Synaptics Analysts Raise Their Forecasts After Upbeat Earnings

Synaptics Incorporated SYNA reported better-than-expected first-quarter financial results on Thursday.

Synaptics posted adjusted earnings of 52 cents per share, beating market estimates of 40 cents per share. The company’s sales came in at $237.7 million versus expectations of $232.7 million.

Synaptics said it sees second-quarter revenue of $220 million to $250 million versus estimates of $239.82 million.

Synaptics shares gained 14.1% to trade at $100.94 on Friday.

These analysts made changes to their price targets on Synaptics following earnings announcement.

• Keybanc raised the price target on Synaptics from $115 to $125. Keybanc analyst John Vinh maintained an Overweight rating.
• Needham increased the price target on Synaptics from $100 to $115. Needham analyst Rajvindra Gill maintained a Buy rating.
• Susquehanna boosted the price target on Synaptics from $100 to $115. Susquehanna analyst Christopher Rolland maintained a Positive rating.
• Rosenblatt raised the price target on Synaptics from $100 to $110. Rosenblatt analyst Kevin Cassidy maintained a Buy rating.

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