Wall Street brokerages expect Synaptics, Incorporated (NASDAQ:SYNA) to report sales of $308.86 million for the current quarter, Zacks reports. Four analysts have provided estimates for Synaptics’ earnings. The lowest sales estimate is $305.80 million and the highest is $310.10 million. Synaptics posted sales of $388.50 million during the same quarter last year, which would indicate a negative year over year growth rate of 20.5%. The business is scheduled to issue its next earnings report on Thursday, August 8th.
On average, analysts expect that Synaptics will report full year sales of $1.49 billion for the current fiscal year, with estimates ranging from $1.48 billion to $1.49 billion. For the next financial year, analysts anticipate that the business will report sales of $1.43 billion, with estimates ranging from $1.33 billion to $1.51 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Synaptics.
Synaptics (NASDAQ:SYNA) last posted its earnings results on Thursday, May 9th. The software maker reported $0.83 EPS for the quarter, topping the consensus estimate of $0.31 by $0.52. Synaptics had a net margin of 1.39% and a return on equity of 15.21%. The firm had revenue of $334.00 million during the quarter, compared to analysts’ expectations of $345.30 million. During the same quarter in the prior year, the firm earned $0.92 EPS. Synaptics’s quarterly revenue was down 15.2% on a year-over-year basis.
Several research analysts have commented on SYNA shares. BidaskClub upgraded shares of Synaptics from a “hold” rating to a “buy” rating in a research report on Wednesday, March 13th. JPMorgan Chase & Co. reduced their price target on shares of Synaptics from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Monday, March 18th. Zacks Investment Research lowered shares of Synaptics from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 22nd. ValuEngine lowered shares of Synaptics from a “sell” rating to a “strong sell” rating in a research note on Tuesday, March 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price target (down from $60.00) on shares of Synaptics in a research note on Tuesday, March 19th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $42.44.
NASDAQ SYNA opened at $30.01 on Thursday. Synaptics has a 52 week low of $26.34 and a 52 week high of $52.16. The company has a current ratio of 3.19, a quick ratio of 2.56 and a debt-to-equity ratio of 0.64. The company has a market cap of $1.04 billion, a PE ratio of 15.16 and a beta of 1.07. The stock has a 50-day moving average price of $28.40.
In related news, SVP John Mcfarland sold 2,829 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $33.76, for a total transaction of $95,507.04. Following the completion of the sale, the senior vice president now directly owns 21,871 shares of the company’s stock, valued at $738,364.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.70% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in SYNA. NumerixS Investment Technologies Inc acquired a new stake in Synaptics during the fourth quarter valued at approximately $38,000. Penserra Capital Management LLC lifted its stake in Synaptics by 50.0% during the first quarter. Penserra Capital Management LLC now owns 1,185 shares of the software maker’s stock valued at $47,000 after purchasing an additional 395 shares during the last quarter. Neuburgh Advisers LLC lifted its stake in Synaptics by 11.8% during the fourth quarter. Neuburgh Advisers LLC now owns 3,344 shares of the software maker’s stock valued at $124,000 after purchasing an additional 352 shares during the last quarter. Truvestments Capital LLC acquired a new stake in Synaptics during the first quarter valued at approximately $136,000. Finally, Palouse Capital Management Inc. acquired a new stake in Synaptics during the first quarter valued at approximately $224,000. 96.54% of the stock is owned by institutional investors and hedge funds.
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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