Analysts predict that Synaptics, Incorporated (NASDAQ:SYNA) will announce sales of $411.02 million for the current quarter, Zacks reports. Four analysts have issued estimates for Synaptics’ earnings. The lowest sales estimate is $408.80 million and the highest is $412.90 million. Synaptics posted sales of $417.40 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 1.5%. The company is scheduled to announce its next earnings report on Tuesday, November 6th.
According to Zacks, analysts expect that Synaptics will report full-year sales of $1.68 billion for the current fiscal year, with estimates ranging from $1.66 billion to $1.70 billion. For the next financial year, analysts forecast that the business will report sales of $1.75 billion per share, with estimates ranging from $1.71 billion to $1.78 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Synaptics.
Synaptics (NASDAQ:SYNA) last announced its earnings results on Thursday, August 9th. The software maker reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.09. Synaptics had a positive return on equity of 11.07% and a negative net margin of 7.61%. The firm had revenue of $388.50 million for the quarter, compared to the consensus estimate of $391.75 million. During the same quarter in the previous year, the business earned $1.18 EPS. The company’s revenue was down 8.9% compared to the same quarter last year.
Several equities analysts recently commented on the company. Zacks Investment Research upgraded Synaptics from a “sell” rating to a “hold” rating in a research note on Thursday, June 28th. BidaskClub upgraded Synaptics from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 23rd. Stifel Nicolaus increased their target price on Synaptics from $54.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, June 20th. Craig Hallum upgraded Synaptics from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research report on Wednesday, August 1st. Finally, Needham & Company LLC increased their target price on Synaptics from $52.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, August 10th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. Synaptics presently has a consensus rating of “Hold” and a consensus target price of $53.20.
Shares of NASDAQ SYNA traded down $0.55 during midday trading on Tuesday, reaching $46.71. The company’s stock had a trading volume of 2,004 shares, compared to its average volume of 454,236. Synaptics has a 12-month low of $33.73 and a 12-month high of $55.25. The company has a market capitalization of $1.63 billion, a PE ratio of 23.73, a PEG ratio of 1.58 and a beta of 0.81. The company has a quick ratio of 2.14, a current ratio of 2.61 and a debt-to-equity ratio of 0.62.
In other news, insider Rick Bergman sold 20,000 shares of the company’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $48.35, for a total value of $967,000.00. Following the transaction, the insider now owns 148,960 shares of the company’s stock, valued at $7,202,216. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 3.70% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC increased its holdings in shares of Synaptics by 120.0% in the second quarter. Catalyst Capital Advisors LLC now owns 38,500 shares of the software maker’s stock worth $1,939,000 after purchasing an additional 21,000 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Synaptics by 53.3% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,315 shares of the software maker’s stock worth $197,000 after purchasing an additional 1,500 shares during the period. HGK Asset Management Inc. increased its holdings in shares of Synaptics by 18.1% in the second quarter. HGK Asset Management Inc. now owns 11,719 shares of the software maker’s stock worth $590,000 after purchasing an additional 1,799 shares during the period. Franklin Resources Inc. bought a new position in shares of Synaptics in the first quarter worth $45,069,000. Finally, Principal Financial Group Inc. increased its holdings in shares of Synaptics by 3.8% in the first quarter. Principal Financial Group Inc. now owns 152,172 shares of the software maker’s stock worth $6,958,000 after purchasing an additional 5,614 shares during the period. 98.21% of the stock is currently owned by hedge funds and other institutional investors.
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.
Featured Story: Fundamental Analysis – How It Helps Investors
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Synaptics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synaptics and related companies with MarketBeat.com's FREE daily email newsletter.