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Synaptics (SYNA) Stock Sinks As Market Gains: What You Should Know

Zacks Equity Research
·3 min read

Synaptics (SYNA) closed the most recent trading day at $83.31, moving -0.81% from the previous trading session. This change lagged the S&P 500's daily gain of 0.18%. At the same time, the Dow lost 0.15%, and the tech-heavy Nasdaq gained 0.5%.

Prior to today's trading, shares of the maker of touch-screen technology had gained 9.19% over the past month. This has outpaced the Computer and Technology sector's gain of 5.57% and the S&P 500's gain of 3.22% in that time.

Investors will be hoping for strength from SYNA as it approaches its next earnings release. On that day, SYNA is projected to report earnings of $2.14 per share, which would represent year-over-year growth of 4.9%. Our most recent consensus estimate is calling for quarterly revenue of $357.29 million, down 7.99% from the year-ago period.

SYNA's full-year Zacks Consensus Estimates are calling for earnings of $6.86 per share and revenue of $1.30 billion. These results would represent year-over-year changes of +15.29% and -2.45%, respectively.

Any recent changes to analyst estimates for SYNA should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.5% higher. SYNA is holding a Zacks Rank of #2 (Buy) right now.

In terms of valuation, SYNA is currently trading at a Forward P/E ratio of 12.24. This valuation marks a discount compared to its industry's average Forward P/E of 29.89.

Meanwhile, SYNA's PEG ratio is currently 1.22. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Electronics - Semiconductors industry currently had an average PEG ratio of 1.6 as of yesterday's close.

The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 82, putting it in the top 33% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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