Synaptics (SYNA) Numbers Raised at Sterne Agee on Galaxy S4 Design Win

March 21, 2013 10:39 AM EDT
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Price: $54.61 +2.52%

Rating Summary:
    13 Buy, 6 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Sterne Agee's Shaw Wu raised estiamtes and his price target on Buy-rated Synaptics (NASDAQ: SYNA) from $40 to $45 to factor in a Samsung Galaxy S4 design win.

"From our supplier checks, we have been able to pick up that the company is
involved in at least several international models of the highly anticipated Samsung
Galaxy S4," Wu said. "Being by far Samsung's top selling smartphone, we believe there could be dual sourcing. Nonetheless, we are raising our estimates and PT reflecting what we believe are conservative assumptions. Despite the stock being an outstanding outperformer in recent months, we believe there is still room for upside."

For the March quarter, they now see $147 million in revenue and $0.58 in EPS (from $144 million and $0.56 in EPS). For FY13, $573 million and $2.10 in EPS (from $563.5 million and $2.05 in EPS) vs. consensus at $569 million and $2.03 in EPS) and for FY14, $654 million and $2.60 in EPS (from $616.9 million and $2.25 in EPS) vs. consensus at $643 million and $2.39 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 $39.78 yesterday.

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