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Dec 26, 2020
Synaptics Q2 2021 Earnings Report
Synaptics delivered record non-GAAP gross margins, net income, and EPS, with revenues exceeding guidance.
Key Takeaways
Synaptics reported strong Q2 2021 results, with revenue at $357.6 million and record non-GAAP EPS of $2.30. The company's diversification strategy into IoT and PC is driving growth, with both businesses achieving record revenue.
Revenue reached $357.6 million.
GAAP gross margin was 42.1 percent.
Non-GAAP gross margin hit a record of 52.1 percent.
Non-GAAP diluted earnings per share reached a record of $2.30.
Forward Guidance
For the third quarter of fiscal 2021, Synaptics anticipates continued strength in its PC business and expects its IoT business to outperform typical seasonality, aided by a robust pipeline of design wins. Gross margins are expected to remain strong, and the revenue mix is expected to continue shifting toward IoT.
Positive Outlook
- PC business is expected to show continued strength.
- IoT business is expected to outperform typical seasonality.
- Robust pipeline of design wins is expected to aid IoT performance.
- Gross margins are anticipated to remain strong.
- Revenue mix is expected to continue shifting toward IoT.
Challenges Ahead
- Supply-chain constraints likely limit further upsides in the near-term.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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