Analysts forecast that Synaptics, Incorporated (NASDAQ:SYNA) will report $314.11 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for Synaptics’ earnings. The highest sales estimate is $317.80 million and the lowest is $309.60 million. Synaptics reported sales of $417.60 million during the same quarter last year, which indicates a negative year over year growth rate of 24.8%. The business is scheduled to issue its next quarterly earnings results on Thursday, November 14th.
On average, analysts expect that Synaptics will report full year sales of $1.26 billion for the current year, with estimates ranging from $1.25 billion to $1.30 billion. For the next year, analysts expect that the business will post sales of $1.23 billion, with estimates ranging from $1.18 billion to $1.31 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Synaptics.
Synaptics (NASDAQ:SYNA) last released its quarterly earnings results on Thursday, August 8th. The software maker reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.47. The business had revenue of $295.10 million during the quarter, compared to the consensus estimate of $307.27 million. Synaptics had a positive return on equity of 12.74% and a negative net margin of 1.56%. The company’s quarterly revenue was down 24.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.00 EPS.
A number of brokerages have recently weighed in on SYNA. JPMorgan Chase & Co. downgraded Synaptics from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $35.00 to $25.00 in a research note on Friday, August 9th. Needham & Company LLC restated a “buy” rating and issued a $42.00 target price on shares of Synaptics in a research note on Sunday, August 11th. ValuEngine upgraded Synaptics from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. Mizuho restated a “hold” rating and issued a $35.00 target price on shares of Synaptics in a research note on Sunday, August 11th. Finally, BMO Capital Markets boosted their target price on Synaptics from $29.00 to $33.00 and gave the stock a “market perform” rating in a research note on Friday, August 9th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $35.33.
Shares of NASDAQ SYNA traded up $0.49 during midday trading on Friday, reaching $34.78. The company’s stock had a trading volume of 147,461 shares, compared to its average volume of 720,497. Synaptics has a 12-month low of $26.34 and a 12-month high of $48.74. The firm has a 50 day moving average price of $31.83 and a 200-day moving average price of $34.62. The stock has a market capitalization of $1.18 billion, a P/E ratio of 13.91 and a beta of 1.02. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.88 and a quick ratio of 2.25.
In related news, Director Nelson C. Chan sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $33.25, for a total value of $199,500.00. Following the transaction, the director now owns 39,449 shares in the company, valued at $1,311,679.25. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.70% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its holdings in Synaptics by 8.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,741,214 shares of the software maker’s stock worth $64,791,000 after acquiring an additional 142,207 shares during the period. Bank of America Corp DE grew its holdings in Synaptics by 26.6% during the fourth quarter. Bank of America Corp DE now owns 124,989 shares of the software maker’s stock worth $4,652,000 after acquiring an additional 26,259 shares during the period. Legal & General Group Plc grew its holdings in Synaptics by 15.5% during the fourth quarter. Legal & General Group Plc now owns 38,330 shares of the software maker’s stock worth $1,426,000 after acquiring an additional 5,132 shares during the period. Norges Bank acquired a new position in Synaptics during the fourth quarter worth about $17,801,000. Finally, Geode Capital Management LLC grew its holdings in Synaptics by 30.4% during the fourth quarter. Geode Capital Management LLC now owns 538,257 shares of the software maker’s stock worth $20,028,000 after acquiring an additional 125,449 shares during the period. Institutional investors and hedge funds own 95.66% of the company’s stock.
Synaptics Company Profile
Synaptics Incorporated develops, markets, and sells intuitive human interface solutions for electronic devices and products worldwide. The company offers its products and solutions for smartphones, tablets, and touchscreen applications, as well as mobile, handheld, wireless, and entertainment devices; notebook applications; and other personal computer (PC) product applications.
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