$398.24 Million in Sales Expected for Synaptics Incorporated (SYNA) This Quarter
Wall Street brokerages expect Synaptics Incorporated (NASDAQ:SYNA) to report sales of $398.24 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Synaptics’ earnings, with the lowest sales estimate coming in at $383.05 million and the highest estimate coming in at $403.90 million. Synaptics posted sales of $386.20 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 3.1%. The firm is expected to issue its next earnings results 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 forecast that the business will post sales of $1.81 billion per share, with estimates ranging from $1.62 billion to $1.86 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Synaptics.
Synaptics (NASDAQ:SYNA) last posted its quarterly earnings results on Thursday, August 3rd. The software maker reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.11. The business had revenue of $426.50 million during the quarter, compared to the consensus estimate of $426.49 million. Synaptics had a return on equity of 16.51% and a net margin of 2.84%. Synaptics’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.46 earnings per share.
Several research firms have commented on SYNA. Needham & Company LLC reissued a “buy” rating and issued a $65.00 target price on shares of Synaptics in a research report on Friday, June 9th. Vetr cut shares of Synaptics from a “hold” rating to a “sell” rating and set a $57.50 price objective for the company. in a research note on Wednesday, June 7th. BidaskClub upgraded shares of Synaptics from a “hold” rating to a “buy” rating in a research note on Saturday, June 10th. Rosenblatt Securities restated a “buy” rating and issued a $70.00 price objective on shares of Synaptics in a research note on Monday, June 26th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $68.00 price objective on shares of Synaptics in a research note on Friday, July 28th. Seven analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company’s stock. Synaptics currently has an average rating of “Hold” and a consensus target price of $54.09.
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Synaptics (SYNA) opened at 40.59 on Friday. Synaptics has a 1-year low of $37.39 and a 1-year high of $69.45. The firm has a market cap of $1.37 billion, a P/E ratio of 29.63 and a beta of 1.14. The company has a 50-day moving average price of $43.08 and a 200-day moving average price of $50.78.
Large investors have recently added to or reduced their stakes in the stock. Highlander Capital Management LLC acquired a new position in Synaptics during the 2nd quarter valued at $104,000. Harbour Capital Advisors LLC acquired a new position in Synaptics during the 1st quarter valued at $104,000. Riverhead Capital Management LLC raised its stake in Synaptics by 95.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,730 shares of the software maker’s stock valued at $141,000 after purchasing an additional 1,330 shares during the last quarter. LS Investment Advisors LLC raised its stake in Synaptics by 17.9% during the 2nd quarter. LS Investment Advisors LLC now owns 2,775 shares of the software maker’s stock valued at $143,000 after purchasing an additional 421 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Synaptics by 51.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,806 shares of the software maker’s stock valued at $145,000 after purchasing an additional 948 shares during the last quarter. Hedge funds and other institutional investors own 97.74% of the company’s stock.
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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