Welcome to our dedicated page for Synaptics news (Ticker: SYNA), a resource for investors and traders seeking the latest updates and insights on Synaptics stock.
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 two upcoming investor conferences. CFO Dean Butler will attend the Jefferies Semiconductors, IT Hardware & Communications Infrastructure Summit on August 30, 2022. President and CEO Michael Hurlston will participate in Citi’s 2022 Global Technology Conference on September 8, 2022. Synaptics is recognized for transforming user interactions with devices by integrating advanced technologies in touch, display, and biometrics, enhancing the connectivity and AI experience.
Synaptics (Nasdaq: SYNA) announced its participation in two upcoming investor conferences. On August 23, 2022, Satish Ganesan, SVP & Chief Strategy Officer, will present at the Rosenblatt 2nd Annual Technology Summit focused on AI scaling. A replay will be available online. Dean Butler, CFO, will participate in the Needham Virtual Semiconductor and SemiCap Conference on August 24, 2022. Synaptics is known for enhancing user experiences across various connected devices through advanced technologies in touch, display, and biometrics.
Synaptics Incorporated (Nasdaq: SYNA) reported a strong Q4 FY2022, with revenues of $476.4 million, highlighting an 87% year-over-year increase in IoT revenue. The company achieved record GAAP gross margin of 55.9% and record non-GAAP diluted earnings per share of $3.87. For FY2022, net revenue was $1.74 billion, up 30% from the previous year. Despite economic uncertainty, Synaptics plans to invest in its growth, particularly in the IoT sector, while anticipating a decline in its Mobile and PC products for Q1 FY2023.
Synaptics (Nasdaq: SYNA) announced its participation in key investor conferences. CEO Michael Hurlston will present at the KeyBanc Capital Markets’ Technology Leadership Forum on August 9, 2022, at 9:00 AM PT. A webcast of the presentation can be accessed here. Additionally, CFO Dean Butler will participate virtually in the Oppenheimer 25th Annual Technology, Internet & Communications Conference on the same date.
Synaptics is committed to enhancing human interaction with connected devices, focusing on innovative technologies in touch and AI-enhanced solutions.
Synaptics Incorporated (SYNA) will release its fourth-quarter financial results for fiscal 2022 on August 4, 2022. A conference call for analysts and investors will follow at 2:00 p.m. PT. Participants can join using the provided call-in number and conference ID. The event will also be accessible via a live and archived webcast on the company's Investor Relations website. This financial disclosure will likely include insights into the company's performance and outlook as it navigates its market position.
Synaptics (SYNA) co-founder Carver Mead has been awarded the prestigious 2022 Kyoto Prize in Advanced Technology. This accolade honors significant contributions to science and technology, alongside his fellow co-founder Federico Faggin, a previous laureate. Mead's work has greatly influenced VLSI design and computer-aided design technology, propelling advancements in the semiconductor industry. The Kyoto Prize is awarded by the Inamori Foundation, recognizing individuals who have improved humankind's scientific and cultural well-being. Synaptics continues to leverage these innovations for diverse applications, from IoT to automotive technologies.
Allegro DVT, a leader in video codec compliance test suites, announced that Synaptics (SYNA) has chosen its VVC test streams to ensure compliance with the new Versatile Video Coding (VVC) standard. This decision underscores Synaptics' commitment to maintaining product integrity in video applications following the VVC standard, which aims to enhance compression performance for various uses. Both companies emphasize the importance of robust testing to manage the complexities associated with new video codecs. This partnership is positioned to enhance user experiences across connected devices.
Synaptics (Nasdaq: SYNA) announced participation in the Nasdaq Investor Conference in London on June 14, 2022, at 9:30 AM BST. CFO Dean Butler will present at the event, highlighting the company's advancements in touch, display, and biometrics technologies that enhance user engagement with connected devices. Investors can view the conference webcast at https://edge.media-server.com/mmc/p/75ubdrx4. Synaptics continues to innovate in AI-enhanced video, vision, audio, and security, securing its position as a leader in creating productive digital experiences.
Synaptics (Nasdaq: SYNA) announced its participation in several upcoming investor conferences. CFO Dean Butler will speak at the J.P. Morgan 50th Annual Global Technology, Media and Communications Conference on May 23, 2022, at 11:30 AM PT, and at the Cowen 50th Annual Technology, Media & Telecom Conference on June 2, 2022, at 7:50 AM PT. Additionally, Butler will virtually participate in the 19th Annual Craig-Hallum Institutional Investor Conference on June 1, 2022. Webcasts and replays for these events will be available online.
FAQ
What is the current stock price of Synaptics (SYNA)?
What is the market cap of Synaptics (SYNA)?
What does Synaptics Inc. specialize in?
Where does Synaptics derive most of its revenue?
What was Synaptics' revenue for the first quarter of fiscal 2024?
What are Synaptics' recent financial results?
What are some of Synaptics' key product areas?
Who leads Synaptics?
What is the Astra™ platform?
What strategic partnerships has Synaptics engaged in?
How is Synaptics addressing inventory challenges?