Synaptics (SYNA), a maker of touch interface technology, is facing stiff competition in the market for fingerprint sensors from smaller rival Fingerprint Cards. Fingerprint Cards (FPC), based in Gothenburg, Sweden, and traded on the Stockholm Stock Exchange, on Thursday raised its fiscal 2015 revenue guidance for the third time this year. FPC now expects revenue of 2.5 billion Swedish krona ($294 million), up from 2.2 billion SEK ($259 million).
A disappointing earnings report drove shares of Synaptics (SYNA) to fall to a seven-month low Friday, though the stock rallied later in the session. The Apple (AAPL) touchscreen supplier late Thursday reported earnings for its fiscal Q4 ended June 30 that missed Wall Street expectations, as did its guidance. At least four investment banks lowered their price targets on Synaptics stock on the results. The company, whose technology includes
Synaptics (SYNA) stock has been hammered by reports that Apple (AAPL) is internally developing an integrated touch controller/display driver (TDDI) chip for use in future iPhones. Synaptics, a leader in touch interface technology, has been pushing TDDI integrated circuits as a key growth driver. Renesas SP Drivers, recently acquired by Synaptics, has been a longtime iPhone supplier. Apple’s homegrown TDDI chip also will have an integrated fingerprint sensor, DigiTimes reported Monday. Synaptics has been working on an integrated fingerprint-TDDI system since it acquired Validity Sensors in November 2013. By using one chip with touch controller, display driver and fingerprint sensor technology, Apple could make an iPhone without a physical home button, DigiTimes said. The first iPhone without a home button likely is more than two years away, a source told AppleInsider. The elimination of the home button would be a radical redesign to the iPhone,…