In a report released today, Vijay Rakesh from Mizuho Securities reiterated a Buy rating on Synaptics Inc (NASDAQ: SYNA), with a price target of $55. The company’s shares closed yesterday at $48.84.
Rakesh commented:
“We believe M&A consolidation remains a trend in Semis, and while in initial phases of discussions, SYNA does provide strategic value to Dialog by increasing its footprint in the handset market from power management to Display and IoT. A look at valuations and strategic value below. We believe SYNA should be well-positioned into 2H with: 1) TDDI ramps, 2) CoF ramps with 30-50% higher content, 3) iPhone LCD and 4) strong seasonal voice assistant ramps. Reiterating out Buy rating.”
According to TipRanks.com, Rakesh is a top 25 analyst with an average return of 30.9% and a 74.9% success rate. Rakesh covers the Consumer Goods sector, focusing on stocks such as Advanced Micro Devices, NXP Semiconductors, and Skyworks Solutions.
Currently, the analyst consensus on Synaptics Inc is Moderate Buy and the average price target is $55.40, representing a 13.4% upside.
In a report issued on June 11, Craig-Hallum also reiterated a Buy rating on the stock.
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The company has a one-year high of $61.18 and a one-year low of $33.73. Currently, Synaptics Inc has an average volume of 712K.
Based on the recent corporate insider activity of 48 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, Hing Chung Wong, the SVP of Worldwide Operations of SYNA bought 2,300 shares for a total of $57,569.
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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.
