In a report released today, Vijay Rakesh from Mizuho Securities maintained a Buy rating on Synaptics Inc (SYNA). The company’s shares opened today at $37.38.
Rakesh wrote:
“We would note SYNA MarQ Mobile guide of down ~19% q/q is inline or better than peers (versus SWKS down 20% q/q, QRVO down 25% q/q and NXPI down ~33% q/q). While MarQ is seeing pickup with CoF/TDDI with China handset OEMs, we believe iPhone continues to be a bigger drag. We see improving 2H19 trends with CoF, OLED and a rebound in IoT. Maintaining our Buy, adjusting estimates and PT to $48 (from $50).”
According to TipRanks.com, Rakesh is a top 100 analyst with an average return of 20.6% and a 60.4% success rate. Rakesh covers the Consumer Goods sector, focusing on stocks such as Skyworks Solutions, Texas Instruments, and Western Digital.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Synaptics Inc with a $48.67 average price target, representing a 30.2% upside. In a report issued on January 24, Needham also maintained a Buy rating on the stock with a $50 price target.
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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 560.6K.
Based on the recent corporate insider activity of 57 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, Francis Lee, a Director at SYNA bought 6,000 shares for a total of $138,960.
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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.
