Synaptics Shareholders' 185% Growth Despite Recent Market Cap Dip
ByAinvest
Wednesday, Jun 26, 2024 8:36 am ET1min read
SYNA--
Synaptics Incorporated (NASDAQ:SYNA), a leading provider of human interface solutions, experienced a 12% share price decrease in the last quarter, although shareholders have enjoyed an impressive 185% return over the past five years [1]. The company's earnings per share (EPS) have grown at a rate of 5.7% annually [2]. Despite these positive figures, Synaptics lost $151 million in market capitalization in the past three years, and its stock's total shareholder return (TSR) over the past year lagged behind the market at 1.1% [2].
Synaptics' financial results for the third quarter of fiscal 2024, ended March 30, 2024, showcased mixed performance. The company reported revenue of $237.3 million and GAAP net loss of $18.1 million, translating to a loss of $0.46 per basic share [2]. However, Synaptics' non-GAAP net income reached $21.0 million, or $0.53 per diluted share [2]. Michael Hurlston, Synaptics' President and CEO, highlighted the company's achievements in its strategic Core IoT product area, with a successful launch of its Astra™ platform targeting a $20 billion plus market opportunity for embedded edge AI processors for the Internet of Things (IoT) [2].
Despite the recent challenges, Synaptics' long-term TSR of 23% indicates better growth potential [1]. The company is optimistic about its business outlook, anticipating a moderate increase in revenue for the fourth quarter of fiscal year 2024 [2]. However, the recovery is progressing slower than anticipated, and the company is dealing with supply chain inventory and improving demand conditions [2].
Sources:
[1] Yahoo Finance. Synaptics Incorporated (SYNA). https://ca.finance.yahoo.com/news/synaptics-incorporated-syna-fell-despite-131104894.html
[2] Synaptics Incorporated. Synaptics Reports Third Quarter Fiscal 2024 Results. https://investor.synaptics.com/news-releases/news-release-details/synaptics-reports-third-quarter-fiscal-2024-results
TSRI--
Despite a 12% share price drop in the last quarter, Synaptics (NASDAQ:SYNA) shareholders have enjoyed an impressive 185% return over five years, with the company's earnings per share growing at 5.7% annually. However, recent losses of $151 million in market cap and a 44% drop in the past three years indicate mixed performance. The stock's TSR of 1.1% over the past year lags behind the market, but its long-term TSR of 23% highlights better growth.
Synaptics Incorporated (NASDAQ:SYNA), a leading provider of human interface solutions, experienced a 12% share price decrease in the last quarter, although shareholders have enjoyed an impressive 185% return over the past five years [1]. The company's earnings per share (EPS) have grown at a rate of 5.7% annually [2]. Despite these positive figures, Synaptics lost $151 million in market capitalization in the past three years, and its stock's total shareholder return (TSR) over the past year lagged behind the market at 1.1% [2].
Synaptics' financial results for the third quarter of fiscal 2024, ended March 30, 2024, showcased mixed performance. The company reported revenue of $237.3 million and GAAP net loss of $18.1 million, translating to a loss of $0.46 per basic share [2]. However, Synaptics' non-GAAP net income reached $21.0 million, or $0.53 per diluted share [2]. Michael Hurlston, Synaptics' President and CEO, highlighted the company's achievements in its strategic Core IoT product area, with a successful launch of its Astra™ platform targeting a $20 billion plus market opportunity for embedded edge AI processors for the Internet of Things (IoT) [2].
Despite the recent challenges, Synaptics' long-term TSR of 23% indicates better growth potential [1]. The company is optimistic about its business outlook, anticipating a moderate increase in revenue for the fourth quarter of fiscal year 2024 [2]. However, the recovery is progressing slower than anticipated, and the company is dealing with supply chain inventory and improving demand conditions [2].
Sources:
[1] Yahoo Finance. Synaptics Incorporated (SYNA). https://ca.finance.yahoo.com/news/synaptics-incorporated-syna-fell-despite-131104894.html
[2] Synaptics Incorporated. Synaptics Reports Third Quarter Fiscal 2024 Results. https://investor.synaptics.com/news-releases/news-release-details/synaptics-reports-third-quarter-fiscal-2024-results
Stay ahead of the market.
Get curated U.S. market news, insights and key dates delivered to your inbox.
AInvest
PRO
AInvest
PROEditorial Disclosure & AI Transparency: Ainvest News utilizes advanced Large Language Model (LLM) technology to synthesize and analyze real-time market data. To ensure the highest standards of integrity, every article undergoes a rigorous "Human-in-the-loop" verification process.
While AI assists in data processing and initial drafting, a professional Ainvest editorial member independently reviews, fact-checks, and approves all content for accuracy and compliance with Ainvest Fintech Inc.’s editorial standards. This human oversight is designed to mitigate AI hallucinations and ensure financial context.
Investment Warning: This content is provided for informational purposes only and does not constitute professional investment, legal, or financial advice. Markets involve inherent risks. Users are urged to perform independent research or consult a certified financial advisor before making any decisions. Ainvest Fintech Inc. disclaims all liability for actions taken based on this information. Found an error?Report an Issue
Comments
No comments yet