Margins Pose a Near-Term Challenge For Synaptics Following Tepid Fiscal First-Quarter Results
Synaptics reported fiscal first-quarter results that showed improvement over last quarter’s multiyear lows. Touch and display driver integrated, or TDDI, products, which we believe have the potential to allow Synaptics to distance itself from competition, reached the 10% threshold of total quarterly revenue. However, CEO Richard Bergman noted the gross margin profile of TDDI is closer to that of display drivers (30%) than historical corporate average (40%). We note this point came as a significa...Synaptics is a developer and supplier of custom-designed human interface semiconductor product solutions that enable people to interact with a variety of mobile computing, communications, entertainment, and other electronic devices. The company targets the markets for smartphones, tablets, personal computer, products, Internet of Things, products and other select electronic devices, including devices in automobiles. The company's family of products includes: ClearPad?, ClearView?, TouchView?, Natural ID?, TouchPad?, SecurePad?, ClickPad?, ForcePad?, AudioSmart?, VideoSmart?, ImagingSmart?, and other product solutions.
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