Needham Keeps a Buy Rating on Synaptics Inc (SYNA)

By Ryan Adsit

Needham analyst Rajvindra Gill maintained a Buy rating on Synaptics Inc (SYNAResearch Report) on August 9 and set a price target of $42. The company’s shares closed on Friday at $33.75.

According to TipRanks.com, Gill is a 5-star analyst with an average return of 11.9% and a 54.2% success rate. Gill covers the Consumer Goods sector, focusing on stocks such as Everspin Technologies Inc, Smart Global Holdings Inc, and Adesto Technologies Corp.

Synaptics Inc has an analyst consensus of Hold, with a price target consensus of $34.38, a 1.9% upside from current levels. In a report issued on August 9, Dougherty also upgraded the stock to Buy with a $40 price target.

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Based on Synaptics Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $46.2 million. In comparison, last year the company had a GAAP net loss of $1.5 million.

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Synaptics, Inc. engages in the development, marketing, and sale of human interface semiconductor solutions for electronic devices and products. It specializes in custom-designed human interface that enable people to interact with mobile computing, communications, entertainment, and other electronic devices.