$308.86 Million in Sales Expected for Synaptics, Incorporated (NASDAQ:SYNA) This Quarter

Equities analysts expect Synaptics, Incorporated (NASDAQ:SYNA) to report $308.86 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Synaptics’ earnings. The highest sales estimate is $310.10 million and the lowest is $305.80 million. Synaptics posted sales of $388.50 million in the same quarter last year, which suggests a negative year over year growth rate of 20.5%. The business is scheduled to issue its next quarterly earnings report on Thursday, August 8th.

According to Zacks, analysts expect that Synaptics will report full year sales of $1.49 billion for the current fiscal year, with estimates ranging from $1.48 billion to $1.49 billion. For the next fiscal year, analysts expect that the business will report 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 cover Synaptics.

Synaptics (NASDAQ:SYNA) last announced its quarterly earnings results on Thursday, May 9th. The software maker reported $0.83 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.52. Synaptics had a net margin of 1.39% and a return on equity of 15.21%. The firm had revenue of $334.00 million for the quarter, compared to analyst estimates of $345.30 million. During the same period last year, the business earned $0.92 EPS. Synaptics’s revenue for the quarter was down 15.2% compared to the same quarter last year.

Several equities research analysts recently commented on SYNA shares. BidaskClub lowered shares of ZIX from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, May 21st. ValuEngine upgraded shares of Vermillion from a “hold” rating to a “buy” rating in a research note on Wednesday, May 15th. Needham & Company LLC reiterated a “buy” rating and set a $42.00 price target (down from $45.00) on shares of Synaptics in a research note on Friday, May 10th. Mizuho set a $88.00 price target on shares of Gilead Sciences and gave the stock a “buy” rating in a research note on Friday, May 10th. Finally, Craig Hallum lowered shares of SharpSpring from a “buy” rating to a “hold” rating and lifted their price target for the stock from $17.00 to $21.00 in a research note on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $42.44.

NASDAQ:SYNA traded up $0.05 during midday trading on Thursday, hitting $30.51. 343,262 shares of the company were exchanged, compared to its average volume of 663,692. The stock has a fifty day moving average of $28.47. Synaptics has a fifty-two week low of $26.34 and a fifty-two week high of $51.67. The company has a quick ratio of 2.56, a current ratio of 3.19 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $1.06 billion, a P/E ratio of 15.41 and a beta of 1.07.

In other Synaptics news, SVP John Mcfarland sold 2,829 shares of Synaptics stock in a transaction on Monday, May 13th. The shares were sold at an average price of $33.76, for a total value of $95,507.04. Following the transaction, the senior vice president now directly owns 21,871 shares in the company, valued at $738,364.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.70% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. NumerixS Investment Technologies Inc acquired a new position in Synaptics in the fourth quarter valued at $38,000. Penserra Capital Management LLC increased its stake in Synaptics by 50.0% in the first quarter. Penserra Capital Management LLC now owns 1,185 shares of the software maker’s stock valued at $47,000 after purchasing an additional 395 shares during the period. Neuburgh Advisers LLC increased its stake in Synaptics by 11.8% in the fourth quarter. Neuburgh Advisers LLC now owns 3,344 shares of the software maker’s stock valued at $124,000 after purchasing an additional 352 shares during the period. Truvestments Capital LLC acquired a new position in Synaptics in the first quarter valued at $136,000. Finally, Palouse Capital Management Inc. acquired a new position in Synaptics in the first quarter valued at $224,000. Institutional investors own 96.54% of the company’s stock.

About Synaptics

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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