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Synaptics Incorporated (SYNA)

  • Dec. 2, 2014, 12:33 PM
    • Atmel (ATML +2%) and Synaptics (SYNA +2.8%) are seeing healthy gains after touch controller rival Cypress announced it's merging with NOR flash vendor Spansion, the latest in a series of big M&A deals to hit the semi industry. Cypress and Spansion have both soared.
    • Atmel also squares off against Cypress in other microcontroller markets. Synaptics, which has been gaining touch controller share, recently closed a $465M deal to buy LCD driver IC vendor Renesas SP Drivers.
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  • Oct. 24, 2014, 12:48 PM
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  • Oct. 24, 2014, 9:15 AM
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  • Oct. 23, 2014, 5:42 PM
    • Top gainers, as of 5:15 p.m.: VTAE +27.2%. RUBI +22.2%. KLAC +16.9%. GIMO +14.6%. MXWL +13.9%.
    • Top losers, as of 5:15 p.m.: AMZN -12.6%. UFCS -8.5%. SYNA -7.9%. P -5.8%. ABG -5.4%.
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  • Oct. 23, 2014, 5:21 PM
    • Synaptics (NASDAQ:SYNA) expects FQ2 revenue of $415M-$450M vs. a consensus of $435.80M
    • SYNA -7.9% AH.
    • FQ1 results, PR
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  • Oct. 23, 2014, 4:16 PM
    • Synaptics (NASDAQ:SYNA): FQ1 EPS of $1.04 misses by $0.15.
    • Revenue of $282.7M (+27.0% Y/Y) misses by $5.68M.
    • Shares -7.3%.
    • Press Release
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  • Oct. 14, 2014, 2:47 PM
    • Qualcomm (QCOM +2.4%), NXP (NXPI +5.8%), Synaptics (SYNA +3.1%), and Himax (HIMX +3.5%) are among the mobile chipmakers outperforming after Skyworks hiked its calendar Q3 guidance.
    • Like Skyworks, Qualcomm, NXP, and (via the Renesas SP deal) Synaptics are iPhone suppliers. Recent reports have pointed to strong iPhone 6 build activity and Chinese pre-orders.
    • Like many other chipmakers, the group sold off after Microchip (has relatively low mobile exposure, but a diversified customer base otherwise) issued a calendar Q3 warning, and stated it believes an industry correction has begun. Intel reports after the close.
  • Oct. 10, 2014, 9:59 AM
    • Microchip's (MCHP -12.5%) calendar Q3 warning, which was accompanied by a declaration that it believes "another industry correction has begun and that this correction will be seen more broadly across the industry in the near future," is taking a heavy toll on chip stocks (SOXX -5.5%).
    • Intel (INTC -4.2%) and many other chipmakers have joined the several firms that sold off AH yesterday in going in the same direction as Microchip: MU -5.8%. FSL -8.5%. BRCM -3.6%. SWKS -7.5%. RFMD -6.2%. XLNX -4.9%. MXIM -5%. AMBA -5.5%. IDTI -6.7%. CAVM -7.4%. AVGO -10.2%. SMTC -4.3%. SYNA -4.1%. POWI -6.9%.
    • Chip equipment makers are also getting hit: AMAT -3.5%. KLAC -3.3%. LRCX -2.3%. UTEK -2.5%. KLIC -2%.
    • As Microchip noted in yesterday's warning, the company's very diversified customer base, together with its recognition of distributor revenue on a customer sell-through basis rather than a distributor sell-in basis, often allow it to see industry changes before peers.
    • The microcontroller vendor added its warning was driven by a September decline in sales to Chinese clients, and observed it has typically "returned to sequential revenue growth after two quarters" during past downturns.
    • Chip stocks have had a good run over the last 12 months, aided by healthy mobile demand and the industry's consolidation wave.
  • Oct. 1, 2014, 11:30 AM
    • Synaptics (SYNA +3.1%) has officially closed its acquisition of leading high-end LCD driver supplier Renesas SP Drivers. Thanks to the yen's decline, the deal's price is now $465M (down from a prior $475M). The timing of the close means a full quarter of Renesas SP's results will be included in Synaptics' Dec. quarter numbers.
    • The company also states it has taken out a $150M credit facility, and a $150M term loan facility. Proceeds will be used to both pay for the Renesas deal, and for other purposes.
    • Shares are higher on a down day for equities. Synaptics blasted off after announcing in June it's buying Renesas SP (the LCD driver supplier for the iPhone) for less than just 0.8x trailing sales.
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  • Sep. 2, 2014, 10:18 AM
    • "The Street's average price target is around $100 ... I think there's potential for more, depending on how fast the adoption of fingerprint technology goes," analyst Steve Jue is quoted as saying in a bullish weekend Barron's column on Synaptics (SYNA +5.2%).
    • The paper observes sales of Synaptics' fingerprint sensor modules (obtained through the Validity Sensors acquisition) have grown much faster than expected with the help of a Galaxy S5 design win, and now make up 22% of revenue (the Renesas SP deal could lead that figure to drop some).
    • With Android OEMs hungry to counter Apple's integration of a proprietary fingerprint sensor module within iDevices, Synaptics expects industry fingerprint sensor sales soaring to 530M in 2016 from a mere 30M in 2013.
    • Barron's also observes Synaptics respectively has 40% and 65% of the touch controller and notebook touchpad markets, and notes shares (going into today, anyway) trade for only 13x forward EPS (exc. cash).
    • Shares now +67% YTD. Touch controller rival Atmel (ATML +1.2%) is also higher.
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  • Jul. 31, 2014, 6:40 PM
    • Synaptics (NASDAQ:SYNA) expects FQ1 revenue of $275M-$295M, below a $296M consensus. The company notes it's seeing "strong but moderating" smartphone market growth to go with "signs of stability in the PC market."
    • However, a soft outlook was expected on account of top customer Samsung's challenges - fellow Samsung supplier Audience has it much worse - and a reported Note 4 touch controller design loss to STMicroelectronics.
    • Moreover, Synaptics says it's confident it can deliver FY15 (ends June '15) revenue growth "in the mid-20% range," not counting the impact of the Renesas SP deal. Consensus is for 25.2% growth.
    • $110M has been added to Synaptics' buyback authorization, raising its size to $200M. ~5% of outstanding shares were repurchased in FY14.
    • Strong demand from Chinese OEMs (taking share from Samsung) boosted FQ4 sales. Mobile revenue (77% of total) rose 40% Y/Y thanks to both touch controller and fingerprint sensor demand, and PC revenue (23% of total) rose 26% to $72M.
    • FQ4 results, PR
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  • Jul. 31, 2014, 4:32 PM
    • Synaptics (NASDAQ:SYNA): FQ4 EPS of $1.46 beats by $0.05.
    • Revenue of $314.9M (+36.8% Y/Y) beats by $9.83M.
    • Shares +3.8%.
    • Press Release
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  • Jul. 15, 2014, 10:17 AM
    • OTR Global reports Synaptics (SYNA -5%) has lost the touchscreen controller slot for Samsung's upcoming Galaxy Note 4 to STMicroelectronics (STM -0.6%).
    • Synapitcs has the touch controller slot for the Note 3, and both the touch controller and fingerprint sensor slots for the Galaxy S5. High-volume Samsung design wins have contributed heavily to the company's strong mobile growth over the last two years.
  • Jun. 11, 2014, 12:47 PM
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  • Jun. 11, 2014, 9:13 AM
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  • Jun. 10, 2014, 4:40 PM
    • Synaptics (SYNA) has blasted off to new all-time highs after announcing it's buying Renesas' LCD driver IC unit and upping its FQ4 guidance.
    • Shares now +51% YTD.
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Company Description
Synaptics Inc is a developer and supplier of custom-designed human interface solutions that enable people to interact easily and intuitively with mobile computing, communications, entertainment, and other electronic devices.
Sector: Technology
Country: United States