$314.11 Million in Sales Expected for Synaptics, Incorporated (NASDAQ:SYNA) This Quarter

Wall Street brokerages forecast that Synaptics, Incorporated (NASDAQ:SYNA) will announce $314.11 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Synaptics’ earnings, with estimates ranging from $309.60 million to $317.80 million. Synaptics posted sales of $417.60 million in the same quarter last year, which suggests a negative year over year growth rate of 24.8%. The firm is scheduled to announce its next quarterly earnings report on Thursday, November 14th.

On average, analysts expect that Synaptics will report full year sales of $1.26 billion for the current financial year, with estimates ranging from $1.25 billion to $1.30 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.23 billion, with estimates ranging from $1.18 billion to $1.31 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Synaptics.

Synaptics (NASDAQ:SYNA) last posted its quarterly earnings results on Thursday, August 8th. The software maker reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.47. The company had revenue of $295.10 million during the quarter, compared to analyst estimates of $307.27 million. Synaptics had a negative net margin of 1.56% and a positive return on equity of 12.74%. The firm’s revenue for the quarter was down 24.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.00 earnings per share.

SYNA has been the subject of several research reports. BMO Capital Markets increased their price target on shares of Synaptics from $29.00 to $33.00 and gave the company a “market perform” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. lowered shares of Synaptics from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $35.00 to $25.00 in a research report on Friday, August 9th. Zacks Investment Research lowered shares of Synaptics from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Dougherty & Co upgraded shares of Synaptics from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Friday, August 9th. Finally, Rosenblatt Securities reaffirmed a “hold” rating and set a $42.00 price objective on shares of Synaptics in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $35.33.

In other Synaptics news, Director Nelson C. Chan sold 6,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $33.25, for a total transaction of $199,500.00. Following the sale, the director now directly owns 39,449 shares of the company’s stock, valued at $1,311,679.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.70% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in Synaptics by 8.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,741,214 shares of the software maker’s stock valued at $64,791,000 after purchasing an additional 142,207 shares during the period. Geode Capital Management LLC raised its position in Synaptics by 30.4% in the fourth quarter. Geode Capital Management LLC now owns 538,257 shares of the software maker’s stock valued at $20,028,000 after purchasing an additional 125,449 shares during the period. Rhumbline Advisers raised its position in Synaptics by 0.4% in the first quarter. Rhumbline Advisers now owns 108,714 shares of the software maker’s stock valued at $4,321,000 after purchasing an additional 466 shares during the period. Texas Permanent School Fund raised its position in Synaptics by 3.1% in the first quarter. Texas Permanent School Fund now owns 23,359 shares of the software maker’s stock valued at $929,000 after purchasing an additional 705 shares during the period. Finally, Victory Capital Management Inc. purchased a new stake in Synaptics in the first quarter valued at $9,559,000. 95.82% of the stock is currently owned by hedge funds and other institutional investors.

SYNA traded up $0.72 during trading on Tuesday, hitting $39.06. 31,092 shares of the company traded hands, compared to its average volume of 454,413. The firm has a market cap of $1.27 billion, a P/E ratio of 15.63 and a beta of 0.96. The stock’s fifty day moving average is $33.18 and its 200 day moving average is $33.82. The company has a quick ratio of 2.25, a current ratio of 2.88 and a debt-to-equity ratio of 0.71. Synaptics has a one year low of $26.34 and a one year high of $47.87.

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.

See Also: Net Margin

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