Mizuho Securities analyst Vijay Rakesh maintained a Hold rating on Synaptics Inc (SYNA) today. The company’s shares closed yesterday at $31.72, close to its 52-week low of $31.39.
Rakesh wrote:
“We believe the guide was on weaker Mobile as customers clear inventory. SYNA noted some recovery in IoT, while PC remains stable. SYNA continues to target 40%+ GM, potentially with better mix, as IoT becomes a larger portion of revenue. The JunQ Mobile guide of down ~16% q/q (versus SWKS up 2%, QRVO up ~16%, and NXPI up ~5%) could reflect TDDI/CoF market share challenges. Maintaining our Neutral rating and adjusting estimates. PT to $35 (prior $39).”
According to TipRanks.com, Rakesh is a top 100 analyst with an average return of 21.6% and a 61.8% success rate. Rakesh covers the Consumer Goods sector, focusing on stocks such as Skyworks Solutions, Texas Instruments, and Cypress Semicon.
Synaptics Inc has an analyst consensus of Moderate Buy, with a price target consensus of $41.60.
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The company has a one-year high of $55.25 and a one-year low of $31.39. Currently, Synaptics Inc has an average volume of 755.1K.
Based on the recent corporate insider activity of 55 insiders, corporate insider sentiment is neutral on the stock.
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Synaptics, Inc. engages in the development, marketing, and sale of human interface semiconductor solutions for electronic devices and products. It specializes in custom-designed human interface that enable people to interact with mobile computing, communications, entertainment, and other electronic devices.
