Welcome to our dedicated page for Synaptics news (Ticker: SYNA), a resource for investors and traders seeking the latest updates and insights on Synaptics stock.
Synaptics Incorporated develops semiconductor solutions for intelligent connected devices across IoT, PC, mobile and edge-AI markets. Company news commonly covers financial results, Core IoT product sales, design wins, and investor-conference activity, alongside updates to embedded compute, wireless connectivity and multimodal sensing products.
Recurring product developments include the Synaptics Astra AI-native embedded compute portfolio, Veros wireless connectivity, touch, display, biometrics, video, vision, audio, speech and security processing. Recent announcements also describe Edge AI boards, AI-native microcontrollers, Wi-Fi 7 connectivity, Bluetooth, Thread/Zigbee and on-device inference for smart home, industrial IoT, robotics, wearables and audio applications.
Valens Semiconductor (NYSE: VLN) and Good Way Technology have announced a new suite of products based on the Valens VS6320 chipset, compliant with the HDBaseT-USB3 standard. These products will support innovations in video conferencing and video walls, including the ability to extend four 4K streams or an 8K video wall over a single copper cable. The product suite will be demonstrated at COMPUTEX Taipei (June 4-7) and Infocomm (June 12-14). The VS6320 chipset, known for its high-performance USB 3.2 extension capabilities, is now available for mass production. The collaboration leverages Synaptics' DisplayLink technology, offering cost-effective and simplified solutions for hybrid conference rooms and video setups.
Synaptics announced the appointment of Ken Rizvi as its new Senior Vice President and Chief Financial Officer, effective July 15, 2024. Ken will report to CEO Michael Hurlston and oversee all aspects of Synaptics' global finance functions, including accounting, corporate development, and investor relations. He joins Synaptics from SMART Global Holdings, bringing over 20 years of experience in the semiconductor industry. Ken has previously served in senior financial roles at UTAC Holdings, Isola Group, Micron Technology, and ON Semiconductor. Michael Hurlston expressed confidence in Ken's ability to drive operational excellence and contribute to Synaptics' growth in IoT connectivity and processor solutions.
Synaptics (Nasdaq: SYNA) announced its participation in the 52nd Annual J.P. Morgan Global Technology, Media, and Communications Conference. The event will take place on Monday, May 20, 2024, at 6:20 AM PT. Michael Hurlston, President and CEO of Synaptics, will deliver the presentation. The webcast and replay will be available at the event's official website.
Synaptics Incorporated reported third-quarter fiscal 2024 results with a revenue of $237.3 million, GAAP gross margin of 46.5%, and non-GAAP gross margin of 52.9%. The company experienced a GAAP loss per share of $0.46 and non-GAAP diluted earnings per share of $0.53. Synaptics' Core IoT product area achieved significant milestones, with a successful launch of the Astra™ platform targeting a $20 billion plus market opportunity for embedded edge AI processors. The Core IoT revenue increased by 26% sequentially due to growth in the wireless product family. The company expects a modest increase in revenue for the fourth quarter of fiscal year 2024.
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