Brokerages Expect Synaptics Incorporated (NASDAQ:SYNA) Will Post Quarterly Sales of $325.70 Million


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Analysts expect Synaptics Incorporated (NASDAQ:SYNA) to post $325.70 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Synaptics’ earnings, with estimates ranging from $324.50 million to $327.30 million. Synaptics reported sales of $328.10 million during the same quarter last year, which would suggest a negative year over year growth rate of 0.7%. The firm is expected to issue its next quarterly earnings report after the market closes on Thursday, May 6th.

On average, analysts expect that Synaptics will report full year sales of $1.33 billion for the current financial year, with estimates ranging from $1.31 billion to $1.35 billion. For the next year, analysts forecast that the business will post sales of $1.41 billion, with estimates ranging from $1.32 billion to $1.44 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Synaptics.

Synaptics (NASDAQ:SYNA) last announced its quarterly earnings results on Thursday, February 4th. The software maker reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.51. Synaptics had a net margin of 8.47% and a return on equity of 21.89%. The company had revenue of $357.60 million for the quarter, compared to analyst estimates of $356.68 million.

SYNA has been the topic of a number of research reports. JPMorgan Chase & Co. raised shares of Synaptics from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $129.00 to $175.00 in a report on Tuesday, March 16th. Morgan Stanley initiated coverage on shares of Synaptics in a report on Tuesday, March 2nd. They set an “overweight” rating and a $173.00 target price on the stock. Needham & Company LLC boosted their target price on shares of Synaptics from $150.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, March 29th. Zacks Investment Research upgraded shares of Synaptics from a “hold” rating to a “buy” rating and set a $161.00 price target on the stock in a research report on Friday. Finally, Cowen upgraded shares of Synaptics from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $130.00 to $176.00 in a research report on Monday. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $142.92.

In other Synaptics news, insider Saleel Awsare sold 1,794 shares of the company’s stock in a transaction on Monday, February 8th. The shares were sold at an average price of $122.01, for a total transaction of $218,885.94. Following the transaction, the insider now owns 41,808 shares in the company, valued at $5,100,994.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Nelson C. Chan sold 2,900 shares of the company’s stock in a transaction on Thursday, February 11th. The stock was sold at an average price of $125.00, for a total transaction of $362,500.00. Following the transaction, the director now owns 37,110 shares in the company, valued at approximately $4,638,750. The disclosure for this sale can be found here. Insiders have sold a total of 22,313 shares of company stock worth $2,740,768 in the last quarter. 0.85% 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 the business. Envestnet Asset Management Inc. raised its holdings in Synaptics by 54.1% during the first quarter. Envestnet Asset Management Inc. now owns 12,660 shares of the software maker’s stock worth $1,714,000 after buying an additional 4,444 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in Synaptics by 8.9% during the first quarter. Commonwealth Equity Services LLC now owns 5,798 shares of the software maker’s stock worth $785,000 after buying an additional 475 shares during the last quarter. State of Michigan Retirement System raised its holdings in Synaptics by 3.2% during the first quarter. State of Michigan Retirement System now owns 12,935 shares of the software maker’s stock worth $1,752,000 after buying an additional 400 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in Synaptics during the first quarter worth $45,000. Finally, Trustcore Financial Services LLC raised its holdings in Synaptics by 2.3% during the first quarter. Trustcore Financial Services LLC now owns 10,547 shares of the software maker’s stock worth $1,428,000 after buying an additional 240 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

SYNA traded down $2.91 during trading on Thursday, reaching $135.30. 648,039 shares of the company’s stock were exchanged, compared to its average volume of 493,244. Synaptics has a one year low of $55.59 and a one year high of $146.93. The company has a current ratio of 2.41, a quick ratio of 1.96 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $4.73 billion, a PE ratio of 42.41, a price-to-earnings-growth ratio of 1.89 and a beta of 1.17. The firm has a fifty day moving average price of $136.60 and a two-hundred day moving average price of $108.38.

Synaptics Company Profile

Synaptics Incorporated develops, markets, and sells intuitive human interface solutions for electronic devices and products worldwide. The company offers ClearPad, which enables users to interact directly with the display on mobile smartphones, tablets, and automobiles; ClearView products that provide advanced image processing and low power technology for displays on electronic devices, including smartphones and tablets; TouchView products, which integrate touch and display technologies to deliver performance and simplified design; and Natural ID, a fingerprint ID product that is used in automobiles, notebook personal computers (PCs), PC peripherals, and other applications.

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