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UPDATE: Lake Street Initiates Coverage on Synaptics with a Buy Rating

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In a report issued Wednesday, May 14, Lake Street Capital initiated coverage of Synaptics, Inc. (NASDAQ: SYNA) with a Buy rating and $71 price target.

Lake Street Capital analyst Jaeson Schmidt stated, “With a rapidly growing TAM driven by proliferation of touchscreen devices and an emerging wave of biometric (fingerprint) adoption, a market leading position, and the stock trading at only 10x (ex cash) our FY16 EPS estimate of $5.03, we think the stock is poised to go higher.”

With past acquisitions of Validity Sensors, a biometric sensor firm, and Palcinian, a firm specializing in Thintouch keyboards, the company is said to be in a position to address the emerging technology of biometic sensors in consumer electronic, and add growth to its industry-leading touch market share.

Synaptics shares are down about $0.50 to $59.75 despite the bullish new rating. Schmidt's new price target implies potential upside of about 18 percent.

Latest Ratings for SYNA

DateFirmActionFromTo
Apr 2015BMO CapitalMaintainsOutperform
Mar 2015Northland SecuritiesInitiates Coverage onOutperform
Jan 2015Stifel NicolausMaintainsBuy

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Posted-In: Analyst Color News Price Target Initiation Analyst Ratings

 

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