Technology stocks were holding on to a narrow gain late Friday, with shares of tech companies in the S&P 500 rising about 0.1% rise.
In company news, Synaptics (SYNA) was sinking in late Friday trading following a pair of downgrades of the human-interface technologies company today, with analysts at Craig Hallum and Needham & Co. both cutting their respective investment calls to Hold from Buy.
The downgrades came despite Synaptics last night reporting above-consensus fiscal Q1 financial results. The company earned $1.03 per share during the July-to-September period, topping the analyst mean by $0.04 per share. Revenue declined 17.8% from year-ago levels to $386.2 million, also exceeding the $372.19 million Street view.
SYNA shares were down nearly 24% at $51.57 each, recovering somewhat from a prior slide as low as $50.23 a share earlier today.
In other sector news,
(+) DAIO, Q3 net income rises to $0.08 per share from $0.05 per share during the year-ago period. Revenue increased 7% year over year to $6.588 mln. No analyst estimates were available for comparison.
(-) ATEN, Revenue rises 8.5% over the same quarter last year to $55.1 mln, trailing Capital IQ consensus by $4.17 mln. Non-GAAP EPS of $0.00 beats by $0.01 per share.