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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Synaptics Incorporated    SYNA

SYNAPTICS INCORPORATED

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Synaptics Incorporated : in Deal to Get Rights to Broadcom's Wireless IoT Connectivity Business

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07/07/2020 | 04:53pm EDT

By Stephen Nakrosis

 

Synaptics Inc. said Tuesday it plans to acquire assets and manufacturing rights associated with the wireless IoT business of Broadcom for about $250 million in cash.

Under the terms of the deal, Synaptics "will acquire certain rights to Broadcom's existing Wi-Fi, Bluetooth and GPS/GNSS products and business in the IoT market as well as future roadmap devices designed in advanced process nodes," the company said.

Synaptics also said the deal is expected to immediately add to its non-GAAP gross margins and non-GAAP earnings post-close, and expects it will add about $65 million in current annual sales and provide significant revenue growth potential.

Synaptics expects the deal to close in its first quarter of fiscal 2021.

 

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
BROADCOM INC. 2.97% 333.64 Delayed Quote.2.53%
SYNAPTICS INCORPORATED 2.50% 85.8 Delayed Quote.27.28%
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Financials (USD)
Sales 2020 1 329 M - -
Net income 2020 35,8 M - -
Net cash 2020 176 M - -
P/E ratio 2020 76,4x
Yield 2020 -
Capitalization 2 856 M 2 856 M -
EV / Sales 2020 2,02x
EV / Sales 2021 1,91x
Nbr of Employees 1 861
Free-Float 50,6%
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Technical analysis trends SYNAPTICS INCORPORATED
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 91,90 $
Last Close Price 83,71 $
Spread / Highest target 43,4%
Spread / Average Target 9,78%
Spread / Lowest Target -16,4%
EPS Revisions
Managers
NameTitle
Michael E. Hurlston President, Chief Executive Officer & Director
Nelson C. Chan Executive Chairman
Dean Butler Chief Financial Officer & Senior Vice President
Patrick Worfolk Chief Technology Officer & VP-Corporate Research
Keith Geeslin Independent Director
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