Synaptics Q2 revenue up 13%, slightly beats estimates

Overview

• AI solutions provider's Q2 revenue rose 13% yr/yr, slightly beating analyst expectations

• Adjusted EPS for Q2 beat analyst expectations, reaching $1.21

• Core IoT product sales grew 53% yr/yr, driving overall revenue growth

Outlook

• Synaptics expects Q3 revenue of $290 mln ± $10 mln

• Company projects Q3 non-GAAP EPS of $1.00 ± $0.15

Result Drivers

• CORE IOT GROWTH - Core IoT product sales increased by 53% year-over-year, significantly contributing to overall revenue growth

Key Details

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the semiconductors peer group is "buy"

• Wall Street's median 12-month price target for Synaptics Inc is $95.00, about 8.3% above its February 4 closing price of $87.70

• The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 15 three months ago

Press Release: ID:nGNX85SGwq

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