Synaptics Incorporated (SYNA) Expected to Announce Earnings of $0.80 Per Share
Wall Street brokerages expect Synaptics Incorporated (NASDAQ:SYNA) to report $0.80 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Synaptics’ earnings, with the highest EPS estimate coming in at $0.97 and the lowest estimate coming in at $0.62. Synaptics posted earnings per share of $0.62 in the same quarter last year, which suggests a positive year-over-year growth rate of 29%. The firm is expected to report its next earnings results on Thursday, October 26th.
Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that follow Synaptics.
Synaptics (NASDAQ:SYNA) last posted its quarterly earnings results on Thursday, August 3rd. The software maker reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.11. Synaptics had a net margin of 2.84% and a return on equity of 16.51%. The company had revenue of $426.50 million during the quarter, compared to analyst estimates of $426.49 million. During the same period last year, the firm posted $0.46 EPS. Synaptics’s revenue for the quarter was up 31.7% compared to the same quarter last year.
SYNA has been the subject of several research analyst reports. Vetr raised Synaptics from a “hold” rating to a “buy” rating and set a $57.50 price objective for the company in a report on Wednesday, May 17th. Zacks Investment Research downgraded Synaptics from a “hold” rating to a “sell” rating in a report on Thursday, June 29th. Craig Hallum decreased their price objective on Synaptics from $65.00 to $62.00 and set a “hold” rating for the company in a report on Friday, April 28th. Needham & Company LLC increased their price objective on Synaptics from $60.00 to $65.00 and gave the company a “buy” rating in a report on Friday, April 28th. Finally, BidaskClub raised Synaptics from a “sell” rating to a “hold” rating in a report on Sunday, July 16th. Seven investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $57.43.
In other Synaptics news, Director Jeffrey D. Buchanan sold 9,375 shares of the stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $55.92, for a total value of $524,250.00. Following the completion of the transaction, the director now owns 16,166 shares in the company, valued at $904,002.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Rick Bergman sold 10,000 shares of the stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $55.61, for a total value of $556,100.00. The disclosure for this sale can be found here. 3.60% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SYNA. TrimTabs Asset Management LLC boosted its position in Synaptics by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 2,073 shares of the software maker’s stock valued at $103,000 after buying an additional 976 shares during the last quarter. Harbour Capital Advisors LLC acquired a new position in Synaptics during the first quarter valued at about $104,000. Edge Wealth Management LLC boosted its position in Synaptics by 1,451.0% in the first quarter. Edge Wealth Management LLC now owns 2,218 shares of the software maker’s stock valued at $110,000 after buying an additional 2,075 shares during the last quarter. LS Investment Advisors LLC boosted its position in Synaptics by 17.9% in the second quarter. LS Investment Advisors LLC now owns 2,775 shares of the software maker’s stock valued at $143,000 after buying an additional 421 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in Synaptics during the second quarter valued at about $147,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.
Synaptics (NASDAQ:SYNA) opened at 44.88 on Tuesday. Synaptics has a 52-week low of $43.87 and a 52-week high of $69.45. The firm’s 50-day moving average is $54.09 and its 200-day moving average is $54.00. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 67.59 and a beta of 1.13.
Synaptics Company Profile
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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