Morningstar

Morningstar, Inc.

Equity Bottom-Up

Synaptics has had a volatile few months after announcing the departure of CEO Rick Bergman in March and the second-quarter results continued in that vein as sales missed the low end of guidance. Macro conditions have not been helpful but despite a worse than expected outlook for the fiscal fourth quarter, we believe there are some signs of stabilization in the market (though we await signs of stability in the C-suite). Results pointed to soft near-term mobile demand but commentary suggested some…

<p>After the close of markets on March 15, Synaptics announced the immediate departure of CEO Richard Bergman, who had served in the role since joining the firm from AMD in 2011. His departure was preceded by the early February exit of CFO Wajid Ali, who was replaced by the internal promotion of Kermit Nolan. The current nonexecutive chairman, Nelson Chan, has stepped into the executive chairman role to facilitate a smooth business transition as the firm begins to search for new leadership…</p>

United States

Synaptics Incorporated develops custom-designed user interface solutions.  The Company's solutions enable people to interact with a variety of mobile computing and communications devices.  Synaptics offers a touch-sensitive pad that senses the position of a person's finger on its surface to provide screen navigation, cursor movement, and a platform of interactive input.

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