Synaptics Inc (SYNA) Receives a Hold from Oppenheimer


Oppenheimer analyst Andrew Uerkwitz maintained a Hold rating on Synaptics Inc (SYNA) today. The company’s shares closed yesterday at $31.72, close to its 52-week low of $31.39.

Uerkwitz observed:

“Synaptics reported F3Q19 revenue/EPS of $334M/$0.83, comparing to our $341M/ $0.71E and Street’s $343M/$0.72E. The top line was slightly below the recently reduced guidance as of March 15th. We believe a tough handset market and a temporary vacuum in senior management will continue to have a negative impact on SYNA’s near-term outlook. We believe SYNA’s IoT initiative will also see headwinds in the next 12-18 months, based on recent channel checks. On the brighter side, SYNA does participate in a meaningful ramp of Chinese OLED capacity. The company also won a USB-C win at a top 3 handset OEM. For SYNA management is laser focused on margin improvement and profitability, which could mean further product- level restructuring. Given ongoing executive search, a weak handset market, and IoT product headwind, we remain sidelined.”

According to TipRanks.com, Uerkwitz is a 5-star analyst with an average return of 18.2% and a 57.4% success rate. Uerkwitz covers the Consumer Goods sector, focusing on stocks such as Axon Enterprise Inc, Turtle Beach Corp, and Universal Display.

Synaptics Inc has an analyst consensus of Moderate Buy, with a price target consensus of $41.60, a 31.1% upside from current levels. In a report released today, Mizuho Securities also maintained a Hold rating on the stock.

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The company has a one-year high of $55.25 and a one-year low of $31.39. Currently, Synaptics Inc has an average volume of 755.1K.

Based on the recent corporate insider activity of 55 insiders, corporate insider sentiment is neutral on the stock.

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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.

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