- Needham analyst Rajvindra Gill raised the price target on Synaptics Inc SYNA to $220 from $200, implying a 50.3% upside, and maintained a Buy rating.
- Gill praised Synaptics' Q4 results and gross margins. He adds that Synaptics' earnings have grown 120% over the last three fiscal years and has been one of the best performers in the SOX index with a 51% year-to-date advance.
- Synaptics' Q4 sales of $327.8 million beat the analyst consensus of $324.5 million. EPS of $2.18 beat the analyst consensus of $2.00.
- Susquehanna analyst Christopher Rolland raised the price target to $180 from $150, implying a 23% upside, and reiterated a Positive.
- Rolland believes Synaptics is in the middle innings of successfully executing a bonafide turnaround, with the results as another point of confirmation.
- Craig-Hallum analyst Anthony Stoss raised the price target to $175 from $160, implying a 19.5% upside, and kept a Buy rating.
- Stoss acknowledged the Q4 earnings beat and the compelling margins.
- Rosenblatt raised the price target from $165 to $175 and reiterated a Buy.
- BMO Capital analyst Ambrish Srivastava raised the price target to $165 from $140, implying a 12.7% upside, and affirmed a Market Perform after its Q4 earnings beat.
- Srivastava hailed the company's solid performance and exceptional gross margin trajectory. However, the stock looks reasonably valued at current levels, he notes.
- Price action: SYNA shares traded higher by 15.9% at $169.64 on the last check Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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