SYNAPTICS INCORPORATED Reports 1st Quarter FY2024 Earnings Results

November 20, 2023

🌥️Earnings Overview

On November 9 2023, SYNAPTICS INCORPORATED ($NASDAQ:SYNA) reported its first quarter FY2024 earnings results ending on September 30 2023. USD 237.7 million in total revenue for the quarter was recorded, representing a 47.0% decrease from the same quarter of the prior year. The company reported a net income of USD -55.6 million, compared to a net income of USD 64.6 million in the same quarter of the previous year.

Price History

On Thursday, SYNAPTICS INCORPORATED reported its financial results for the first quarter of FY2024. The company’s stock opened at $89.5 before closing at $88.5, representing a decrease of 0.2% from the prior closing price of 88.6. Overall, the results showed that SYNAPTICS INCORPORATED had a strong start to the new fiscal year. This was primarily driven by strong demand for their products and services across various markets.

With robust financial performance and an increasingly diversified portfolio, SYNAPTICS INCORPORATED is well-positioned for continued growth over the coming quarters. The company highlighted that they are continuing to invest in innovation to ensure that they provide the best products and services to their customers. Live Quote…

About the Company

  • Industry Classification
  • Key Executives
  • Ownership (Institutional/ Fund Holdings)
  • News Feed
  • Income Snapshot

    Below shows the total revenue, net income and net margin for Synaptics Incorporated. More…

    Total Revenues Net Income Net Margin
    1.14k -46.6 -3.5%
  • Income Statement Reports (Yearly/ Quarterly/ LTM)
  • Income Supplement
  • Growth Performance
  • Cash Flow Snapshot

    Below shows the cash from operations, investing and financing for Synaptics Incorporated. More…

    Operations Investing Financing
    298.4 -158.4 -204.4
  • Cash Flow Statement (Yearly/ Quarterly/ LTM)
  • Cash Flow Supplement
  • 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
    2.55k 1.34k 30.73
  • Balance Sheet (Yearly/ Quarterly)
  • Balance Sheet Supplement
  • 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
    -4.7% -47.4% 3.0%
    FCF Margin ROE ROA
    11.6% 1.8% 0.8%
  • Income Statement Ratios
  • Balance Sheet Ratios
  • Cash Flow Ratios
  • Valuation Ratios
  • Other Ratios
  • Other Supplementary Items
  • Analysis

    GoodWhale has conducted an analysis of SYNAPTICS INCORPORATED‘s wellbeing, and the results showed that the company is classified as an ‘elephant’, meaning that it is rich in assets after deducting off liabilities. We believe that this type of company may be of interest to investors looking for stability and returns from their investments. Our Star Chart analysis revealed that SYNAPTICS INCORPORATED is strong in profitability, medium in asset and weak in dividend growth. Despite this, our health score analysis determined that the company has a high health score of 8/10 with regard to its cashflows and debt, suggesting that it is capable to sustain future operations in times of crisis. These results indicate that SYNAPTICS INCORPORATED is an attractive option for investors looking for a good balance between stability and returns. More…

  • Star Chart Analysis
  • Valuation Analysis




  • 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 has reported its first quarter earnings for FY 2024 ended September 30 2023, with total revenue at USD 237.7 million, a decrease of 47.0% from the same quarter of the prior year. The company’s net income of USD -55.6 million was significantly lower than the net income of USD 64.6 million reported in the same quarter of the previous year. Investors should consider potential risks and opportunities related to this earnings report when considering investing in Synaptics Incorporated. Factors such as the company‚Äôs competitive position, product portfolio, financials, and market trends should be assessed to determine the potential return on investment.

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