Synaptics Incorporated (SYNA) Stock

Synaptics Incorporated (SYNA) is a Technology stock trading at $97.95 (as of 2026-08-20), with a market capitalization of $3.78B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Synaptics Incorporated designs, markets, and sells semiconductor solutions for applications including audio and voice processing, display and video processing, connectivity, imaging, and human-interface features. Its offerings include products such as audio/video and connectivity technology, fingerprint-based identification, and touch and related touch-display interaction components used in devices like PCs, mobile devices, vehicles, and other consumer and commercial systems.

Understand Synaptics Incorporated: how it makes money

Synaptics develops and sells semiconductor product solutions, such as voice and audio processing, connectivity, video transmission, video platforms, and imaging and fingerprint identification, and it makes money by selling these solutions to device makers and other customers worldwide.

Even with a 45.3% gross margin, Synaptics is currently at a -4.3% operating margin, so the profit model is highly dependent on turning product gross profit into operating income while scaling revenue tied to its Core Internet of Things activity (Core Internet of Things product revenue, 0.08 USD_B) and managing working capital (Days sales outstanding, 50; Days of inventory, 106).

Business quality (Weak): Good visibility into gross margin, operating margin, and several operating mix metrics, but the provided data does not include a clean, mutually exclusive breakdown of official reportable segments that sums to total revenue.

Bull case

Core Internet of Things is a central operating theme: The company tracks Core Internet of Things product revenue (0.08 USD_B) and also reports Core Internet of Things funnel (3.0 USD_B) and revenue mix (30%).
Broad product set across device experiences: Synaptics offers multiple semiconductor solution categories (AudioSmart, ConnectSmart, DisplayLink, VideoSmart, and ImagingSmart, plus Natural ID fingerprint identification), which can support demand across different device types.

Bear case

Loss-making operations despite solid gross margin: Gross margin is 45.3% while operating margin is -4.3%, suggesting operating costs are currently outpacing gross profit.
Concentration and balance-sheet timing risks: Revenue concentration from a single customer is 12%, and operating cash dynamics could be affected by Days sales outstanding (50) and Days of inventory (106).
No reported virtual reality revenue contribution: Virtual reality revenue is reported as 0.0 USD_B in the provided data.

Valuation — source: SEC EDGAR (first-party)
Price	$97.95
Market Cap	$3.78B
Price / Book	4.07
Price / Sales	3.27
FCF Yield	4.4%
DCF Value (model)	$0.94
DCF Upside vs Price	-99.0%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$1.20B
Net Margin	-41.0%
Revenue Growth (YoY)	11.4%
EPS Growth (YoY)	934.4%
FCF Growth (YoY)	-12.7%

Financial Health — source: SEC EDGAR
Altman Z-Score	2.94 (grey)
Piotroski F-Score	4/9 (moderate)

Valuation vs Sector & Industry
Sector P/E (Technology)	33.9
Industry P/E (Electronic Equipment)	39.4

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	AMERIPRISE FINANCIAL INC ($528.64M)
Institutional Holders Tracked	10

Company
Sector	Technology
Industry	Electronic Equipment
CEO	Rahul G. Patel
Employees	1,716
Country	US
IPO Date	2002-01-29

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Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.