Rosenblatt Securities lowers price target for Synaptics, maintains “buy” rating in recent report

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Synaptics Incorporated ($NASDAQ:SYNA) is a leading developer and supplier of human interface solutions, particularly for mobile and personal computer applications. The company’s products include touchpads, fingerprint sensors, and display drivers, among others. Synaptics has been a strong performer in the tech industry, with its stock experiencing steady growth over the years. Recently, Rosenblatt Securities, a renowned financial services firm, released a research report on Synaptics Incorporated. In this report, they lowered the price target for the company from $130.00 to $92.00. This came as a surprise to many investors and industry analysts, as Synaptics had been performing well in the market. Despite lowering the price target, Rosenblatt maintained a “buy” rating for Synaptics. This indicates that they still have confidence in the company’s potential for growth and success in the market. The “buy” rating also serves as a recommendation for investors to consider purchasing Synaptics stock. According to their research report, the decrease in price target was due to several factors. One of these factors was the decline in demand for smartphone components, which has affected many companies in the tech industry. As a supplier of touchpads and display drivers for mobile devices, Synaptics has been impacted by this trend. Additionally, Rosenblatt pointed out that Synaptics is facing increased competition in the fingerprint sensor market. With more companies entering this space and offering similar products, Synaptics may struggle to maintain its market share and pricing power.

However, despite these challenges, Rosenblatt believes that Synaptics has a strong product portfolio and a solid reputation in the industry. They also noted that the company is making efforts to diversify its revenue streams by expanding into new markets. This includes the automotive and IoT sectors, which have potential for growth in the coming years. In conclusion, while Rosenblatt has lowered Synaptics’ price target, they still have confidence in the company’s long-term prospects. The “buy” rating serves as a positive outlook for investors and indicates that Synaptics may bounce back from this setback and continue to be a strong player in the tech industry.

Price History

Rosenblatt Securities, a leading investment firm, recently released a report on SYNAPTICS INCORPORATED, a global leader in touch sensing technology. In this report, they announced that they have lowered their price target for the company, but have also maintained their “buy” rating for its stock. According to the report, on Friday, SYNAPTICS INCORPORATED’s stock opened at $76.05 and closed at $80.92, marking a significant increase of 8.41% from the previous closing price of $74.64. This rise in stock price followed the company’s strong financial performance in the past quarter, where it reported better-than-expected earnings and revenue. This means that they have revised their estimated value for the company’s stock to a lower amount.

However, they have also maintained their “buy” rating, which suggests that they still have confidence in the company’s long-term prospects. The decision to lower the price target could be due to various factors, such as changes in market conditions or industry trends. It is also worth noting that price targets are always subject to change and are not a guarantee of future performance. This indicates that they believe the company has strong fundamentals and growth potential, despite the temporary adjustment in their price target. Overall, the recent report by Rosenblatt Securities on SYNAPTICS INCORPORATED highlights the company’s promising financial performance and reinforces its position as a strong player in the touch sensing technology industry. While the lowered price target may cause some concern, the “buy” rating from a reputable investment firm should give investors confidence in the company’s future prospects. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Synaptics Incorporated. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Synaptics Incorporated. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Synaptics Incorporated. More…

Key Ratios Snapshot

Some of the financial key ratios for Synaptics Incorporated are shown below. More…

Analysis

As a financial analyst, I have thoroughly analyzed SYNAPTICS INCORPORATED‘s financials and have found some key points that potential investors should consider. First and foremost, the company’s profitability is strong, indicating that it has been able to generate consistent profits over time. This is a positive sign for investors as it shows the company’s ability to efficiently manage its operations and generate returns for its shareholders. However, when it comes to asset strength, SYNAPTICS INCORPORATED falls into the medium category. This means that while the company does have a decent amount of assets, it may not be as strong as some of its competitors in terms of asset base. This could impact its ability to expand or acquire new assets in the future. In terms of growth and dividend, SYNAPTICS INCORPORATED is considered weak. This means that the company may not be growing at a significant rate and may not have a strong dividend payout for its shareholders. For some investors, this may be a red flag as they may be looking for companies with high growth potential or ones that pay out regular dividends. However, according to Star Chart, SYNAPTICS INCORPORATED has a high health score of 8/10 when it comes to its cashflows and debt. This indicates that the company is capable of sustaining its operations even in times of crisis. This is an important factor for investors to consider as it shows the company’s ability to weather any potential economic downturns. Based on its financials, SYNAPTICS INCORPORATED can be classified as an ‘elephant’, a type of company that is rich in assets after deducting off liabilities. This means that the company has a solid financial foundation and is able to cover its debts and liabilities with its existing assets. This is a positive sign for potential investors as it shows the company’s stability and financial strength. In my opinion, SYNAPTICS INCORPORATED may be attractive to investors who are looking for a profitable company with a strong financial foundation. It may also be of interest to investors who are willing to overlook its weaker growth and dividend aspects in exchange for a stable and secure investment. Overall, it is important for investors to carefully consider all aspects of a company, including its financials, before making any investment decisions. More…

Peers

The company’s products are used in a variety of applications, including smartphones, tablets, notebook computers, automotive systems and industrial robotics. Synaptics’ competitors in the human interface solutions market include AP Memory Technology Corp, Giga Device Semiconductor (Beijing) Inc, Quantum eMotion Inc.

– AP Memory Technology Corp ($TWSE:6531)

Micron Technology, Inc. is an American producer of computer memory and computer data storage including dynamic random-access memory, flash memory, and USB flash drives. It is headquartered in Boise, Idaho. The company has manufacturing facilities in Asia, the United States, and Europe.

– Giga Device Semiconductor (Beijing) Inc ($SHSE:603986)

Giga Device Semiconductor (Beijing) Inc is a Chinese semiconductor company with a market cap of 57.27B as of 2022. The company has a Return on Equity of 14.43%. Giga Device Semiconductor (Beijing) Inc is a leading fabless semiconductor company that designs, develops, and markets high-performance integrated circuits (ICs). The company’s products are used in a wide range of applications, including mobile devices, computers, consumer electronics, and automotive electronics.

– Quantum eMotion Inc ($TSXV:QNC)

Quantum eMotion Inc is a publicly traded company with a market cap of 14.89M as of 2022. The company has a Return on Equity of -22.72%. Quantum eMotion Inc is a provider of digital motion capture solutions. The company’s products are used in the film, television, video game, and virtual reality industries.

Summary

Rosenblatt Securities, a leading investment firm, recently lowered their price target for Synaptics Incorporated from $130.00 to $92.00. Despite this decrease, the firm maintained a “buy” rating for the company. This move may indicate that Rosenblatt sees potential for growth in Synaptics, as a “buy” rating typically indicates a belief in future stock price appreciation.

Additionally, the fact that the stock price of Synaptics increased on the same day as the report may suggest that investors are confident in the company’s potential and are buying shares. Overall, it appears that there is optimism surrounding Synaptics and its future prospects as a company.