Synaptics has maintained a perfect four-quarter earnings beat record and trades at a low price-to-sales multiple relative to semiconductor peers, but high short interest of 20% and a quality score just below the minimum threshold reflect real concerns about operating profitability and return metrics.
Thesis pillars
- Quality Below Floor Concern→Stable
- High Short Interest Signal↑Improving
- Four Quarter Earnings Beat Record↓Deteriorating
- +1 more pillar — see the Why tab for full reasoning
Pillars as of Jul 3, 2026, based on the 10-K filed Aug 10, 2026
Synaptics Incorporated (SYNA) Stock Analysis
Technology · Semiconductors
Sell if holding. Engine safety override at $117.91: Quality below floor (2.8 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 5.3/10. Specifically: Below-average business quality.
Synaptics is a fabless semiconductor company that designs Edge AI processors (Astra), wireless connectivity, touch, biometric, video and audio chips for OEMs in IoT, PC, automotive and mobile markets. It sells through OEMs' contract manufacturers, ODMs and distributors, relying... Read more
Sell if holding. Engine safety override at $117.91: Quality below floor (2.8 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 5.3/10. Specifically: Below-average business quality. Chart setup: No clear chart pattern; technical signals are mixed. Score 5.3/10, moderate confidence.
Passes 4/8 gates (positive momentum, clean insider activity, semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio and earnings proximity 6d<=7d. Suitability: aggressive.
About Synaptics Incorporated
About Synaptics Incorporated
Synaptics agreed on June 25, 2026 to merge into a subsidiary of ON Semiconductor, with each Synaptics share converting into 1.350 shares of onsemi common stock and closing expected in mid-2027. The San Jose fabless chip designer employed approximately 1,700 people in June 2026, 70% of them in Asia Pacific, and held 2,344 active patents and 661 pending applications worldwide.
Synaptics designs Edge AI processors under the Astra brand, wireless connectivity chips covering Wi-Fi, Bluetooth, Zigbee and Thread, touch controllers, Natural ID fingerprint sensors, and DisplayLink video interface products. It groups sales into Core IoT, Enterprise and Automotive, and Mobile applications markets. Products reach OEMs mostly through their contract manufacturers, ODMs, supply chain partners and distributors, which place purchase orders and take title on delivery. The company does not run its own fabrication, assembly or test facilities: third-party wafer manufacturers and package-and-test processors, predominantly Asia-based, build its silicon, and Synaptics gives contract manufacturers six-month rolling forecasts. In January 2025 it acquired non-exclusive Wi-Fi technology licenses and engineers from Broadcom to extend its wireless roadmap. The 10-K notes that average selling prices have historically declined and that long-term capacity agreements could create significant inventory write-downs if end-customer demand falls.
Show full overview
The pending merger shapes near-term risk. Synaptics would owe onsemi a $235.0 million termination fee under specified circumstances such as accepting a superior proposal, while onsemi would owe $320.0 million if regulatory approvals fail by the June 25, 2027 end date, which can be extended in three-month increments. Because the consideration is a fixed share count, the 10-K says the value to stockholders has fluctuated with onsemi's stock price. An August 2026 Form 8-K disclosed that Chief Financial Officer Ken Rizvi resigned and that the company would not search for a successor, with CEO Rahul Patel serving as principal financial officer through closing; in October 2026 the principal accounting officer also resigned.
See also: Technology · Semiconductors
From Synaptics Incorporated's most recent 10-K filing, extracted October 18, 2026.
Recent developments
updated 2026-10-30Recent Developments — Synaptics Incorporated
Material events (past 30 days)
- 8K Oct 15, 2026 MEDIUM Item 5.02: VP, Corporate Controller and Principal Accounting Officer Esther Song resigned effective October 28, 2026 to pursue other opportunities; no disagreement cited. VP Finance Kermit Nolan appointed Principal Accounting Officer from that date.
Latest news
- NEWS Jorjin and Synaptics Showcase J10a Industrial AR Glasses at Tech Day 2026 — fiscal.ai Oct 30, 2026 neutral
- NEWS Synaptics Announces General Availability of Coralboard Edge AI Development Board via DigiKey — fiscal.ai Oct 20, 2026 positive
- NEWS Synaptics Announces Availability Of Its Synaptics Coralboard For Purchase Through DigiKey — benzinga Oct 20, 2026 positive
- NEWS Synaptics Launches Astra SR200 Series of xMCUs for Edge AI — fiscal.ai Oct 20, 2026 positive
- NEWS Cirrus Logic Confirms Past Acquisition Proposals For Synaptics, Says It Is No Longer Pursuing A Deal — benzinga Oct 13, 2026 neutral
Generated 2026-10-30T12:27:49Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- MEDIUMSupplierfew sources of supply10-K Item 1: 'Our reliance on these parties exposes us to vulnerability owing to our dependence on a few sources of supply.'
- MEDIUMGeographicAsia-based contract manufacturers and fabricators10-K Item 1: 'Our third-party contract manufacturers and semiconductor fabricators are predominantly Asia-based organizations.'
Material Events(8-K, last 90d)
- 2026-10-15Item 5.02MEDIUMVP, Corporate Controller and Principal Accounting Officer Esther Song resigned effective October 28, 2026 to pursue other opportunities; no disagreement cited. VP Finance Kermit Nolan appointed Principal Accounting Officer from that date.SEC filing →
- 2026-08-21Item 5.02HIGHCFO Ken Rizvi resigned effective immediately on August 20, 2026 for a new opportunity, advising through September 30; no disagreement cited. No successor search due to the pending onsemi merger; CEO Rahul Patel serves as principal financial officer through closing.SEC filing →
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
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Rating Breakdown
2 floor-breakers
Ranks in the bottom of its industry peers on the composite signal. Better names in the same sector exist.static
Unprofitable operations — net margin -41.0%. Quality floor flags this regardless of sector context.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. Engine safety override at $117.91: Quality below floor (2.8 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 5.3/10. Specifically: Below-average business quality. Chart setup: No clear chart pattern; technical signals are mixed. Prior stop was $115.87. Score 5.3/10, moderate confidence.
Analyst target $112.52 reached (−4.6% from $117.91); no take-profit level is published. Prior stop was $115.87. Stop-loss: $115.87.
Target reached (-4.6% upside); Quality below floor (2.8 < 4.0).
Synaptics Incorporated trades at a P/E of N/A (forward 17.9). TrendMatrix value score: 7.2/10. Verdict: Sell.
19 analysts cover SYNA with a consensus score of 3.6/5. Average price target: $129.
What does Synaptics Incorporated do?Synaptics is a fabless semiconductor company that designs Edge AI processors (Astra), wireless connectivity, touch,...
Synaptics is a fabless semiconductor company that designs Edge AI processors (Astra), wireless connectivity, touch, biometric, video and audio chips for OEMs in IoT, PC, automotive and mobile markets. It sells through OEMs' contract manufacturers, ODMs and distributors, relying on Asia-based third-party foundries. On June 25, 2026 it agreed to merge with onsemi at 1.350 onsemi shares per Synaptics share, with closing expected in mid-2027.