Mizuho Securities analyst Vijay Rakesh reiterated a Buy rating on Synaptics Inc (NASDAQ: SYNA) today and set a price target of $55. The company’s shares opened today at $45.86.
Rakesh commented:
“We hosted investor meetings with CFO VP/ GM of Audio and imaging products. We believe SYNA presents an interesting opportunity as it bridges the gap from LCD to OLED and into IoT, with key drivers into 1) LCD CoR ramping globally with the Sep12 iPhone launch a key catalyst for China OEMs, 2) OLED driver IC and flex touch ramps with key customers BOE in headsets with potential OEMs ramps, 4) Voice assistant ramps with GOOG, AMZN, and licensed by both QCOM and NXPI. Reiterating our Buy rating and $55PT with attractive valuation (~9x F19E) and diversified portfolio.”
According to TipRanks.com, Rakesh is a top 100 analyst with an average return of 25.3% and a 63.9% success rate. Rakesh covers the Consumer Goods sector, focusing on stocks such as Skyworks Solutions, Texas Instruments, and Cypress Semicon.
Currently, the analyst consensus on Synaptics Inc is a Moderate Buy with an average price target of $56.14, a 22.4% upside from current levels. In a report issued on August 29, Craig-Hallum also reiterated a Buy rating on the stock with a $56 price target.
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Based on Synaptics Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $1.5 million. In comparison, last year the company had a net profit of $17.8 million.
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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.
