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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 $34.93, close to its 52-week low of $34.66.

Gill noted:

“We maintain our Buy and increase our price target to $63 (vs. $58) following a solid quarter and guide. Gross margins continue to improve and we see a clear trajectory to 40% over the next several quarters. We foresee multiple and innovative product lines such as COF, TDDI, and OLED spurring growth in the mobile division. We note several of these products carry ASPs 30-50% higher than the previous solutions. IoT is a long-term growth driver and we expect ramps in the connected home, AR/VR, smart speakers and USB-C digital headsets.”

According to TipRanks.com, Gill is a 5-star analyst with an average return of 14.2% and a 54.4% success rate. Gill covers the Consumer Goods sector, focusing on stocks such as Smart Global Holdings Inc, Adesto Technologies Corp, and Silicon Laboratories.

Synaptics Inc has an analyst consensus of Moderate Buy, with a price target consensus of $55.17.

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The company has a one-year high of $55.25 and a one-year low of $34.66. Currently, Synaptics Inc has an average volume of 552.7K.

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.