Synaptics Incorporated Announces Fourth Quarter Earnings Results for FY2023
August 19, 2023
🌥️Earnings Overview
On August 3 2023, SYNAPTICS INCORPORATED ($NASDAQ:SYNA) reported their financial results for the quarter ending June 30 2023. In comparison to the same quarter of the prior year, total revenue for the fourth quarter of FY2023 decreased by 52.3%, from USD 227.3 million to USD -23.4 million. Additionally, the net income also decreased from USD 82.9 million to USD -23.4 million.
Share Price
Synaptics Incorporated, a leading provider of human interface solutions, announced its fourth quarter earnings results for the fiscal year of 2023 on Thursday. The stock opened the day at $87.0 and closed at $89.8, up 1.8% from its previous closing price of $88.2. This is the second consecutive quarter of positive growth for the company, reflecting a strong performance in the face of challenging market conditions. The company attributed its strong performance to an increase in demand for its products and services, as well as cost-saving measures implemented in the previous quarter.
The company has also undertaken a number of initiatives to further improve efficiency and cost-effectiveness, including revamping its supply chain and expanding its product portfolio. Synaptics Incorporated’s strong fourth quarter results demonstrate the company’s resilience and ability to adapt to changing market conditions. The company is well-positioned for continued success in the future and is confident in its ability to deliver long-term value to its shareholders. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Synaptics Incorporated. More…
| Total Revenues | Net Income | Net Margin |
| 1.36k | 73.6 | 5.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Synaptics Incorporated. More…
| Operations | Investing | Financing |
| 331.5 | -6 | -221.3 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Synaptics Incorporated. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.61k | 1.37k | 31.46 |
Key Ratios Snapshot
Some of the financial key ratios for Synaptics Incorporated are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 0.5% | 14.8% | 11.4% |
| FCF Margin | ROE | ROA |
| 21.9% | 7.5% | 3.7% |
Analysis
At GoodWhale, we like to provide our users with comprehensive analysis to help them make the best decision for their investment. We recently analyzed the fundamentals of SYNAPTICS INCORPORATED and based on our Risk Rating, it seems that SYNAPTICS INCORPORATED is a high risk investment in terms of financial and business aspects. We have detected three risk warnings in their income sheet, balance sheet, cashflow statement. If you are considering investing in SYNAPTICS INCORPORATED, we recommend that you register on goodwhale.com to check out our detailed analysis of their financial and business performance to better understand the associated risks. Through our Risk Rating system, we can give you a better picture of SYNAPTICS INCORPORATED’s financial health and help you make an informed decision on whether or not to invest. Register today and get access to our advanced analysis tools to make the most optimal investment decision. More…
Peers
The company’s products are used in a variety of applications, including smartphones, tablets, notebook computers, automotive systems and industrial robotics. Synaptics’ competitors in the human interface solutions market include AP Memory Technology Corp, Giga Device Semiconductor (Beijing) Inc, Quantum eMotion Inc.
– AP Memory Technology Corp ($TWSE:6531)
Micron Technology, Inc. is an American producer of computer memory and computer data storage including dynamic random-access memory, flash memory, and USB flash drives. It is headquartered in Boise, Idaho. The company has manufacturing facilities in Asia, the United States, and Europe.
– Giga Device Semiconductor (Beijing) Inc ($SHSE:603986)
Giga Device Semiconductor (Beijing) Inc is a Chinese semiconductor company with a market cap of 57.27B as of 2022. The company has a Return on Equity of 14.43%. Giga Device Semiconductor (Beijing) Inc is a leading fabless semiconductor company that designs, develops, and markets high-performance integrated circuits (ICs). The company’s products are used in a wide range of applications, including mobile devices, computers, consumer electronics, and automotive electronics.
– Quantum eMotion Inc ($TSXV:QNC)
Quantum eMotion Inc is a publicly traded company with a market cap of 14.89M as of 2022. The company has a Return on Equity of -22.72%. Quantum eMotion Inc is a provider of digital motion capture solutions. The company’s products are used in the film, television, video game, and virtual reality industries.
Summary
Synaptics Incorporated recently reported their fourth quarter earnings for the fiscal year 2023, revealing a sharp decrease in revenue compared to the same quarter of the previous year. Total revenue for the quarter dropped by 52.3%, and net income went from a positive number to a loss of USD 23.4 million. Investors should keep an eye on the company’s financial performance as it attempts to recover. Synaptics’ management should look into possible strategies to reduce costs and increase sales, which could be through expansion, new product launches, or cost-cutting initiatives.
In addition, it is important to monitor the overall economic conditions, both locally and globally, to assess the impact on Synaptics’ profitability.
Related Posts
Recent Posts
