Synaptics (SYNA) Tops Q1 EPS by 18c

Synaptics (NASDAQ: SYNA) reported Q1 EPS of $1.85, $0.18 better than the analyst estimate of $1.67. Revenue for the quarter came in at $328.4 million versus the consensus estimate of $324.81 million.

“Synaptics delivered a strong start to our fiscal year with first quarter revenues exceeding the mid-point of our guidance, gross margins above the high-end of our guidance, and the highest operating margins for the company in more than six years,” said Michael Hurlston, Synaptics’ president and CEO. “We continue to benefit from the strong design pipeline across all of our businesses, with several new products ramping this quarter and contributing to the strong start of our fiscal year. Our two recent acquisitions are outperforming our initial expectations and the integration of these new businesses are now completed. Together, we are in a much stronger position to drive profitable revenue growth going forward.”

GUIDANCE:

Synaptics sees Q2 2021 revenue of $340-370 million, versus the consensus of $347.23 million.

For earnings history and earnings-related data on Synaptics (SYNA) click here.

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