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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Synaptics Incorporated    SYNA

SYNAPTICS INCORPORATED

(SYNA)
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Synaptics Incorporated : Headquarters to be Powered by 100% Renewable Energy Through New Partnership with San José Clean Energy

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09/21/2020 | 05:55pm EDT

SAN JOSE, Calif., Sept. 21, 2020 (GLOBE NEWSWIRE) -- Synaptics Incorporated (Nasdaq: SYNA), the leading provider of human interface solutions, announced a decision to power their headquarters with 100% renewable energy through TotalGreen, a program available through San Jose Clean Energy (SJCE).

SJCE’s TotalGreen electric service sources renewable, emission free energy from solar generation. TotalGreen is a simple, cost-effective way for companies to reduce their impact on the planet, which is exactly what drove Synaptics to upgrade their service.

“We are thrilled to be able to power our San José facility with 100% renewable energy,” said Michael Hurlston, president and CEO of Synaptics. “We recognize the importance of protecting the environment for future generations and are always looking for ways to reduce our carbon footprint. TotalGreen helps us achieve that goal.”

The partnership with SJCE is part of Synaptics’ greater sustainability initiative. The company is committed to increasing use of renewable energy to 50% across its global facilities by 2022. In addition, Synaptics recently upgraded their HVAC systems, increased temperature in their datacenters, and converted to LED lighting to reduce building energy consumption.

“We are pleased to welcome Synaptics as our newest TotalGreen corporate partner,” said Lori Mitchell, Community Energy Department Director. “It’s paramount that local government and the private sector work together to drive investment in cleaner energy to fight climate change and improve quality of life in our communities.”

Operated by the Community Energy Department, SJCE is the City’s Community Choice Energy program. Community Choice programs allow local governments like the City of San José to buy electricity from cleaner sources, while the investor-owned utility (PG&E, for San José) continues to distribute the electricity, maintain the powerlines, respond to power outages, and provide billing.

SJCE plays a crucial role in Climate Smart San José, the City’s climate action plan, and is dedicated to increasing the amount of renewable energy in its power supply. To date, SJCE has contracted for nearly 500 megawatts (MW) of new renewable energy and 10 MW of battery storage that will come online over the next few years. Earlier this year, SJCE partnered with developer Terra-Gen on two long-term power purchase agreements that will provide San José with 162 MW of solar that will be built in Kern County.

About Synaptics:
Synaptics (Nasdaq: SYNA) is pioneering the relationship between people and intelligent devices, bringing innovative and intuitive user experiences for the premium market. Synaptics’ broad portfolio of touch, display, biometrics, voice, video, vision, AI, audio and connectivity products are built on the company’s rich R&D, extensive IP and dependable supply chain capabilities. With solutions designed for the smart home, smartphones, PC and peripherals, and automotive markets, Synaptics combines ease of use, functionality and aesthetics to enable products that help make our digital lives more productive, secure and enjoyable. Follow Synaptics on LinkedIn, Twitter and Facebook, or visit synaptics.com.

About the City of San José
With more than one million residents, San José is one of the most diverse large cities in the United States and is Northern California’s largest city and the 10th largest city in the nation. San José’s transformation into a global innovation center has resulted in one of the largest concentrations of technology companies and expertise in the world. In 2011, the City adopted Envision San José 2040, a long-term growth plan that sets forth a vision and a comprehensive road map to guide the City’s anticipated growth through the year 2040.

About the Community Energy Department
San José Clean Energy is the new electricity generation service provider for residents and businesses in the City of San José, operated by the City’s Community Energy Department. Governed by the City Council, it provides over 328,000 residential and commercial electricity customers with cleaner, lower carbon power options at competitive prices, from sources like solar, wind and hydropower. For more information, please visit www.SanJoseCleanEnergy.org. 

Follow us on Facebook, Twitter and Instagram @SJCleanEnergy.

Contact
Zachary Struyk Deputy Director, Account Management and Marketing
San José Clean Energy, City of San José
(408) 535-4868, zachary.struyk@sanjoseca.gov

Synaptics contact:
David Hurd, Head of Corporate Marketing & Public Relations
Synaptics Incorporated
(408) 904-1100, david.hurd@synaptics.com


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Source: Synaptics Incorporated

2020 GlobeNewswire, Inc., source Press Releases


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Financials (USD)
Sales 2021 1 270 M - -
Net income 2021 109 M - -
Net cash 2021 436 M - -
P/E ratio 2021 18,7x
Yield 2021 -
Capitalization 2 785 M 2 785 M -
EV / Sales 2021 1,85x
EV / Sales 2022 1,55x
Nbr of Employees 1 387
Free-Float 51,3%
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Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 93,09 $
Last Close Price 81,27 $
Spread / Highest target 47,7%
Spread / Average Target 14,5%
Spread / Lowest Target -13,9%
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Managers
NameTitle
Michael E. Hurlston President, Chief Executive Officer & Director
Nelson C. Chan Executive Chairman
Divyesh Shah Senior Vice President-Operations
Dean Butler Chief Financial Officer & Senior Vice President
Patrick Worfolk Chief Technology Officer & VP-Corporate Research
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