Sterne Agee Maintains a 'Buy' on Synaptics (SYNA); Solid Quarter, Guidance Surprises
Tweet Send to a FriendGet Alerts SYNA Hot Sheet
Price: $37.95 +1.36%
Rating Summary:
9 Buy, 3 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
9 Buy, 3 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade SYNA Now!
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, with a 52 week range of $21.97-$39.89.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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, with a 52 week range of $21.97-$39.89.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Morgan Stanley Maintains Bullish Stance on Walter Energy (WLT)
- Goldman Sachs Upgrades Enbridge (ENB) to Conviction Buy
- UPDATE: Canaccord Genuity Starts T-Mobile US, (TMUS) at Hold
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
Sterne Agee
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
