Synaptics (NASDAQ:SYNA) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

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

Synaptics Price Performance

Shares of NASDAQ:SYNA traded up $0.30 during trading on Friday, hitting $116.70. 1,752,800 shares of the company were exchanged, compared to its average volume of 1,073,780. The business’s 50 day moving average is $107.98 and its 200-day moving average is $103.40. The company has a market capitalization of $4.63 billion, a P/E ratio of -9.28 and a beta of 1.94. The company has a quick ratio of 0.90, a current ratio of 1.12 and a debt-to-equity ratio of 0.43. Synaptics has a 1-year low of $58.28 and a 1-year high of $149.11.

Insider Activity

In related news, insider Lisa Bodensteiner sold 6,056 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $103.62, for a total transaction of $627,522.72. Following the sale, the insider owned 78,634 shares of the company’s stock, valued at $8,148,055.08. This trade represents a 7.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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. Also, insider Vikram Gupta sold 4,277 shares of the business’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $103.65, for a total value of $443,311.05. Following the sale, the insider owned 103,468 shares in the company, valued at $10,724,458.20. This represents a 3.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last ninety days, insiders sold 15,591 shares of company stock worth $1,571,750. Insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

SYNA has been the topic of a number of recent analyst reports. Susquehanna decreased 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. Craig Hallum set a $105.00 price objective on shares of Synaptics in a research report on Friday, August 7th. Wells Fargo & Company downgraded Synaptics from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $140.00 to $123.00 in a report on Friday, October 2nd. Zacks Research lowered Synaptics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 9th. Finally, Rosenblatt Securities lifted their price target on Synaptics from $115.00 to $123.00 and gave the company a “neutral” rating in a research note on Friday, October 2nd. Two equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $126.40.

Synaptics Company Profile

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.