Synaptics CFO Resigns, Company Skips Successor Search Before Merger

Synaptics Inc (NASDAQ:SYNA) shares are up during Friday’s premarket session, trading higher by almost 2% as the company announced a transition in its executive leadership.

The stock’s movement comes in tandem with a broader positive sentiment in the market, with S&P 500 futures gaining 0.4%.

CFO Transition

Synaptics CFO Ken Rizvi has resigned effective immediately to pursue another opportunity. He will remain as an adviser through September 30, 2026, to support the transition.

The company will not search for a successor given its pending merger with ON Semiconductor Corporation (NASDAQ:ON).

CEO Rahul Patel will serve as principal financial officer until the merger closes, while former Chief Accounting Officer Kermit Nolan will return as a consultant to support the finance team.

Merger Deal

In June, ON Semi acquired Synaptics in an all-stock transaction, representing a total enterprise value of approximately $7 billion.

Under the agreement, Synaptics shareholders will receive 1.350 ON Semiconductor shares for each Synaptics share. The offer represents a roughly 19% premium based on the companies’ 10-day volume-weighted average closing prices.

The acquisition is expected to close in mid-2027, subject to Synaptics shareholder approval, regulatory clearances and customary closing conditions.

Financially, the companies stated the transaction is expected to be accretive to non-GAAP earnings per share within 18 months of closing, with anticipated annual synergies of approximately $200 million.

SYNA Earnings Preview And Analyst Price Targets

Synaptics is slated to provide its next financial update on November 5, 2026 (estimated).

• EPS Estimate: $1.08 (Down from $1.09)
• Revenue Estimate: $316.66 million (Up from $292.50 million)

Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average price forecast of $132.14. Recent analyst moves include:

• Wells Fargo: Overweight (Lowers Target to $140.00) (Aug. 7)
• Rosenblatt: Neutral (Lowers Target to $115.00) (Aug. 7)
• Susquehanna: Neutral (Lowers Target to $125.00) (July 21)

SYNA ETF Exposure: Funds With The Biggest Weighting

• Global X Internet of Things ETF (NASDAQ:SNSR): 4.36% Weight

Significance: Because SYNA carries meaningful weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock.

SYNA Stock Price Activity: Synaptics shares were up 1.84% at $99.80 during premarket trading on Friday, according to Benzinga Pro data.

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