Synaptics (SYNA)
Market Price (4/25/2026): $95.87 | Market Cap: $3.7 BilSector: Information Technology | Industry: Semiconductors
Synaptics (SYNA)
Market Price (4/25/2026): $95.87Market Cap: $3.7 BilSector: Information TechnologyIndustry: Semiconductors
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 17%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 13% Low stock price volatilityVol 12M is 46% Megatrend and thematic driversMegatrends include Artificial Intelligence, Electric Vehicles & Autonomous Driving, and Smart Buildings & Proptech. Themes include Edge AI, Show more. | Trading close to highsDist 52W High is 0.0% Weak multi-year price returns2Y Excs Rtn is -28%, 3Y Excs Rtn is -78% Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 13% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -70 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -6.2% Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -9.9% Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 11% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -5.9% Key risksSYNA key risks include [1] operational disruptions due to its workforce in Israel, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 17%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 13% |
| Low stock price volatilityVol 12M is 46% |
| Megatrend and thematic driversMegatrends include Artificial Intelligence, Electric Vehicles & Autonomous Driving, and Smart Buildings & Proptech. Themes include Edge AI, Show more. |
| Trading close to highsDist 52W High is 0.0% |
| Weak multi-year price returns2Y Excs Rtn is -28%, 3Y Excs Rtn is -78% |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 13% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -70 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -6.2% |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -9.9% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 11% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -5.9% |
| Key risksSYNA key risks include [1] operational disruptions due to its workforce in Israel, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Synaptics (SYNA) stock has gained about 25% since 12/31/2025 because of the following key factors:
1. Strong Financial Performance Driven by IoT Growth. Synaptics reported robust financial results, particularly within its Core IoT segment. For the first quarter of fiscal 2026 (reported November 6, 2025), the company achieved $292.5 million in revenue, marking a 14% year-over-year increase, with Core IoT product sales surging by 74% year-over-year. This momentum continued into the second quarter of fiscal 2026 (reported February 5, 2026), where Synaptics surpassed analyst expectations with earnings per share (EPS) of $1.21, exceeding the consensus estimate of $1.15, and revenue of $302.5 million, above the projected $300.31 million.
2. Strategic Focus and Innovation in Edge AI and IoT. Synaptics has reinforced its strategic pivot towards high-growth Edge AI and Internet of Things (IoT) applications through significant product launches and emphasis on its AI-native platforms. Key developments include the launch of its next-generation Astra multimodal GenAI processors, with general availability planned for calendar Q2 2026, and the introduction of the SYN765x, an industry-leading AI-native Wi-Fi 7 solution for integrated IoT Edge Applications in March 2026. This focus positions the company to capitalize on increasing demand for intelligent, connected devices across various markets.
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1. Strong Financial Performance Driven by IoT Growth. Synaptics reported robust financial results, particularly within its Core IoT segment. For the first quarter of fiscal 2026 (reported November 6, 2025), the company achieved $292.5 million in revenue, marking a 14% year-over-year increase, with Core IoT product sales surging by 74% year-over-year. This momentum continued into the second quarter of fiscal 2026 (reported February 5, 2026), where Synaptics surpassed analyst expectations with earnings per share (EPS) of $1.21, exceeding the consensus estimate of $1.15, and revenue of $302.5 million, above the projected $300.31 million.
2. Strategic Focus and Innovation in Edge AI and IoT. Synaptics has reinforced its strategic pivot towards high-growth Edge AI and Internet of Things (IoT) applications through significant product launches and emphasis on its AI-native platforms. Key developments include the launch of its next-generation Astra multimodal GenAI processors, with general availability planned for calendar Q2 2026, and the introduction of the SYN765x, an industry-leading AI-native Wi-Fi 7 solution for integrated IoT Edge Applications in March 2026. This focus positions the company to capitalize on increasing demand for intelligent, connected devices across various markets.
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Stock Movement Drivers
Fundamental Drivers
The 26.8% change in SYNA stock from 12/31/2025 to 4/24/2026 was primarily driven by a 23.2% change in the company's P/S Multiple.| (LTM values as of) | 12312025 | 4242026 | Change |
|---|---|---|---|
| Stock Price ($) | 74.02 | 93.86 | 26.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,109 | 1,144 | 3.2% |
| P/S Multiple | 2.6 | 3.2 | 23.2% |
| Shares Outstanding (Mil) | 39 | 39 | -0.3% |
| Cumulative Contribution | 26.8% |
Market Drivers
12/31/2025 to 4/24/2026| Return | Correlation | |
|---|---|---|
| SYNA | 26.8% | |
| Market (SPY) | 4.2% | 48.6% |
| Sector (XLK) | 11.3% | 46.7% |
Fundamental Drivers
The 37.3% change in SYNA stock from 9/30/2025 to 4/24/2026 was primarily driven by a 29.6% change in the company's P/S Multiple.| (LTM values as of) | 9302025 | 4242026 | Change |
|---|---|---|---|
| Stock Price ($) | 68.34 | 93.86 | 37.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,074 | 1,144 | 6.5% |
| P/S Multiple | 2.5 | 3.2 | 29.6% |
| Shares Outstanding (Mil) | 39 | 39 | -0.5% |
| Cumulative Contribution | 37.3% |
Market Drivers
9/30/2025 to 4/24/2026| Return | Correlation | |
|---|---|---|
| SYNA | 37.3% | |
| Market (SPY) | 7.0% | 57.3% |
| Sector (XLK) | 13.9% | 53.9% |
Fundamental Drivers
The 47.3% change in SYNA stock from 3/31/2025 to 4/24/2026 was primarily driven by a 27.3% change in the company's P/S Multiple.| (LTM values as of) | 3312025 | 4242026 | Change |
|---|---|---|---|
| Stock Price ($) | 63.72 | 93.86 | 47.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,010 | 1,144 | 13.4% |
| P/S Multiple | 2.5 | 3.2 | 27.3% |
| Shares Outstanding (Mil) | 40 | 39 | 2.1% |
| Cumulative Contribution | 47.3% |
Market Drivers
3/31/2025 to 4/24/2026| Return | Correlation | |
|---|---|---|
| SYNA | 47.3% | |
| Market (SPY) | 28.1% | 73.6% |
| Sector (XLK) | 55.9% | 70.6% |
Fundamental Drivers
The -15.6% change in SYNA stock from 3/31/2023 to 4/24/2026 was primarily driven by a -34.5% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 3312023 | 4242026 | Change |
|---|---|---|---|
| Stock Price ($) | 111.15 | 93.86 | -15.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,748 | 1,144 | -34.5% |
| P/S Multiple | 2.5 | 3.2 | 26.0% |
| Shares Outstanding (Mil) | 40 | 39 | 2.3% |
| Cumulative Contribution | -15.6% |
Market Drivers
3/31/2023 to 4/24/2026| Return | Correlation | |
|---|---|---|
| SYNA | -15.6% | |
| Market (SPY) | 79.8% | 62.2% |
| Sector (XLK) | 116.4% | 59.9% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| SYNA Return | 200% | -67% | 20% | -33% | -3% | 15% | -12% |
| Peers Return | 53% | -26% | 29% | -13% | 5% | 36% | 82% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 4% | 89% |
Monthly Win Rates [3] | |||||||
| SYNA Win Rate | 75% | 25% | 42% | 17% | 50% | 50% | |
| Peers Win Rate | 65% | 33% | 58% | 33% | 47% | 65% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| SYNA Max Drawdown | 0% | -71% | -23% | -40% | -44% | -12% | |
| Peers Max Drawdown | -5% | -38% | -10% | -22% | -32% | -9% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: NXPI, SLAB, QCOM, MCHP, ON. See SYNA Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 4/24/2026 (YTD)
How Low Can It Go
| Event | SYNA | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -74.9% | -25.4% |
| % Gain to Breakeven | 298.2% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -43.7% | -33.9% |
| % Gain to Breakeven | 77.7% | 51.3% |
| Time to Breakeven | 139 days | 148 days |
| 2018 Correction | ||
| % Loss | -58.8% | -19.8% |
| % Gain to Breakeven | 142.9% | 24.7% |
| Time to Breakeven | 199 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -64.4% | -56.8% |
| % Gain to Breakeven | 181.1% | 131.3% |
| Time to Breakeven | 168 days | 1,480 days |
Compare to NXPI, SLAB, QCOM, MCHP, ON
In The Past
Synaptics's stock fell -74.9% during the 2022 Inflation Shock from a high on 12/7/2021. A -74.9% loss requires a 298.2% gain to breakeven.
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About Synaptics (SYNA)
Synaptics Incorporated develops and supplies semiconductor products and solutions worldwide. The company offers AudioSmart for voice and audio processing; ConnectSmart for high-speed video/audio/data connectivity; DisplayLink for transmitting compressed video frames across low bandwidth connections; VideoSmart that enables set-top boxes or over-the-top, streaming devices, soundbars, surveillance cameras, and smart displays; and ImagingSmart solutions. It also provides Natural ID, a fingerprint ID product that is used in automobiles, notebook personal computers (PCs), PC peripherals, and other applications; TouchPad, a touch-sensitive pad that senses the position and movement of one or more fingers on its surface; SecurePad that integrates fingerprint sensor directly into the TouchPad area; ClickPad that offers a clickable mechanical design; and ForcePad. In addition, the company offers ClearPad, which enables users to interact directly with the display on mobile smartphones, tablets, and automobiles; ClearView products that provide advanced image processing and low power technology for displays on smartphones and tablets; and TouchView products, a touch controller and display driver integration product. Further, it provides TouchPad with a pointing stick in a single notebook computer enabling users to select their interface of choice; TouchStyk, a self-contained pointing stick module; ultra-low power edge artificial intelligence platform for battery powered wireless devices; and wireless connectivity solutions comprising Wi-Fi, Bluetooth, global positioning system, and global navigation satellite system. The company sells its products through direct sales, outside sales representatives, distributors, and resellers to mobile and PC OEMs; IoT OEMs; and consumer electronics manufacturers. The company was incorporated in 1986 and is headquartered in San Jose, California.
AI Analysis | Feedback
Synaptics is like a specialized Qualcomm that provides the essential 'senses' (touch, fingerprint) and core connectivity (audio, video, wireless) for smart devices.
Think of Synaptics as the 'Intel Inside' for how you interact with your laptops and smart devices (via touch and fingerprints) and how they process and connect audio, video, and wireless data.
AI Analysis | Feedback
Major products of Synaptics (SYNA):
- AudioSmart: Semiconductor products designed for advanced voice and audio processing.
- ConnectSmart: Solutions enabling high-speed video, audio, and data connectivity.
- DisplayLink: Technology for transmitting compressed video frames across low bandwidth connections.
- VideoSmart: Solutions that power set-top boxes, streaming devices, soundbars, and smart displays.
- ImagingSmart: Solutions for various imaging applications.
- Natural ID: Fingerprint ID products used in automobiles, PCs, and other applications.
- TouchPad: Touch-sensitive pads that detect the position and movement of fingers.
- SecurePad: TouchPads that integrate a fingerprint sensor directly into their surface.
- ClickPad: TouchPads featuring a clickable mechanical design.
- ForcePad: A specialized type of TouchPad.
- ClearPad: Products enabling direct user interaction with displays on smartphones, tablets, and automobiles.
- ClearView: Products providing advanced image processing and low-power technology for displays.
- TouchView: Integrated touch controller and display driver products.
- TouchStyk: A self-contained pointing stick module, often used in notebook computers.
- Ultra-low Power Edge AI Platform: An artificial intelligence platform designed for battery-powered wireless devices.
- Wireless Connectivity Solutions: Products encompassing Wi-Fi, Bluetooth, GPS, and GNSS technologies.
AI Analysis | Feedback
Synaptics (SYNA) primarily sells its semiconductor products and solutions to other companies (Original Equipment Manufacturers - OEMs) rather than directly to individual consumers.
Based on the provided company description, Synaptics' major customer categories include:
- Mobile OEMs: Manufacturers of mobile smartphones, tablets, and similar portable devices.
- PC OEMs: Manufacturers of notebook personal computers, desktop PCs, and PC peripherals.
- IoT OEMs: Manufacturers of Internet of Things devices, such as set-top boxes, over-the-top streaming devices, soundbars, surveillance cameras, and smart displays.
- Consumer electronics manufacturers: A broader category encompassing various companies producing electronic devices for consumers.
The provided background information does not list the specific names of these customer companies or their public symbols.
AI Analysis | Feedback
- Taiwan Semiconductor Manufacturing Company (TSM)
- United Microelectronics Corporation (UMC)
- Samsung Electronics Co., Ltd. (KSE: 005930)
- ASE Technology Holding Co., Ltd. (ASX)
- Amkor Technology (AMKR)
AI Analysis | Feedback
Rahul Patel
President, Chief Executive Officer, and Director
Rahul Patel was appointed President and Chief Executive Officer of Synaptics in June 2025. Prior to joining Synaptics, he spent a decade at Qualcomm, where he most recently served as SVP and Group General Manager of the Connectivity, Broadband, & Networking Group, responsible for a multi-billion-dollar portfolio of wireless networking and connectivity business. Earlier in his career, Mr. Patel spent 13 years in various senior leadership roles at Broadcom, including Senior Vice President and General Manager, Wireless Connectivity Group, where he played a pivotal role in expanding Broadcom's Wi-Fi®, Bluetooth®, and GPS leadership across all market segments.
Ken Rizvi
Senior Vice President & Chief Financial Officer
Ken Rizvi joined Synaptics in July 2024 as Senior Vice President and Chief Financial Officer. Before Synaptics, Mr. Rizvi served as Senior Vice President and Chief Financial Officer of SMART Global Holdings ("SGH"), a diversified business providing high-performance solutions, from February 2021 to June 2024.
Vikram Gupta
Senior Vice President and General Manager of Edge Compute and Connectivity, Chief Product Officer
Vikram Gupta joined Synaptics in January 2023. Previously, he was the SVP and GM of IoT Compute and Wireless Business Lines for Infineon Technologies, where he led integration and transformation efforts following Infineon's acquisition of Cypress. At Cypress, he served as VP of Engineering of the IoT Business Unit. Mr. Gupta also had a progressive tenure with Broadcom in both engineering and business leadership roles.
Lisa Bodensteiner
Senior Vice President, Chief Legal Officer and Secretary
Lisa Bodensteiner joined Synaptics in November 2023. Prior to Synaptics, Ms. Bodensteiner was Executive Vice President, Chief Legal Officer, Compliance Officer and Corporate Secretary of Plantronics, Inc. ("Poly"). She also held executive leadership positions at SunPower Corporation, First Solar, Inc., and OptiSolar Inc.
Satish Ganesan
Senior Vice President & General Manager of Edge Interface & Sensing, Chief Strategy Officer
Satish Ganesan's professional journey includes significant roles at companies such as Eta Compute, Silicon Catalyst, and Keyssa, where he honed his expertise in product management and marketing. He has also held Director roles at Broadcom Inc. and Tilera Corporation.
AI Analysis | Feedback
Here are the key risks to Synaptics' business:
- Dependence on Key OEM and Consumer Electronics Markets: Synaptics' revenue is heavily reliant on demand from mobile, PC, Internet of Things (IoT), and consumer electronics original equipment manufacturers (OEMs). The company maintains relationships characterized by a high dependence on a limited number of large OEMs. Consequently, economic downturns affecting consumer discretionary spending or cyclical patterns in these markets, along with shifts in OEM preferences for components, can significantly impact Synaptics' sales and financial performance. For example, the termination of a key contract for mobile device solutions in Q3 2025 led to an 18% year-over-year decline in related revenue, demonstrating the immediate impact of such relationship strains. Weakness in sectors like Enterprise, Automotive, and Mobile has led to revenue declines in these areas, highlighting the vulnerability to market-specific challenges.
- Intense Competition and Rapid Technological Change: The semiconductor industry, where Synaptics operates, is highly competitive and characterized by rapid technological advancements. Synaptics develops a wide range of products, including touch solutions, fingerprint ID, display drivers, and wireless connectivity. These diverse product lines are subject to intense rivalry from other semiconductor companies and the risk of technological obsolescence. Synaptics must continuously innovate and adapt to evolving technologies, such as the integration of AI and IoT, to maintain its relevance and avoid significant fluctuations in operating results. Failure to keep pace with new technologies or to compete effectively on price and performance could lead to a loss of market share.
- Reliance on Third-Party Manufacturing and Supply Chain Disruptions: As a fabless semiconductor company, Synaptics relies on outsourced manufacturing for its products. This dependence makes the company vulnerable to supply chain disruptions, capacity constraints, and challenges in scaling operations and controlling costs. Global events, geopolitical risks, and changes in international trade policies can impact component availability, increase production costs, disrupt supply chains, and affect Synaptics' competitiveness in global markets.
AI Analysis | Feedback
nullAI Analysis | Feedback
Synaptics (symbol: SYNA) operates in several significant addressable markets for its main products and services. Based on available data, the market sizes for these areas are as follows:Touch and Display Technologies (e.g., TouchPad, ClearPad, ClearView, TouchView)
- The global touchpad market was valued between approximately USD 3.8 billion and USD 5.12 billion in 2024. It is projected to grow to a range of approximately USD 6.8 billion by 2030 to USD 15.10 billion by 2034, with various reports citing CAGRs between 7.2% and 12.5%.
- The global display market was valued at USD 166.8 billion in 2025 and is projected to reach USD 346.92 billion by 2034, exhibiting a Compound Annual Growth Rate (CAGR) of 8.70%. Asia Pacific dominated this market with a 40.30% share in 2025.
- The global image sensor market, relevant to Synaptics' ImagingSmart solutions, was estimated at USD 31.17 billion in 2024 and is projected to reach USD 49.82 billion by 2030, growing at a CAGR of 7.7% from 2025 to 2030. The Asia Pacific region was the largest market in 2024, holding a 49.6% revenue share.
- The global digital imaging market was estimated at USD 26.94 billion in 2025 and is projected to reach USD 40.69 billion by 2031, with a 7.12% CAGR.
Audio and Video Processing and Connectivity (e.g., AudioSmart, ConnectSmart, VideoSmart, DisplayLink)
- The global smart audio devices market, which includes products like smart speakers and headphones, was valued between USD 15 billion and USD 15.6 billion in 2024. It is projected to grow to a range of approximately USD 29.6 billion by 2030 to USD 45.7 billion by 2032, with CAGRs between 12% and 12.8%. North America held approximately 40% of the global market share in 2024.
- The global video streaming market was estimated between USD 129.26 billion and USD 216.5 billion in 2024, depending on the source. It is projected to reach a range of approximately USD 391.98 billion by 2030 to USD 611.19 billion by 2033, with CAGRs between 10.4% and 21.5%. North America accounted for the largest revenue share globally in 2024, with 31.3%. The U.S. video streaming market size was USD 35.74 billion in 2025 and is expected to reach USD 165.09 billion by 2033.
- Synaptics acquired DisplayLink in July 2020, a company specializing in high-performance video compression technology for universal docking and casting. This acquisition was expected to add approximately USD 94 million in annualized sales.
- The global connected enterprise market, relevant to connectivity solutions, was valued at USD 469.32 billion in 2023 and is projected to grow at a CAGR of 32.7% from 2024 to 2030.
Biometrics (e.g., Natural ID, SecurePad)
- The global digital identity market was valued at USD 51 billion in 2025 and is projected to grow to USD 280.8 billion by 2034, at an estimated CAGR of 20.87% from 2025 to 2034. North America held the largest share in this market.
- The global identity verification market size is estimated to grow by USD 16.92 billion from 2024-2028, at a CAGR of 20.3%. North America contributed 32% to this market.
Edge AI Platforms and Wireless Connectivity Solutions
- The global Edge AI market was valued between USD 24.97 billion and USD 35.81 billion in 2025. It is projected to grow to a range of approximately USD 170.56 billion by 2035 to USD 385.89 billion by 2034, with CAGRs between 21.2% and 33.30%. North America dominated the edge AI market, holding approximately 34.8% to 40% of the market share in 2025.
- The global wireless connectivity market was valued between USD 71.60 billion in 2022 and USD 118.32 billion in 2025, depending on the source. It is projected to reach a range of approximately USD 196.12 billion by 2031 to USD 412.84 billion by 2035, with CAGRs between 11.52% and 15.06%. The Asia-Pacific region dominated this market in terms of revenue in 2022 and 2025, and is anticipated to grow at the highest CAGR. North America is also expected to witness fast growth.
AI Analysis | Feedback
Synaptics (SYNA) is poised for future revenue growth over the next 2-3 years, driven by several strategic initiatives and market trends. Key drivers include the robust expansion of its Core IoT products, the development and adoption of its edge AI solutions, and the rollout of next-generation Wi-Fi 7 technology. One of the primary growth engines for Synaptics is the **expansion of its Core IoT product portfolio**, particularly in wireless connectivity. The company has consistently reported significant year-over-year and sequential growth in this segment, with Core IoT products showing a 63% year-over-year increase in Q4 fiscal 2024 and a 74% year-over-year increase in Q1 fiscal 2026. Synaptics anticipates sustained growth and a significant increase in top-line revenue from its Core IoT offerings, especially its wireless products. A significant driver for future revenue is Synaptics' focus on **Edge AI solutions and the Astra platform**. The company launched its Astra AI-native compute platform, targeting a market opportunity exceeding $20 billion for embedded edge AI processors in the Internet of Things (IoT). This platform is designed to generate content gains with both new and existing customers, as evidenced by demonstrations of AI use cases with models like Google's Gemma 3 running natively on their multi-model processors. Furthermore, the introduction and adoption of **Wi-Fi 7 solutions** are expected to contribute substantially to revenue growth. Synaptics is actively developing and sampling Wi-Fi 7 devices for IoT, viewing this as a key initiative to unlock a multi-billion dollar market opportunity. Lastly, Synaptics is experiencing **market share gains and driving higher content in the PC market**. Within its enterprise and automotive products segment, the company is securing increased market share at various original equipment manufacturers (OEMs) and enhancing product content with larger touchpads and haptics technology in PCs. This has contributed to sequential improvements in the enterprise and automotive sector, driven by advancements in video interface and PC products.AI Analysis | Feedback
Share Repurchases
- In fiscal year 2025, Synaptics repurchased $128 million in shares.
- The Board of Directors authorized a new share repurchase program of up to $150 million in August 2025.
- In May 2023, the company's Board approved an increase in its share repurchase program, bringing the total available authorization to nearly $1 billion.
Share Issuance
- Synaptics sought stockholder approval in September 2025 for amendments to its equity plans, including 1,900,000 additional shares under the Amended 2019 Incentive Plan and a 1,500,000-share increase for the Employee Stock Purchase Plan, to sustain annual equity grants.
- The total overhang was 15.7% as of August 29, 2025, with a gross burn rate of 7.04% in fiscal year 2025, partly due to one-time acquisition- and transition-related grants.
Outbound Investments
- In February 2025, Synaptics completed a $198 million all-cash acquisition from Broadcom, intended to strengthen its Edge AI and wireless connectivity portfolio.
- In October 2022, the company acquired Emza Visual Sense, a provider of AI-enabled visual sensors.
- Synaptics acquired DSP Group for $540 million in August 2021.
Capital Expenditures
- Capital expenditures were $25.8 million in fiscal year 2025 and $33.8 million in fiscal year 2024.
- Synaptics maintains a 'fabless' manufacturing model, opting to outsource production to concentrate on research and development.
- The primary focus of capital expenditures is to support growth in the Core IoT sector, with a particular emphasis on Edge AI.
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| 03312023 | SYNA | Synaptics | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -19.5% | -12.2% | -33.8% |
| 09302022 | SYNA | Synaptics | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 12.3% | -9.7% | -25.7% |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 123.62 |
| Mkt Cap | 43.9 |
| Rev LTM | 5,184 |
| Op Inc LTM | 514 |
| FCF LTM | 1,119 |
| FCF 3Y Avg | 1,279 |
| CFO LTM | 1,335 |
| CFO 3Y Avg | 1,808 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 3.8% |
| Rev Chg 3Y Avg | -7.4% |
| Rev Chg Q | 10.2% |
| QoQ Delta Rev Chg LTM | 2.5% |
| Op Inc Chg LTM | -15.1% |
| Op Inc Chg 3Y Avg | -36.2% |
| Op Mgn LTM | 9.4% |
| Op Mgn 3Y Avg | 21.3% |
| QoQ Delta Op Mgn LTM | -0.0% |
| CFO/Rev LTM | 21.9% |
| CFO/Rev 3Y Avg | 25.3% |
| FCF/Rev LTM | 18.7% |
| FCF/Rev 3Y Avg | 16.4% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 43.9 |
| P/S | 5.8 |
| P/Op Inc | 16.7 |
| P/EBIT | 15.9 |
| P/E | -14.6 |
| P/CFO | 22.1 |
| Total Yield | 0.8% |
| Dividend Yield | 0.8% |
| FCF Yield 3Y Avg | 3.9% |
| D/E | 0.1 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 24.4% |
| 3M Rtn | 15.0% |
| 6M Rtn | 37.8% |
| 12M Rtn | 81.4% |
| 3Y Rtn | 38.9% |
| 1M Excs Rtn | 15.7% |
| 3M Excs Rtn | 11.4% |
| 6M Excs Rtn | 31.6% |
| 12M Excs Rtn | 65.1% |
| 3Y Excs Rtn | -45.1% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Enterprise and Automotive product applications | 570 | 854 | |||
| Mobile product applications | 212 | 192 | 296 | 372 | 699 |
| Core Internet of Things (IoT) product applications | 178 | 310 | |||
| Internet of Things (IoT) product applications | 1,101 | 613 | 318 | ||
| Personal computing (PC) product applications | 343 | 355 | 317 | ||
| Total | 959 | 1,355 | 1,740 | 1,340 | 1,334 |
Price Behavior
Price Behavior
| Market Price | $93.86 | |
| Market Cap ($ Bil) | 3.7 | |
| First Trading Date | 01/29/2002 | |
| Distance from 52W High | 0.0% | |
| 50 Days | 200 Days | |
| DMA Price | $77.80 | $73.66 |
| DMA Trend | up | down |
| Distance from DMA | 20.6% | 27.4% |
| 3M | 1YR | |
| Volatility | 51.0% | 45.8% |
| Downside Capture | 0.35 | 0.93 |
| Upside Capture | 84.90 | 176.60 |
| Correlation (SPY) | 50.6% | 61.8% |
SYNA Betas & Captures as of 3/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.75 | 1.27 | 1.63 | 2.12 | 2.12 | 1.98 |
| Up Beta | 2.94 | 2.92 | 2.68 | 2.97 | 2.23 | 2.10 |
| Down Beta | 2.71 | 2.27 | 2.37 | 2.35 | 2.18 | 1.93 |
| Up Capture | 119% | 24% | 124% | 242% | 309% | 589% |
| Bmk +ve Days | 7 | 16 | 27 | 65 | 139 | 424 |
| Stock +ve Days | 9 | 16 | 26 | 60 | 123 | 353 |
| Down Capture | 147% | 104% | 98% | 149% | 147% | 112% |
| Bmk -ve Days | 12 | 23 | 33 | 58 | 110 | 323 |
| Stock -ve Days | 13 | 26 | 37 | 66 | 127 | 395 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SYNA | |
|---|---|---|---|---|
| SYNA | 82.3% | 46.0% | 1.45 | - |
| Sector ETF (XLK) | 62.8% | 20.7% | 2.25 | 57.6% |
| Equity (SPY) | 34.0% | 12.6% | 2.05 | 61.6% |
| Gold (GLD) | 42.9% | 27.2% | 1.29 | 6.2% |
| Commodities (DBC) | 46.4% | 18.0% | 1.97 | -1.5% |
| Real Estate (VNQ) | 14.2% | 13.3% | 0.74 | 32.3% |
| Bitcoin (BTCUSD) | -16.6% | 42.1% | -0.32 | 32.0% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SYNA | |
|---|---|---|---|---|
| SYNA | -6.1% | 51.6% | 0.07 | - |
| Sector ETF (XLK) | 18.5% | 24.8% | 0.67 | 68.9% |
| Equity (SPY) | 12.7% | 17.1% | 0.58 | 68.7% |
| Gold (GLD) | 21.2% | 17.8% | 0.97 | 9.6% |
| Commodities (DBC) | 14.5% | 19.1% | 0.62 | 14.0% |
| Real Estate (VNQ) | 3.7% | 18.8% | 0.10 | 47.5% |
| Bitcoin (BTCUSD) | 7.0% | 56.3% | 0.34 | 31.7% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SYNA | |
|---|---|---|---|---|
| SYNA | 1.1% | 51.0% | 0.22 | - |
| Sector ETF (XLK) | 23.2% | 24.4% | 0.87 | 59.5% |
| Equity (SPY) | 14.9% | 17.9% | 0.71 | 58.1% |
| Gold (GLD) | 13.9% | 15.9% | 0.73 | 6.2% |
| Commodities (DBC) | 10.1% | 17.8% | 0.47 | 17.6% |
| Real Estate (VNQ) | 5.4% | 20.7% | 0.23 | 38.2% |
| Bitcoin (BTCUSD) | 68.3% | 66.9% | 1.07 | 17.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 2/5/2026 | 2.2% | 5.5% | -14.7% |
| 11/6/2025 | -3.7% | -4.6% | 15.9% |
| 8/7/2025 | 6.4% | 14.0% | 18.2% |
| 5/8/2025 | 0.1% | 9.3% | 7.6% |
| 2/3/2025 | -12.6% | -18.3% | -25.2% |
| 11/7/2024 | 8.4% | 0.8% | 10.3% |
| 8/8/2024 | 0.5% | 5.8% | -1.8% |
| 5/9/2024 | -3.0% | 1.3% | 3.1% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 16 | 14 | 13 |
| # Negative | 8 | 10 | 11 |
| Median Positive | 4.7% | 8.3% | 15.9% |
| Median Negative | -3.3% | -8.6% | -6.8% |
| Max Positive | 16.5% | 24.3% | 29.8% |
| Max Negative | -16.2% | -18.3% | -25.2% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/05/2026 | 10-Q |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/21/2025 | 10-K |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/06/2025 | 10-Q |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/23/2024 | 10-K |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/08/2024 | 10-Q |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/18/2023 | 10-K |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/02/2023 | 10-Q |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/22/2022 | 10-K |
| 03/31/2022 | 05/05/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q2 2026 Earnings Reported 2/5/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q3 2026 Revenue | 280.00 Mil | 290.00 Mil | 300.00 Mil | -3.3% | Lowered | Guidance: 300.00 Mil for Q2 2026 | |
| Q3 2026 Operating Margin | 52.5% | 53.5% | 54.5% | 0 | 0 | Affirmed | Guidance: 53.5% for Q2 2026 |
| Q3 2026 Operating Expense | 104.00 Mil | 106.00 Mil | 108.00 Mil | 0 | Affirmed | Guidance: 106.00 Mil for Q2 2026 | |
| Q3 2026 EPS | 0.85 | 1 | 1.15 | -13.0% | Lowered | Guidance: 1.15 for Q2 2026 | |
Prior: Q1 2026 Earnings Reported 11/6/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Revenue | 290.00 Mil | 300.00 Mil | 310.00 Mil | 3.4% | Raised | Guidance: 290.00 Mil for Q1 2026 | |
| Q2 2026 Revenue Growth | 12.0% | -7.7% | -1.0% | Lowered | Guidance: 13.0% for Q1 2026 | ||
| Q2 2026 Non-GAAP Gross Margin | 52.5% | 53.5% | 54.5% | 0 | 0 | Affirmed | Guidance: 53.5% for Q1 2026 |
| Q2 2026 Non-GAAP EPS | 1 | 1.15 | 1.3 | 9.5% | Raised | Guidance: 1.05 for Q1 2026 | |
| Q2 2026 GAAP Gross Margin | 41.0% | 43.0% | 45.0% | ||||
| Q2 2026 GAAP Operating Expense | 148.00 Mil | 152.00 Mil | 156.00 Mil | ||||
| Q2 2026 Non-GAAP Operating Expense | 104.00 Mil | 106.00 Mil | 108.00 Mil | ||||
| Q2 2026 GAAP EPS | -0.75 | -0.5 | -0.25 | ||||
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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