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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 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.
Synaptics (Nasdaq: SYNA) has announced it will report its financial results for Q2 FY2023 on February 2, 2023, following market close. The event will include a conference call at 2:00 PM PT (5:00 PM ET) for analysts and investors, where management may provide forward-looking insights. Interested participants are encouraged to pre-register to gain access to the call. The webcast of the call will also be available on the Company’s Investor Relations website.
Synaptics (SYNA) unveiled the ThinkBook Wireless Dock at CES 2023, the world’s first truly wireless docking solution for dual UHD 4K@60Hz displays, utilizing Wi-Fi 6/6E. This innovative dock integrates a 45W charging mat for notebooks and a 10W universal mat for smartphones and IoT devices. The dock enhances productivity by enabling seamless connectivity without cables, with a focus on security through a timed disconnect feature.
Available in June 2023, this technology positions Synaptics as a leader in wireless docking solutions.
Targus announced its new DOCK710 and DOCK720 docking stations at CES 2023, designed for work-from-anywhere flexibility. Both docks support up to four 4K displays or one 8K and two 4K displays through a single USB-C connection. The DOCK720 features a built-in fingerprint sensor for enhanced security, utilizing Synaptics' SentryPoint technology. Retail prices are set at $372.99 for DOCK710 and $442.99 for DOCK720. Both products promise productivity improvements while ensuring a secure workspace.
Synaptics (Nasdaq: SYNA) announced its participation in the 25th Annual Needham Growth Conference on January 10, 2023, at 10:30 AM PT. Michael Hurlston, President and CEO, will present at this event. Investors can view the live webcast or access the replay by visiting the provided link.
Synaptics is recognized for transforming user interactions with connected devices through advanced touch, display, and biometric technologies. The company collaborates with innovators in various fields to enhance digital experiences.
Synaptics (Nasdaq: SYNA) has announced that its Emza Visual Sense AI technology is deployed in Dell and Panasonic mobile PCs for enhanced Human Presence Detection (HPD). This technology uses ultra-low power ML algorithms to improve battery life and security, automatically managing system settings based on user presence. The laptops are available today. This partnership signifies a move toward context-aware computing in the tech industry, promising a user-friendly experience while safeguarding privacy.
Synaptics has unveiled the SYN4778, a cutting-edge Global Navigation Satellite Systems (GNSS) integrated circuit (IC) designed for IoT applications. This chip boasts 80% lower power consumption and is 30% smaller than its competitors, while achieving a 50% improvement in accuracy. The SYN4778 enhances battery life and performance of location-based services across various devices, including wearables and drones. Currently in sampling phase with select customers, it promises faster time to first fix and significant power savings for developers.
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