Equities analysts expect Synaptics, Incorporated (NASDAQ:SYNA) to post sales of $308.86 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Synaptics’ earnings. The lowest sales estimate is $305.80 million and the highest is $310.10 million. Synaptics posted sales of $388.50 million during the same quarter last year, which suggests a negative year over year growth rate of 20.5%. The firm is expected to report its next earnings results on Thursday, August 8th.
According to Zacks, analysts expect that Synaptics will report full-year sales of $1.49 billion for the current year, with estimates ranging from $1.48 billion to $1.49 billion. For the next fiscal year, analysts forecast that the firm will post sales of $1.43 billion, with estimates ranging from $1.33 billion to $1.51 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Synaptics.
Synaptics (NASDAQ:SYNA) last posted its earnings results on Thursday, May 9th. The software maker reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.52. Synaptics had a return on equity of 15.21% and a net margin of 1.39%. The firm had revenue of $334.00 million during the quarter, compared to analysts’ expectations of $345.30 million. During the same period in the previous year, the firm earned $0.92 earnings per share. The company’s revenue was down 15.2% on a year-over-year basis.
A number of research firms have issued reports on SYNA. Needham & Company LLC reissued a “buy” rating and issued a $42.00 target price (down from $45.00) on shares of Synaptics in a research note on Friday, May 10th. Mizuho decreased their target price on Synaptics from $39.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, May 10th. BidaskClub cut Synaptics from a “sell” rating to a “strong sell” rating in a research note on Tuesday. Craig Hallum reissued a “buy” rating and issued a $47.00 target price (down from $48.00) on shares of Synaptics in a research note on Monday, April 8th. Finally, BMO Capital Markets decreased their target price on Synaptics to $29.00 and set a “market perform” rating for the company in a research note on Friday, May 10th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. Synaptics has an average rating of “Hold” and an average price target of $44.40.
NASDAQ:SYNA traded down $0.45 on Friday, reaching $27.61. The company’s stock had a trading volume of 4,901 shares, compared to its average volume of 712,282. Synaptics has a 1-year low of $27.43 and a 1-year high of $55.25. The company has a current ratio of 3.19, a quick ratio of 2.56 and a debt-to-equity ratio of 0.64. The stock has a market cap of $964.56 million, a price-to-earnings ratio of 14.18 and a beta of 0.86.
In other news, SVP John Mcfarland sold 2,829 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $33.76, for a total transaction of $95,507.04. Following the completion of the transaction, the senior vice president now directly owns 21,871 shares of the company’s stock, valued at $738,364.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.70% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SYNA. Norges Bank bought a new stake in Synaptics during the fourth quarter worth about $17,801,000. State of New Jersey Common Pension Fund D raised its holdings in Synaptics by 190.5% during the first quarter. State of New Jersey Common Pension Fund D now owns 610,000 shares of the software maker’s stock worth $24,248,000 after acquiring an additional 400,000 shares in the last quarter. Fisher Asset Management LLC raised its stake in Synaptics by 36.4% in the fourth quarter. Fisher Asset Management LLC now owns 1,283,764 shares of the software maker’s stock valued at $47,769,000 after buying an additional 342,909 shares during the period. Vanguard Group Inc. raised its stake in Synaptics by 9.2% in the third quarter. Vanguard Group Inc. now owns 3,511,485 shares of the software maker’s stock valued at $160,194,000 after buying an additional 295,956 shares during the period. Finally, Victory Capital Management Inc. bought a new stake in Synaptics in the first quarter valued at approximately $9,559,000. Institutional investors and hedge funds own 98.09% of the company’s stock.
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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