Synaptics Incorporated (NASDAQ:SYNA) Expected to Announce Earnings of $3.69 Per Share

Brokerages expect that Synaptics Incorporated (NASDAQ:SYNAGet Rating) will announce $3.52 earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have made estimates for Synaptics’ earnings, with the lowest EPS estimate coming in at $3.67 and the highest estimate coming in at $3.72. Synaptics posted earnings per share of $2.18 in the same quarter last year, which indicates a positive year over year growth rate of 61.5%. The firm is expected to report its next earnings results on Monday, January 1st.

Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Synaptics.

Synaptics (NASDAQ:SYNAGet Rating) last released its earnings results on Thursday, May 5th. The software maker reported $3.75 EPS for the quarter, topping analysts’ consensus estimates of $3.55 by $0.20. Synaptics had a return on equity of 34.97% and a net margin of 12.17%. The company had revenue of $470.10 million for the quarter, compared to the consensus estimate of $464.65 million. During the same quarter last year, the business posted $1.39 EPS. Synaptics’s quarterly revenue was up 44.3% compared to the same quarter last year.

A number of research analysts have commented on SYNA shares. Craig Hallum reduced their target price on Synaptics from $265.00 to $220.00 in a report on Friday, May 6th. StockNews.com began coverage on Synaptics in a report on Thursday, March 31st. They set a “hold” rating on the stock. Wells Fargo & Company began coverage on Synaptics in a report on Thursday, April 7th. They issued an “equal weight” rating and a $185.00 price target on the stock. Zacks Investment Research raised Synaptics from a “sell” rating to a “hold” rating in a report on Friday, May 6th. Finally, KeyCorp cut their price target on Synaptics from $310.00 to $250.00 and set an “overweight” rating on the stock in a report on Tuesday, April 12th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Synaptics currently has a consensus rating of “Buy” and a consensus price target of $243.85.

NASDAQ:SYNA traded up $7.28 during trading hours on Friday, reaching $145.21. 649,024 shares of the stock were exchanged, compared to its average volume of 655,463. The company has a quick ratio of 2.80, a current ratio of 3.17 and a debt-to-equity ratio of 0.85. The firm has a 50 day simple moving average of $181.20 and a 200-day simple moving average of $222.49. Synaptics has a 52 week low of $117.00 and a 52 week high of $299.39. The stock has a market capitalization of $5.75 billion, a P/E ratio of 30.44 and a beta of 1.34.

In other news, Director Kiva A. Allgood sold 196 shares of Synaptics stock in a transaction on Monday, May 9th. The stock was sold at an average price of $155.61, for a total transaction of $30,499.56. Following the transaction, the director now directly owns 6,654 shares in the company, valued at approximately $1,035,428.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Dean Warren Butler sold 1,126 shares of Synaptics stock in a transaction on Monday, May 9th. The shares were sold at an average price of $155.61, for a total value of $175,216.86. Following the transaction, the insider now owns 26,651 shares in the company, valued at $4,147,162.11. The disclosure for this sale can be found here. 0.80% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the company. Morgan Stanley grew its holdings in shares of Synaptics by 99.7% in the 2nd quarter. Morgan Stanley now owns 267,957 shares of the software maker’s stock worth $41,689,000 after acquiring an additional 133,810 shares during the last quarter. Raymond James & Associates grew its holdings in shares of Synaptics by 12.1% in the 3rd quarter. Raymond James & Associates now owns 3,110 shares of the software maker’s stock worth $559,000 after acquiring an additional 335 shares during the last quarter. Moors & Cabot Inc. grew its holdings in shares of Synaptics by 440.5% in the 3rd quarter. Moors & Cabot Inc. now owns 60,000 shares of the software maker’s stock worth $66,000 after acquiring an additional 48,900 shares during the last quarter. Advisory Services Network LLC grew its holdings in shares of Synaptics by 131.6% in the 3rd quarter. Advisory Services Network LLC now owns 1,401 shares of the software maker’s stock worth $252,000 after acquiring an additional 796 shares during the last quarter. Finally, Swiss National Bank grew its holdings in shares of Synaptics by 1.0% in the 3rd quarter. Swiss National Bank now owns 77,800 shares of the software maker’s stock worth $13,983,000 after acquiring an additional 800 shares during the last quarter. Institutional investors own 91.93% of the company’s stock.

About Synaptics (Get Rating)

Synaptics Incorporated develops and supplies semiconductor products and solutions 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 or over-the-top, streaming devices, soundbars, surveillance cameras, and smart displays; and ImagingSmart solutions.

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