Oppenheimer analyst Andrew Uerkwitz maintained a Hold rating on Synaptics Inc (NASDAQ: SYNA) today. The company’s shares closed yesterday at $48.17.
Uerkwitz observed:
“Synaptics reported what appears to be a mixed quarter: largely in-line June-quarter results with September-quarter guidance that came in on the weaker side. However, the transitory nature of F4Q18 may be masking the positives. First, gross margin continues to improve despite lower revenues. Second, temporary shortages of TDDI (negative impact roughly $50M for FY2019E) implies core growth is better than indicated. Third, recent issues (fingerprint and TDDI) are short term and not fundamental to the long-term story. OLED IoT developments continue to be on track, if not, better than forecasted. Once we get through these near- term disruptions, we should a stronger back half and a return to year/year growth.”
According to TipRanks.com, Uerkwitz is a 5-star analyst with an average return of 14.8% and a 62.1% success rate. Uerkwitz covers the Consumer Goods sector, focusing on stocks such as Turtle Beach Corp, Universal Display, and Electronic Arts.
Synaptics Inc has an analyst consensus of Strong Buy, with a price target consensus of $55.60.
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The company has a one-year high of $55.25 and a one-year low of $33.73. Currently, Synaptics Inc has an average volume of 851.6K.
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Synaptics, Inc. engages in the development, marketing, and sale of semiconductor products. It develops and supplies custom-designed human interface solutions that enable people to interact with mobile computing, communications, entertainment, and other electronic devices.
