Tue, Nov. 8, 1:13 PM
- Precise Biometrics (OTCPK:PRBCF) and Samsung Electronics (OTC:SSNLF) entered a partnership in which the former will provide fingerprint software for Samsung's sensor solutions. The development has in turn led to concern Synaptics may lose business from Samsung because of it.
- Cowen and Company's Robert Stone, however, isn't moving on a $75 target (current price $51.84) and Outperform rating for Synaptics on the news. Notes Samsung has utilized a combination of hardware algorithms in the past and that software generally comprises a comparably small piece of overall value. Additionally sees Samsung developing an under-glass design for the forthcoming Galaxy S8 and believes a tight hardware, software integration will be necessary. Assumes Synaptics would remain involved in sensor and software supply should that be the case.
- Syanptics (NASDAQ:SYNA) shares had fallen nearly 10% earlier in the day, though have reversed 5.86% upward intraday since that point.
Fri, Oct. 28, 3:01 PM
Fri, Oct. 28, 12:47 PM
Thu, Oct. 27, 4:18 PM
Wed, Oct. 26, 5:35 PM
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Fri, Sep. 23, 3:22 PM
- The companies, Lenovo (OTCPK:LNVGY -0.7%), (INTC -0.7%), (PYPL -0.8%) and (SYNA -1.5%) are collaborating to bring FIDO-enabled biometric authentication to Lenovo laptops.
- A goal of moving beyond passwords to reduce fraud and heighten security is noted.
- Intel's 7th generation processors, Synaptics' sensors and PayPal's payment ecosystem will merge to offer built-in hardware security just as Yahoo's substantial security breach refocuses attention on the importance of digital defense.
- Press release
Thu, Aug. 25, 5:33 PM
Mon, Aug. 1, 1:21 PM
- Needham & Company analyst Rajvindra Gill restated a Buy rating on Synaptics (SYNA +6.5%) last Friday, though reduced his price target to $65 down from $88 (current price $55.48).
- He feels the company's OLED display driver integrated circuit product roadmap is solid but is uncertain regarding whether or not Synaptics will secure a win from Apple to supply components for next year's rumored iPhone 8.
- Gill sees Synaptics on track to realize commercial OLED production sometime next year, an element positioned to see increased smartphone-maker demand going forward.
- He slightly raised his FY 17 revenue estimate to $1.635B and EPS estimate to $5.55.
- Synaptics is up around 8% since last Friday, a day after reporting Q4 and FY 16 resutls.
Thu, Jul. 28, 4:19 PM
Wed, Jul. 27, 5:35 PM
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Fri, Jun. 17, 3:00 PM
Fri, Jun. 17, 12:47 PM
Fri, Jun. 17, 11:00 AM
- Synaptics (SYNA -9.8%) has carried out layoffs impacting 160 employees, or 9% of its workforce. It's also implementing a "space consolidation program" at certain locations. (8-K filing)
- The company expects $10M-$11M in charges related to the layoffs, and $3M-$4M in charges related to the office closings. CEO Rick Bergman is temporarily cutting his base salary by 20%, and various other execs by 10%.
- The moves come less than two months after Synaptics, stung by weak iPhone and PC sales, tumbled due to an FQ3 miss and weak FQ4 guidance. The company was recently reported to no longer be in buyout talks with a Chinese investor group.
Tue, Jun. 7, 2:34 PM
- Bloomberg reports Synaptics (SYNA -1.4%) is no longer in active buyout talks with the Chinese group that was previously reported to have discussed a $110/share deal.
- The April selloff seen after Synaptics missed FQ3 estimates and offered weak FQ4 guidance reportedly "caused the two sides to take a break from deal talks due to differences in perceived valuation." Talks could potentially restart after Synaptics' FQ4 report.
- Synaptics currently trades slightly above $65, and is valued at just 12x an FY17 (ends June '17) EPS consensus of $5.26.
Fri, Apr. 29, 9:12 AM
- Gainers: PRGN +75%. GNW +16%. P +13%. AMZN +12%. SDRL +11%. EXPE +11%. MNST +11%. ROVI +10%. SNMX +9%. LNKD +7%. CRC +7%. DNR+7%. DRYS +7%. TIVO +6%. LGCY +6%. SHPG +5%. GPL +5%.
- Losers: BIOC -22%. GLNG -17%. EPAY -17%. MOH -15%. SRCL -15%. IMGN -14%. SYNA -11%. AKS -8%. HCLP -8%. ALR -6%. GILD -6%. RXDX -6%.
Thu, Apr. 28, 6:23 PM
- Synaptics' (NASDAQ:SYNA) FQ3 miss is accompanied by FQ4 sales guidance of $300M-$340M, far below a $478.6M consensus.
- Meanwhile, the company hasn't announced any kind of M&A transaction with its results. Bloomberg reported on April 14 Synaptics remains in talks with a Chinese group regarding a $110/share deal, and is hoping to make an announcement with its FQ3 report. The news service followed up today by reporting talks are ongoing, and that Synaptics "may accept a lower offer." The Chinese group's potential bid has reportedly dropped to $100/share.
- CEO Rick Bergman: "Our [FQ3] results were impacted by significant reductions in demand within the high-end smartphone market in March, particularly for our display driver solutions, in addition to weakness in the PC market. Given the magnitude of the demand reductions we saw late in [FQ3], the current macro environment and existing supply chain inventory, we have taken a cautious approach to [FQ4] guidance, in anticipation that the level of product currently in the supply chain will be sufficient to meet the reduced demand for our display driver products from high-end smartphone OEMs." That last part is almost certainly a reference to major LCD driver IC client Apple, which issued soft guidance on Tuesday.
- Mobile revenue (touch controllers, LCD drivers, fingerprint sensors) fell 15% Y/Y to $354.2M. PC revenue (touchpads, fingerprint sensors) fell 20% to $48.3M. Gross margin rose 130 bps Y/Y to 39.2%. Synaptics ended FQ3 with $406M in cash and $235M in debt.
- SYNA -11.8% after hours to $71.50. Shares fell 5.6% in regular trading ahead of earnings, thanks in part to Bloomberg's report.
- Synaptics' FQ1 results, earnings release