Synaptics Inc Stock Price, News & Analysis

Synaptics Incorporated (Nasdaq: SYNA) has won the 2024 EDGE Award in the Machine Learning and Deep Learning category for its Synaptics Astra™ AI-native IoT compute platform. The annual awards, presented by Endeavor Media, recognize outstanding innovation in product design and function for the engineering industry.

The Astra platform simplifies Edge AI deployment by combining scalable hardware, unified software, open-source AI, a broad partner ecosystem, and best-in-class wireless connectivity. It is built on the SL-Series of AI systems on chip (SoCs) featuring Arm® Cortex® A-series CPUs and onboard NPU, DSP, and GPU engines. These processors deliver up to 8 TOPS performance for Edge inferencing and multi-modal processing.

The Astra Machina™ Foundation Series development kit supports the SL-Series, helping both beginners and experts quickly leverage the processors' AI capabilities, processing power, and wireless connectivity features. This recognition highlights Synaptics' leadership in enabling the rapid development and deployment of context-aware IoT Edge devices for consumer, enterprise, and industrial applications.

b<>com and Synaptics Incorporated (Nasdaq: SYNA) have announced the implementation of b<>com's *Sublima*™ algorithm on Synaptics' VS680 multimedia system on chip (SoC). This marks the first AI-enabled frame-accurate, dynamic SDR-to-HDR video conversion for set-top boxes. The algorithm leverages the VS680's optimized neural processing unit (NPU), 7.9 TOPS performance, heterogeneous architecture, and security capabilities.

The combination provides an efficient, AI-enriched approach to process video in real-time for enhanced experiences on STBs, OTT streaming devices, and smart TVs. The implementation will be showcased at IBC in Synaptics' Booth Hall 1, C.20. The VS680 platform enables a more compact and efficient way to convert video content to HDR format while maintaining quality and competitive pricing for consumer and industrial video systems.

Synaptics (Nasdaq: SYNA) has announced its participation in an upcoming investor conference. Michael Hurlston, President & CEO, and Ken Rizvi, CFO, will represent the company at Citi's 2024 Global TMT Conference and GEMS Conference on Thursday, September 5, 2024.

This event provides an opportunity for investors to gain insights into Synaptics' strategies, financial performance, and future outlook. The participation of top executives suggests the company's commitment to maintaining open communication with the investment community and showcasing its position in the technology sector.

Synaptics Incorporated (Nasdaq: SYNA) has announced its participation in two upcoming investor conferences. The company's CFO, Ken Rizvi, will be representing Synaptics at these events:

1. The 5th Annual Needham Virtual Semiconductor & SemiCap 1x1 Conference on Thursday, August 22, 2024. Rizvi will participate virtually in this event.

2. The Jefferies Semiconductor, IT Hardware & Communications Technology Conference on Wednesday, August 28, 2024.

These conferences provide Synaptics with opportunities to engage with investors and discuss the company's performance, strategies, and outlook in the semiconductor industry.

Synaptics (Nasdaq: SYNA) reported its Q4'24 and fiscal 2024 financial results. For Q4'24, revenue was $247.4 million, with a GAAP gross margin of 45.8% and non-GAAP gross margin of 53.4%. GAAP diluted EPS stood at $5.22, while non-GAAP diluted EPS was $0.64. Full-year fiscal 2024 revenue reached $959.4 million, with a GAAP gross margin of 45.8% vs. 52.8% the prior year, and a non-GAAP gross margin of 53.0% vs. 60.1% the prior year. GAAP net income was $125.6 million or $3.16 per diluted share, whereas non-GAAP net income was $89.4 million or $2.25 per diluted share. CEO Michael Hurlston noted improvements in supply chain challenges and demand, with Core IoT products growing 63% YoY in Q4. For Q1 fiscal 2025, the company projects revenue of $255M ± $15M, and a non-GAAP gross margin of 53.5% ± 1.0%.

Synaptics (Nasdaq: SYNA) has announced it will release its fourth quarter and full year fiscal 2024 financial results on Thursday, August 8, 2024, after the market closes. The company will host a conference call for analysts and investors at 2:00 p.m. PT (5:00 p.m. ET) on the same day. During this call, management may discuss the company's financial performance and outlook. This announcement serves as a standard practice for public companies to keep shareholders and the market informed about their financial reporting schedule.

Valens Semiconductor (NYSE: VLN) and Good Way Technology have announced a new suite of products based on the Valens VS6320 chipset, compliant with the HDBaseT-USB3 standard. These products will support innovations in video conferencing and video walls, including the ability to extend four 4K streams or an 8K video wall over a single copper cable. The product suite will be demonstrated at COMPUTEX Taipei (June 4-7) and Infocomm (June 12-14). The VS6320 chipset, known for its high-performance USB 3.2 extension capabilities, is now available for mass production. The collaboration leverages Synaptics' DisplayLink technology, offering cost-effective and simplified solutions for hybrid conference rooms and video setups.

Synaptics announced the appointment of Ken Rizvi as its new Senior Vice President and Chief Financial Officer, effective July 15, 2024. Ken will report to CEO Michael Hurlston and oversee all aspects of Synaptics' global finance functions, including accounting, corporate development, and investor relations. He joins Synaptics from SMART Global Holdings, bringing over 20 years of experience in the semiconductor industry. Ken has previously served in senior financial roles at UTAC Holdings, Isola Group, Micron Technology, and ON Semiconductor. Michael Hurlston expressed confidence in Ken's ability to drive operational excellence and contribute to Synaptics' growth in IoT connectivity and processor solutions.

Synaptics (Nasdaq: SYNA) announced its participation in the 52nd Annual J.P. Morgan Global Technology, Media, and Communications Conference. The event will take place on Monday, May 20, 2024, at 6:20 AM PT. Michael Hurlston, President and CEO of Synaptics, will deliver the presentation. The webcast and replay will be available at the event's official website.