secwatch.observer — SEC 8-K summary
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Issuer:     SYNAPTICS Inc (SYNA)
CIK:        0000817720
Form:       8-K
Filed at:   2023-05-03T23:59:59+00:00
Accession:  0000950170-23-017228
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Synaptics Q3 FY2023 revenue $326.6M, non-GAAP EPS $1.89; Q4 guidance weak, buyback boosted by $500M
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- Q3 revenue $326.6M, GAAP EPS $0.26, non-GAAP EPS $1.89; results above expectations despite economic headwinds.
- Q4 FY2023 guidance: revenue $210M-$240M, GAAP gross margin 44-47%, non-GAAP gross margin 56-58%.
- Board authorized $500M increase in share repurchase program; cumulative authorization now $2.3B with $977M remaining.
- Management cites customer inventory correction and supply chain slowdown; implementing spending controls.
- Design activity increasing in core wireless, automotive, and video conversion products, expected to drive future growth.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/817720/000095017023017228/0000950170-23-017228-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/817720/000095017023017228/syna-20230503.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-017228

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