BMO Capital lowered its price target on Synaptics (NASDAQ: SYNA) to $46.00 (from $56.00) while maintaining a Market Perform rating, following the company's fourth quarter earnings report.

Analyst Ambrish Srivastava notes the company delivered fourth quarter earnings per share and revenues in-line with the Street's estimates, despite deterioration in the core business, reflected in management's lower FY1Q18 guidance.