Synaptics (NASDAQ: SYNA) shares surged 6.31% in after-hours trading on Thursday following the release of its fourth-quarter fiscal 2025 results, which exceeded analyst expectations, and the announcement of a new share repurchase program.

The company reported adjusted earnings per share of $1.01, slightly above the consensus estimate of $1.00, representing a 57.81% increase from the same period last year. Revenue for the quarter came in at $282.8 million, surpassing the analyst forecast of $279.609 million and marking a 14.31% year-over-year growth.

Synaptics' impressive performance was primarily driven by its Core IoT product sales, which grew by 55% compared to the previous year. This growth aligns with the company's strategic focus on IoT and Edge AI solutions. Additionally, Synaptics' Board of Directors approved a new share repurchase program of up to $150 million, signaling confidence in the company's financial position and future prospects. The combination of strong financial results and the buyback announcement likely contributed to the positive investor reaction in after-hours trading.