Zacks: Brokerages Anticipate Synaptics, Incorporated (SYNA) Will Post Quarterly Sales of $394.02 Million

Equities research analysts predict that Synaptics, Incorporated (NASDAQ:SYNA) will announce sales of $394.02 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Synaptics’ earnings. The lowest sales estimate is $390.00 million and the highest is $403.10 million. Synaptics reported sales of $426.50 million during the same quarter last year, which indicates a negative year over year growth rate of 7.6%. The business is scheduled to issue its next earnings report on Thursday, August 2nd.

According to Zacks, analysts expect that Synaptics will report full year sales of $1.65 billion for the current financial year, with estimates ranging from $1.63 billion to $1.69 billion. For the next fiscal year, analysts anticipate that the business will report sales of $1.76 billion per share, with estimates ranging from $1.71 billion to $1.82 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Synaptics.

Synaptics (NASDAQ:SYNA) last issued its quarterly earnings data on Wednesday, May 9th. The software maker reported $0.92 EPS for the quarter, beating the consensus estimate of $0.91 by $0.01. Synaptics had a positive return on equity of 11.99% and a negative net margin of 6.28%. The firm had revenue of $394.00 million during the quarter, compared to analyst estimates of $401.97 million. During the same quarter in the prior year, the business posted $1.27 EPS. The business’s revenue for the quarter was down 11.3% compared to the same quarter last year.



SYNA has been the subject of a number of recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $55.00 price objective on shares of Synaptics in a research note on Tuesday, February 6th. Stifel Nicolaus lowered their price objective on Synaptics from $59.00 to $57.00 and set a “buy” rating on the stock in a report on Thursday, February 8th. Craig Hallum reiterated a “buy” rating and issued a $49.00 price objective (up from $43.00) on shares of Synaptics in a report on Thursday, February 8th. BidaskClub upgraded Synaptics from a “strong sell” rating to a “sell” rating in a report on Friday, February 9th. Finally, Mizuho raised shares of Synaptics from a “neutral” rating to a “buy” rating and lifted their price target for the company from $42.00 to $55.00 in a research report on Wednesday, April 11th. Six research analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $48.73.

In related news, Director Russell J. Knittel sold 15,000 shares of Synaptics stock in a transaction on Friday, May 11th. The shares were sold at an average price of $43.45, for a total transaction of $651,750.00. Following the sale, the director now owns 17,688 shares of the company’s stock, valued at approximately $768,543.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Francis F. Lee sold 20,000 shares of the firm’s stock in a transaction on Thursday, May 17th. The stock was sold at an average price of $43.00, for a total transaction of $860,000.00. Following the transaction, the director now directly owns 67,069 shares of the company’s stock, valued at $2,883,967. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,385 shares of company stock worth $1,965,037. 3.70% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC boosted its stake in Synaptics by 977.2% during the 4th quarter. SG Americas Securities LLC now owns 29,343 shares of the software maker’s stock valued at $1,172,000 after purchasing an additional 26,619 shares during the period. Schroder Investment Management Group increased its position in shares of Synaptics by 2,792.0% in the fourth quarter. Schroder Investment Management Group now owns 356,784 shares of the software maker’s stock worth $14,250,000 after acquiring an additional 344,447 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in shares of Synaptics in the fourth quarter worth approximately $264,000. First Quadrant L P CA grew its position in Synaptics by 671.1% during the fourth quarter. First Quadrant L P CA now owns 7,711 shares of the software maker’s stock valued at $308,000 after purchasing an additional 6,711 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in Synaptics by 9.8% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 241,753 shares of the software maker’s stock valued at $9,656,000 after purchasing an additional 21,607 shares in the last quarter. 96.06% of the stock is owned by institutional investors and hedge funds.

Synaptics traded down $0.04, reaching $41.73, during midday trading on Friday, MarketBeat.com reports. The stock had a trading volume of 13,455 shares, compared to its average volume of 602,802. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 12.53, a price-to-earnings-growth ratio of 1.24 and a beta of 0.92. Synaptics has a 52-week low of $33.73 and a 52-week high of $64.54. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.50 and a quick ratio of 2.09.

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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