Jefferies Maintains Underperform On Synaptics (SYNA)

Jefferies released a company update on Synaptics

today. The firm's analysts are maintaining their Underperform rating on the stock. They wrote, "we maintain our Underperform rating due to (1) increasing competitive dynamics in the handset market, (2) declining ASPs due to a continued mix shift to lower priced chips/tails, which we expect to accelerate going forward, and (3) potential inventory concerns in PC." Jefferies has a $20 price target on SYNA shares. During the current trading session, the stock has fallen 1.01% to $25.57. Synaptics Incorporated is a worldwide developer and supplier of custom-designed user interface solutions that enable people to interact and intuitively with a variety of mobile computing, communications, entertainment and other electronic devices.