Synaptics Inc (SYNA) Gets a Buy Rating from Needham


Needham analyst Rajvindra Gill maintained a Buy rating on Synaptics Inc (SYNA) today and set a price target of $50. The company’s shares closed yesterday at $38.51.

Gill observed:

“In conjunction with our industry report titled, ” China, China China”, we are reducing our fiscal year estimates and PT ahead of earnings season to reflect handset weakness in China, especially at the high-end. This weakness was highlighted in recent preannouncements made by TSMC, as well as multiple presentations at CES and NGC. We expect China handset sales to remain weak throughout 2019 and are reducing our TDDI and display driver IC estimates, accordingly. On the positive side, both the PC (16% of sales) and IoT (21%) segments are expected to benefit from multiple long-term tailwinds, such as increased smart home connectivity and biometrics, the transition to the 22nm SoC product in C1H19, and growth in personal voice and Android set-top boxes.”

According to TipRanks.com, Gill is a 5-star analyst with an average return of 10.8% and a 51.8% success rate. Gill covers the Consumer Goods sector, focusing on stocks such as Everspin Technologies Inc, Smart Global Holdings Inc, and Adesto Technologies Corp.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Synaptics Inc with a $50.25 average price target.

See today’s analyst top recommended stocks >>

The company has a one-year high of $55.25 and a one-year low of $33.54. Currently, Synaptics Inc has an average volume of 600.1K.

Based on the recent corporate insider activity of 47 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. Earlier this month, Francis Lee, a Director at SYNA bought 6,000 shares for a total of $138,960.

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.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts