Home / Features / Tech Mover in Frontline Brokers: Knowles Corporation (NYSE:KN), Synaptics Inc. (NASDAQ:SYNA)

Tech Mover in Frontline Brokers: Knowles Corporation (NYSE:KN), Synaptics Inc. (NASDAQ:SYNA)

Knowles Corporation (KN) today announced the pricing of $150 million aggregate principal amount of convertible senior notes due 2021 (the “notes”) in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended \. The size of the offering was increased by $25 million from the previously announced offering size of $125 million. Knowles also granted the initial purchasers of the notes a 30-day option to purchase up to an additional $22.50 million aggregate principal amount of the notes. The sale of the notes to the initial purchasers is expected to settle on May 4, 2016, subject to customary closing conditions, and is expected to result in approximately $144.25 million in net proceeds to Knowles after deducting the initial purchasers’ discount and estimated offering expenses payable by Knowles (assuming no exercise of the initial purchasers’ option). J.P. Morgan is acting as sole book-running manager and BofA Merrill Lynch is acting as joint lead manager for the offering.

The notes will be unsecured, senior obligations of Knowles and will bear interest at a rate of 3.25% per year. Interest will be payable semi-annually in arrears on May 1 and November 1 of each year, beginning on November 1, 2016. The notes will mature on November 1, 2021, unless earlier repurchased or converted. Conversions of the notes will be settled in cash, shares of Knowles’ common stock or a combination thereof, at Knowles’ election.

Several matter pinch shares of Knowles Corporation (NYSE:KN) [Trend Analysis], as shares moving down -10.73% to $13.40 with a share volume of 3.78 Million. The stock is going forward its 52-week low with 38.43% and moving down from its 52-week high price with -39.99%. To have technical analysis views, liquidity ratio of a company was calculated 1.80 as evaluated with its debt to equity ratio of 0.45.

Noting a main crunch of analyst research by WSJ, KN under observation of quarterly per share earnings, it has second quarter 2016 trend of $0.11, while in next quarter estimated EPS trend is $0.32 and for annual basis for 2016 estimated EPS is $0.85.

Relatively pool of WSJ analyst issues diverse rating, as for current level it has 6 experts rated as “BUY” security, 1 analyst recommend as “Overweight,” and 1 experts rated as “Hold”.

Synaptics (SYNA), a leading developer of human interface solutions, today reported financial results for its third quarter ended March 31, 2016. Net revenue for the third quarter of fiscal 2016 decreased 16 percent compared to the comparable quarter last year to $402.5 million. Net income for the third quarter of fiscal 2016 was $20.5 million, or $0.54 per diluted share. Non-GAAP net income for the third quarter of fiscal 2016 decreased 28 percent compared with the prior year period to $46.0 million, or $1.21 per diluted share.

“Our fiscal third quarter results were impacted by significant reductions in demand within the high-end smartphone market in March, particularly for our display driver solutions, in addition to weakness in the PC market. Given the magnitude of the demand reductions we saw late in the fiscal third quarter, the current macro environment and existing supply chain inventory, we have taken a cautious approach to fiscal fourth quarter guidance, in anticipation that the level of product currently in the supply chain will be sufficient to meet the reduced demand for our display driver products from high-end smartphone OEMs,” said Rick Bergman, President and CEO.

For current month, 1 analyst from pool recommended for an “overweight” rating, while 12 gave rating of “Buy” and 4 analysts suggest to “Hold” and 1 gave preference to “underweight,” according to research rating by WSJ.

While alarming thing to be notice is price target, the average pool price target for SYNA has been mentioned as; 118.00 tends to high price target, medium level touched to 90.00, and 54.00 was assigned as lowest share price targets. To accommodate all of these, average analyst price target appeared by 88.38, where as the current price is 81.10, as per research conducted by WSJ.

Shares of Synaptics Inc. (NASDAQ:SYNA) [Trend Analysis] runs in leading trade, it plunging -5.62% to traded at $81.10. The firm has price volatility of 4.75% for a week and 3.92% for a month. Its beta stands at 1.62 times. Narrow down four to firm performance, its weekly performance was -4.42% and monthly performance was 3.76%. The stock price of SYNA is moving down from its 20 days moving average with -0.97% and isolated negatively from 50 days moving average with -0.44%.


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