This Tech Stock Could Be a Top Growth Pick This Year
Synaptics (NASDAQ: SYNA) looks all set to break out in 2021 on the back of impressive catalysts in the mobile and Internet of Things (IoT) businesses, and its latest fiscal 2021 second-quarter results indicate that it is not going to disappoint.
Share prices for the human interface solutions supplier soared in the double-digit percentages after it released its quarterly report. The company beat Wall Street's expectations and issued solid guidance. Let's take a closer look at what's working for Synaptics, and why the stock could zoom higher as the year progresses.
Synaptics' revenue fell 8% year over year in the fiscal second quarter to $358 million, while non-GAAP earnings jumped to $2.30 per share from $2.04 per share in the prior-year period. The company's top line declined, but largely because its prior-year period's revenue included a contribution from the mobile LCD TDDI business that it divested in 2020.
Source Fool.com
