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Synaptics Inc. (NASDAQ: SYNA) is leading the revolution in human interface solutions for intelligent devices. Specializing in touch, display, and biometrics, Synaptics offers a broad portfolio of products that enhance user experiences across mobile, PC, automotive, and IoT sectors. The company's cutting-edge technologies power interfaces for touch, display, fingerprint, video, audio, voice, AI, and connectivity functions, ensuring intuitive interactions with electronic devices.
Synaptics leverages a robust R&D foundation and extensive intellectual property to deliver innovative solutions that combine functionality, ease of use, and aesthetic appeal. The company derives a significant portion of its revenue from China and operates in a single segment dedicated to developing, marketing, and selling semiconductor products used in various electronic devices.
Recent financial results indicate a period of stabilization and strategic growth. For the first quarter of fiscal 2024, Synaptics reported net revenue of $237.7 million and a GAAP net loss of $55.6 million. However, on a non-GAAP basis, the company achieved a net income of $20.3 million. In the second quarter, Synaptics' net revenue was $237.0 million, with a GAAP net loss of $9.0 million and a non-GAAP net income of $22.5 million. The third quarter continued this trend with net revenue of $237.3 million and a GAAP net loss of $18.1 million, but a non-GAAP net income of $21.0 million.
Synaptics is proactively addressing inventory challenges and focusing on growth in its Core IoT segment, particularly with its wireless product family. The recent launch of the Astra™ platform positions the company to capitalize on a $20 billion market opportunity for embedded edge AI processors in IoT devices.
The company's strategic partnerships and product innovations, such as the collaboration with Valens Semiconductor and Good Way Technology, demonstrate its commitment to expanding its market presence and delivering advanced connectivity solutions. Synaptics' DisplayLink technology, integrated into new products, offers simplified, cost-effective solutions for video conferencing and video wall markets.
With a strong balance sheet and positive cash flow, Synaptics is well-equipped to invest in future growth and navigate macroeconomic challenges. The company's long-term initiatives, including advancements in AI and connectivity technologies, are set to drive sustained growth and innovation in the coming years.
Synaptics (Nasdaq: SYNA) announced it will release its financial results for the third quarter of fiscal 2023 on May 3, 2023, after market close. A conference call for analysts and investors will follow at 2:00 p.m. PT (5:00 p.m. ET) where management may share forward-looking information. Participants can register online for the call and will receive a unique passcode for access. An archived webcast will be available on the Synaptics Investor Relations website. The company focuses on enhancing user experiences with innovative technologies in touch, display, and biometrics, aimed at connected devices.
Synaptics (SYNA) has announced two award-winning solutions: Resonate™ surface audio and haptics, and the SYN4382 Triple Combo 2™ SoC. Both were recognized with Embedded Computing Design magazine’s “Best in Show” awards at the Embedded World 2023 conference. Resonate integrates audio and haptics into display surfaces for a more immersive experience, addressing power and reliability issues. The SYN4382 SoC enhances wireless connectivity with improved throughput of up to 1200 Mbps and supports multiple protocols, including Wi-Fi 6/6E and Bluetooth 5.3. Both solutions are currently available for sampling.
Synaptics Incorporated (Nasdaq: SYNA) has unveiled the new SYN4382 Triple Combo wireless IoT platform at Embedded World 2023. This system-on-chip (SoC) integrates advanced technologies, enabling simultaneous operation of Wi-Fi 2.4/5/6/6E and Bluetooth 5.3, enhancing audio and video streaming experiences. Key features include double the Wi-Fi throughput at 1200 Mbps and support for real-time dual-band connectivity. The SYN4382 is designed for complex applications such as automotive infotainment and home theater systems, while maintaining low power consumption and complexity. It supports Matter interoperability, ensuring seamless device communication.
Synaptics (Nasdaq: SYNA) has unveiled Synaptics Resonate™, an innovative solution that utilizes display surfaces as sound and haptics transducers. This technology aims to enhance the user experience across various IoT devices while minimizing space, cost, and power usage. Key advantages include up to 80% increased power efficiency compared to traditional speakers, immersive audio, and more dynamic haptic feedback. The product is currently being sampled and targets industries like automotive and consumer electronics.
Synaptics (Nasdaq: SYNA) announced its participation in upcoming investor conferences to enhance engagement with stakeholders.
- Dean Butler, CFO, will attend Bernstein's Tech, Media, Telecom & Consumer 1x1 Forum on March 1, 2023.
- He will also participate in Susquehanna's Twelfth Annual Technology Conference on March 2, 2023.
Synaptics is at the forefront of transforming human interaction with connected devices, offering cutting-edge technologies in touch, display, and biometrics. Their solutions aim to boost productivity and enrich digital experiences across various platforms.
Synaptics announced the expansion of its leadership team with the appointment of Lori Stahl as Chief People Officer and Vikram Gupta as SVP and GM of IoT Processors and Chief Product Officer. Stahl, with 25 years of HR experience in tech and other industries, previously served as Chief People Officer at Vocera Communications, earning accolades for workplace culture. Gupta joins from Infineon Technologies, where he played a key role post-acquisition of Cypress. His extensive background includes leadership positions at Broadcom and Intel. The new appointments aim to enhance Synaptics’ strategic direction in HR and IoT processing.
Synaptics (SYNA) reported Q2'23 results with revenue of $353.1 million, maintaining a GAAP gross margin of 52.9% and a non-GAAP gross margin of 59.8%. GAAP diluted earnings per share were $0.55, while non-GAAP diluted earnings per share reached $2.20. The CEO expressed confidence in product offerings in automotive, wireless, and video interfaces showcased at CES, aiming for long-term growth. However, the CFO indicated a modest sequential revenue decline forecasted for Q3'23 due to cautious customer inventory management.
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