Synaptics is a fabless semiconductor company that designs chips and software for connected edge devices, selling custom silicon to OEMs who embed Synaptics' chips into their end products. Synaptics operates across three product lines. Enterprise & Automotive (~53% of revenue) includes PC touchpads and fingerprint sensors — where Synaptics holds a top-two market position — video interface chips (branded DisplayLink and DisplayPort), and automotive infotainment touch and display solutions. Core IoT (~30% of revenue) includes wireless connectivity chips supporting Wi-Fi, Bluetooth, and other protocols for smart home devices, speakers, wearables, and other IoT applications, as well as the Astra family of edge AI processors designed to run AI inference locally on IoT devices. Mobile Touch (~17% of revenue) includes touch controllers for high-end Android smartphones, with a focus on foldable phones and OLED displays. As a fabless company, Synaptics outsources all manufacturing to third-party foundries in Asia, keeping the business asset-light. Revenue is driven by design wins with OEMs, technology transitions (e.g., Wi-Fi 7 upgrades that increase average selling prices), and end-market demand across PC, smartphone, and IoT device cycles. Synaptics is strategically repositioning from a PC and mobile component supplier toward an IoT and edge AI platform company, bundling wireless, processor, and sensing chips into integrated solutions for OEMs. In January 2025, Synaptics acquired wireless technology assets from Broadcom for ~$198M to expand its IoT wireless portfolio.