Pacific Crest Securities Reiterates on Synaptics on Dominant Market Position

In a report published Monday, Pacific Crest Securities analyst John Vinh reiterated an Outperform rating and $58.00 price target on Synaptics SYNA. In the report, Pacific Crest Securities noted, “Synaptics maintains dominant position in high-end smartphones and retains next-generation flagship win at Samsung. In our analysis, Synaptics' win was due to its ability to support hover touch. This remains a key requirement that competitors Atmel, Cypress and Melfas are still unable to effectively support. We view this as an incremental growth opportunity in 2014, as we expect the company to benefit from incremental GS5 revenues and meaningful ongoing shipments of the GS4.” Synaptics closed on Friday at 45.34.