Synaptics Inc Stock Price, News & Analysis

Synaptics has launched an Edge AI evaluation kit (EVK) based on its low-power Katana SoC, facilitating the development of AI applications for IoT. This kit integrates multiple sensors and connectivity options for smart home, industrial, and monitoring applications. The Edge AI hardware market is anticipated to reach $38.9 billion by 2030, growing at a CAGR of nearly 19%. Synaptics aims to streamline application development by offering a complete platform, including technical support.

Synaptics has established a new wireless research and development center in Sophia Antipolis, France, aimed at enhancing Wi-Fi and Bluetooth technology for the Internet of Things (IoT). This facility will bolster Synaptics' European presence and support their expansion into the high-growth IoT sector, which now represents their largest revenue stream. The CEO emphasized the strategic importance of this location, while the center is expected to accelerate innovation in wireless connectivity solutions. The acquisition of Broadcom’s Wireless IoT Business and DSP Group has previously strengthened their market position.

Synaptics (SYNA) reported Q2 FY2022 revenues of $420.5 million, with a year-over-year IoT revenue increase of 60%. The company achieved a record GAAP gross margin of 53.5% and a record non-GAAP gross margin of 59.5%. GAAP diluted EPS was $1.71, while non-GAAP diluted EPS reached $3.26. Looking ahead, Synaptics expects Q3 revenues between $450 million and $480 million, with a non-GAAP gross margin target of 60% amidst ongoing supply chain challenges.

Synaptics (Nasdaq: SYNA) launched the SYN4381 Triple Combo system on chip, integrating Wi-Fi 6/6E, Bluetooth 5.2, and IEEE 802.15.4 with Thread support. This SoC enhances product development by streamlining interoperability across devices, targeting the growing IoT market projected to reach 27 billion devices by 2025. The SYN4381 delivers a data rate of 600 Mbps and aims to simplify smart home device integration, facilitating seamless user experiences. The product is currently in the sampling phase, with market launches anticipated by the end of 2022.

Synaptics (SYNA) recently unveiled the Gemini reference design, marking the world’s first true Wi-Fi 6/6E wireless docking experience for notebook users. This innovative design ensures secure connections via dual-4K display support and ultra-low latency, indistinguishable from wired connections. Demonstrated at CES 2022, Gemini is aimed at enhancing productivity for hybrid work environments and extends its applicability to tablets, gaming, and VR. The reference design is available now, emphasizing Synaptics' commitment to transforming connectivity in a digital-centric world.

Synaptics (SYNA) announced it will report its financial results for Q2 fiscal 2022 on February 3, 2022, after market closure. The company will also host a conference call at 2:00 p.m. PT (5:00 p.m. ET) to discuss the results and offer forward-looking insights. Analysts and investors can join the call by dialing 1-833-614-1539 (conference ID: 4099047) and will have access to a live and archived webcast on Synaptics' investor relations page. A telephonic replay will be available until February 10, 2022.

Synaptics (NASDAQ: SYNA) has appointed Vivie “YY” Lee to its Board of Directors, effective January 10, 2022. Ms. Lee possesses extensive experience in executive leadership within the technology sector, having held significant roles at companies like Anaplan and Cadence Systems. She is currently an independent director and consultant and has a mathematics background, enriching her strategic insights. Nelson Chan, Chairperson of the Board, welcomed her, stating her diverse skillset and board experience will be invaluable to Synaptics.