Brokerages Expect Synaptics Incorporated (NASDAQ:SYNA) Will Post Earnings of $0.77 Per Share
Brokerages expect Synaptics Incorporated (NASDAQ:SYNA) to announce earnings of $0.77 per share for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Synaptics’ earnings. The highest EPS estimate is $0.78 and the lowest is $0.77. Synaptics reported earnings per share of $0.24 in the same quarter last year, which would suggest a positive year over year growth rate of 220.8%. The company is scheduled to issue its next quarterly earnings results after the market closes on Thursday, August 3rd.
Zacks’ EPS averages are a mean average based on a survey of research firms that cover Synaptics.
Synaptics (NASDAQ:SYNA) last released its earnings results on Thursday, April 27th. The software maker reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by $0.04. Synaptics had a return on equity of 13.73% and a net margin of 1.48%. The business had revenue of $442.20 million for the quarter, compared to analyst estimates of $430.19 million. During the same period in the prior year, the firm posted $1.21 EPS. Synaptics’s revenue was up 9.9% on a year-over-year basis.
SYNA has been the subject of several analyst reports. Needham & Company LLC raised their price target on shares of Synaptics from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Vetr upgraded shares of Synaptics from a “hold” rating to a “buy” rating and set a $57.50 price objective for the company in a research report on Wednesday, May 17th. Cowen and Company reiterated an “outperform” rating and set a $75.00 price objective on shares of Synaptics in a research report on Wednesday, March 22nd. BidaskClub upgraded shares of Synaptics from a “hold” rating to a “buy” rating in a research report on Saturday, June 10th. Finally, Zacks Investment Research cut shares of Synaptics from a “buy” rating to a “hold” rating in a research report on Friday, May 5th. Six investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $59.43.
Synaptics (NASDAQ:SYNA) traded down 0.02% during mid-day trading on Tuesday, reaching $52.81. 595,106 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $55.41 and a 200-day moving average of $54.02. Synaptics has a 12 month low of $47.00 and a 12 month high of $69.45. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 79.53 and a beta of 1.13.
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In other Synaptics news, VP Wajid Ali sold 555 shares of the firm’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $56.75, for a total value of $31,496.25. Following the transaction, the vice president now directly owns 15,900 shares of the company’s stock, valued at $902,325. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey D. Buchanan sold 9,375 shares of the firm’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $55.92, for a total transaction of $524,250.00. Following the completion of the transaction, the director now directly owns 16,166 shares in the company, valued at $904,002.72. The disclosure for this sale can be found here. Insiders sold 39,930 shares of company stock valued at $2,212,446 over the last 90 days. Corporate insiders own 3.60% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. raised its position in Synaptics by 18.2% in the first quarter. Ameriprise Financial Inc. now owns 4,351,207 shares of the software maker’s stock worth $215,426,000 after buying an additional 671,478 shares during the period. BlackRock Inc. raised its position in Synaptics by 23,834.7% in the first quarter. BlackRock Inc. now owns 4,199,575 shares of the software maker’s stock worth $207,921,000 after buying an additional 4,182,029 shares during the period. Vanguard Group Inc. raised its position in Synaptics by 9.2% in the first quarter. Vanguard Group Inc. now owns 4,117,448 shares of the software maker’s stock worth $203,855,000 after buying an additional 346,309 shares during the period. State Street Corp raised its position in Synaptics by 5.1% in the first quarter. State Street Corp now owns 1,305,079 shares of the software maker’s stock worth $64,617,000 after buying an additional 63,141 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Synaptics by 13.0% in the first quarter. Dimensional Fund Advisors LP now owns 994,827 shares of the software maker’s stock worth $49,254,000 after buying an additional 114,715 shares during the period.
Synaptics Incorporated is engaged in the development, marketing and sale of intuitive human interface solutions for electronic devices and products. The Company is a developer and supplier of custom-designed human interface product solutions that enable people to interact with a range of mobile computing, communications, entertainment and other electronic devices.
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