Synaptics Incorporated develops, markets, and sells semiconductor products worldwide. The company provides touch, display, biometrics, voice, audio, processor, wireless, and multimedia products for mobile, personal computers, smart home, industrial, and automotive applications, as well as modular development kits, open software frameworks, and optimized AI/ML toolchains. It also offers Wi-Fi, Bluetooth, Bluetooth Low Energy, Zigbee, Thread, Matter, global positioning system, global navigation satellite system, ultra-wideband and ultra-low energy solutions, human interface products, organic light-emitting diodes, multimedia SoCs, fax/modem/printer processors, video interface ICs, DisplayLink graphics, and display driver ICs (DDIC); Astra and Veros, an AI solution; and DisplayLink and DisplayPort to simplify connectivity to external displays. In addition, it provides Natural ID, a fingerprint ID product for notebook, personal computer peripherals, automobiles, and other applications, as well as integrated touch and display, local dimming, and driver sensing technologies. The company sells its products through direct sales, outside sales representatives, OEM distributors, and value-added resellers. Synaptics Incorporated was incorporated in 1986 and is headquartered in San Jose, California.
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Synaptics CFO Resigns, No Successor Search Before ON Semi Merger
Synaptics announced that CFO Ken Rizvi has resigned effective immediately to pursue another opportunity, and the company will not search for a successor given its pending merger with ON Semiconductor. Rizvi will remain as an adviser through September 30, 2026, while CEO Rahul Patel will serve as principal financial officer until the merger closes, and former Chief Accounting Officer Kermit Nolan will return as a consultant to support the finance team. The all-stock acquisition, announced in June, values Synaptics at approximately $7 billion, with shareholders receiving 1.350 ON Semiconductor shares for each Synaptics share, a roughly 19% premium based on the companies' 10-day volume-weighted average closing prices. The deal is expected to close in mid-2027 and be accretive to non-GAAP earnings per share within 18 months, with anticipated annual synergies of approximately $200 million. Synaptics shares were up 1.84% at $99.80 during premarket trading on Friday.
Synaptics Reports Q4 Revenue of $308 Million, EPS of $1.23
Synaptics reported fourth-quarter revenue of $308 million, an 8.9% increase from a year ago, and earnings per share of $1.23, up from $1.01. Revenue exceeded the Zacks Consensus Estimate of $305 million by 0.98%, while EPS beat the consensus of $1.21 by 1.65%. Within the total, Core IoT product applications revenue was $104.6 million, above the $99.67 million analyst estimate, and Enterprise and Automotive product applications revenue was $164.3 million, topping the $161.9 million estimate, while Mobile product applications revenue came in at $39.1 million, below the $42.09 million estimate.
Onsemi expects AI data center revenue to more than double in 2026
Onsemi expects its AI data center revenue to more than double in 2026, as the company guided third-quarter earnings per share to a range of $0.81 to $0.93. The chipmaker reported second-quarter revenue of $1.6 billion, with non-GAAP gross margin of 39.3% and non-GAAP diluted earnings per share of $0.74, all above the midpoint of its guidance. Management noted that supply is tightening in several growth areas, lead times are extending, and the company prioritized AI data center shipments over automotive and industrial segments in the quarter. Onsemi also announced an agreement to acquire Synaptics, with the transaction expected to close in mid-2027, and is implementing a second round of price increases to offset rising input costs. Free cash flow nearly quadrupled in the quarter, reaching $425 million, and the company returned $332 million to shareholders through share repurchases.
Synaptics CFO Ken Rizvi Sells 1,473 Shares to Cover Tax Obligations
Synaptics CFO Ken Rizvi disposed of 1,473 shares on July 17, 2026, in a non-discretionary transaction valued at approximately $168,000 to satisfy tax withholding obligations tied to restricted stock unit vesting. The sale represents roughly 1% of his direct equity holdings, leaving him with 104,417 shares worth about $11.9 million based on the same day's closing price of $114.05. Synaptics, a fabless semiconductor company with $1.2 billion in trailing twelve-month revenue, recently reported a 10% revenue increase to $294.2 million in its fiscal third quarter, driven by a 31% jump in core internet-of-things chip sales. The company also executed $39 million in share buybacks during the quarter, though it carries $836.7 million in long-term debt against $404 million in cash. Rizvi noted that margins remain healthy and guided for approximately $305 million in revenue for the June quarter, while outlining a long-term vision for IoT processor margins to exceed the corporate average.
Synaptics chief product officer Vikram Gupta disposed of 1,848 shares of common stock at an average price of $114.19 per share, for a total value of approximately $211,023, according to an SEC filing. The transactions, completed on July 17 and July 20, 2026, reduced his direct holdings by 2% to 81,586 shares, worth about $9.27 million based on the July 20 closing price of $113.60. Of the total, 1,488 shares were withheld by the company to cover tax obligations from restricted stock unit settlements, while 360 shares were sold under a pre-arranged Rule 10b5-1 trading plan established in September 2025. Synaptics, a fabless semiconductor company with trailing-twelve-month revenue of $1.2 billion and a net loss of $48.1 million, has seen its stock rise 72% over the past year, driven in part by growth in edge AI and robotics, where it now has more than 35 customers.
Synaptics Strategy Chief Disposes of Shares to Cover Tax Bill, Retains $7 Million Stake
Synaptics Senior Vice President and Chief Strategy Officer Satish Ganesan disposed of 1,465 shares of common stock on July 17, 2026, in a non-discretionary transaction to cover tax obligations related to the settlement of restricted stock units. The shares were valued at about $167,000 based on an execution price of $114.05 per share, reducing his direct equity holdings by 2%. Ganesan continues to hold 61,834 shares directly, worth approximately $7.1 million at the market close. The company is pivoting toward the internet of things and edge computing, with core IoT sales jumping 31% last quarter and full-year IoT revenue expected to exceed $385 million, a more than 40% increase.
Synaptics insider sells 1,502 shares, mostly for tax withholding
Synaptics Senior Vice President Lisa Bodensteiner sold 1,502 shares for approximately $172,000, according to an SEC filing. Of the total, 1,052 shares were withheld to cover tax obligations on restricted stock units, while 450 shares were sold under a prearranged Rule 10b5-1 trading plan. The transactions reduced her direct holdings by 2% to 60,487 shares. The stock has returned 72% over the past year, and the company recently reported fiscal third-quarter revenue of $294.2 million with non-GAAP earnings per share of $1.09.
ON Semiconductor to Acquire Synaptics in $7 Billion All-Stock AI Edge Bet
ON Semiconductor announced a definitive agreement to acquire AI edge solutions company Synaptics in an all-stock transaction valued at $7 billion. The deal aims to expand ON's capabilities from power and sensing technology into connected compute, targeting the physical AI market. Management expects the acquisition to add to earnings per share within 18 months of closing and to generate $200 million in synergies, primarily from operating expenses. The combined company is projected to have revenue of $7.8 billion, gross profit of $3.3 billion, and operating profit of $1.7 billion, with a total addressable market expanded by $30 billion to $243 billion by 2030. The announcement triggered a sharp sell-off in ON Semiconductor shares as investors reassessed the company's strategic shift.
Synaptics to Report Fiscal 2026 Results on August 6 Without Conference Call
Synaptics Incorporated will release its fourth quarter and full year fiscal 2026 financial results on Thursday, August 6, 2026, after the market closes. Due to the pending transaction with onsemi, the company will not host a conference call to review the results or provide a forward-looking financial outlook. The press release will be available on Synaptics' investor relations website.
Synaptics leads smartphone chip rally with 75% YTD surge on Edge AI wins
Synaptics has surged 74.95% year to date, leading a basket of smartphone chip stocks poised to benefit from the next handset upgrade cycle driven by on-device AI, camera stacks, and RF complexity. The company reported fiscal Q3 2026 revenue of $294.20 million and an 8.17% beat on non-GAAP EPS of $1.09, with full-year Core IoT revenue expected to grow more than 40% year over year to over $385 million. Qualcomm, trading at a forward P/E in the low double digits, saw handset revenue fall 13% year over year to $6.024 billion but expects a bottom in Chinese handset revenues in Q3 FY26 and has authorized a $20 billion share repurchase program. Cirrus Logic delivered a 59.84% EPS beat at $1.95 in Q4 FY26, with full-year free cash flow surging 52.97% to $635.76 million, and is developing next-generation camera controllers to increase Apple silicon content per device. Qorvo posted a 39.48% EPS beat at $1.69 and a 670-basis-point gross margin expansion to 52.6%, while Skyworks Solutions, down 22.29% over the past year, reported a 10.10% EPS beat at $1.15 and expects a multi-generational Android design win to generate over $1.00 billion in revenue through 2030.
Pomerantz Law Firm Investigates ON Semiconductor Over Synaptics Acquisition
Pomerantz LLP is investigating claims on behalf of investors of ON Semiconductor Corporation regarding potential securities fraud or unlawful business practices. The investigation follows ON Semiconductor's June 25, 2026 announcement of an all-stock agreement to acquire Synaptics Incorporated, with Synaptics shareholders to receive 1.35 shares of ON Semiconductor stock per share, representing an enterprise value of around $7 billion. ON Semiconductor's stock price fell $28.09 per share, or 23.66%, to close at $90.65 per share on June 26, 2026. Investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, extension 7980.
Cantor Fitzgerald Raises ON Semiconductor Price Target to $110
Cantor Fitzgerald raised its price target on ON Semiconductor Corporation to $110 from $100 while maintaining a Neutral rating. Analyst Matthew Prisco cited the AI infrastructure buildout as a durable generational semiconductor cycle, projecting industry revenue could reach roughly $3 trillion by 2029 and potentially exceed $3.5 trillion by 2030. Separately, ON Semiconductor agreed to acquire Synaptics in an all-stock deal valued at about $7 billion, its largest acquisition, with Synaptics shareholders receiving 1.350 Onsemi shares per Synaptics share, a 19% premium based on the 10-day volume-weighted average closing prices. CEO Hassane El-Khoury said the deal would speed Onsemi's push into physical AI and expand its addressable market by $30 billion to $243 billion by 2030.
ON Semiconductor shares plunge 21% after $7 billion Synaptics deal
ON Semiconductor shares fell roughly 21% on Friday, their worst single-day loss since 2020, after the chipmaker announced its largest-ever acquisition, a $7 billion all-stock deal for Synaptics. The transaction values Synaptics at a 19% premium based on recent average prices, with Synaptics shareholders set to own about 12% of the combined company, diluting existing ON Semiconductor investors. CEO Hassane El-Khoury framed the move as an entry into physical AI, combining ON Semiconductor's power and sensing hardware with Synaptics' edge AI and wireless connectivity to target a $243 billion addressable market by 2030. The company projects roughly $200 million in annual cost savings, but analysts caution that meaningful earnings benefits may not materialize until 2028 or 2029, well after the expected mid-2027 closing. Synaptics shares gained about 3% on the day.
ON Semiconductor to acquire Synaptics in $7 billion all-stock deal, shares plunge 23.7%
ON Semiconductor shares plummeted 23.7% after the company announced it will acquire Synaptics in an all-stock deal valued at nearly $7 billion. Rocket Companies gained 1.5% after NASA said the company will provide launch services for two missions researching the Sun's energy input into Earth. Sandisk tumbled 10.5% and Seagate Technology fell 12.2% amid a broader tech decline.
S&P 500 Futures Slip as Core PCE Stays at 3.4%, Keeping Fed Cautious
US stock futures are pointing lower with E-mini S&P 500 contracts down about 0.3% and Nasdaq-100 futures weaker by roughly 1.2% as investors weigh solid spending against stubborn inflation. Core PCE inflation sits at 3.4% year over year, while real personal spending grew 0.3% and incomes rose 0.7% in May, suggesting households are still spending. The key question is whether the Federal Reserve will keep rates higher for longer, putting pressure on growth stocks and housing-related sectors. Among top movers, Moderna jumped 12.59% after Piper Sandler raised its price target, ServiceNow climbed 9.85% after being dropped from the Russell Top 50 Index, and Snowflake advanced 9.64% after Russell index changes added it to midcap growth benchmarks. On the losing side, ON Semiconductor fell 23.66% after announcing a roughly US$7 billion all-stock acquisition of Synaptics, Bloom Energy declined 18.49% as multiple Russell index changes shifted the stock between benchmarks, and Western Digital dropped 13.17% following Russell index rebalancing. On the radar, earnings from NIKE and Constellation Brands are due alongside fresh readings on US spending and inflation, with NIKE reporting Q4 results on Tuesday and Constellation Brands posting Q1 results after the market close on Tuesday.
Micron, Qualcomm, ON Semi dominate tech headlines this week
The tech sector remained in focus this week, with Micron's blowout earnings report cheering investors. Micron shares surged 15.7% on Thursday after its third-quarter results and guidance topped Wall Street expectations by a wide margin, prompting several brokerages to raise their price targets. Qualcomm presented a comprehensive data center strategy during its Investor Day, revealing Meta Platforms and Microsoft as early customers and setting a revenue target of more than $15 billion by fiscal 2029. ON Semiconductor announced an all-stock deal worth $7 billion to acquire Synaptics, but its shares closed 24% lower on Friday. Other notable developments included Apple raising prices on MacBook and iPad models due to memory shortages, Microsoft planning to increase Xbox console prices worldwide from August 1, and Oracle reducing its workforce by about 21,000 employees over the past year as part of a restructuring effort.
Nvidia, ON Semiconductor, Intel: Three beaten-down AI chip stocks to consider
Three beaten-down AI chip stocks—Nvidia, ON Semiconductor, and Intel—stand out as potential buys amid the sector's sell-off. Nvidia shares have fallen about 18% from their 52-week high, trading at roughly 29 times earnings after reporting fiscal first-quarter revenue of $81.6 billion, up 85% year over year, with data center revenue climbing 92% to $75.2 billion. ON Semiconductor tumbled more than 23% on Friday to around $91 after announcing a $7 billion all-stock acquisition of Synaptics, its largest deal ever, even as its first-quarter revenue rose 5% and its AI data center business more than doubled. Intel's stock has surged from a 52-week low near $19 to around $128, driven by CEO Lip-Bu Tan's turnaround, with first-quarter revenue up 7% to $13.6 billion and a reported win with Tesla for its advanced 14A manufacturing process, though it remains profitable only on a non-GAAP basis and its foundry business lost $2.4 billion. Among the three, Nvidia appears the most compelling due to its dominant, fast-growing business and discounted valuation, while Intel is the most speculative and ON Semiconductor pairs a cyclical recovery with integration risk.
Netflix stock bounces back, Moderna surges post–investor day, ON Semi plummets
Moderna shares surged on Friday, making it one of the top performers in the S&P 500, after the company held its investor day and outlined plans beyond its COVID vaccine business, focusing on next-generation approaches to treat autoimmune diseases. Netflix stock traded higher in what could be a relief bounce after shares recently hit their lowest level in about 20 months, driven by competition, engagement questions, and concerns over potential M&A needs, with the stock nearly halved over the last year. ON Semiconductor shares plummeted after the company announced a nearly $7 billion all-stock deal to buy Synaptics, aiming to expand into physical AI and boost its long-term market opportunity, though investors are digesting the details of the acquisition.
Investing.com’s stocks of the week: Micron surges on earnings, tech selloff hits Apple, ON Semi, Strategy
Micron Technology surged more than 15% on Thursday after a blowout fiscal third quarter, with EPS of $25.11 on revenue of $41.46 billion, both well above consensus, and fourth-quarter revenue guidance of $49 to $51 billion also beating estimates. Apple fell 6.4% over the week on reports of 15% to 25% price hikes on Macs, iPads, and accessories, which Morgan Stanley called unprecedented in at least 15 years. ON Semiconductor plunged 24% on Friday after announcing an all-stock acquisition of Synaptics for about $7 billion, a roughly 19% premium, leading TD Cowen to downgrade the stock to Hold. Strategy tumbled more than 28% as Bitcoin slid below $60,000, renewing balance-sheet concerns. Defensive rotation boosted large-cap pharma, with Johnson & Johnson up 9.4%, Merck gaining 11.4%, and Eli Lilly jumping 7.6%.
TD Cowen downgrades onsemi to Hold after Synaptics deal
TD Cowen downgraded onsemi to Hold from Buy, arguing that the planned all-stock acquisition of Synaptics complicates the investment thesis despite long-term confidence in automotive and datacenter growth. The brokerage lowered its price target to $110 from $115, citing limited upside after this year's sharp rally. The deal, announced late Thursday, values Synaptics at an enterprise value of about $7 billion and is expected to close in mid-2027. TD Cowen believes the acquisition adds strategic breadth but dilutes onsemi's pure-play narrative, introducing greater exposure to consumer and wireless markets. The firm noted limited detail on revenue synergies and expects meaningful earnings accretion only in 2028 or 2029, with roughly 12% equity dilution for existing shareholders.
On Semiconductor to acquire Synaptics in $7 billion all-stock deal
On Semiconductor announced an all-stock deal to acquire Synaptics for nearly $7 billion, its largest acquisition ever, which it estimates will increase its total addressable market by $30 billion. On Semiconductor shares fell more than 15% premarket, while Synaptics rose 2.5%. Memory stocks declined, with Micron down more than 4.5% and Sandisk off a similar amount, while Seagate Technology and Western Digital each fell about 3.5%. Chipmakers also dropped, with Arm Holdings and Marvell Technology down about 4%, Advanced Micro Devices off 3.5%, and Intel tumbling 3%, partly weighed by a report that OpenAI may delay its IPO until 2027. Rocket Lab rose 1.5% after NASA selected it to provide launch services for two missions studying the Sun's energy input and ice clouds. Apple bucked the trend, edging up 0.5% after its worst day in over a year. Energy stocks fell as oil prices dropped more than 3% to below $70 per barrel, with APA Corporation down more than 1.5% and Diamondback Energy, Constellation Energy, and Occidental Petroleum each off about 1%.
ON Semiconductor to acquire Synaptics in $7B all-stock deal
ON Semiconductor agreed to acquire Synaptics in an all-stock deal valued at $7 billion, sending ON shares down 13% while Synaptics rose 6%. Under the fixed exchange ratio, Synaptics shareholders will receive 1.35 ON shares for each Synaptics share, and the combined company targets a total addressable market of $243 billion by 2030. The transaction is expected to be accretive to adjusted earnings within 18 months of closing and generate $200 million in annual synergies. Separately, Titan Mining surged 42% after the U.S. Army awarded it long-term leases to build a graphite purification facility at two military bases, part of a broader Pentagon push for domestic critical-minerals processing. Wise Group gained 7% on plans for a share buyback exceeding $500 million and reiterated medium-term targets of 15%–20% net revenue CAGR and a 15%–20% income before tax margin. Nano-X Imaging dropped 12% after reporting first-quarter revenue of $4.3 million, missing estimates, and withdrawing its 2026 outlook due to going-concern uncertainty.