$401.42 Million in Sales Expected for Synaptics (SYNA) This Quarter

Equities research analysts predict that Synaptics (NASDAQ:SYNA) will report $401.42 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Synaptics’ earnings, with the highest sales estimate coming in at $402.70 million and the lowest estimate coming in at $400.00 million. Synaptics reported sales of $444.20 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 9.6%. The business is expected to issue its next earnings results on Thursday, April 26th.

According to Zacks, analysts expect that Synaptics will report full year sales of $401.42 million for the current year, with estimates ranging from $1.67 billion to $1.69 billion. For the next fiscal year, analysts forecast that the business will post sales of $1.77 billion per share, with estimates ranging from $1.74 billion to $1.82 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Synaptics.

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Synaptics (NASDAQ:SYNA) last announced its quarterly earnings data on Wednesday, February 7th. The software maker reported $1.11 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.03. Synaptics had a positive return on equity of 13.70% and a negative net margin of 5.04%. The business had revenue of $430.40 million during the quarter, compared to analyst estimates of $430.59 million. During the same period in the prior year, the company earned $1.49 earnings per share. Synaptics’s revenue was down 6.7% compared to the same quarter last year.

Several brokerages have weighed in on SYNA. Craig Hallum reissued a “buy” rating and set a $49.00 price objective (up from $43.00) on shares of Synaptics in a report on Thursday, February 8th. Stifel Nicolaus reduced their price objective on Synaptics from $59.00 to $57.00 and set a “buy” rating for the company in a report on Thursday, February 8th. ValuEngine lowered Synaptics from a “buy” rating to a “hold” rating in a report on Saturday, January 13th. Needham & Company LLC reissued a “buy” rating and set a $55.00 price objective on shares of Synaptics in a report on Wednesday, December 13th. Finally, Oppenheimer raised Synaptics from an “underperform” rating to a “market perform” rating in a report on Friday, December 8th. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $46.75.

In other news, CEO Rick Bergman sold 2,000 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $45.58, for a total value of $91,160.00. Following the completion of the transaction, the chief executive officer now directly owns 128,523 shares of the company’s stock, valued at $5,858,078.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Nelson C. Chan sold 3,000 shares of the firm’s stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $45.17, for a total value of $135,510.00. Following the completion of the transaction, the director now directly owns 25,231 shares of the company’s stock, valued at $1,139,684.27. The disclosure for this sale can be found here. Insiders sold 26,258 shares of company stock valued at $1,283,444 over the last ninety days. Corporate insiders own 3.70% of the company’s stock.

Several institutional investors have recently bought and sold shares of SYNA. State of Tennessee Treasury Department raised its position in shares of Synaptics by 7.6% in the fourth quarter. State of Tennessee Treasury Department now owns 1,325,800 shares of the software maker’s stock worth $52,952,000 after buying an additional 93,800 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Synaptics by 11.6% in the third quarter. Dimensional Fund Advisors LP now owns 1,214,796 shares of the software maker’s stock worth $47,596,000 after buying an additional 125,826 shares in the last quarter. Disciplined Growth Investors Inc. MN raised its position in shares of Synaptics by 1.4% in the fourth quarter. Disciplined Growth Investors Inc. MN now owns 1,014,352 shares of the software maker’s stock worth $40,513,000 after buying an additional 14,010 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Synaptics by 25.1% in the fourth quarter. Bank of New York Mellon Corp now owns 557,076 shares of the software maker’s stock worth $22,250,000 after buying an additional 111,653 shares in the last quarter. Finally, Two Sigma Advisers LP raised its position in shares of Synaptics by 183.4% in the fourth quarter. Two Sigma Advisers LP now owns 543,920 shares of the software maker’s stock worth $21,724,000 after buying an additional 352,000 shares in the last quarter. 99.97% of the stock is owned by hedge funds and other institutional investors.

NASDAQ SYNA traded down $1.66 on Friday, hitting $42.95. 394,778 shares of the stock traded hands, compared to its average volume of 755,383. Synaptics has a 12 month low of $33.73 and a 12 month high of $64.54. The firm has a market cap of $1,561.76, a price-to-earnings ratio of 12.94, a price-to-earnings-growth ratio of 1.19 and a beta of 0.91. The company has a current ratio of 2.36, a quick ratio of 1.85 and a debt-to-equity ratio of 0.65.

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Synaptics Company Profile

Synaptics Incorporated develops, markets, and sells intuitive human interface solutions for electronic devices and products worldwide. The company offers its human interface products solutions for mobile product applications, including smartphones, tablets, and touchscreen applications, as well as mobile, handheld, wireless, and entertainment devices; notebook applications; and other personal computer (PC) product applications, such as keyboards, mice, and desktop product applications.

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