| ON |
Report |
Revenue (Q2'26) |
BEAT |
pred ~$1.61B vs. cons ~$1.59B |
MEDIUM |
| ON |
Report |
Non-GAAP EPS (Q2'26) |
BEAT |
pred ~$0.73 vs. cons ~$0.68 |
MEDIUM |
| ON |
Report |
Non-GAAP Gross Margin (Q2'26) |
IN-LINE |
pred ~39.2% vs. cons ~39.0% |
MEDIUM |
| ON |
Guide |
Q3'26 Revenue guide |
BETTER |
guide ~$1.68B vs. cons ~$1.65B (Q3'26) |
MEDIUM |
| ON |
Guide |
Q3'26 Non-GAAP EPS guide |
UNCHANGED |
guide ~$0.78 vs. cons ~$0.77 (Q3'26) |
LOW |
| ON |
Guide |
Q3'26 Non-GAAP Gross Margin guide |
UNCHANGED |
guide ~40% vs. cons ~40% (Q3'26) |
MEDIUM |
| ON |
Guide |
2026 AI data center revenue framing |
BETTER |
guide ~2.0-2.2x vs. cons ~2.0x YoY (FY26, off ~$250M base) |
MEDIUM |
| ON |
Guide |
Synaptics deal accretion/synergies |
UNCHANGED |
guide ~$200M synergies, accretive in ~18mo vs. cons ~$200M (close mid-2027) |
LOW |
| ON |
Return |
Day-1 residual (stock − beta × S&P 500) |
+4.0% |
— |
MEDIUM |
| ON |
Return |
5-day cumulative residual |
+1.5% (FADE) |
Stock is deeply derisked (~$81.63 vs. $133 June peak, off ~24% on Synaptics + another leg lower into the print), so a modest beat and above-seasonal Q3 guide likely triggers a relief pop on day 1. But the rally fades over the week: the ~$30-40M non-core exits and 2H pricing-lag on margins cap out-period upside, the all-stock Synaptics dilution/distraction overhang persists, the multiple is still rich, and split sell-side targets ($60s-$110) mean estimate revisions net roughly flat-to-down even after a beat. |
LOW |