  Consider a pair of elements $f$ and $g$ in a commutative ring $Q$. Given a
matrix factorization of $f$ and another of $g$, the tensor product of matrix
factorizations, which was first introduced by Kn\"orrer and later generalized
by Yoshino, produces a matrix factorization of the sum $f+g$. We will study the
tensor product of $d$-fold matrix factorizations, with a particular emphasis on
understanding when the construction has a non-trivial direct sum decomposition.
As an application of our results, we construct indecomposable maximal
Cohen-Macaulay and Ulrich modules over hypersurface domains of a certain form.
