New insider activity at Synaptics ( (SYNA) ) has taken place on February 12, 2025.
Ken Rizvi, the Senior Vice President and Chief Financial Officer of Synaptics, has made a significant investment by purchasing 3,600 shares of the company’s stock. The transaction, valued at $248,940, underscores his confidence in the company’s potential.
Recent Updates on SYNA stock
In the last 24 hours, Synaptics has experienced notable developments following its Q2 earnings call. The company reported a revenue increase of 4% sequentially and 13% year-over-year, primarily driven by strong performance in its core IoT products, which grew by 63% year-over-year. A strategic agreement with Broadcom is expected to bolster its Edge AI strategy and generate significant annualized sales. However, challenges such as a leadership transition due to the resignation of CEO Michael Hurlston and sluggishness in the automotive segment have been identified. Analyst Vijay Rakesh from Mizuho lowered Synaptics’ price target, citing stabilized revenues that are past the trough as a key reason. The company’s strategic initiatives and financial management, including share repurchases and debt retirement, underscore a cautiously optimistic outlook, despite anticipated seasonal declines.
More about Synaptics
YTD Price Performance: -15.80%
Average Trading Volume: 683,595
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $2.79B