Analysts Are Bullish on These Technology Stocks: SYNC, TXN

By Jason Carr

There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Synacor Inc (NASDAQ: SYNC) and Texas Instruments (NASDAQ: TXN) with bullish sentiments.

Synacor Inc (NASDAQ: SYNC)

Rosenblatt Securities analyst Marshall Senk reiterated a Buy rating on Synacor Inc (NASDAQ: SYNC) yesterday and set a price target of $5.50. The company’s shares closed yesterday at $3.55.

Senk said:

“We believe Synacor has put the heavy lifting behind it as the company has re- positioned to benefit from the market shift from desktop search revenue to cross platform customer engagement centered around digital—video, mobile, and smart ad delivery. Large deals and recent acquisitions have helped Syn- acor scale and build a unique product portfolio to deliver these multi-platform experiences that drive engagement across devices. More specifically, the re- cently announced AT&T (T:NR) transaction which will nearly double revenues over the next few years is a significant validation of the product strategy and management team. Management continues to build out the product portfolio to support this shift via recent acquisitions that focus on building the recurring rev- enue base (Zimbra) and delivering a cross platform advertising platform (Technorati).”

According to TipRanks.com, Senk is a 3-star analyst with an average return of 2.8% and a 63.0% success rate. Senk covers the Technology sector, focusing on stocks such as Palo Alto Networks, Barracuda Networks, and Salesforce.com.

Synacor Inc has an analyst consensus of Moderate Buy, with a price target consensus of $5.

Texas Instruments (NASDAQ: TXN)

In a report released yesterday, Hans Mosesmann from Rosenblatt Securities reiterated a Buy rating on Texas Instruments (NASDAQ: TXN), with a price target of $90. The company’s shares closed yesterday at $78.72.

Mosesmann noted:

“We have been getting lots of calls of late regarding various M&A scenarios in semi’s and TI gets thrown in for good measure. This consolidation dynamic in- cludes recent possible interest by Broadcom (AVGO: Buy) in Toshiba’s (6502- TYO:NR) semiconductor group, TI’s supposed interest in AMD (AMD: Buy) (seriously?), the Qualcomm (QCOM: Buy) NXP/FSL (NXPI:NR) combination, and the recent Microchip (MCHP: Buy) acquisition of Atmel. TI’s foremost interest is in high quality analog and thus this is where we would potentially see the company to make a move in targeted areas such as auto- motive and industrial.”

According to TipRanks.com, Mosesmann is a 5-star analyst with an average return of 10.9% and a 55.3% success rate. Mosesmann covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Broadcom Ltd, and Qualcomm Inc.

Currently, the analyst consensus on Texas Instruments is Moderate Buy and the average price target is $82.69, representing a 5.0% upside.

In a report issued on April 3, RBC Capital also reiterated a Buy rating on the stock with a $84 price target.

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