value which is estimated by considering the current rates available to the Company for debt of the same remaining maturities, structure and terms of the debts.
Impairment of Long-Lived Assets [Policy Text Block]
Impairment of Long-Lived Assets

Long-lived assets or asset groups are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset might not be recoverable. Factors that would necessitate an impairment assessment include a significant decline in the observable market value of an asset, a significant change in the extent or manner in which an asset is used, or any other significant adverse change that would indicate that the carrying amount of an asset or group of assets may not be recoverable. Where such factors indicate potential impairment, the recoverability of an asset or asset group is assessed by determining if the carrying value of the asset or asset group exceeds the sum of the projected undiscounted cash flows expected to result from the use and eventual disposition of the assets over the remaining economic life.  The impairment loss is measured based on the difference between the carrying amount and estimated fair value.
Comprehensive Income (Loss)
Comprehensive Income (Loss)
Comprehensive income (loss) is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. The Company's accumulated other comprehensive income (loss) consists of cumulative foreign currency translation adjustments. Total comprehensive income (loss) is presented in the condensed consolidated statements of comprehensive income (loss).
Recent Accounting Pronouncements
Recent Accounting Pronouncements
    
In July 2015, the FASB issued No. 2015-11, Inventory - Simplifying the Measurement of Inventory ("ASU 2015-11"). ASU 2015-11 is additional guidance regarding the subsequent measurement of inventory by requiring inventory to be measured at the lower of cost and net realizable value. This guidance is effective for fiscal years and interim periods beginning after December 15, 2016. Early adoption is permitted. The Company does not expect the adoption of this guidance will have a material impact on its consolidated financial position, results of operations or cash flows.

In April 2015, the FASB issued ASU No. 2015-03, Interest -Imputation of Interest(Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. The amendments in this ASU require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts and the accounting for debt issue costs under IFRS. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this ASU. ASU 2015-03 is effective for the annual period ending after December 15, 2015, and interim periods within those fiscal years. Early adoption of the amendments in this Update is permitted for financial statements that have not been previously issued. The Company does not expect the adoption of this guidance will have a material impact on its consolidated financial position, results of operations or cash flows.

In February 2015, the FASB issued ASU No. 2015-2, “Consolidation (Topic 820): Amendments to the Consolidation Analysis.” ASU 2015-2 provides a revised consolidation model for all reporting entities to use in evaluating whether they should consolidate certain legal entities. All legal entities will be subject to reevaluation under this revised consolidation model. The revised consolidation model, among other things, (i) modifies the evaluation of whether limited partnerships and similar legal entities are VIEs or voting interest entities, (ii) eliminates the presumption that a general partner should consolidate a limited partnership, and (iii) modifies the consolidation analysis of reporting entities that are involved with VIEs through fee arrangements and related party relationships. ASU 2015-2 is effective for fiscal years, and interim reporting periods within those fiscal years, beginning after December 15, 2015. The Company does not expect the adoption of this guidance will have a material impact on its consolidated financial position, results of operations or cash flows.

In August 2014, the FASB issued amended standards No. 2014-15, Presentation of Financial Statements - Going Concern ("ASU 2014-15"), to provide guidance about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures requirement. The amendments (1) provide a definition of the term substantial doubt, (2) require an evaluation for each annual and interim reporting period, (3) provide principles for considering the mitigating effect of management’s plans, (4) require certain disclosures when substantial doubt is alleviated as a result of consideration of management’s plans, (5) require an express statement and other disclosures when substantial doubt is not alleviated, and (6) require an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). ASU 2014-15 is effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early adoption is permitted. The Company does not expect the adoption of this guidance will have a material impact on its consolidated financial position, results of operations or cash flows.

In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers(“ASU 2014-09”). The standard provides companies with a single model for use in accounting for revenue arising from contracts with customers and supersedes current revenue recognition guidance, including industry-specific revenue guidance. The core principle of the model is to recognize revenue when control of the goods or services transfers to the customer, as opposed to recognizing revenue when the risks and rewards transfer to the customer under the existing revenue guidance. ASU 2014-09 is effective for annual reporting periods beginning after December 15, 2016. The guidance permits companies to either apply the requirements retrospectively to all prior periods presented, or apply the requirements in the year of adoption, through a cumulative adjustment.  In July 2015, the FASB voted to amend ASU 2014-09 by approving a one-year deferral of the effective date as well as providing the option to early adopt the standard on the original effective date. In August 2015 the FASB issued ASU 2015-14, Revenue from Contracts with customers - Deferral of the Effective Date", that defers by one year the effective date of ASU 2014-09.  The ASU is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period.  The Company is in the process of evaluating the timing of its adoption and the impact of adoption on its consolidated financial statements.
v3.3.1.900
Net Income (Loss) Per Share (Tables)
6 Months Ended
Dec. 31, 2015
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
The following table presents the calculation of basic and diluted net loss per share:
 
Three Months Ended December 31,
 
Six Months Ended December 31,
 
2015
 
2014
 
2015
 
2014
 
(in thousands, except per share data)
Numerator:
 
 
 
 
 
 
 
Net loss
$
(1,611
)
 
$
(1,297
)
 
$
(3,586
)
 
$
(733
)
 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
Basic:
 
 
 
 
 
 
 
Weighted average number of common shares used to compute basic net loss per share
22,269

 
26,577

 
22,483

 
26,481

Diluted:
 
 
 
 
 
 
 
Weighted average number of common shares used to compute diluted net loss per share
22,269

 
26,577

 
22,483

 
26,481

Net loss per share:
 
 
 
 
 
 
 
Basic
$
(0.07
)
 
$
(0.05
)
 
$
(0.16
)
 
$
(0.03
)
Diluted
$
(0.07
)
 
$
(0.05
)
 
$
(0.16
)
 
$
(0.03
)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share
The following potential dilutive securities were excluded from the computation of diluted net loss per share as their effect would have been anti-dilutive:
 
Three Months Ended December 31,
 
Six Months Ended December 31,
 
2015
 
2014
 
2015
 
2014
 
(in thousands)
Employee stock options and RSUs
3,299

 
3,694

 
3,458

 
3,758

ESPP to purchase common shares
551

 
462

 
369

 
441

Total potential dilutive securities
3,850

 
4,156

 
3,827

 
4,199

v3.3.1.900
Concentration of Credit Risk and Significant Customers (Tables)
6 Months Ended
Dec. 31, 2015
Risks and Uncertainties [Abstract]  
Schedules of Concentration of Risk, by Risk Factor
Summarized below are individual customers whose revenue or accounts receivable balances were 10% or higher than the respective total consolidated amounts:
 
Three Months Ended December 31,
 
Six Months Ended December 31,
Percentage of revenue
2015
 
2014
 
2015
 
2014
Customer A
24.0
%
 
24.2
%
 
23.6
%
 
24.2
%
Customer B
39.6
%
 
37.1
%
 
37.8
%
 
38.4
%
Customer C
10.8
%
 
11.5
%
 
12.6
%
 
12.2
%

 
December 31,
2015
 
June 30,
2015
Percentage of accounts receivable
 
Customer A
28.5
%
 
29.4
%
Customer B
18.4
%
 
27.7
%
Customer C
21.8
%
 
14.7
%
v3.3.1.900
Balance Sheet Components (Tables)
6 Months Ended
Dec. 31, 2015
Balance Sheet Related Disclosures [Abstract]  
Schedule of Accounts, Notes, Loans and Financing Receivable
Accounts receivable:
 
December 31,
2015
 
June 30,
2015
 
(in thousands)
Accounts receivable
$
42,489

 
$
58,249

Less: Allowance for price adjustments
(16,405
)
 
(19,438
)
Less: Allowance for doubtful accounts
(30
)
 
(30
)
Accounts receivable, net
$
26,054

 
$
38,781

Schedule of Inventory, Current
Inventories:
 
December 31,
2015
 
June 30,
2015
 
(in thousands)
Raw materials
$
18,917

 
$
19,423

Work in-process
33,015

 
31,269

Finished goods
9,170

 
13,483

 
$
61,102

 
$
64,175

Property, Plant and Equipment
Property, plant and equipment, net:
 
December 31,
2015
 
June 30,
2015
 
(in thousands)
Land
$
4,877

 
$
4,877

Building
4,243

 
4,243

Manufacturing machinery and equipment
187,862

 
172,467

Equipment and tooling
12,125

 
11,261

Computer equipment and software
20,931

 
20,602

Office furniture and equipment
1,780

 
1,762

Leasehold improvements
28,098

 
27,568

 
259,916

 
242,780

Less: Accumulated depreciation
(155,416
)
 
(141,883
)
 
104,500

 
100,897

Equipment and construction in progress
7,557

 
18,682

Property, plant and equipment, net
$
112,057

 
$
119,579

Schedule of Other Assets, Noncurrent
Other long-term assets:
 
December 31,
2015
 
June 30,
2015
 
(in thousands)
Prepayments for property and equipment
$
324

 
$
692

Investment in a privately held company
100

 
100

Office leases deposits
1,814

 
1,215

Other
2

 
4

 
$
2,240

 
$
2,011

Schedule of Accrued Liabilities
Accrued liabilities:
 
December 31,
2015
 
June 30,
2015
 
(in thousands)
Accrued compensation and benefit
$
6,387

 
$
5,600

Accrued vacation
1,771

 
1,830

Accrued bonuses
1,292

 
1,152

Warranty accrual
1,596

 
1,957

Stock rotation accrual
1,872

 
1,894

Accrued professional fees
1,631

 
1,402

ESPP payable
357

 
343

Customer deposits
830

 
149

Accrued inventory
268

 
697

Accrued facilities related expenses
1,469

 
1,367

Other accrued expenses
2,630

 
2,834

 
$
20,103

 
$
19,225

Schedule of Product Warranty Liability
The activities in the warranty accrual, included in accrued liabilities, are as follows:
 
Six Months Ended December 31,
 
2015
 
2014
 
(in thousands)
Beginning balance
$
1,957

 
$
1,346

Additions
747

 
910

Utilization
(1,108
)
 
(1,068
)
Ending balance
$
1,596

 
$
1,188

Stock Rotation Accrual
The activities in the stock rotation accrual, included in accrued liabilities, are as follows:
 
Six Months Ended December 31,
 
2015
 
2014
 
(in thousands)
Beginning balance
$
1,894

 
$
1,645

Additions
3,120

 
2,820

Utilization
(3,142
)
 
(2,802
)
Ending balance
$
1,872

 
$
1,663

Schedule of Other Noncurrent Liabilities
Other Long-term liabilities:
 
December 31,
2015
 
June 30,
2015
 
(in thousands)
Deferred rent
$
851

 
$
953

v3.3.1.900
Shareholders' Equity and Share-based Compensation (Tables)
6 Months Ended
Dec. 31, 2015
Share-based Compensation [Abstract]  
Summary of Stock Option Activities
Stock Options
The following table summarizes the Company's stock option activities for the six months ended December 31, 2015:
 
 
 
Weighted
 
 
 
 
 
Average
 
 
 
Number of
 
Exercise Price
 
Aggregate
 
Shares
 
Per Share
 
Intrinsic Value
Outstanding at June 30, 2015
2,836,217

 
$
10.77

 
$
1,410,538

Granted

 
$

 
 
Exercised
(277,916
)
 
$
7.05

 
$
458,006

Canceled or forfeited
(304,012
)
 
$
12.45

 
 
Outstanding at December 31, 2015
2,254,289

 
$
11.01

 
$
1,226,993


Information with respect to stock options outstanding and exercisable at December 31, 2015 is as follows:
 
Options Outstanding  
 
Options Vested and Exercisable  
 
Number Outstanding
 
Weighted-Average
Remaining Contractual Life (years) 
 
Weighted-Average
Exercise Price
 
Number Exercisable
 
Weighted-Average
Exercise Price
Total options outstanding
2,254,289

 
4.85
 
$
11.01

 
1,890,474

 
$
11.62

Options vested and expected to vest
2,222,601

 
4.80
 
$
11.05

 
 
 
 
Options expected to vest are the result of applying the pre-vesting forfeiture rate assumption to total outstanding options.
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
The fair value of stock options granted were estimated at the date of grant using the Black-Scholes option valuation model for the six months ended December 31, 2015 with the following weighted average assumptions:
 
Six Months Ended December 31,
 
2015
Volatility rate
39.91%
Risk-free interest rate
1.6% - 1.7%
Expected term
5.5 years
Dividend yield
0%

Historically, the Company estimates its expected volatility based on that of the publicly traded shares of industry peers over a period equivalent to the expected term of the stock awards granted. Beginning in July 2015, the Company's publicly traded shares history is also included in estimating the volatility rate.
Restricted Stock Units Activity
Restricted Stock Units ("RSU")
The following table summarizes the Company's RSU activities for the six months ended December 31, 2015:
 
Number of Restricted Stock
Units
 
Weighted Average
Grant Date Fair
Value Per Share
 
Weighted Average
Remaining
Recognition
Period (Years)
 
Aggregate Intrinsic Value
Nonvested at June 30, 2015
873,946

 
$
8.64

 
1.77
 
$
7,638,288

Granted
89,402

 
$
8.41

 
 
 
 
Vested
(87,676
)
 
$
9.35

 
 
 
 
Forfeited
(79,143
)
 
$
8.74

 
 
 
 
Nonvested at December 31, 2015
796,529

 
$
8.53

 
1.45
 
$
7,320,102

RSUs vested and expected to vest
701,811

 
 
 
1.35
 
$
6,449,648

The fair value of RSU is estimated based on the market price of the Company's share on the date of grant.
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block]
Employee Share Purchase Plan ("ESPP")
The assumptions used to estimate the fair values of common shares issued under the ESPP were as follows:
 
 
 
Six Months Ended December 31,
 
2015
Volatility rate
32.2%
Risk-free interest rate
0.3% - 0.9%
Expected term
1.3 years
Dividend yield
0%
Share-based Compensation, Allocation of Recognized Period Costs
Share-based Compensation Expense
The total share-based compensation expense related to stock options, ESPP and RSUs described above, recognized in the condensed consolidated statements of operations for the periods presented was as follows:
 
Three Months Ended December 31,
 
Six Months Ended December 31,
 
2015
 
2014
 
2015
 
2014
 
(in thousands)
 
(in thousands)
Cost of goods sold
$
157

 
$
174

 
$
288

 
$
328

Research and development
264

 
293

 
457

 
499

Selling, general and administrative
664

 
810

 
1,129

 
1,552

 
$
1,085

 
$
1,277

 
$
1,874

 
$
2,379

v3.3.1.900
Segment and Geographic Information (Tables)
6 Months Ended
Dec. 31, 2015
Segment Reporting [Abstract]  
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas
Long-lived assets, net consisting of property, plant and equipment, by geographical area are as follows:
 
December 31,
2015
 
June 30,
2015
 
(in thousands)
China
$
66,907

 
$
71,618

United States
44,572

 
47,439

Other Countries
578

 
522

 
$
112,057

 
$
119,579

The revenue by geographical location in the following tables is based on the country or region to which the products were shipped to:
 
Three Months Ended December 31,
 
Six Months Ended December 31,
 
2015
 
2014
 
2015
 
2014
 
(in thousands)
 
(in thousands)
Hong Kong
$
69,904

 
$
70,278

 
$
140,357

 
$
145,525

China
7,922

 
8,823

 
16,938

 
19,780

South Korea
442

 
524

 
1,100

 
1,163

United States
784

 
881

 
1,501

 
1,564

Other Countries
773

 
822

 
1,368

 
1,513

 
$
79,825

 
$
81,328

 
$
161,264

 
$
169,545

Revenue from External Customers by Products and Services
The following is a summary of revenue by product type:
 
Three Months Ended December 31,
 
Six Months Ended December 31,
 
2015
 
2014
 
2015
 
2014
 
(in thousands)
 
(in thousands)
Power discrete
$
59,392

 
$
61,203

 
$
119,305

 
$
126,094

Power IC
16,400

 
16,109

 
$
33,913

 
$
35,265

Packaging and testing services
4,033

 
4,016

 
$
8,046

 
$
8,186

 
$
79,825

 
$
81,328

 
$
161,264

 
$
169,545

v3.3.1.900
Net Income (Loss) Per Share - Basic and Diluted Income Per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Numerator:        
Net loss $ (1,611) $ (1,297) $ (3,586) $ (733)
Basic:        
Weighted average number of common shares used to compute basic net loss per share 22,269 26,577 22,483 26,481
Effect of potentially dilutive securities:        
Weighted average number of common shares used to compute diluted net loss per share 22,269 26,577 22,483 26,481
Net loss per share:        
Basic (in dollars per share) $ (0.07) $ (0.05) $ (0.16) $ (0.03)
Diluted (in dollars per share) $ (0.07) $ (0.05) $ (0.16) $ (0.03)
v3.3.1.900
Net Income (Loss) Per Share - Potential Dilutive Shares (Details) - shares
shares in Thousands
3 Months Ended 6 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Potential dilutive securities (in shares) 3,850 4,156 3,827 4,199
Employee stock options and RSUs        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Potential dilutive securities (in shares) 3,299 3,694 3,458 3,758
ESPP to purchase common shares        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Potential dilutive securities (in shares) 551 462 369 441
v3.3.1.900
Concentration of Credit Risk and Significant Customers - (Details)
3 Months Ended 6 Months Ended
Dec. 31, 2015
Jun. 30, 2015
Dec. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Minimum [Member]          
Concentration Risk          
Terms of credit sales, (in days)       30 days  
Maximum [Member]          
Concentration Risk          
Terms of credit sales, (in days)       60 days  
Customer A | Sales Revenue, Goods, Net | Customer Concentration Risk          
Concentration Risk          
Customers greater than 10% of total 24.00%   24.20% 23.60% 24.20%
Customer A | Accounts Receivable | Customer Concentration Risk          
Concentration Risk          
Customers greater than 10% of total 28.50% 29.40%      
Customer B | Sales Revenue, Goods, Net | Customer Concentration Risk          
Concentration Risk          
Customers greater than 10% of total 39.60%   37.10% 37.80% 38.40%
Customer B | Accounts Receivable | Customer Concentration Risk          
Concentration Risk          
Customers greater than 10% of total 18.40% 27.70%      
Customer C | Sales Revenue, Goods, Net | Customer Concentration Risk          
Concentration Risk          
Customers greater than 10% of total 10.80%   11.50% 12.60% 12.20%
Customer C | Accounts Receivable | Customer Concentration Risk          
Concentration Risk          
Customers greater than 10% of total 21.80% 14.70%      
v3.3.1.900
Balance Sheet Components - Accounts receivable (Details) - USD ($)
$ in Thousands
Dec. 31, 2015
Jun. 30, 2015
Balance Sheet Related Disclosures [Abstract]    
Accounts receivable $ 42,489 $ 58,249
Less: Allowance for price adjustments (16,405) (19,438)
Less: Allowance for doubtful accounts (30) (30)
Accounts receivable, net $ 26,054 $ 38,781
v3.3.1.900
Balance Sheet Components - Inventories (Details) - USD ($)
$ in Thousands
Dec. 31, 2015
Jun. 30, 2015
Balance Sheet Related Disclosures [Abstract]    
Raw materials $ 18,917 $ 19,423
Work in-process 33,015 31,269
Finished goods 9,170 13,483
Inventory, net $ 61,102 $ 64,175
v3.3.1.900
Balance Sheet Components - Property, plant, and equipment (Details) - USD ($)
$ in Thousands
Dec. 31, 2015
Jun. 30, 2015
Property, Plant and Equipment [Line Items]    
Property, plant, and equipment excluding equipment and construction In progress, gross $ 259,916 $ 242,780
Less: Accumulated depreciation (155,416) (141,883)
Property, plant and equipment excluding equipment and construction in progress, net 104,500 100,897
Equipment and construction in progress 7,557 18,682
Property, plant and equipment, net 112,057 119,579
Land    
Property, Plant and Equipment [Line Items]    
Property, plant, and equipment excluding equipment and construction In progress, gross 4,877 4,877
Building    
Property, Plant and Equipment [Line Items]    
Property, plant, and equipment excluding equipment and construction In progress, gross 4,243 4,243
Manufacturing machinery and equipment    
Property, Plant and Equipment [Line Items]    
Property, plant, and equipment excluding equipment and construction In progress, gross 187,862 172,467
Equipment and tooling    
Property, Plant and Equipment [Line Items]    
Property, plant, and equipment excluding equipment and construction In progress, gross 12,125 11,261
Computer equipment and software    
Property, Plant and Equipment [Line Items]    
Property, plant, and equipment excluding equipment and construction In progress, gross 20,931 20,602
Office furniture and equipment    
Property, Plant and Equipment [Line Items]    
Property, plant, and equipment excluding equipment and construction In progress, gross 1,780 1,762
Leasehold improvements    
Property, Plant and Equipment [Line Items]    
Property, plant, and equipment excluding equipment and construction In progress, gross $ 28,098 $ 27,568
v3.3.1.900
Balance Sheet Components - Other long term assets (Details) - USD ($)
$ in Thousands
Dec. 31, 2015
Jun. 30, 2015
Balance Sheet Related Disclosures [Abstract]    
Prepayments for property and equipment $ 324 $ 692
Investment in a privately held company 100 100
Office leases deposits 1,814 1,215
Other Assets, Miscellaneous, Noncurrent 2 4
Other long-term assets $ 2,240 $ 2,011
v3.3.1.900
Balance Sheet Components - Accrued liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2015
Jun. 30, 2015
Dec. 31, 2014
Jun. 30, 2014
Balance Sheet Related Disclosures [Abstract]        
Accrued compensation and benefit $ 6,387 $ 5,600    
Accrued vacation 1,771 1,830    
Accrued bonuses 1,292 1,152    
Warranty accrual 1,596 1,957 $ 1,188 $ 1,346
Stock rotation accrual 1,872 1,894 $ 1,663 $ 1,645
Accrued professional fees 1,631 1,402    
ESPP payable 357 343    
Customer deposits 830 149    
Accrued inventory 268 697    
Accrued facilities related expenses 1,469 1,367    
Other accrued expenses 2,630 2,834    
Accrued liabilities $ 20,103 $ 19,225    
v3.3.1.900
Balance Sheet Components - Product Warranty Accrual (Details) - USD ($)
$ in Thousands
6 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]    
Beginning balance $ 1,957 $ 1,346
Additions 747 910
Utilization (1,108) (1,068)
Ending balance $ 1,596 $ 1,188
v3.3.1.900
Balance Sheet Components - Other Long Term Liability (Details) - USD ($)
$ in Thousands
Dec. 31, 2015
Jun. 30, 2015
Balance Sheet Related Disclosures [Abstract]    
Deferred rent $ 851 $ 953
Other long term liabilities $ 851 $ 953
v3.3.1.900
Balance Sheet Components - Stock Rotation Accrual (Details) - USD ($)
$ in Thousands
6 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Stock Rotation Accrual Increae (Decrease) [Roll Forward]    
Beginning balance $ 1,894 $ 1,645
Additions 3,120 2,820
Utilization (3,142) (2,802)
Ending balance $ 1,872 $ 1,663
v3.3.1.900
Shareholders' Equity and Share-based Compensation - Shares Repurchase (Details) - USD ($)
$ / shares in Units, $ in Millions
6 Months Ended 62 Months Ended
Jul. 07, 2015
Dec. 31, 2015
Dec. 31, 2015
Jul. 08, 2015
Jun. 30, 2015
Jun. 07, 2015
Apr. 30, 2015
Mar. 31, 2015
Class of Stock [Line Items]                
Shares Repurchase Program Remaining Balance       $ 18.2     $ 50.0 $ 17.8
Treasury stock acquired, shares repurchased (in shares)   4,491,375 5,518,969          
Treasury Stock, Value, Acquired, Cost Method   $ 40.0 $ 48.9          
Treasury stock acquired, average price per share (in dollars per share)   $ 8.90 $ 8.87          
Treasury stock, Acquired, Fees and related expenses   $ 0.3            
Treasury Stock, Shares, Retired     0          
Treasury Stock Reissued, Average Price Per Share     $ 1.98          
Treasury Stock Reissued                
Class of Stock [Line Items]                
Treasury stock acquired, average price per share (in dollars per share)     $ 13.85          
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures (in shares)     32,766          
Dutch Auction Tender Offer [Member] | Common Stock [Member]                
Class of Stock [Line Items]                
Share repurchase program, authorized amount (USD in Millions)           $ 30.0    
Treasury stock acquired, shares repurchased (in shares) 3,296,703              
Treasury Stock, Value, Acquired, Cost Method $ 30.0              
Treasury Stock, Shares, Acquired, Represent Percentage Of The Company's Common Shares Issued And Outstanding         12.53%      
Treasury stock acquired, average price per share (in dollars per share) $ 9.10              
Dutch Auction Tender Offer [Member] | Minimum [Member] | Common Stock [Member]                
Class of Stock [Line Items]                
Stock Repurchase Program, Authorized Cost Per Share           $ 8.50    
Dutch Auction Tender Offer [Member] | Maximum [Member] | Common Stock [Member]                
Class of Stock [Line Items]                
Stock Repurchase Program, Authorized Cost Per Share           $ 9.20    
v3.3.1.900
Shareholders' Equity and Share-based Compensation - Share-based Compensation (Details) - USD ($)
6 Months Ended
Dec. 31, 2015
Jun. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]    
Outstanding at June 30, 2015 (in shares) 2,836,217  
Granted (in shares) 0  
Exercised (in shares) (277,916)  
Canceled or forfeited (in shares) (304,012)  
Outstanding at September 30, 2015 (in shares) 2,254,289  
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]    
Outstanding at June 30, 2015 (in dollars per share) $ 10.77  
Granted (in dollars per share) 0  
Exercised (in dollars per share) 7.05  
Canceled or forfeited (in dollars per share) 12.45  
Outstanding at September 30, 2015 (in dollars per share) $ 11.01  
Options Outstanding Aggregate Intrinsic Value $ 1,226,993 $ 1,410,538
Options Exercised Aggregate Intrinsic Value $ 458,006  
Employee Share Purchase Plan [Member]    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Volatility Rate 32.20%  
Expected Term 1 year 3 months 18 days  
Expected Dividend Rate 0.00%  
Employee Share Purchase Plan [Member] | Minimum [Member]    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Risk Free Interest Rate 0.30%  
Employee Share Purchase Plan [Member] | Maximum [Member]    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Risk Free Interest Rate 0.90%  
Stock Options [Member]    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Volatility Rate 39.91%  
Expected Term 5 years 6 months  
Expected Dividend Rate 0.00%  
Stock Options [Member] | Minimum [Member]    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Risk Free Interest Rate 1.60%  
Stock Options [Member] | Maximum [Member]    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Risk Free Interest Rate 1.70%  
v3.3.1.900
Shareholders' Equity and Share-based Compensation - Stock Options Outstanding and Exercisable (Details) - $ / shares
6 Months Ended
Dec. 31, 2015
Jun. 30, 2015
Share-based Compensation [Abstract]    
Options, Number Outstanding (in shares) 2,254,289 2,836,217
Options, Weighted-Average Remaining Contractual Life (in years) 4 years 10 months 6 days  
Options, Weighted-Average Exercise Price (in dollars per share) $ 11.01 $ 10.77
Options, Number Exercisable (in shares) 1,890,474  
Options, Weighted-Average Exercise Price (in dollars per share) $ 11.62  
Options vested and expected to vest, Number Outstanding (in shares) 2,222,601  
Options vested and expected to vest, Weighted Average Remaining Contractual Life (in years) 4 years 9 months 18 days  
Options vested and expected to vest, Weighted Average Exercise Price (in dollars per share) $ 11.05  
v3.3.1.900
Shareholders' Equity and Share-based Compensation - Restricted Stock Activity (Details) - USD ($)
3 Months Ended 6 Months Ended
Dec. 31, 2015
Jun. 30, 2015
Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]      
Weighted Average Remaining Recognition Period (Years) 1 year 3 months 18 days    
Restricted Stock      
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]      
Nonvested at June 30, 2015     873,946
Granted     89,402
Vested     (87,676)
Forfeited     (79,143)
Nonvested at December 31, 2015 796,529 873,946 796,529
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]      
Nonvested at June 30, 2015     $ 8.64
Granted     8.41
Vested     9.35
Forfeited     8.74
Nonvested at December 31, 2015 $ 8.53 $ 8.64 $ 8.53
Weighted Average Remaining Recognition Period (Years) 1 year 5 months 12 days 1 year 9 months 7 days  
RSUs Nonvested Aggregate Intrinsic Value $ 7,320,102 $ 7,638,288 $ 7,320,102
RSUs vested and expected to vest, Outstanding (in shares) 701,811   701,811
RSUs vested and expected to vest, Weighted Average Remaining Recognition Period (in years) 1 year 4 months 6 days    
RSUs vested and expected to vest, Aggregate Intrinsic Value $ 6,449,648   $ 6,449,648
v3.3.1.900
Shareholders' Equity and Share-based Compensation - Share-based Compensation Expenses (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]        
Allocated share-based compensation expense $ 1,085 $ 1,277 $ 1,874 $ 2,379
Unrecognized compensation expense $ 4,200   4,200  
Recognition period of share-based compensation expense (in years) 1 year 3 months 18 days      
Cost of goods sold        
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]        
Allocated share-based compensation expense $ 157 174 288 328
Research and development        
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]        
Allocated share-based compensation expense 264 293 457 499
Selling, general and administrative        
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]        
Allocated share-based compensation expense $ 664 $ 810 $ 1,129 $ 1,552
v3.3.1.900
Income Taxes - Narrative (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Income Tax Disclosure [Abstract]        
Income tax expense $ 1,015 $ 957 $ 2,229 $ 2,128
Estimated effective income tax rate (170.30%) (281.50%) (164.30%) 152.50%
Unrecognized tax benefits $ 6,600   $ 6,600  
Unrecognized tax benefit that would impact effective tax rate $ 4,400   $ 4,400  
v3.3.1.900
Segment and Geographic Information - Revenue by Location and Product Type (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Revenues from External Customers and Long-Lived Assets [Line Items]        
Revenue $ 79,825 $ 81,328 $ 161,264 $ 169,545
Power discrete        
Revenues from External Customers and Long-Lived Assets [Line Items]        
Revenue 59,392 61,203 119,305 126,094
Power IC        
Revenues from External Customers and Long-Lived Assets [Line Items]        
Revenue 16,400 16,109 33,913 35,265
Packaging and testing services        
Revenues from External Customers and Long-Lived Assets [Line Items]        
Revenue 4,033 4,016 8,046 8,186
Hong Kong        
Revenues from External Customers and Long-Lived Assets [Line Items]        
Revenue 69,904 70,278 140,357 145,525
China        
Revenues from External Customers and Long-Lived Assets [Line Items]        
Revenue 7,922 8,823 16,938 19,780
South Korea        
Revenues from External Customers and Long-Lived Assets [Line Items]        
Revenue 442 524 1,100 1,163
United States        
Revenues from External Customers and Long-Lived Assets [Line Items]        
Revenue 784 881 1,501 1,564
Other Countries        
Revenues from External Customers and Long-Lived Assets [Line Items]        
Revenue $ 773 $ 822 $ 1,368 $ 1,513
v3.3.1.900
Segment and Geographic Information - Long-lived Assets (Details) - USD ($)
$ in Thousands
Dec. 31, 2015
Jun. 30, 2015
Revenues from External Customers and Long-Lived Assets [Line Items]    
Property, plant and equipment, net $ 112,057 $ 119,579
China    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Property, plant and equipment, net 66,907 71,618
United States    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Property, plant and equipment, net 44,572 47,439
Other Countries    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Property, plant and equipment, net $ 578 $ 522
v3.3.1.900
Segment and Geographic Information - Narratives (Details)
6 Months Ended
Dec. 31, 2015
Segment
Segment Reporting [Abstract]  
Number of operating segments 1
Number of reportable segments 1
v3.3.1.900
Commitments and Contingencies - Purchase Commitments (Details) - USD ($)
$ in Millions
Dec. 31, 2015
Jun. 30, 2015
Raw materials, wafers, and packaging and testing services puchase commitments    
Purchase Commitment, Excluding Long-term Committment [Line Items]    
Purchase commitment, amount $ 39.0 $ 29.2
Property and equipment purchase commitments    
Purchase Commitment, Excluding Long-term Committment [Line Items]    
Purchase commitment, amount $ 5.2 $ 3.7
v3.3.1.900
Commitments and Contingencies - Guarantees (Details) - USD ($)
Dec. 31, 2015
Jun. 30, 2015
Indemnification Agreement    
Loss Contingencies [Line Items]    
Indemnifications accrual $ 0 $ 0