Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nasdaq  >  Synaptics Incorporated    SYNA

SYNAPTICS INCORPORATED

(SYNA)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Synaptics Announces Divestiture of Mobile LCD TDDI Business to Hua Capital

share with twitter share with LinkedIn share with facebook
share via e-mail
12/19/2019 | 08:01am EST

SAN JOSE, Calif., Dec. 19, 2019 (GLOBE NEWSWIRE) -- Synaptics Incorporated (NASDAQ: SYNA), the leading developer of human interface solutions, today announced it has signed a definitive agreement to divest its Asia-based, mobile LCD TDDI business to Hua Capital, through a special purpose entity backed by Hua-Capital Cayman, L.P., for $120 million in cash.

“This transaction is consistent with Synaptics’ strategy of focusing on differentiated franchises and investing in areas where we can deliver more profitable long-term growth for the company, leading to greater shareholder value,” said Michael Hurlston, president and CEO at Synaptics.

“We will continue to invest in technologies for the premium segments of the mobile market where our advanced touch controllers and DDICs deliver best-in-class performance,” said Janice Mori, senior vice president, Touch and Display Business Unit at Synaptics. “In addition, we will still develop TDDI solutions for automotive applications where we have an unparalleled roadmap and are currently capturing the majority of sockets globally.”

The transaction has been approved by Synaptics’ board of directors and by Hua Capital, is subject to customary closing conditions, and is expected to close in calendar Q2, 2020. We do not anticipate the transaction will have any significant impact on the current quarter’s financial results, and questions will be answered during Synaptics’ next planned earnings call.

About Synaptics:
Synaptics is the pioneer and leader of the human interface revolution, bringing innovative and intuitive user experiences to intelligent devices. Synaptics’ broad portfolio of touch, display, biometrics, voice, audio, and multimedia products is built on the company’s rich R&D, extensive IP and dependable supply chain capabilities. With solutions designed for mobile, PC, smart home, and automotive industries, Synaptics combines ease of use, functionality and aesthetics to enable products that help make our digital lives more productive, secure and enjoyable. (NASDAQ: SYNA) www.synaptics.com.

Join Synaptics on Twitter, LinkedIn, and Facebook, or visit www.synaptics.com.

Synaptics and the Synaptics logo are trademarks of Synaptics in the United States and/or other countries. All other marks are the property of their respective owners.

For further information, please contact:
Investor Relations:
Jason Tsai
Synaptics
jason.tsai@synaptics.com

Public Relations:
David Hurd
Synaptics 
david.hurd@synaptics.com

Safe Harbor for Forward-looking Statements:
This press release contains forward-looking statements that are subject to the safe harbors created under the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended.  Forward-looking statements give our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business, and can be identified by the fact that they do not relate strictly to historical or current facts. Such forward-looking statements may include words such as “expect,” “anticipate,” “intend,” “believe,” “estimate,” “plan,” “target,” “strategy,” “continue,” “may,” “will,” “should,” variations of such words, or other words and terms of similar meaning. All forward-looking statements reflect our best judgment and are based on several factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control. Such factors include, but are not limited to, risks as identified in the “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Business” sections of our Annual Report on Form 10-K for the fiscal year ended June 29, 2019, and other risks as identified from time to time in our Securities and Exchange Commission reports. Forward-looking statements are based on information available to us on the date hereof, and we do not have, and expressly disclaim, any obligation to publicly release any updates or any changes in our expectations, or any change in events, conditions, or circumstances on which any forward-looking statement is based. Our actual results and the timing of certain events could differ materially from the forward-looking statements.

Primary Logo


© GlobeNewswire 2019
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on SYNAPTICS INCORPORATED
02/19SYNAPTICS INC : Change in Directors or Principal Officers (form 8-K)
AQ
02/06SYNAPTICS INCORPORATED : INC MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL C..
AQ
02/06SYNAPTICS : Fiscal 2Q Earnings Snapshot
AQ
02/06SYNAPTICS INC : Results of Operations and Financial Condition, Financial Stateme..
AQ
02/06Synaptics Reports Results for Second Quarter Fiscal 2020
GL
01/09Synaptics to Report Second Quarter Fiscal 2020 Results on February 6, 2020
GL
01/06Synaptics Launches New TD7850 Automotive TDDI Solution for Touchscreens up to..
GL
01/06Synaptics Announces Industry-First Edge Computing Video SoCs with Secure AI F..
GL
01/06Synaptics OLED Touchscreen Controllers Deliver Flagship Performance, Low Powe..
GL
01/06Synaptics to Showcase New Human Machine Interface Innovations at CES 2020
GL
More news
Financials (USD)
Sales 2020 1 370 M
EBIT 2020 222 M
Net income 2020 37,5 M
Finance 2020 152 M
Yield 2020 -
P/E ratio 2020 70,0x
P/E ratio 2021 44,6x
EV / Sales2020 1,78x
EV / Sales2021 1,78x
Capitalization 2 585 M
Chart SYNAPTICS INCORPORATED
Duration : Period :
Synaptics Incorporated Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SYNAPTICS INCORPORATED
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 81,10  $
Last Close Price 76,16  $
Spread / Highest target 32,6%
Spread / Average Target 6,49%
Spread / Lowest Target -27,8%
EPS Revisions
Managers
NameTitle
Michael E. Hurlston President, Chief Executive Officer & Director
Nelson C. Chan Executive Chairman
Alex Wong Senior Vice President-Worldwide Operations
Dean Butler Chief Financial Officer & Senior Vice President
Patrick Worfolk Chief Technology Officer & VP-Corporate Research
Sector and Competitors
1st jan.Capitalization (M$)
SYNAPTICS INCORPORATED15.80%2 585
DELL TECHNOLOGIES INC.0.64%37 742
HP INC.10.17%32 987
HEWLETT PACKARD ENTERPRISE COMPANY-10.59%18 337
SEAGATE TECHNOLOGY PLC-9.16%14 102
GOERTEK INC.--.--%11 535