Synaptics Inc. Files 2024 10-K Report

TL;DR

Synaptics filed its 2024 10-K. Financials for FY24 are in. Check it out.

AI Summary

Synaptics Inc. filed its 2024 10-K report, covering the fiscal year ending June 29, 2024. The company, headquartered in San Jose, CA, operates in the semiconductors and related devices industry. Key financial data and operational details for the fiscal years 2022, 2023, and 2024 are presented within the filing.

Why It Matters

This filing provides investors and analysts with a comprehensive overview of Synaptics' financial performance, strategic initiatives, and risk factors for the past fiscal year, crucial for understanding the company's current standing and future prospects.

Risk Assessment

Risk Level: medium — The filing details various risks including credit concentration, market conditions, and operational challenges inherent in the semiconductor industry.

Key Numbers

• FY2024 — Fiscal Year End (The report covers the fiscal year ending June 29, 2024.)
• FY2023 — Previous Fiscal Year End (Comparative financial data from the previous fiscal year ending June 25, 2023, is included.)
• FY2022 — Prior Fiscal Year End (Comparative financial data from the fiscal year ending June 26, 2022, is included.)

Key Players & Entities

• SYNAPTICS Inc (company) — Filer of the 10-K report
• 0000817720 (company) — Central Index Key for SYNAPTICS Inc.
• 20240629 (date) — Conformed period of report for the 10-K
• 20240823 (date) — Filing date of the 10-K
• San Jose, CA (location) — Business and mailing address of SYNAPTICS Inc.
• 408-904-1100 (phone_number) — Business phone number for SYNAPTICS Inc.

FAQ

Key Financial Figures

• $114 — l Select Market on December 29, 2023 of $114.08, was $ 3,315,423,762 . For purposes
• $30.0 m — adcom for an aggregate consideration of $30.0 million, which was paid in cash in the pr
• $130.0 m — ssets for an aggregate consideration of $130.0 million, which was paid in cash in the fi
• $15.8 m — mza for total purchase consideration of $15.8 million, which was paid in cash. The resu

Filing Documents

• syna-20240629.htm (10-K) — 3506KB
• syna-ex10_10.htm (EX-10.10) — 25KB
• syna-ex10_13.htm (EX-10.13) — 29KB
• syna-ex10_3m.htm (EX-10.3(M)) — 100KB
• syna-ex19.htm (EX-19) — 89KB
• syna-ex21.htm (EX-21) — 9KB
• syna-ex23_1.htm (EX-23.1) — 4KB
• syna-ex31_1.htm (EX-31.1) — 11KB
• syna-ex31_2.htm (EX-31.2) — 11KB
• syna-ex32_1.htm (EX-32.1) — 5KB
• syna-ex32_2.htm (EX-32.2) — 5KB
• syna-ex97.htm (EX-97) — 39KB
• img136945195_0.jpg (GRAPHIC) — 10KB
• img139715758_0.jpg (GRAPHIC) — 10KB
• img236422456_0.jpg (GRAPHIC) — 22KB
• img257875073_0.jpg (GRAPHIC) — 185KB
• 0000950170-24-100261.txt ( ) — 17556KB
• syna-20240629.xsd (EX-101.SCH) — 2495KB
• syna-20240629_htm.xml (XML) — 3516KB

BUSINESS

BUSINESS 1 ITEM 1A .

RISK FACTORS

RISK FACTORS 14 ITEM 1B . UNRESOLVED STAFF COMMENTS 34 ITEM 1C . CYBERSECURITY 34 ITEM 2.

PROPERTIES

PROPERTIES 34 ITEM 3 .

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 35 ITEM 4 . MINE SAFETY DISCLOSURES 35 PART II ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 36 ITEM 6. RESERVED 37 ITEM 7.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 38 ITEM 7A.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 49 ITEM 8.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 49 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 49 ITEM 9A .

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 49 ITEM 9B. OTHER INFORMATION 50 ITEM 9C . DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 50 PART III ITEM 10 . DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 51 ITEM 11.

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 51 ITEM 12.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 51 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 51 ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES 51 PART IV ITEM 15 . EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 52 ITEM 16. FORM 10-K SUMMARY 55

SIGNATURES

SIGNATURES 56 INDEX TO CONSOLIDATED FINANCIAL STATEMENTS F- 1 Cautionary Note Regarding Forward-Looking Statements This report on Form 10-K for the year ended June 29, 2024, contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which are subject to the "safe harbor" created by those sections. Forward-looking statements give our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business, and can be identified by the fact that they do not relate strictly to historical or current facts. Such forward-looking statements may include words such as "expect," "anticipate," "intend," "believe," "estimate," "plan," "target," "strategy," "continue," "may," "will," "should," variations of such words, or other words and terms of similar meaning. All forward-looking statements reflect our best judgment and are based on several factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control. Such factors include, but are not limited to, the risks summarized herein and identified in the "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Business" sections in this report on Form 10-K, and other risks as identified from time-to-time in our Securities and Exchange Commission reports. Forward-looking statements are based on information available to us on the date hereof, and we do not have, and expressly disclaim, any obligation to publicly release any updates or any changes in our expectations, or any change in events, conditions, or circumstances on which any forward-looking statement is based. Our actual results and the timing of certain events could differ materially from the forward-lo

B USINESS

ITEM 1. B USINESS Overview We are a leading worldwide developer and fabless supplier of premium mixed signal semiconductor solutions that enable people to engage with connected devices and data, engineering exceptional experiences throughout the home, at work, in the car and on the go. We provide our customers with sensing, processing, and connecting solutions, which represent the three foundational elements of the Internet of Things, or IoT. We supply connectivity, sensors, and artificial intelligence, or AI, enhanced processor solutions to original equipment manufacturers, or OEMs, that design IoT products and devices for automobiles, enterprise workspace devices, virtual reality, smartphones, tablets, and notebook computers. Our currently served markets include IoT, personal computer, or PC, Enterprise and Automotive, and Mobile. Our solutions either contain or consist of our wireless, voice and speech, video processing, fingerprint, authentication, display driver, or touch semiconductor solutions, which include our hardware, and, where applicable, firmware and software. Our website is located at www.synaptics.com . Through our website, we make available, free of charge, all our Securities and Exchange Commission, or SEC, filings, including our annual reports on Form 10-K, our proxy statements, our quarterly reports on Form 10-Q, and our current reports on Form 8-K, as well as Form 3, Form 4, and Form 5 Reports for our directors, officers, and principal stockholders, together with amendments to those reports filed or furnished pursuant to Sections 13(a), 15(d), or 16 under the Securities Exchange Act of 1934, as amended, or the Exchange Act. These reports are available on our website promptly after their electronic filing with the SEC. You can also read these SEC filings and reports over the Internet at the SEC's website at www.sec.gov. Our website also includes corporate governance information, including our Code of Conduct, our Code of Ethics for the Chie

View Full Filing

View this 10-K filing on SEC EDGAR