Synaptics (SYNA) Top Rating Reiterated at Needham & Company as Checks Indicate Samsung Galaxy S6 Win

Needham & Company reiterated a Strong Buy and $110 price target on Synaptics (NASDAQ: SYNA) saying checks indicate the company landed the area sensor for the upcoming Samsung Galaxy S6.

Analyst Rajvindra Gill commented, "DConsistent with our checks at CES in early January, reports from website SamMobile indicated that Samsung is including a touch area sensor for its upcoming Galaxy S6. We believe SYNA will remain the sole fingerprint supplier to Samsung and the dollar content per unit should increase significantly with area sensors: $3-4 vs $1.25-1.50. Longer-term, we believe TDDI (touch display driver integration) represents a paradigm shift in smartphone displays, one in which SYNA will ultimately dominate, in our view. Earnings of $6.50-7.00 remain very achievable in FY16 in our view, and hence we believe shares are considerably undervalued. "

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 $60.25 yesterday.

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