Synaptics (NASDAQ:SYNA) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Synaptics (NASDAQ:SYNA) posted its quarterly earnings results on Thursday. The software maker reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.01, FiscalAI reports. The firm had revenue of $294.00 million for the quarter, compared to analysts’ expectations of $315.56 million. Synaptics had a negative net margin of 41.00% and a positive return on equity of 4.37%.

Synaptics Price Performance

NASDAQ:SYNA traded down $1.09 during mid-day trading on Thursday, reaching $116.40. 2,644,211 shares of the stock were exchanged, compared to its average volume of 918,349. The business has a fifty day moving average price of $107.18 and a 200 day moving average price of $103.12. The firm has a market capitalization of $4.62 billion, a PE ratio of -9.20 and a beta of 1.94. Synaptics has a 1-year low of $58.28 and a 1-year high of $149.11. The company has a current ratio of 1.12, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43.

Wall Street Analyst Weigh In

SYNA has been the topic of a number of research reports. Wells Fargo & Company cut shares of Synaptics from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $140.00 to $123.00 in a report on Friday, October 2nd. Rosenblatt Securities lifted their price target on shares of Synaptics from $115.00 to $123.00 and gave the company a “neutral” rating in a report on Friday, October 2nd. Susquehanna lowered their price objective on shares of Synaptics from $140.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, July 21st. Zacks Research cut Synaptics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 9th. Finally, Craig Hallum set a $105.00 target price on Synaptics in a research report on Friday, August 7th. Two equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $123.09.

Insider Activity

In other news, insider Esther Song sold 437 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $103.68, for a total transaction of $45,308.16. Following the sale, the insider owned 14,683 shares in the company, valued at $1,522,333.44. The trade was a 2.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 Lisa Bodensteiner sold 334 shares of the company’s stock in a transaction on Friday, September 18th. The shares were sold at an average price of $92.63, for a total value of $30,938.42. Following the transaction, the insider directly owned 77,518 shares in the company, valued at $7,180,492.34. The trade was a 0.43% decrease in their ownership of the stock. 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 90 days, insiders sold 15,591 shares of company stock worth $1,571,750. Insiders own 0.70% of the company’s stock.

About Synaptics

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.