Zacks: Brokerages Expect Synaptics Incorporated (SYNA) Will Announce Quarterly Sales of $398.24 Million
Analysts expect that Synaptics Incorporated (NASDAQ:SYNA) will announce sales of $398.24 million for the current quarter, Zacks reports. Six analysts have provided estimates for Synaptics’ earnings, with estimates ranging from $383.05 million to $403.90 million. Synaptics reported sales of $386.20 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.1%. The company is scheduled to report its next earnings report on Thursday, October 26th.
According to Zacks, analysts expect that Synaptics will report full-year sales of $398.24 million for the current fiscal year, with estimates ranging from $1.70 billion to $1.76 billion. For the next year, analysts anticipate that the firm will post sales of $1.81 billion per share, with estimates ranging from $1.62 billion to $1.86 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Synaptics.
Synaptics (NASDAQ:SYNA) last issued its quarterly earnings data on Thursday, August 3rd. The software maker reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.11. The company had revenue of $426.50 million for the quarter, compared to analyst estimates of $426.49 million. Synaptics had a net margin of 2.84% and a return on equity of 16.51%. The company’s revenue was up 31.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.46 earnings per share.
Several equities research analysts recently commented on the company. Zacks Investment Research upgraded Synaptics from a “sell” rating to a “hold” rating and set a $44.00 price objective for the company in a report on Friday. BidaskClub downgraded Synaptics from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 23rd. CIBC reiterated an “underperform” rating and issued a $35.00 price objective (down from $45.00) on shares of Synaptics in a report on Tuesday, August 22nd. Oppenheimer Holdings, Inc. reduced their price objective on Synaptics from $45.00 to $35.00 and set an “underperform” rating for the company in a report on Tuesday, August 22nd. Finally, Citigroup Inc. reiterated an “underperform” rating and issued a $35.00 price objective (down from $45.00) on shares of Synaptics in a report on Tuesday, August 22nd. Seven research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $53.97.
Synaptics (SYNA) opened at 40.33 on Monday. The stock has a 50 day moving average of $48.08 and a 200 day moving average of $52.31. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 29.44 and a beta of 1.13. Synaptics has a 12 month low of $38.50 and a 12 month high of $69.45.
In other Synaptics news, insider Rick Bergman sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $55.61, for a total value of $556,100.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey D. Buchanan sold 9,375 shares of the firm’s stock in a transaction dated 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 directly owns 16,166 shares in the company, valued at $904,002.72. The disclosure for this sale can be found here. Company insiders own 3.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Ameriprise Financial Inc. boosted its position in Synaptics by 16.0% in the second quarter. Ameriprise Financial Inc. now owns 5,048,535 shares of the software maker’s stock worth $261,064,000 after buying an additional 697,328 shares during the last quarter. Vanguard Group Inc. boosted its position in Synaptics by 2.7% in the second quarter. Vanguard Group Inc. now owns 4,228,015 shares of the software maker’s stock worth $218,630,000 after buying an additional 110,567 shares during the last quarter. BlackRock Inc. boosted 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 last quarter. State Street Corp boosted its position in Synaptics by 0.6% in the second quarter. State Street Corp now owns 1,313,469 shares of the software maker’s stock worth $67,921,000 after buying an additional 8,390 shares during the last quarter. Finally, Lord Abbett & CO. LLC boosted its position in Synaptics by 2.3% in the second quarter. Lord Abbett & CO. LLC now owns 1,244,747 shares of the software maker’s stock worth $64,366,000 after buying an additional 27,878 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.
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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