Synaptics CEO says ‘chasing business’ for first time in number of quarters

While presenting at the Needham Growth Conference, Michael Hurlston, President and CEO of Synaptics (SYNA), was asked whether there were any parts of the company’s business where he still sees some lingering effects of excess inventory. In reply, the executive stated, according to a transcript of the event: “Not really. In simple terms, I think we were first in… I think we were more subject to customers pushing us to ship, and we understood the demand on the other side was weaker. So we built up a fairly appreciable inventory position that corrected off faster than most. Right now, I would say we do not see inventory anywhere in the channel, and we’re seeing pockets now of short lead time orders where we’re actually chasing business for the first time in probably six or eight quarters.”