Synaptics (SYNA) to Release Earnings on Thursday

Synaptics (NASDAQ:SYNA) is scheduled to be posting its quarterly earnings results after the market closes on Thursday, November 9th. Analysts expect Synaptics to post earnings of $0.38 per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Synaptics (NASDAQ:SYNA) last posted its earnings results on Thursday, August 3rd. The software maker reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.21) by $0.22. Synaptics had a net margin of 5.43% and a return on equity of 17.11%. The firm had revenue of $227.30 million for the quarter, compared to the consensus estimate of $224.34 million. During the same period in the prior year, the business posted $3.21 earnings per share. The business’s quarterly revenue was down 52.3% on a year-over-year basis. On average, analysts expect Synaptics to post $1 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Synaptics Price Performance

Shares of NASDAQ:SYNA opened at $80.28 on Thursday. The stock has a market capitalization of $3.10 billion, a P/E ratio of 44.35 and a beta of 1.52. The business has a 50-day moving average of $87.56 and a two-hundred day moving average of $86.84. Synaptics has a fifty-two week low of $67.73 and a fifty-two week high of $142.14. The company has a debt-to-equity ratio of 0.78, a current ratio of 4.89 and a quick ratio of 4.36.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SYNA shares. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of Synaptics in a research report on Friday, September 8th. Susquehanna decreased their price objective on shares of Synaptics from $115.00 to $100.00 and set a “positive” rating for the company in a report on Friday, August 4th. StockNews.com started coverage on shares of Synaptics in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Rosenblatt Securities reissued a “buy” rating and set a $100.00 target price on shares of Synaptics in a research report on Wednesday, September 6th. Finally, KeyCorp raised their price target on Synaptics from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, October 3rd. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $113.64.

Insider Transactions at Synaptics

In other Synaptics news, insider Saleel Awsare sold 7,669 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $91.16, for a total value of $699,106.04. Following the completion of the transaction, the insider now owns 26,362 shares of the company’s stock, valued at approximately $2,403,159.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Synaptics news, insider Saleel Awsare sold 7,669 shares of Synaptics stock in a transaction on Monday, August 14th. The shares were sold at an average price of $91.16, for a total transaction of $699,106.04. Following the sale, the insider now owns 26,362 shares in the company, valued at $2,403,159.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Mcfarland sold 5,469 shares of the stock in a transaction on Monday, August 21st. The shares were sold at an average price of $87.98, for a total transaction of $481,162.62. Following the completion of the transaction, the insider now owns 16,290 shares of the company’s stock, valued at approximately $1,433,194.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,084 shares of company stock worth $1,708,067. 1.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SYNA. Brown Brothers Harriman & Co. acquired a new stake in Synaptics in the 1st quarter valued at $49,000. Belpointe Asset Management LLC boosted its stake in shares of Synaptics by 112.9% in the 1st quarter. Belpointe Asset Management LLC now owns 364 shares of the software maker’s stock valued at $40,000 after purchasing an additional 193 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of Synaptics in the 4th quarter worth about $76,000. State of Wyoming grew its holdings in shares of Synaptics by 27.2% in the 4th quarter. State of Wyoming now owns 1,033 shares of the software maker’s stock worth $98,000 after purchasing an additional 221 shares during the last quarter. Finally, Point72 Hong Kong Ltd increased its position in shares of Synaptics by 12.2% during the 1st quarter. Point72 Hong Kong Ltd now owns 1,241 shares of the software maker’s stock worth $248,000 after purchasing an additional 135 shares in the last quarter. Institutional investors own 91.51% of the company’s stock.

About Synaptics

Synaptics Incorporated develops, markets, and sells semiconductor products worldwide. The company offers AudioSmart for voice and audio processing; ConnectSmart for high-speed video/audio/data connectivity; DisplayLink for transmitting compressed video frames across low bandwidth connections; VideoSmart that enables set-top boxes, over-the-top, streaming devices, soundbars, surveillance cameras, and smart displays; and ImagingSmart solutions.