Synaptics

Q4 FY2026 EarningsFY26 Q4 results slightly beat consensus on the top line with revenue of $1,197.2M vs. $1,194.1M expected, driven by a 43.1% YoY surge in Core IoT. However, GAAP profitability was severely impacted by a $425.3M non-cash tax valuation allowance, leading to a GAAP EPS of -$12.62, significantly missing the -$1.19 mean estimate. Despite the tax charge, operating performance remained steady with gross margins flat at 44.7% and a pending merger with onsemi slated for mid-2027 providing a significant valuation floor.