Synaptics overweight rating reiterated at JPMorgan

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Synaptics shares fall after fiscal Q3 sales miss

Shares of Synaptics Inc. fell nearly 6% late Wednesday after the maker of laptop touchpads and other human-interface hardware and software narrowly beat forecasts for per-share adjusted earnings and reported sales below expectations. Synaptics said it lost $13.7 million, or 40 cents a share, in the fiscal third quarter, versus earnings of $4.5 million, or 13 cents a share, in the year-ago period. Adjusted for one-time items, the company earned 92 cents a share, compared with $1.27 a share a year ago. Revenue fell 11% to $394 million, from $444 million a year ago. Analysts polled by FactSet had expected adjusted earnings of 91 cents on sales of $402 million. Synaptics ended the regular trading day up 1.8%.

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