Synaptics Incorporated (NASDAQ:SYNA) Q4 2023 Earnings Call Transcript

Michael Hurlston: Yeah. Martin, I mean, I think, what we were trying to get people oriented around is Mobile and PC have largely recovered. I think in PC we’ve seen inventory levels now close to normal. The complication is that the demand particularly from enterprise has not yet picked up. We forecasted picking up in the in the fourth quarter and then early next year, but it has not yet picked up. So although inventory is in pretty good shape. I think a demand still remains a question and that’s largely hinging on enterprise spending. In Mobile, we had a good quarter this quarter. I think we’ve got a tailwind with Samsung. We expect to do some additional business with Samsung in the ensuing quarters. As I think both Dean and I characterize the one headwind we’re experiencing in Mobile is not necessarily to do with inventory or to do with end demand.

It’s to do with the roll off of our display driver with our large customer. So that’s, as I said, it’s now an increasingly immaterial part of our business, but it’s still there. It’s still a piece of the business. So we have work to do to offset that as it asymptotes to zero as I said in my remarks.

Martin Yang: How material is the legacy DDIC business to Mobile if you measured it on the last month basis?

Michael Hurlston: Yeah. It’s single-digit percentage, Martin.

Martin Yang: Got it. Thank you.

Operator: Thank you. I’m showing no further questions at this time. I would now like to turn the conference back to Michael for closing remarks.

Michael Hurlston: Yeah. I’d like to thank all of you for joining us today and we certainly look forward to speaking to you at our upcoming investor conferences during the quarter, and more importantly, our Investor Day in September. Thank you.

Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect.