Synaptics Incorporated

The grade, in three tenses

Headline 4.5 out of ten, 9 of 9 metrics filed: past 5.3 out of ten, present 3.8 out of ten, future 4.7 out of ten. The past asks what it actually did, the present what it is doing right now, the future what it is set up to do next.

The nine metrics

• Surviving crises (past): 7.6 out of ten. No warning events in its filings since 2017. 76th percentile among 99 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
• Track record (past): 2.5 out of ten. -3.9% a year over 10 filed years; profitable in 6 of 10. 25th percentile among 93 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
• Shareholder treatment (past): 7.6 out of ten. Share count shrank 1.1% a year. 52% of cash flow returned. Insiders: 58 sales, 0 purchases. 76th percentile among 67 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
• Financial health (present): 4.5 out of ten. ROE -53%: lost 53¢ per shareholder dollar. Leverage 56%: owes 56¢ per asset dollar. 45th percentile among 95 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
• Industry position (present): 4.2 out of ten. bottom 42% of 97 in its family; net margin -41%. 42nd percentile among 97 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
• Leadership (present): 1.8 out of ten. bottom 18% of 66 in its family for leadership; chief executive since 2025. 18th percentile among 66 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-09).
• Room to expand (future): 5.5 out of ten. top 46% of 94 in its family for room to expand. 54th percentile among 94 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
• Growth drivers (future): 5.3 out of ten. top 47% of 93 in its family for growth drivers. 53rd percentile among 93 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).
• Expectations vs reality (future): 2.3 out of ten. bottom 23% of 88 in its family for expectations against reality. 23rd percentile among 88 sector filers. A production reading, recomputed from the filings on every data build (read from EDGAR 2026-10-12).

The filing record

Newest annual report: Form 10-K filed 2026-08-10 for the period ended 2026-06-27 (on EDGAR). Newest quarterly report: Form 10-Q filed 2026-05-07 for the period ended 2026-03-28 (on EDGAR). Newest results release: Form 8-K filed 2026-08-06 (on EDGAR). Newest filing: Form PREM14A, 2026-10-08. Filings on record since 2001. Read from EDGAR 2026-10-12.

How the company works

Read from its Form 10-K filed 2026-08-10.

The people

Rahul Patel has been president and chief executive since June 2, 2025. He came from Qualcomm Technologies, where he had held senior leadership positions since May of 2015, and before that from Broadcom, where he held leadership positions from 2002 through May 2015, ending as the head of its wireless connectivity group. He arrived after the previous chief executive departed on February 3, 2025, a gap the board covered by making its chair, Nelson C. Chan, executive chair while it searched. [1, 2, 3, 4]

Ken Rizvi had been chief financial officer since July 15, 2024, and filled in as interim chief executive from February 2025 until Patel arrived. He resigned as finance chief in August 2026 and stays in an advisory role through September 30, 2026. The company decided not to look for a successor while the merger is pending, so the chief executive now also serves as principal financial officer. The other officers named are Lisa Bodensteiner, chief legal officer since November 2023; Satish Ganesan, who joined in November 2019 as chief strategy officer and since January 2026 runs the edge interface and sensing division; and Vikram Gupta, who came from Infineon Technologies and since January 2026 runs the edge compute and connectivity division. [5, 6, 7, 8, 9, 10, 11]

The board is long-serving. Nelson C. Chan has chaired it since October 2018 and has been a director since February 2007, and he stepped in as executive chair from February through December 2025 during the change of chief executive. Keith B. Geeslin has been a director since 1986, the year the company was incorporated in California. Seven of the eight nominees for the coming year are independent, everyone but the chief executive; Venkatesh Nathamuni, finance chief of Jacobs Solutions, joined the board and takes over as audit committee chair in October, and Jeffrey D. Buchanan is not standing for re-election. On the insider record this site holds, 37 people have filed for Synaptics, 14 of them in the last fifteen months. [4, 12, 13, 14, 15, 16, 17, 18]

At the end of fiscal 2026 Synaptics employed about 1,700 people across 15 countries: 21 percent in North America, 70 percent in Asia Pacific and 9 percent in Europe and the Middle East. Average tenure is about nine years. Research and development runs from the United States, with design and development teams in other countries working under the direction of the headquarters, and the filing names the United States, Taiwan, South Korea, Israel and India among its engineering centers. The head office in San Jose, California, is leased, about 111,000 square feet of it. [19, 20, 21, 22, 23, 24]

How it operates

Synaptics designs chips and the software that runs on them, for other companies to put inside their devices, and it sorts what it sells into three markets. Enterprise and Automotive covers PC touch pads, PC fingerprint sensors, video interface products and automotive products. Core IoT covers wireless connectivity and processors. Mobile covers touch and display for mobile phones. The wireless family spans Wi-Fi, Bluetooth, Bluetooth Low Energy, Zigbee, Thread, Matter, satellite positioning and other short-range radio for connected devices; the Astra family is a range of edge processors, from microprocessor units down to microcontrollers, built to run artificial intelligence work on the device itself instead of sending it away to a data center. [25, 26, 27, 28]

The older interface business is being pointed at new machines. Touch controllers, paired with the Astra processors, are sold for robots and humanoids, where the company says high-sensitivity sensing plus processing on the spot lets a machine read a texture or grip a delicate object. The video interface line, sold under the DisplayLink and DisplayPort names, connects devices to external screens and is broadening out of PC peripherals into humanoids, robotics and extended reality. In cars it sells integrated touch and display, local dimming and driver sensing. In phones it sells touch controllers for organic light emitting diode screens, behind more than 500 touch-related patents. [29, 30, 31, 32]

Its customers are the companies whose brand goes on the finished device, and it usually reaches them through their contract manufacturers, original design manufacturers and distributors, which it counts as customers too. The list is short. In fiscal 2026 one customer was 17 percent of revenue and another 11 percent, and two customers together made up 24 percent of what the company was owed by customers at the year end. Parts are designed into a platform rather than sold off a shelf, and the filing says that once a rival's part is designed in, changing suppliers costs enough time and money that a lost design can keep it out of that platform for years. [33, 34, 35, 36, 37]

Almost all of the money is billed in Asia. In fiscal 2026, by the billing location of its customers, China accounted for 536.8 million dollars of the 1,197.2 million total, Taiwan 363.4 million, Japan 128.3 million, South Korea 74.5 million, other countries 70.6 million and the United States 23.6 million. [38]

Synaptics owns no factories. It is fabless, meaning it designs its chips and hires others to make them: outside wafer makers turn the designs into silicon, package and test houses cut and enclose the parts, and contract manufacturers either build them into modules or ship them straight on to customers. Those partners are predominantly Asia-based. The company gives them six-month rolling forecasts rather than long-term volume guarantees, though after the shortages of past years it signed long-term capacity and pricing agreements with certain suppliers. Its silicon wafers, substrates and packaging materials come from a limited number of foreign suppliers, and its unconditional purchase commitments at the end of fiscal 2026 came to 25.7 million dollars. [39, 40, 41, 42]

The specifics

What it owns is a library of designs rather than a plant. As of June 2026 it held 2,344 active patents and 661 pending applications worldwide, expiring between 2026 and 2046, covering touch sensing, voice processing, secure biometrics, display drivers, docks and adapters, video interfaces, wired and wireless connectivity, edge computing and computer vision. It leans on copyright and trade secret law for its firmware and software, and argues that the mix of chip, firmware, software and mechanical hardware in one product, together with customer-specific customization and long design cycles, is itself a barrier to copying. [43, 44]

The filing names no competitor at all. It describes them by category instead: makers of microprocessors and microcontrollers, wireless connectivity providers, touch sensor and chip makers, providers of systems on modules and single board computers. It adds that China is actively promoting its own semiconductor industry with policy and investment, which along with trade barriers may restrict its participation in that market. Trade policy reaches it directly too: the filing notes that in January 2026 the US government put a 25 percent tariff on certain imported semiconductors and chips not intended for use in the United States, while saying its own direct tariff exposure remains limited. [45, 46, 47, 48]

Synaptics was incorporated in California in 1986 and re-incorporated in Delaware in 2002; its shares have been listed on Nasdaq under the symbol SYNA since January 29, 2002, and its financial year ends on the last Saturday in June. The purchase of Conexant Systems in fiscal 2018 came with an environmental bill: it agreed to take on the cleanup of a property Conexant once owned, and is still paying to investigate and remediate it. In January 2025 it paid 200.3 million dollars in cash for parts of Broadcom's Wi-Fi business for the internet of things, buying non-exclusive licenses to three developed products and the right to eight more technologies on Broadcom's roadmap, to be delivered at various dates through May 2028, and taking on some of Broadcom's staff. [17, 49, 50, 51, 52]

On June 25, 2026 Synaptics agreed to be bought by ON Semiconductor, which the filing calls onsemi. A subsidiary of onsemi merges into Synaptics, Synaptics survives as a wholly owned subsidiary, and each Synaptics share becomes the right to 1.350 onsemi shares. The board approved it unanimously, and the filing says the deal is expected to close in mid-2027, subject to a stockholder vote, the Hart-Scott-Rodino waiting period and approvals under other antitrust and foreign investment regimes. Either side may walk away if it is not done by June 25, 2027, a date that can be pushed back up to three times by three months. If Synaptics accepts a better offer or its board changes its recommendation it owes onsemi 235.0 million dollars; if the deal dies on regulators onsemi owes Synaptics 320.0 million. Until it closes, the company is restricted in what it can buy, sell, borrow and repurchase. [53, 54, 55, 56, 57, 58, 59]

What drives growth, line by line

Revenue rose 11.4 percent in fiscal 2026 to 1,197.2 million dollars from 1,074.3 million, and the company credits Core IoT for most of the increase. [60, 61]

Enterprise and Automotive product applications. The largest line: 641.1 million dollars, 53.5 percent of revenue, up 5.1 percent, or 31.0 million, on the year. This is the PC and car side of the business, with touch pads, fingerprint sensors, video interface products and automotive products in it. The filing puts the increase down to higher unit sales, which it measures at 1.9 percent, a better product mix, and more license revenue from certain of its intellectual property. [26, 62, 63, 64]

Core IoT product applications. The fastest growing line: 389.7 million dollars, 32.6 percent of revenue, up 43.1 percent, or 117.3 million, from 272.4 million the year before. It holds the wireless connectivity and processor products. The company sold more units, up 25.8 percent, at higher average selling prices, up 8.0 percent, on the mix of what it sold, and says the figure includes the contribution from the Broadcom transaction. [26, 62, 65, 66]

Mobile product applications. The one line that fell: 166.4 million dollars, 13.9 percent of revenue, down 13.2 percent from 191.8 million. It is touch and display for mobile phones. The filing puts the fall down to lower average selling prices, down 8.1 percent, and less license revenue from its intellectual property. [26, 62, 67, 68]

Gross margin held flat at 44.7 percent of revenue. Research and development rose 35.0 million dollars to 381.8 million, mostly pay in shares: an 18 million dollar increase tied to awards granted to the Broadcom employees who came across, plus 10.6 million more in personnel costs and 3.9 million in project costs. Selling, general and administrative rose 18.0 million to 198.3 million, including 15.6 million more of share-based compensation and 10.9 million of professional fees for the onsemi deal. Restructuring costs fell to 3.3 million from 16.9 million, severance for the most part. The operating loss narrowed to 67.1 million dollars from 94.1 million. [69, 70, 71, 72, 73, 61]

The loss before tax was 79.4 million dollars. The year ended with a net loss of 490.8 million, and the difference is tax: a charge of 411.4 million dollars against a benefit of 65.7 million the year before, driven by 425.3 million of non-cash tax expense when the company set a full allowance against its US federal deferred tax assets, the future tax savings it had been carrying on the books, after three years of cumulative losses made it more likely than not that they would go unused. [72, 74, 75, 61]

Cash and cash equivalents ended fiscal 2026 at 442.5 million dollars against 391.5 million a year earlier, with operating activities generating 149.4 million; 254.8 million of that cash sat in foreign subsidiaries. Debt principal stood at 850.0 million dollars, maturing at various dates through December 2031, and 350.0 million was available and undrawn under a revolving credit facility. [76, 77, 78, 79]

What comes next, in the company's own words: the onsemi deal is expected to close in mid-2027; the company intends to keep building for edge and physical artificial intelligence, work it dates to 2017, when it began putting neural processing engines into its products; and it says average selling prices in its industry have historically declined and it expects that to continue. [55, 80, 81]

What the desk infers (inferred, not filed)

• The geography table follows the invoice, not the end user: the money billed in China and Taiwan mostly buys parts that leave again inside somebody else's product, so the table measures where devices are assembled more than where they are used. Because: Revenue by region is reported on the billing location of the customer, and those customers are largely the contract manufacturers, original design manufacturers and distributors that build for the brands. [34, 38] China and Taiwan were billed 536.8 million and 363.4 million dollars of the 1,197.2 million total in fiscal 2026, while customers billed in the United States accounted for 23.6 million. [38] Its contract manufacturers and semiconductor fabricators are predominantly Asia-based organizations. [40] The filing warns that because contract manufacturers often serve the same brand, a drop in demand at that one brand can cut revenue across several customer accounts. [82] Confidence 80 of 100. Wrong if: A disclosure of revenue by the location of end customers, or by final destination, that matches the billing-location table, or a statement that the customers billed in China and Taiwan sell the finished devices there.
• Much of Core IoT's 117.3 million dollar increase came from the Wi-Fi products bought from Broadcom rather than from the connectivity business Synaptics already had. Because: The company says the increase was inclusive of the contribution from the Broadcom transaction, and that average selling prices rose 8.0 percent on the mix of products sold. [66] It paid 200.3 million dollars in cash for the assets and closed on January 30, 2025, part way through the previous financial year, so fiscal 2026 is the first full year to carry them. [51] Research and development costs rose partly on an 18 million dollar increase in share-based compensation for awards granted to the Broadcom employees onboarded during the third quarter of fiscal 2025, so the engineers came with the assets. [70] The company says the deal added Wi-Fi 8 combo, GPS, GNSS and Wi-Fi 7 combo products to its wireless roadmap. [83] Confidence 65 of 100. Wrong if: A breakdown of Core IoT revenue showing the acquired Wi-Fi products were a small part of the increase, or a statement that the connectivity and processor lines Synaptics already had produced most of the 117.3 million.
• Since the merger agreement the company has been run for the handover rather than for the next cycle: the top finance job is left unfilled, buybacks have stopped, and what it may acquire, sell, borrow or spend is capped by the agreement. Because: It decided not to search for a successor chief financial officer in light of the entry into the merger agreement, and the chief executive took on the principal financial officer role. [7] It suspended share repurchase activity after the merger was announced, in accordance with the terms of the agreement. [84] The agreement restricts material acquisitions, disposals of material assets, capital spending above set amounts, new equity and new debt until the deal closes. [59] Selling, general and administrative costs already carry 10.9 million dollars of professional fees for the pending merger. [71] Confidence 80 of 100. Wrong if: A filing before the merger closes that appoints a permanent chief financial officer, resumes share repurchases, or announces a material acquisition.

Sources

1. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Rahul Patel has been the President and Chief Executive Officer since June 2, 2025. Prior to joining our company, Mr. Patel held senior leadership positions at Qualcomm Technologies Inc., a subsidiary of Qualcomm Incorporated, since May of 2015.”
2. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Prior to Qualcomm, Mr. Patel held various leadership positions at Broadcom Corporation Inc. from 2002 through May 2015, serving in his last role as Senior Vice President and General Manager, Wireless Connectivity Group.”
3. Synaptics Incorporated, Form DEF 14A filed 2026-09-15: “Following the departure of our prior CEO on February 3, 2025, in addition to his continued service as Chair of the Board, the Board also appointed Nelson C. Chan as Executive Chair, an interim leadership position, to provide strategic oversight and continuity while the Board conducted a comprehensive search for a new CEO.”
4. Synaptics Incorporated, Form DEF 14A filed 2026-09-15: “NELSON C. CHAN has served as Chair of our Board since October 2018 and as a director since February 2007. From February through December 2025, he also served as Executive Chair to support the Company during the CEO transition.”
5. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Ken Rizvi has been the Chief Financial Officer of our company since July 15, 2024.”
6. Synaptics Incorporated, Form DEF 14A filed 2026-09-15: “Mr. Rizvi served as the Interim CEO from February 2025 until Mr. Patel's appointment which was effective on June 2, 2025.”
7. Synaptics Incorporated, Form DEF 14A filed 2026-09-15: “In August 2026, following the resignation of Mr. Rizvi as our CFO, the Company determined not to conduct a search for a successor CFO at this time in light of the entry into the Merger Agreement. Effective August 20, 2026, Mr. Patel, our President and Chief Executive Officer, began serving as our principal financial officer. Mr. Rizvi will remain employed by the Company in an advisory role through September 30, 2026 to assist with the transition of his responsibilities.”
8. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Lisa Bodensteiner has been Senior Vice President, Chief Legal Officer and Secretary since November 2023.”
9. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Satish Ganesan has been the Senior Vice President and General Manager of Edge Interface and Sensing Division since January 2026. Mr. Ganesan was the Senior Vice President and General Manager of Intelligent Sensing Division until December 2025. Mr. Ganesan joined Synaptics in November 2019 as our Chief Strategy Officer.”
10. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Vikram Gupta has been the Senior Vice President and General Manager of Edge Compute and Connectivity Division since January 2026. Mr. Gupta was the Senior Vice President and General Manager of IoT Processors Division until December 2025.”
11. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Prior to joining Synaptics, Mr. Gupta was the SVP and GM of IoT Compute and Wireless Business Lines for Infineon Technologies, a manufacturer of semiconductor solutions, from April 2020 to November 2022”
12. Synaptics Incorporated, Form DEF 14A filed 2026-09-15: “Keith B. Geeslin Independent Director Age: 73 Director Since: 1986 Committees: Compensation”
13. Synaptics Incorporated, Form DEF 14A filed 2026-09-15: “7 of 8 of our director nominees (88%) are independent (all except our Chief Executive Officer)”
14. Synaptics Incorporated, Form DEF 14A filed 2026-09-15: “Since June 2024, Mr. Nathamuni has served as Executive Vice President and Chief Financial Officer of Jacobs Solutions Inc., a global professional services company.”
15. Synaptics Incorporated, Form DEF 14A filed 2026-09-15: “Due to the impending departure of Mr. Buchanan, the Board appointed Mr. Nathamuni to serve as Audit Committee Chair effective October 26, 2026.”
16. Synaptics Incorporated, Form DEF 14A filed 2026-09-15: “Mr. Buchanan will not stand for re-election at our Annual Meeting, and his term will expire as of the conclusion of our Annual Meeting.”
17. Synaptics Incorporated, Form 10-K filed 2026-08-10: “We were initially incorporated in California in 1986 and were re-incorporated in Delaware in 2002. Our fiscal year is the 52- or 53-week period ending on the last Saturday in June.”
18. The record on this page: the officers and directors who file Forms 3, 4 and 5 (the SEC's insider data sets)
19. Synaptics Incorporated, Form 10-K filed 2026-08-10: “As of June 2026, we employed approximately 1,700 employees. Our workforce is distributed globally across 15 countries with 21% of our employees located in North America, 70% located in Asia Pacific and 9% located in Europe and the Middle East.”
20. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Our employee average tenure globally is approximately nine years.”
21. Synaptics Incorporated, Form 10-K filed 2026-08-10: “We conduct R&D activities in the United States with additional design and development teams located in various countries that perform specific activities under the direction of our U.S. headquarters.”
22. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Our future success depends on our ability to recruit, retain and develop highly skilled engineers, program managers and leadership across our global R&D centers, including in the United States, Taiwan, South Korea, Israel and India.”
23. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Our principal executive offices, as well as our principal research and development, sales, marketing and administrative functions, are located in San Jose, California, where we lease office space of approximately 111,000 square feet.”
24. The record on this page: the filing record (the EDGAR submissions feed)
25. Synaptics Incorporated, Form 10-K filed 2026-08-10: “edge solutions that bring AI closer to end users and transform how we engage with intelligent, connected devices, whether at home, at work, or on the move. We are a strategic partner for many global original equipment manufacturers (“OEM”), offering standard and custom silicon and software platforms for Edge AI, Physical AI, wireless connectivity and human interface technologies.”
26. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Enterprise and Automotive: Includes products for PC Touch Pad, PC Fingerprint, Video Interface Solutions and Automotive Solutions. •Core IoT: Includes products for Wireless and Processor Solutions. •Mobile: Includes products for Touch and Display Solutions for Mobile phone applications.”
27. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Our family of wireless connectivity solutions include advanced Wi-Fi®, Bluetooth®, Bluetooth Low Energy (“BLE”), Zigbee, Thread, Matter, Global Positioning System (“GPS”), Global Navigation Satellite System (“GNSS”), and Ultra Low Energy (“ULE”) to address broad Internet of Things (“IoT”) applications.”
28. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Our Synaptics Astra™ family of AI solutions include a scalable portfolio of intelligent edge processors designed to reduce latency, lower bandwidth usage and enhance security. Applications range from highly integrated microprocessor units (“MPU”) to high-performance microcontroller units (“MCU”) architected for AI-enabled edge systems.”
29. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Our Touch controller solutions bring human-like touch capabilities to robotics and humanoid use cases. By combining high-sensitivity capacitive sensing with real-time Edge AI processing delivered by the Synaptics Astra™ processor platform, our solutions enable a range of interactions, from detecting subtle textures to securely gripping delicate or heavy objects.”
30. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Our video interface solutions—featuring DisplayLink® and DisplayPort® portfolio—are designed to simplify connectivity to external displays while maintaining broad compatibility and performance.”
31. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Application for these devices is broadening beyond PC peripherals into new categories such as humanoids, robotics, and extended reality.”
32. Synaptics Incorporated, Form 10-K filed 2026-08-10: “With more than 500 touch-related patents and full support for next-generation organic light emitting diode (“OLED”) technologies, Synaptics offers advanced touch solutions for mobile applications.”
33. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Our customers include many of the world’s largest mobile and PC OEMs, based on unit shipments, as well as many large Edge AI IoT OEMs, automotive manufacturers and a variety of consumer electronics manufacturers.”
34. Synaptics Incorporated, Form 10-K filed 2026-08-10: “We generally supply our products to OEMs through their contract manufacturers and original design manufacturers (“ODM”), supply chain partners or distributors. We consider both the OEMs and their contract manufacturers or supply chain partners to be our customers, as well as in some cases, our distributors.”
35. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Net revenue derived from customers whose revenue represented 10% or more of our total net revenue was as follows: 2026 2025 2024 Customer A 11% * * Customer B 17% 15% * Customer C * 11% 12%”
36. Synaptics Incorporated, Form 10-K filed 2026-08-10: “As of June 2026, two customers comprised a total of 24% of our accounts receivable.”
37. Synaptics Incorporated, Form 10-K filed 2026-08-10: “If a customer designs another supplier’s product into one of its product platforms, it is more difficult for us to achieve future design wins with that platform because changing suppliers involves significant cost, time, effort and risk on the part of that customer.”
38. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Net revenue by geographic region, based on the billing location of our customers, was as follows: 2026 2025 2024 China $ 536.8 $ 493.0 $ 435.0 Taiwan 363.4 307.2 201.3 Japan 128.3 137.6 192.3 South Korea 74.5 71.7 59.9 United States 23.6 7.4 21.3 Other 70.6 57.4 49.6 $ 1,197.2 $ 1,074.3 $ 959.4”
39. Synaptics Incorporated, Form 10-K filed 2026-08-10: “We employ a fabless semiconductor manufacturing platform through third-party relationships. We currently utilize third-party semiconductor wafer manufacturers to supply silicon wafers integrating our proprietary design specifications. The completed silicon wafers are forwarded to third-party package and test processors for further processing into die and packaged ASICs, as applicable, which are then used in our custom module products or offered as an ASIC-based solution.”
40. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Our third-party contract manufacturers and semiconductor fabricators are predominantly Asia-based organizations. We generally provide our contract manufacturers with six-month rolling forecasts of our production requirements. As a result of past supply constraints and capacity shortages affecting the global semiconductor industry, we entered into long-term capacity and pricing agreements with certain suppliers.”
41. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Key inputs, including silicon wafers, substrates, and packaging materials, are sourced from a limited number of foreign suppliers.”
42. Synaptics Incorporated, Form 10-K filed 2026-08-10: “As of June 2026, we had commitments of $25.7 million for purchase obligations which include payments for the acquisition of inventories and other goods or services of either a fixed or minimum quantity.”
43. Synaptics Incorporated, Form 10-K filed 2026-08-10: “As of June 2026, we held 2,344 active patents and 661 pending patent applications worldwide that expire between 2026 and 2046. Collectively, these patents and patent applications cover various aspects of our key technologies, including those for touch sensing, voice processing, secure biometrics, display drivers, touch and display integration, docks and adapters, video interfaces, wired and wireless connectivity, audio processing, video processing, edge computing, open AI tools and computer vision.”
44. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Our technology portfolio spans ICs, firmware, software and mechanical hardware. The combination of these technologies within our products, along with the complexity of customer-specific customizations and the length of design cycles, provides a further barrier to replication and unauthorized use.”
45. Synaptics Incorporated, Form 10-K filed 2026-08-10: “We compete against many global and local companies. To win, we focus on delivering exactly what our customers need: top-quality products, advanced technology, strong technical support, flexible global delivery, reliable supply and competitive pricing. Across our product end markets, our principal competitors include: •Processor manufacturers – MPU and MCU makers •Wireless connectivity providers – Wi-Fi, Bluetooth, BLE, Zigbee, Thread, ULE •Touch sensor and IC manufacturers •Providers of systems on modules and single board computers”
46. Synaptics Incorporated, Form 10-K filed 2026-08-10: “We also face increased competition as a result of China actively promoting its domestic semiconductor industry through policy changes and investment. These actions, as well as China-U.S. trade barriers, may restrict our participation in the China market or may prevent us from competing effectively with Chinese companies or companies from other countries that China favors over the United States.”
47. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Additionally, in January 2026, the U.S. government implemented a 25% tariff on certain imported semiconductors and chips not intended for use in the U.S.”
48. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Based on our current import and export practices, we believe our direct tariff exposure remains limited.”
49. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Our common stock has been listed on the Nasdaq Global Select Market (formerly the Nasdaq National Market) under the symbol “SYNA” since January 29, 2002.”
50. Synaptics Incorporated, Form 10-K filed 2026-08-10: “In connection with our acquisition of Conexant Systems, LLC (“Conexant”) in fiscal 2018, we agreed to assume certain environmental liabilities, including remediation of environmental impacts at a property formerly owned by Conexant (“Conexant Site”). We continue to incur costs to investigate and remediate the Conexant Site’s environmental impacts.”
51. Synaptics Incorporated, Form 10-K filed 2026-08-10: “On January 19, 2025, we entered into definitive asset purchase agreements with Broadcom to acquire certain assets, and obtain non-exclusive licenses relating to, Broadcom’s Wi-Fi Business in the IoT market for an aggregate consideration of $200.3 million in cash, which closed on January 30, 2025”
52. Synaptics Incorporated, Form 10-K filed 2026-08-10: “The acquired assets primarily include non-exclusive licenses to three developed technology products and the right to obtain licenses for eight roadmap technology intangible assets expected to be delivered at various dates through May 2028. In connection with this transaction, we also acquired certain employees from Broadcom.”
53. Synaptics Incorporated, Form 10-K filed 2026-08-10: “On June 25, 2026, we entered into an Agreement and Plan of Reorganization (the “Merger Agreement”), by and among Synaptics, ON Semiconductor Corporation, a Delaware corporation (“Parent” or “onsemi”), and Sonic Acquisition Corp., a Delaware corporation and wholly-owned subsidiary of Parent (“Merger Sub”), pursuant to which Merger Sub will merge with and into Synaptics (the “Merger”), with Synaptics surviving as a wholly-owned subsidiary of Parent (the “Surviving Corporation”).”
54. Synaptics Incorporated, Form 10-K filed 2026-08-10: “each share of Synaptics common stock outstanding immediately prior to the Effective Time, subject to certain limited exceptions provided in the Merger Agreement, shall be converted into the right to receive 1.350 validly issued, fully paid and non-assessable shares of onsemi common stock”
55. Synaptics Incorporated, Form 10-K filed 2026-08-10: “The transactions contemplated by the Merger Agreement were unanimously approved by our Board of Directors, and the transaction is expected to close in mid-2027, subject to customary closing conditions, including approval by Synaptics stockholders and the receipt of required regulatory approvals.”
56. Synaptics Incorporated, Form 10-K filed 2026-08-10: “The completion of the proposed Merger with onsemi is subject to customary closing conditions, some of which are beyond our and onsemi’s control, including (1) the approval of the Merger Agreement by the holders of a majority of the shares of our common stock outstanding and entitled to vote (the “required Stockholder Vote”), (2) the expiration or early termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the “HSR Act”), and the approval of the Merger under certain other antitrust and foreign investment regimes”
57. Synaptics Incorporated, Form 10-K filed 2026-08-10: “by either us or onsemi if the Merger is not completed by June 25, 2027, which date may be extended for up to three periods of three months each, in each case under certain circumstances (the “End Date”)”
58. Synaptics Incorporated, Form 10-K filed 2026-08-10: “will be required to pay onsemi a termination fee of $235.0 million (the “Synaptics Termination Fee”). Additionally, onsemi, under specified circumstances, including termination following an injunction arising in connection with certain antitrust or foreign investment laws, or failure to receive certain required regulatory approvals of specified governmental authorities by the End Date, will be required to pay us a regulatory termination fee of $320.0 million (the “onsemi Regulatory Termination Fee”).”
59. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Under the terms of the Merger Agreement, we are subject to certain restrictions on the conduct of our business prior to completing the Merger which may adversely affect our ability to execute certain of our business strategies, including, but not limited to, making material acquisitions, disposing of material assets, entering into material agreements, making capital expenditures in excess of specified amounts, repurchasing our capital stock or other equity securities, issuing additional capital stock or other equity securities, or incurring additional indebtedness”
60. Synaptics Incorporated, Form 10-K filed 2026-08-10: “In fiscal 2026, we achieved revenue growth with net revenue increasing 11.4% to $1,197.2 million compared to $1,074.3 million in fiscal 2025. The growth was primarily driven by an increase in net revenue in our Core IoT product applications.”
61. The record on this page: the filed annual figures (EDGAR's company facts)
62. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Of this net revenue, $641.1 million, or 53.5%, was from Enterprise and Automotive product applications, $389.7 million, or 32.6%, was from the Core IoT product applications market and $166.4 million, or 13.9%, was from the Mobile product applications market.”
63. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Enterprise and Automotive net revenue was $641.1 million, increasing 5.1% compared to $610.1 million a year ago. The increase was primarily driven by higher unit sales, a better product mix, and increased license revenue from certain of our IP.”
64. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Net revenue from Enterprise and Automotive product applications increased $31.0 million, primarily driven by higher unit sales (1.9%), a better product mix, and increased license revenue from certain of our IP.”
65. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Net revenue from Core IoT was $389.7 million, increasing 43.1% compared to $272.4 million a year ago, and included the contribution from our Broadcom transaction.”
66. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Net revenue from Core IoT product applications increased $117.3 million, driven by an increase in units sold (25.8%) and an increase in average selling prices (8.0%) due to our product sales mix compared to the same period a year ago, inclusive of the contribution from the Broadcom transaction.”
67. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Mobile net revenue was $166.4 million, decreasing 13.2% compared to $191.8 million a year ago, primarily due to lower average selling prices and a decrease in license revenue from certain of our IP.”
68. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Net revenue from Mobile product applications decreased primarily due to a decrease in average selling prices (8.1%) and lower license revenue from certain of our IP.”
69. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Gross margin as a percentage of net revenue remained flat at 44.7% in fiscal 2026 and fiscal 2025.”
70. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Research and development expenses increased $35.0 million, to $381.8 million, for fiscal 2026 compared with $346.8 million in fiscal 2025. The increase in research and development expenses primarily reflected an $18 million increase in share-based compensation primarily driven by the charges related to the awards granted to the Broadcom employees onboarded during the third quarter of fiscal 2025, a $10.6 million increase in personnel-related costs, and a $3.9 million increase in project specific costs.”
71. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Selling, general and administrative expenses increased by $18.0 million, to $198.3 million, for fiscal 2026 compared with $180.3 million in fiscal 2025. The increase in selling, general and administrative expenses primarily reflected a $15.6 million increase in share-based compensation primarily attributable to forfeitures associated with the departures of certain executives in the third quarter of fiscal 2025, which did not recur in fiscal 2026, and $10.9 million in professional service fees primarily related to the pending merger with onsemi.”
72. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Operating loss (67.1) (5.7 %) (94.1) (8.8 %) Interest and other income, net 11.1 0.9 % 26.9 2.5 % Interest expense (23.4) (2.0 %) (39.8) (3.7 %) Loss on early extinguishment of debt — — % (6.5) (0.6 %) Loss before provision (benefit) for income taxes (79.4) (6.7 %) (113.5) (10.6 %) Provision (benefit) for income taxes 411.4 34.3 % (65.7) (6.2 %) Net loss $ (490.8) (41.0) % $ (47.8) (4.4)”
73. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Restructuring costs incurred in fiscal 2026 and 2025 were $3.3 million and $16.9 million, respectively.”
74. Synaptics Incorporated, Form 10-K filed 2026-08-10: “The effective tax rate for fiscal 2026 diverged from the combined U.S. federal and state statutory tax rate primarily due to $425.3 million of non-cash tax expenses associated with the establishment of a full valuation allowance against our U.S.”
75. Synaptics Incorporated, Form 10-K filed 2026-08-10: “During the fourth quarter of fiscal 2026, we recorded a full valuation allowance against our net U.S. federal deferred tax assets after determining that it was not more likely than not that such deferred tax assets would be realized, primarily based on our three-year cumulative adjusted taxable loss position for U.S. federal income tax purposes as of fiscal 2026.”
76. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Our cash and cash equivalents were $442.5 million as of the end of fiscal 2026 compared with $391.5 million as of the end of fiscal 2025, an increase of $51.0 million. The increase in cash and cash equivalents was driven by cash provided by operating activities of $149.4 million, partially offset by cash used in financing activities of $111.5 million primarily related to repurchases of our common stock during fiscal 2026.”
77. Synaptics Incorporated, Form 10-K filed 2026-08-10: “As of the end of fiscal 2026, $254.8 million of cash and cash equivalents was held by our foreign subsidiaries.”
78. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Our aggregate principal debt obligations were $850.0 million as of June 2026 and mature at various dates through December 2031.”
79. Synaptics Incorporated, Form 10-K filed 2026-08-10: “We have $350.0 million available under our revolving credit facility with a maturity date to be the earlier of November 2029 or three months prior to any maturity of our Senior Notes. No funds were drawn from this credit facility during fiscal 2026.”
80. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Since 2017, Synaptics has developed products with integrated neural processing engines to help customers in advancing their AI capabilities. We intend to capitalize on the Edge AI and Physical AI opportunities with our processor solutions.”
81. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Average selling prices of our products have historically declined, and we expect this trend to continue.”
82. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Because contract manufacturers often serve the same OEM, a reduction in demand from that OEM could significantly impact our revenue across multiple customer accounts.”
83. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Expands our wireless product roadmap: Adds Wi-Fi 8 combo, GPS, GNSS, and Wi-Fi 7 combo products to strengthen our wireless portfolio over the next five years.”
84. Synaptics Incorporated, Form 10-K filed 2026-08-10: “Following the announcement of the Merger, we suspended our share repurchase activity in accordance with the terms of the Merger Agreement; however, we may resume share repurchases in the future in accordance with the terms of the Merger Agreement.”

Where the revenue comes from

By geography: China 45%, Taiwan 30%, Japan 11%, South Korea 6%, Other 6%, United States 2%. As tagged in its annual report (Form 10-K, filed 2026-08-10).

Who runs it

Patel, Rahul G. (The reporting person is President and Chief Executive Officer.); Song, Esther (The reporting person is Vice President and Corporate Controller.); Bodensteiner, Lisa Marie (The reporting person is Senior Vice President, Chief Legal Officer and Corporate Secretary.); Ganesan, Satish (The reporting person is Senior Vice President, General Manager Edge Interface & Sensing Division, and Chief Strategy Officer.); Gupta, Vikram (The reporting person is Senior Vice President & General Manager, Edge Compute & Connectivity Division, and Chief Product Officer.); Rizvi, Ken (The reporting person is Senior Vice President and Chief Financial Officer.); Nathamuni, Venkatesh (director); Buchanan, Jeffrey D (director); Chan, Nelson C (director); Geeslin, Keith (director); and 4 more. 14 officers and directors have filed their own trades in the last fifteen months, names and titles as filed with the SEC, through 2026-09-30.

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