Synaptics (NASDAQ:SYNA) Updates Q2 Earnings Guidance

Synaptics (NASDAQ:SYNA) updated its second quarter earnings guidance on Thursday. The company provided EPS guidance of $0.65-$1.05 for the period, compared to the consensus EPS estimate of $0.84. The company issued revenue guidance of $250-$280 million, compared to the consensus revenue estimate of $262.87 million.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SYNA. TD Cowen reduced their price target on Synaptics from $115.00 to $90.00 and set a “buy” rating for the company in a report on Friday, August 9th. Susquehanna reduced their price objective on shares of Synaptics from $110.00 to $95.00 and set a “positive” rating for the company in a research note on Monday, October 21st. KeyCorp cut shares of Synaptics from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Needham & Company LLC reduced their price target on shares of Synaptics from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. cut their target price on Synaptics from $120.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $101.00.

Synaptics Stock Performance

NASDAQ SYNA traded up $2.46 on Thursday, hitting $74.64. 405,577 shares of the company traded hands, compared to its average volume of 307,487. The business’s 50 day moving average price is $73.93 and its 200-day moving average price is $82.51. Synaptics has a 52-week low of $67.83 and a 52-week high of $121.37. The company has a current ratio of 4.19, a quick ratio of 3.78 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $2.98 billion, a price-to-earnings ratio of 23.28 and a beta of 1.47.

Synaptics (NASDAQ:SYNA) last announced its quarterly earnings data on Thursday, August 8th. The software maker reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.09. Synaptics had a negative return on equity of 0.54% and a net margin of 13.09%. The company had revenue of $247.40 million during the quarter, compared to the consensus estimate of $245.17 million. During the same period in the previous year, the company posted $0.01 EPS. The firm’s revenue was up 8.8% on a year-over-year basis. Equities analysts expect that Synaptics will post 0.81 earnings per share for the current year.

Insider Transactions at Synaptics

In other news, insider Vikram Gupta sold 1,008 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $80.00, for a total value of $80,640.00. Following the completion of the transaction, the insider now owns 45,789 shares of the company’s stock, valued at $3,663,120. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 5,609 shares of company stock valued at $448,720 over the last three months. Corporate insiders own 1.30% of the company’s stock.

Synaptics Company Profile

Synaptics Incorporated develops, markets, and sells semiconductor products worldwide. The company offers AudioSmart for voice and audio processing; ConnectSmart for high-speed video/audio/data connectivity; DisplayLink for transmitting compressed video frames across low bandwidth connections; VideoSmart that enables set-top boxes, over-the-top, streaming devices, soundbars, surveillance cameras, and smart displays; and ImagingSmart solutions.