- Since 2020, chip stocks are up 82%, easily beating the 54% gain for the Nasdaq Composite, Barron's reports.
- Big names like Advanced Micro Devices Inc AMD and NVIDIA Corp NVDA have gotten much of the attention, but a little-known chip maker has beat them all: Synaptics Inc SYNA.
- Once a low-key provider of chips used for PC touchpads, mobile phone screens, and fingerprint scanners, Synaptics has turned itself into a play on the Internet of Things, which aims to bridge the physical and digital worlds, the author notes.
- In recent months, though, Synaptics has been caught up in the broader tech selloff, with shares down 28% from their December peak.
- Savitz contends that the pullback is a good entry point for investors who missed the original rally.
- Price Action: SYNA shares closed lower by 3.05% at $212.11 on Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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