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Synaptics
(NASDAQ:SYNA)
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Rating:54Neutral
Price Target:
$124.00
▲(29.57% Upside)
Action:Reiterated
Date:10/03/26
The score is held back primarily by weak financial performance—renewed revenue contraction and a large 2026 net loss—despite relatively resilient gross margins and positive operating cash flow. Technicals are supportive but overbought, limiting near-term risk/reward. The onsemi all-cash acquisition provides a meaningful positive event-driven backstop, while negative earnings (negative P/E) and no dividend data reduce valuation support.
Positive Factors
Resilient gross margins and cash generation
Stable gross margins indicate Synaptics continues to retain meaningful economics in its semiconductor products despite weak demand. Positive operating cash flow, including approximately $149M in 2026, provides internal funding capacity and improves resilience while the company works through earnings pressure.
Negative Factors
Renewed revenue contraction and severe losses
The renewed revenue decline signals that recent demand and product-cycle weakness have not been fully resolved. Negative EBIT and EBITDA, together with a roughly 41% net margin loss, show that current scale is insufficient to convert sales into sustainable earnings and limits internally funded investment.
Read all positive and negative factors
Positive Factors
Negative Factors
Resilient gross margins and cash generation
Stable gross margins indicate Synaptics continues to retain meaningful economics in its semiconductor products despite weak demand. Positive operating cash flow, including approximately $149M in 2026, provides internal funding capacity and improves resilience while the company works through earnings pressure.
Read all positive factors
Synaptics Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down revenue across different regions, revealing where the company is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Breaks down revenue across different regions, revealing where the company is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Data provided by:
The Fly
The FlySynaptics (SYNA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.66B
Dividend YieldN/A
Average Volume (3M)1.12M
Price to Earnings (P/E)―
Beta (1Y)2.16
Revenue Growth11.44%
EPS Growth-940.34%
CountryUS
Employees1,700
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)-12.62
Shares Outstanding39,701,385
10 Day Avg. Volume1,096,208
30 Day Avg. Volume1,115,944
Financial Highlights & Ratios
PEG Ratio-0.01
Price to Book (P/B)5.06
Price to Sales (P/S)3.93
P/FCF Ratio46.42
Enterprise Value/Market Cap1.10
Enterprise Value/Revenue4.28
Enterprise Value/Gross Profit9.58
Enterprise Value/Ebitda62.10
Forecast
1Y Price Target
$122.20Price Target Upside27.69% Upside
Rating ConsensusHold
Number of Analyst Covering6
EPS Forecast (FY)5.21
Revenue Forecast (FY)$1.29B
Synaptics Business Overview & Revenue Model
Company Description
Synaptics Incorporated, established in 1986 and headquartered in San Jose, California, is a global developer, marketer, and seller of semiconductor product solutions designed to enhance user experience and device functionality. The company's exten...
How the Company Makes Money
Synaptics primarily makes money by selling semiconductor products and related software/firmware as part of integrated solutions to device manufacturers. Revenue is predominantly recognized from product shipments (device sales) to OEMs/ODMs and dis...
Synaptics Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Nov 05, 2026
Earnings Call Sentiment Positive
Overall the call was constructive: Synaptics reported solid top-line growth (+10% YoY), strong margin expansion (non-GAAP gross margin ~53.6%, operating margin +260 bps YoY) and meaningful product and design momentum across Astra, robotics/physical AI and connectivity. Management provided a confident roadmap with key product milestones and a calendar 2027 ramp for Astra. Primary negatives were a notable decline in Mobile Touch (-16% YoY) tied to memory supply issues in China, some near-term demand uncertainty in PC/enterprise markets, and rising receivables and inventory days. On balance, the operational strength, product wins and guidance outweigh the headwinds.Positive Updates
Revenue Growth and Quarterly Results
Q3 revenue of $294.2 million, up 10% year-over-year and above the midpoint of guidance; sixth consecutive quarter of double-digit year-over-year revenue growth.
Negative Updates
Mobile Touch Revenue Decline
Mobile Touch revenue decreased 16% year-over-year and represented 13% of Q3 revenue; company cites memory supply constraints in China as a driver of near-term weakness in mobile touch shipments.
Read all updates
Q3-2026 Updates
Positive
Negative
Revenue Growth and Quarterly Results
Q3 revenue of $294.2 million, up 10% year-over-year and above the midpoint of guidance; sixth consecutive quarter of double-digit year-over-year revenue growth.
Read all positive updates
Company Guidance
For the fiscal Q4 (June) quarter Synaptics guided on a non‑GAAP basis to revenue of approximately $305.0 million at the midpoint (±$10M, implying $295M–$315M), with an expected product mix of ~33% Core IoT, ~54% Enterprise & Automotive and ~13% Mobile Touch; non‑GAAP gross margin of 53.5% at the midpoint (±1%, or roughly 52.5%–54.5%); non‑GAAP operating expenses of $105M at the midpoint (±$2M, or $103M–$107M); non‑GAAP net interest and other expense of ≈ $2M; a non‑GAAP tax rate of 13%–15%; and non‑GAAP diluted EPS of $1.20 at the midpoint (±$0.15, or $1.05–$1.35) on an estimated 40.4 million fully diluted shares (all non‑GAAP metrics reconciled to GAAP in the company’s release).Synaptics Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
51
Neutral
Cash Flow
60
Neutral
| Breakdown | Jun 2026 | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.20B | 1.07B | 959.40M | 1.36B | 1.74B |
| Gross Profit | 535.40M | 480.40M | 439.80M | 715.90M | 943.10M |
| EBITDA | 93.80M | 69.40M | 49.90M | 339.30M | 498.20M |
| Net Income | -490.80M | -47.80M | 125.60M | 73.60M | 257.50M |
Balance Sheet | |||||
| Total Assets | 2.10B | 2.58B | 2.83B | 2.61B | 2.86B |
| Cash, Cash Equivalents and Short-Term Investments | 442.50M | 452.50M | 876.90M | 934.30M | 876.00M |
| Total Debt | 837.30M | 880.20M | 1.07B | 1.03B | 1.04B |
| Total Liabilities | 1.17B | 1.19B | 1.36B | 1.37B | 1.59B |
| Stockholders Equity | 929.50M | 1.39B | 1.47B | 1.24B | 1.27B |
Cash Flow | |||||
| Free Cash Flow | 101.40M | 106.20M | -31.70M | 297.30M | 401.60M |
| Operating Cash Flow | 149.40M | 142.00M | 135.90M | 331.50M | 462.70M |
| Investing Cash Flow | 13.00M | -297.90M | -157.70M | -6.00M | -482.70M |
| Financing Cash Flow | -111.50M | -331.40M | -25.10M | -221.30M | 14.30M |
Synaptics Technical Analysis
Positive
95.70
Price Trends
104.70
Positive
112.67
Positive
102.16
Positive
Market Momentum
3.68
Positive
62.96
Neutral
14.58
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SYNA, the sentiment is Positive. The current price of 95.7 is below the 20-day moving average (MA) of 116.08, below the 50-day MA of 104.70, and below the 200-day MA of 102.16, indicating a bullish trend. The MACD of 3.68 indicates Positive momentum. The RSI at 62.96 is Neutral, neither overbought nor oversold. The STOCH value of 14.58 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SYNA.
Synaptics Risk Analysis
Synaptics disclosed 32 risk factors in its most recent earnings report. Synaptics reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Synaptics Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $5.66B | 13.37 | 20.35% | ― | 6.25% | 27.52% | |
76 Outperform | $191.78B | 20.46 | 37.33% | 2.02% | 1.87% | -16.70% | |
65 Neutral | $7.38B | -187.26 | -3.59% | ― | 21.71% | 63.22% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
54 Neutral | $4.66B | -9.30 | -38.70% | ― | 11.44% | -940.34% | |
49 Neutral | $1.96B | 57.91 | 3.94% | 2.19% | -7.60% | -52.67% |
* Technology Sector Average
SYNA
Synaptics
117.35
44.50
61.08%
CRUS
Cirrus Logic
113.00
-19.82
-14.92%
HIMX
Himax Technologies
11.50
2.10
22.33%
QCOM
Qualcomm
179.60
-4.25
-2.31%
SLAB
Silicon Laboratories
221.25
86.10
63.71%
Synaptics Corporate Events
Business Operations and StrategyM&A Transactions
Synaptics Reaffirms Amended All-Cash Acquisition by onsemi
Positive
Oct 1, 2026
On October 1, 2026, Synaptics and onsemi amended their June 25, 2026 merger agreement after Synaptics evaluated an unsolicited competing bid and ultimately reaffirmed onsemi as the preferred buyer. Under the revised terms, onsemi will acquire Syna...
Business Operations and StrategyExecutive/Board ChangesM&A Transactions
Synaptics CFO Resigns Amid Ongoing onsemi Merger Plans
Neutral
Aug 21, 2026
On August 20, 2026, Synaptics announced that Chief Financial Officer Ken Rizvi resigned with immediate effect to pursue another opportunity, though he will stay on in an advisory capacity until September 30 to support the handover. The company sai...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.