11 AI News and Ratings You Shouldn’t Miss

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8. Synaptics Incorporated (NASDAQ:SYNA)

Number of Hedge Fund Holders: 23

Synaptics Incorporated (NASDAQ:SYNA) develops and sells semiconductor solutions for wireless connectivity, AI, touch and display technology, and biometric authentication across various industries.

On February 6, Synaptics reported Q2 non-GAAP EPS of $0.92, exceeding estimates by $0.06. Revenue reached $267.2 million, reflecting a 12.7% increase year-over-year and surpassing expectations by $1.61 million. The management discussed the company’s new agreement with Broadcom, improving its Edge AI strategy and strengthening its position in IoT connectivity. The deal expands Synaptics’ portfolio to include WiFi 8 and WiFi 7 combo devices, ultrawideband intellectual property, next-generation GPS/GNSS products, and combo front-end modules. The move secures the company’s wireless roadmap for over five years and broadens its market reach into AR/VR, Android smartphones, and consumer audio.

The company also highlighted a collaboration with Google to integrate Google’s MLIR-compliant machine learning core with Synaptics’ Astra processor line, focusing on high-efficiency AI solutions. Google’s partnership strengthens Synaptics’ position in Edge AI and is expected to drive innovation in AI model development.

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