Synaptics (NASDAQ:SYNA) Updates Q2 Earnings Guidance

Synaptics (NASDAQ:SYNA) updated its second quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.65-$1.05 for the period, compared to the consensus earnings per share estimate of $0.84. The company issued revenue guidance of $250-$280 million, compared to the consensus revenue estimate of $262.87 million.

Synaptics Trading Up 3.4 %

SYNA traded up $2.46 during trading on Thursday, hitting $74.64. The company’s stock had a trading volume of 405,577 shares, compared to its average volume of 307,487. The company has a quick ratio of 3.78, a current ratio of 4.19 and a debt-to-equity ratio of 0.66. Synaptics has a twelve month low of $67.83 and a twelve month high of $121.37. The stock’s fifty day moving average price is $73.93 and its 200-day moving average price is $82.51. The firm has a market capitalization of $2.98 billion, a P/E ratio of 23.28 and a beta of 1.47.

Synaptics (NASDAQ:SYNA) last released its quarterly earnings data on Thursday, August 8th. The software maker reported $0.64 EPS for the quarter, beating the consensus estimate of $0.55 by $0.09. Synaptics had a negative return on equity of 0.54% and a net margin of 13.09%. The firm had revenue of $247.40 million during the quarter, compared to the consensus estimate of $245.17 million. During the same quarter in the previous year, the company posted $0.01 earnings per share. The company’s quarterly revenue was up 8.8% on a year-over-year basis. Analysts anticipate that Synaptics will post 0.81 EPS for the current year.

Analysts Set New Price Targets

SYNA has been the subject of several recent analyst reports. TD Cowen decreased their price target on Synaptics from $115.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, August 9th. KeyCorp lowered shares of Synaptics from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Susquehanna decreased their price target on shares of Synaptics from $110.00 to $95.00 and set a “positive” rating for the company in a research note on Monday, October 21st. Needham & Company LLC dropped their price objective on shares of Synaptics from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Craig Hallum reduced their price objective on shares of Synaptics from $105.00 to $80.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Synaptics currently has an average rating of “Moderate Buy” and an average price target of $101.00.

Insider Transactions at Synaptics

In other news, insider Vikram Gupta sold 1,870 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $80.00, for a total value of $149,600.00. Following the completion of the sale, the insider now owns 46,797 shares of the company’s stock, valued at approximately $3,743,760. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 5,609 shares of company stock valued at $448,720 in the last quarter. Insiders own 1.30% of the company’s stock.

Synaptics Company Profile

Synaptics Incorporated develops, markets, and sells semiconductor products worldwide. The company offers AudioSmart for voice and audio processing; ConnectSmart for high-speed video/audio/data connectivity; DisplayLink for transmitting compressed video frames across low bandwidth connections; VideoSmart that enables set-top boxes, over-the-top, streaming devices, soundbars, surveillance cameras, and smart displays; and ImagingSmart solutions.