Needham Thinks Synaptics Inc’s Stock is Going to Recover


Needham analyst Rajvindra Gill maintained a Buy rating on Synaptics Inc (SYNA) today and set a price target of $63. The company’s shares closed yesterday at $35.38, close to its 52-week low of $33.54.

Gill commented:

“This week, we hosted a well-attended call with Mr. Huibert Verhoeven, Senior VP and IoT Division. Net, we are confident that the IoT business should rebound in C1H19 as SYNA’s major smart speaker customer (we think Google) transitions to the next-generation 22nm SoC product. Moreover, we outline growth drivers in Android set-top boxes, USB-C digital headsets, and digital assistance devices. We believe that voice will become the major interface between humans and devices in the future. SYNA has the right technological portfolio, in terms of low-power voice SoCs and ML/AI software, to capitalize on this trend.”

According to TipRanks.com, Gill is a 5-star analyst with an average return of 12.6% and a 52.6% success rate. Gill covers the Consumer Goods sector, focusing on stocks such as Everspin Technologies Inc, Smart Global Holdings Inc, and Adesto Technologies Corp.

Currently, the analyst consensus on Synaptics Inc is a Moderate Buy with an average price target of $54.33, implying a 53.6% upside from current levels. In a report issued on November 9, Craig-Hallum also maintained a Buy rating on the stock with a $50 price target.

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Based on Synaptics Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $3.8 million. In comparison, last year the company had a GAAP net loss of $26.5 million.

Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SYNA in relation to earlier this year. Last month, James Whims, a Director at SYNA bought 6,000 shares for a total of $195,180.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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