Needham & Company Maintains a 'Buy' on Synaptics (SYNA); Early Lead with In-Cell
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Price: $37.14 --0%
Rating Summary:
9 Buy, 3 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 4 | Down: 6 | New: 16
Rating Summary:
9 Buy, 3 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 4 | Down: 6 | New: 16
Trade SYNA Now!
Needham & Company maintains a 'Buy' on Synaptics (NASDAQ: SYNA) price target of $31.00 (from $35.00).
Analyst, Rajvindra S. Gill, said, "We maintain our Buy and lower our PT to $31 (vs. $35) following a C2Q12 beat, but C3Q12 guidance that was below expectations. We had cut our numbers on SYNA on 7/16 citing risks in PCs ahead of the Windows 8 (Nasdaq: MSFT) build and lower sell-through for its mobile customers (HTC) given European weakness. These events largely played out. Despite the near-term hiccups, we remain bullish on SYNA given its substantial lead with In-Cell, which we think could become the predominant touch technology in the future. Moreover, we believe SYNA has the right strategy in an increasingly commoditized and price competitive touch market place, with its integrated touch controller and driver IC SoC."
FY13 EPS estimate lowered from $2.00 to $1.60 and FY14 from $2.60 to $1.85.
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, with a 52 week range of $21.97-$39.89.
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Analyst, Rajvindra S. Gill, said, "We maintain our Buy and lower our PT to $31 (vs. $35) following a C2Q12 beat, but C3Q12 guidance that was below expectations. We had cut our numbers on SYNA on 7/16 citing risks in PCs ahead of the Windows 8 (Nasdaq: MSFT) build and lower sell-through for its mobile customers (HTC) given European weakness. These events largely played out. Despite the near-term hiccups, we remain bullish on SYNA given its substantial lead with In-Cell, which we think could become the predominant touch technology in the future. Moreover, we believe SYNA has the right strategy in an increasingly commoditized and price competitive touch market place, with its integrated touch controller and driver IC SoC."
FY13 EPS estimate lowered from $2.00 to $1.60 and FY14 from $2.60 to $1.85.
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, with a 52 week range of $21.97-$39.89.
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