Wall Street analysts expect Synaptics Incorporated (NASDAQ:SYNA) to announce $398.24 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Synaptics’ earnings. The lowest sales estimate is $383.05 million and the highest is $403.90 million. Synaptics reported sales of $386.20 million in the same quarter last year, which would suggest a positive year over year growth rate of 3.1%. The business is scheduled 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 financial year, with estimates ranging from $1.70 billion to $1.76 billion. For the next year, analysts expect that the company 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 a mean average based on a survey of sell-side research analysts that follow 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 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%. Synaptics’s quarterly revenue was up 31.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.46 earnings per share.
A number of analysts recently weighed in on SYNA shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Synaptics in a report on Monday, June 26th. Vetr raised shares of Synaptics from a “hold” rating to a “buy” rating and set a $57.50 target price on the stock in a research note on Monday, May 29th. BidaskClub raised shares of Synaptics from a “hold” rating to a “buy” rating in a research note on Saturday, June 10th. Needham & Company LLC reissued a “buy” rating and set a $65.00 target price on shares of Synaptics in a research note on Friday, June 9th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $68.00 target price on shares of Synaptics in a research note on Friday, July 28th. Seven research analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $54.09.
Shares of Synaptics (SYNA) traded down 1.91% during mid-day trading on Monday, hitting $41.57. 483,355 shares of the stock traded hands. Synaptics has a 12-month low of $38.50 and a 12-month high of $69.45. The firm’s 50 day moving average price is $46.87 and its 200-day moving average price is $51.88. The stock has a market cap of $1.40 billion, a P/E ratio of 30.34 and a beta of 1.13.
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Several hedge funds and other institutional investors have recently made changes to their positions in SYNA. Eqis Capital Management Inc. boosted its position in shares of Synaptics by 9.5% in the first quarter. Eqis Capital Management Inc. now owns 20,225 shares of the software maker’s stock valued at $1,001,000 after buying an additional 1,760 shares during the last quarter. State Treasurer State of Michigan boosted its position in shares of Synaptics by 2.9% in the first quarter. State Treasurer State of Michigan now owns 14,400 shares of the software maker’s stock valued at $713,000 after buying an additional 400 shares during the last quarter. Wedge Capital Management L L P NC boosted its position in shares of Synaptics by 14.8% in the first quarter. Wedge Capital Management L L P NC now owns 12,063 shares of the software maker’s stock valued at $597,000 after buying an additional 1,555 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new position in shares of Synaptics during the first quarter valued at approximately $470,000. Finally, Advisory Services Network LLC purchased a new position in shares of Synaptics during the first quarter valued at approximately $220,000. 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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