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

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

Synaptics Trading Down 0.9%

Shares of NASDAQ:SYNA traded down $1.09 during midday trading on Thursday, reaching $116.40. The company’s stock had a trading volume of 2,644,211 shares, compared to its average volume of 1,062,255. The firm has a market cap of $4.62 billion, a price-to-earnings ratio of 93.25 and a beta of 1.94. The business has a 50 day moving average price of $107.60 and a 200 day moving average price of $103.25. Synaptics has a 1 year low of $58.28 and a 1 year high of $149.11. The company has a quick ratio of 0.90, a current ratio of 1.12 and a debt-to-equity ratio of 0.43.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, insider Lisa Bodensteiner sold 6,056 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $103.62, for a total value of $627,522.72. Following the completion of the sale, the insider directly owned 78,634 shares in the company, valued at approximately $8,148,055.08. The trade was a 7.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 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 completion of the sale, the insider owned 14,683 shares of the company’s stock, valued at approximately $1,522,333.44. The trade was a 2.89% 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. Over the last ninety days, insiders have sold 15,591 shares of company stock worth $1,571,750. 0.70% of the stock is owned by company insiders.

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.