Synaptics (SYNA) Top Rating Reiterated at Needham & Company as Samsung Accelerates Adoption of Fingerprint Sensors

Needham & Company analyst Rajvindra Gill reiterated a Strong Buy rating and $100 price target on Synaptics (NASDAQ: SYNA) noting Samsung has accelerated adoption of fingerprint sensors across its portoflio.

Gill commented, "Today, Samsung unveiled its S5 Mini, a smaller version of its flagship S5 phone, and similar to S5, will have a fingerprint scanner. In addition, Samsung announced its Galaxy Tab S on 6/13. The tablet also has an integrated fingerprint scanner. We expect adoption of fingerprint sensors to become a staple across several consumer electronics. Net, we believe the fingerprint business alone could add an incremental EPS of $3+ over the next 12-24 months, and with the core touch segment generating $3-4 EPS and Renesas adding $2.50-3.00, we see a potential earnings power of $8-$10 and hence continued upside for the shares."

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 $91.88 yesterday.

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