Sterne Agee Maintains a 'Buy' on Synaptics (SYNA); Solid Quarter, Guidance Surprises

August 3, 2012 8:59 AM EDT
Get Alerts SYNA Hot Sheet
Price: $54.90 +0.53%

Rating Summary:
    13 Buy, 6 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 24 | Down: 17 | New: 14
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Sterne Agee maintains a 'Buy' on Synaptics (NASDAQ: SYNA) price target of $31.00 (from $33.00).

Analyst, Shaw Wu, said, "SYNA reported a solid quarter beating consensus revenue and EPS. While guidance was widely anticipated to be muted given difficult macroeconomic conditions, it turned out to be more conservative than expected. With proactive investments focused on growth and new markets, we believe the company is positioned to see a re-acceleration in the 2H of FY13."

"For FY13, we are now at $548 million in revenue and $1.85 in EPS (from $580 million and $2.35 in EPS) vs. consensus at $585 million and $2.30 in EPS. We are also introducing FY14 estimates of $609 million and $2.20 in EPS."

For an analyst ratings summary and ratings history on Synaptics click here. For more ratings news on Synaptics click here.

Shares of Synaptics closed at $25.44 yesterday.

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