Brokerages Expect Synaptics, Incorporated (NASDAQ:SYNA) Will Announce Quarterly Sales of $354.44 Million

Brokerages expect Synaptics, Incorporated (NASDAQ:SYNA) to report $354.44 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for Synaptics’ earnings, with the lowest sales estimate coming in at $352.40 million and the highest estimate coming in at $357.13 million. Synaptics reported sales of $425.50 million during the same quarter last year, which would suggest a negative year over year growth rate of 16.7%. The business is scheduled to issue its next quarterly earnings report on Thursday, February 6th.

On average, analysts expect that Synaptics will report full year sales of $1.30 billion for the current fiscal year, with estimates ranging from $1.28 billion to $1.31 billion. For the next financial year, analysts anticipate that the business will post sales of $1.24 billion, with estimates ranging from $1.21 billion to $1.28 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Synaptics.

Synaptics (NASDAQ:SYNA) last issued its quarterly earnings results on Thursday, November 7th. The software maker reported $1.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.49. Synaptics had a positive return on equity of 13.40% and a negative net margin of 1.63%. The company had revenue of $339.90 million for the quarter, compared to the consensus estimate of $314.44 million. During the same quarter in the prior year, the business earned $1.24 EPS. Synaptics’s revenue was down 18.6% on a year-over-year basis.

Several equities research analysts have weighed in on the company. Rosenblatt Securities restated a “hold” rating and set a $45.00 price target on shares of Synaptics in a report on Monday, December 9th. BMO Capital Markets upped their price target on Synaptics to $50.00 in a report on Friday, November 8th. Mizuho upped their price target on Synaptics from $35.00 to $46.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Zacks Investment Research upgraded Synaptics from a “hold” rating to a “strong-buy” rating and set a $67.00 price target on the stock in a report on Wednesday, November 13th. Finally, Craig Hallum upped their price target on Synaptics from $28.00 to $40.00 and gave the stock a “hold” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $48.13.

NASDAQ SYNA traded up $4.66 during trading hours on Wednesday, hitting $64.00. 2,845,227 shares of the company were exchanged, compared to its average volume of 484,597. The company has a 50 day moving average of $54.19 and a two-hundred day moving average of $38.58. The company has a quick ratio of 2.42, a current ratio of 2.98 and a debt-to-equity ratio of 0.72. Synaptics has a 52-week low of $26.34 and a 52-week high of $65.49. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of 25.60 and a beta of 1.15.

In other news, insider Kermit Nolan sold 2,000 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $62.00, for a total value of $124,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP John Mcfarland sold 2,926 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $41.00, for a total value of $119,966.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,593 shares of company stock worth $2,224,126. Company insiders own 1.70% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. TRUE Private Wealth Advisors acquired a new stake in shares of Synaptics in the 2nd quarter valued at about $56,000. US Bancorp DE boosted its position in shares of Synaptics by 80.1% in the 2nd quarter. US Bancorp DE now owns 2,156 shares of the software maker’s stock valued at $62,000 after purchasing an additional 959 shares during the period. Bank of Montreal Can boosted its position in shares of Synaptics by 188.6% in the 2nd quarter. Bank of Montreal Can now owns 3,495 shares of the software maker’s stock valued at $102,000 after purchasing an additional 2,284 shares during the period. Quantamental Technologies LLC acquired a new stake in shares of Synaptics in the 2nd quarter valued at about $113,000. Finally, Neuburgh Advisers LLC boosted its position in shares of Synaptics by 34.4% in the 2nd quarter. Neuburgh Advisers LLC now owns 4,496 shares of the software maker’s stock valued at $131,000 after purchasing an additional 1,152 shares during the period. Institutional investors and hedge funds own 96.03% 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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Earnings History and Estimates for Synaptics (NASDAQ:SYNA)

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