UPDATE: Stifel Nicolaus Raises PT to $38 on Synaptics Incorporated Following Beat and Guidance Raise

Stifel Nicolaus reiterated its Buy rating on Synaptics Incorporated SYNA and raised the price target from $36.00 to $38.00. Stifel Nicolaus commented, "Synaptics delivered a solid beat of December quarter results and guidance beat our Street high estimates as a wide range of mobile touch screen design wins ramped into production. Looking out future quarters we expect another wave of PC, tablet and handset designs to move into production. We continue recommending investors buy SYNA as the company touch technology evolves and is adopted into a wider range of devices." Synaptics Incorporated closed at $32.55 on Thursday.