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SYNA News
SYNA Events
Qnity Electronics Appoints Ken Rizvi as CFO
Qnity Electronics (Q) has appointed Ken Rizvi as SVP and CFO, effective October 1. Michael Goss, who has been serving as interim CFO, will assume the role of Qnity's Vice President, Finance and Controllership, at that time. Rizvi most recently served as CFO of Synaptics (SYNA).
Synaptics CFO Ken Rizvi Resigns
Synaptics announced that Ken Rizvi has resigned from his position as CFO, effective immediately, to pursue another opportunity. Rizvi will remain employed in an advisory role through September 30 to assist with the transition of his responsibilities. Rahul Patel, president and CEO, will serve as the principal financial officer through the closing of the merger.
Synaptics Q4 Revenue at $308M, Exceeds Expectations
Reports Q4 revenue $308M, consensus $305.35M. "Synaptics completed another strong fiscal year, with sustained growth and momentum across the business," said Rahul Patel, Synaptics' President and Chief Executive Officer. "We delivered solid financial results in fiscal 2026, with revenue increasing 11%, driven by 43% growth in our Core IoT portfolio. In the fourth quarter, revenue, gross margin, and non-GAAP EPS were all above the mid-point of our guidance, and non-GAAP operating margin reached 20%, our highest level in 13 quarters and an improvement of 300 basis points year-over-year. Performance across all major product categories was in line with expectations, with continued strength in Core IoT driving upside during the quarter."
Deutsche Bank Downgrades Synaptics to Hold with $125 Price Target
Deutsche Bank downgraded Synaptics to Hold from Buy with an unchanged price target of $125 after the company reached an agreement to be acquired by On Semi. The deal implies a Synaptics value in the $140-$160 per share range and says much of the anticipated value now reflected in the acquisition price.
Dow Jones Falls 44.51 Points Amid Weakness in Tech Stocks
The major averages closed fractionally lower amid another wave of weakness hitting large-cap technology and semiconductor stocks. Of note, President Donald Trump in a social media post threatened a 100% tariff on European countries imposing a digital services tax on American companies.Outside of technology, falling oil prices are acting as a stabilizing force. Crude has moved toward multi-month lows as supply concerns continue easing, helping reduce some inflation pressure and potentially improving the broader economic outlook.Meanwhile, President Trump said on Truth Social that Iran shot "at least four" drones at ships crossing the Strait of Hormuz, with the president saying the U.S. "knocked down" three drones, while one of the drones "solidly" hit the upper deck of a large cargo ship. The drone attacks were "a foolish violation" of the countries' ceasefire agreement, he added.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:On SemiSynapticsin a $7B all-stock transactionFedEx FreightreportedOpenAI is leaning toward waiting until next year for its IPO,Troy Rohrbaugh has become the leading contender to succeed Jamie Dimon as CEO of JPMorgan,Qualcommexecutive vice president Durga Malladithat the company plans to use the new chip technology it created for data centers in smartphones2. WALL STREET CALLS:KeyBancNikeon longer than expected turnaroundCrocsto Overweight at Piper SandlerRobinhoodwith a Buy at BTIGAMHto Outperform at BMO CapitalVisteonto Neutral at Baird3. AROUND THE WEB:Boeinghas secured a $3.62B order from China Southern Airlines for freighter aircraft, including two 777F and five 777-8F models, along with options for three additional 777-8Fs, Bloomberg reportsUnileveris exploring a bid for Thorne, the supplements maker valued at up to $4B, and is among several bidders circling the brand, which has been put up for sale by its private equity owner L Catterton, FT reportsMetais working to replace human moderation with generative AI, FT saysGoogleis asking publishers that test new AI features in Google News to grant it broad rights to their content, including to potentially train AI models, The Information reportsVolkswagenCEO Oliver Blume is targeting a major restructuring that could include cutting up to 100,000 jobs, closing four German plants, and reducing planned five-year investment by about 15% to just over EUR130B, Reuters reports4. MOVERS:FuelCellincreased after Jefferiesthe stock to BuyAcadia Pharmaceuticalsgained after announcing Daybu wasin the EU by CHMPInfleqtionwas higher after Wedbushcoverage of the stock with an Outperform ratingBraksemwas lower in New York after filing for anCapricorfell afterfrom its HOPE-2 open-label extension study and announcing the FDA is planning to convene an advisory committee meeting to discuss the company's BLA for Deramiocel5. EARNINGS/GUIDANCE:Beyond Airand narrowed its guidance for FY26American Outdoor Brands, with CEO Brian Murphy commenting, "we are encouraged by the strength of our brands and the favorable consumer demand reflected in our POS results"Wisereportedand provided guidance for FY27Cineverse, with EPS and revenue higher year-over-yearApogee Enterprises, with CEO Donald Nolan commenting, "Our results for the quarter reflect solid execution as our team effectively navigated a dynamic operating environment"INDEXES:The Dow fell 44.51, or 0.086%, to 51,876.11, the Nasdaq lost 60.99, or 0.24%, to 25,297.62, and the S&P 500 declined 3.47, or 0.047%, to 7,354.02.
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