Synaptics Incorporated (NASDAQ:SYNA) Expected to Announce Quarterly Sales of $475.00 Million

Equities analysts expect Synaptics Incorporated (NASDAQ:SYNAGet Rating) to post $475.00 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Synaptics’ earnings. The highest sales estimate is $476.00 million and the lowest is $474.00 million. Synaptics reported sales of $327.80 million during the same quarter last year, which indicates a positive year over year growth rate of 44.9%. The firm is expected to report its next earnings report on Monday, January 1st.

On average, analysts expect that Synaptics will report full-year sales of $1.74 billion for the current financial year. For the next year, analysts anticipate that the company will post sales of $1.93 billion, with estimates ranging from $1.93 billion to $1.94 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Synaptics.

Synaptics (NASDAQ:SYNAGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The software maker reported $3.75 earnings per share for the quarter, beating analysts’ consensus estimates of $3.55 by $0.20. Synaptics had a return on equity of 34.97% and a net margin of 12.17%. The business had revenue of $470.10 million during the quarter, compared to the consensus estimate of $464.65 million. During the same period in the previous year, the business earned $1.39 EPS. The business’s quarterly revenue was up 44.3% on a year-over-year basis.

A number of brokerages have recently weighed in on SYNA. Cowen lowered their price target on Synaptics from $310.00 to $210.00 in a report on Monday, May 2nd. TheStreet downgraded Synaptics from a “b” rating to a “c+” rating in a research note on Monday, February 7th. KeyCorp lowered their price objective on Synaptics from $310.00 to $250.00 and set an “overweight” rating for the company in a research note on Tuesday, April 12th. Mizuho lowered their price objective on Synaptics from $250.00 to $225.00 in a research note on Friday, May 6th. Finally, Summit Insights downgraded Synaptics from a “buy” rating to a “hold” rating in a research note on Friday, May 6th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Synaptics currently has a consensus rating of “Buy” and a consensus price target of $243.85.

Shares of NASDAQ SYNA traded up $7.28 during trading on Monday, reaching $145.21. The stock had a trading volume of 649,024 shares, compared to its average volume of 655,463. Synaptics has a one year low of $117.00 and a one year high of $299.39. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.80 and a current ratio of 3.17. The stock has a market cap of $5.75 billion, a PE ratio of 30.44 and a beta of 1.34. The firm’s 50 day moving average price is $181.20 and its two-hundred day moving average price is $222.49.

In other news, Director Kiva A. Allgood sold 196 shares of the company’s stock in a transaction on Monday, May 9th. The stock was sold at an average price of $155.61, for a total value of $30,499.56. Following the completion of the sale, the director now owns 6,654 shares in the company, valued at $1,035,428.94. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Dean Warren Butler sold 1,126 shares of the company’s stock in a transaction on Monday, May 9th. The shares were sold at an average price of $155.61, for a total value of $175,216.86. Following the completion of the sale, the insider now owns 26,651 shares of the company’s stock, valued at approximately $4,147,162.11. The disclosure for this sale can be found here. Insiders own 0.80% of the company’s stock.

Several institutional investors have recently made changes to their positions in SYNA. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Synaptics during the fourth quarter worth $39,000. Sageworth Trust Co of South Dakota acquired a new stake in shares of Synaptics during the fourth quarter worth $43,000. Mascoma Wealth Management LLC acquired a new stake in shares of Synaptics during the first quarter worth $48,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Synaptics during the first quarter worth $49,000. Finally, San Luis Wealth Advisors LLC acquired a new stake in shares of Synaptics during the first quarter worth $56,000. Institutional investors and hedge funds own 91.93% of the company’s stock.

About Synaptics (Get Rating)

Synaptics Incorporated develops and supplies semiconductor products and solutions 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 or over-the-top, streaming devices, soundbars, surveillance cameras, and smart displays; and ImagingSmart solutions.

Recommended Stories

Get a free copy of the Zacks research report on Synaptics (SYNA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Synaptics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synaptics and related companies with MarketBeat.com's FREE daily email newsletter.