Analysts Anticipate Synaptics Incorporated (NASDAQ:SYNA) Will Announce Earnings of $0.80 Per Share
Wall Street analysts expect Synaptics Incorporated (NASDAQ:SYNA) to announce $0.80 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Synaptics’ earnings, with estimates ranging from $0.62 to $0.97. Synaptics reported earnings per share of $0.62 in the same quarter last year, which would suggest a positive year-over-year growth rate of 29%. The company is scheduled to announce its next quarterly earnings report on Thursday, October 26th.
Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Synaptics.
Synaptics (NASDAQ:SYNA) last posted its quarterly earnings data on Thursday, August 3rd. The software maker reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. The business had revenue of $426.50 million for the quarter, compared to analyst estimates of $426.49 million. Synaptics had a return on equity of 16.51% and a net margin of 2.84%. The business’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.46 earnings per share.
A number of brokerages have recently issued reports on SYNA. BidaskClub lowered Synaptics from a “hold” rating to a “sell” rating in a research report on Saturday. BMO Capital Markets cut their target price on Synaptics from $56.00 to $46.00 and set a “market perform” rating on the stock in a research report on Friday. Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 target price (down from $65.00) on shares of Synaptics in a research report on Friday. Craig Hallum raised Synaptics from a “hold” rating to a “buy” rating and cut their target price for the stock from $62.00 to $55.00 in a research report on Friday. Finally, Cowen and Company set a $75.00 target price on Synaptics and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Seven investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. Synaptics presently has a consensus rating of “Hold” and a consensus price target of $57.43.
In related news, insider Rick Bergman sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $55.61, for a total transaction of $556,100.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey D. Buchanan sold 9,375 shares of the company’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $55.92, for a total value of $524,250.00. Following 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. 3.60% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Ameriprise Financial Inc. increased its position in shares of 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. increased its position in shares of 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. increased its position in shares of 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 increased its position in shares of 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 increased its position in shares of 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. Hedge funds and other institutional investors own 93.01% of the company’s stock.
Shares of Synaptics (NASDAQ SYNA) opened at 44.88 on Tuesday. Synaptics has a 1-year low of $43.87 and a 1-year high of $69.45. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 67.59 and a beta of 1.13. The company’s 50 day moving average price is $54.09 and its 200-day moving average price is $54.00.
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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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