Synaptics (NASDAQ:SYNA) Announces Quarterly Earnings Results

Synaptics (NASDAQ:SYNA) posted its quarterly earnings data on Thursday. The software maker reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.01, FiscalAI reports. Synaptics had a negative net margin of 41.00% and a positive return on equity of 4.37%. The company had revenue of $294.00 million for the quarter, compared to analyst estimates of $315.56 million. During the same quarter last year, the firm posted $1.09 earnings per share. The business’s quarterly revenue was up .5% on a year-over-year basis.

Synaptics Price Performance

NASDAQ SYNA traded up $0.33 on Friday, reaching $116.73. 912,066 shares of the stock traded hands, compared to its average volume of 917,842. Synaptics has a 12 month low of $58.28 and a 12 month high of $149.11. The company has a market cap of $4.63 billion, a price-to-earnings ratio of -9.23 and a beta of 1.94. The firm’s fifty day simple moving average is $107.60 and its 200 day simple moving average is $103.25. The company has a quick ratio of 0.90, a current ratio of 1.12 and a debt-to-equity ratio of 0.43.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SYNA. Craig Hallum set a $105.00 target price on Synaptics in a report on Friday, August 7th. Weiss Ratings downgraded Synaptics from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Susquehanna dropped their price target on Synaptics from $140.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 21st. Rosenblatt Securities raised their price objective on Synaptics from $115.00 to $123.00 and gave the stock a “neutral” rating in a research note on Friday, October 2nd. Finally, Wells Fargo & Company downgraded shares of Synaptics from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $140.00 to $123.00 in a report on Friday, October 2nd. Two research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $123.09.

Insiders Place Their Bets

In related news, insider Vikram Gupta sold 4,277 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $94.49, for a total transaction of $404,133.73. Following the completion of the sale, the insider directly owned 99,191 shares in the company, valued at approximately $9,372,557.59. This trade represents a 4.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Esther Song sold 437 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $103.68, for a total value of $45,308.16. Following the sale, the insider directly owned 14,683 shares of the company’s stock, valued at approximately $1,522,333.44. This represents a 2.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 15,591 shares of company stock worth $1,571,750. 0.70% of the stock is owned by corporate insiders.

About Synaptics

Synaptics Incorporated (NASDAQ: SYNA) is a fabless semiconductor company that develops technologies for human-machine interaction, connectivity and edge computing. Its solutions are designed to help people interact with electronic devices and enable connected products to process data closer to where it is generated.

The company’s product portfolio includes touch and gesture controllers, touchpads, touchscreen and display technologies, fingerprint sensors, wireless connectivity solutions, video and audio products, and system-on-chip platforms.