Synaptics Gets Price Target Cuts From Analysts After Q3 Results

Synaptics Incorporated SYNA reported better-than-expected earnings for its third quarter.

Synaptics posted quarterly earnings of $1.89 per share, beating market estimates of $1.86 per share. The company’s quarterly sales came in at $326.60 million, versus expectations of $325.47 million.

Synaptics shares dropped 17% to $73.69 on Thursday.

These analysts made changes to their price targets on Synaptics after the company released Q1 deliveries numbers.

• Keybanc cut the price target on Synaptics from $140 to $100. Keybanc analyst John Vinh maintained an Overweight rating on the stock.
• Mizuho lowered Synaptics price target from $155 to $130. Mizuho analyst Vijay Rakesh maintained a Buy rating on the stock.
• Wells Fargo cut Synaptics price target from $105 to $75. Wells Fargo analyst Gary Mobley maintained the stock with an Equal-Weight.
• Rosenblatt reduced Synaptics price target from $160 to $100. Rosenblatt analyst Kevin Cassidy maintained a Buy rating on the stock.
• Needham lowered the price target on Synaptics from $165 to $115. Needham analyst Rajvindra Gill maintained the stock with a Buy.
• Craig-Hallum cut Synaptics price target from $150 to $115. Craig-Hallum analyst Anthony Stoss maintained the stock with a Buy.
• BMO Capital cut Synaptics price target from $135 to $80. BMO Capital analyst Ambrish Srivastava maintained the stock with a Market Perform rating.