Near-Term Mobile and Internet of Things Markets Create Headwind for Synaptics; Lowering FVE to $55
Synaptics reported fiscal second-quarter sales and earnings largely in line with our forecast and management guidance. However, guidance for the upcoming quarter was slightly below our prior expectations, with revenue expected to decline by more than 8% year over year at the midpoint of guidance. After reviewing our long-term forecasts for the firm, we are lowering our fair value estimate to $55 from $64. Despite our downward revision, shares traded sideways afterhours and we continue to view Sy...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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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