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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 | 05:53pm 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. -0.17% 372.72 Delayed Quote.17.94%
SYNAPTICS INCORPORATED 0.83% 81.27 Delayed Quote.23.57%
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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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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 93,09 $
Last Close Price 81,27 $
Spread / Highest target 47,7%
Spread / Average Target 14,5%
Spread / Lowest Target -13,9%
EPS Revisions
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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