Synaptics ( (SYNA) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Synaptics’ stock climbed following the announcement of a strategic licensing agreement with Broadcom. This partnership aims to advance Synaptics’ Edge AI strategy by incorporating Broadcom’s cutting-edge wireless technologies into IoT and Android systems. The collaboration is set to enhance Synaptics’ IoT business, potentially adding over $40 million in annual revenue and positively impacting earnings per share. Analysts are maintaining a strong buy consensus, affirming optimistic price targets due to the expected benefits from this partnership.
More about Synaptics
YTD Price Performance: -2.36%
Average Trading Volume: 545,010
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $3.23B
For further insights into SYNA stock on TipRanks’ Stock Analysis page.
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