What Made Oppenheimer Upgrade Synaptics’ Stock?

Oppenheimer analyst Martin Yang upgraded Synaptics (SYNA) to Buy today and set a price target of $140.00. The company’s shares closed last Thursday at $106.87, close to its 52-week high of $108.01.

According to TipRanks.com, Yang is a 2-star analyst with an average return of 4.3% and a 57.9% success rate. Yang covers the Technology sector, focusing on stocks such as QuickLogic, MagnaChip, and Corning.

Synaptics has an analyst consensus of Strong Buy, with a price target consensus of $126.25, which is a 21.0% upside from current levels. In a report released yesterday, Mizuho Securities also maintained a Buy rating on the stock with a $120.00 price target.

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Based on Synaptics’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $328 million and GAAP net loss of $2.8 million. In comparison, last year the company earned revenue of $340 million and had a net profit of $4 million.

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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. It operates through the following geographical segments: China, Japan, United States, South Korea, Taiwan, and Other. The company was founded by Federico Faggin and Carver A. Mead in March 1986 and is headquartered in San Jose, CA.

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