TD Cowen analyst Krish Sankar maintained a Buy rating on Synaptics today and set a price target of $80.00.
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Krish Sankar’s rating is based on several key factors that highlight Synaptics’ potential for growth. The company has shown strength in its core IoT segment, which remains the primary driver of growth despite challenges in the automotive and mobile markets. The IoT segment’s revenue grew significantly and now represents a substantial portion of total revenues, indicating a positive trend.
Additionally, Synaptics has increased its share buyback authorization, reflecting confidence in its financial position and future prospects. Management has also indicated that tariffs are not currently impacting demand, and inventory levels are healthy. While there are some challenges, such as tepid automotive demand and foreign exchange headwinds, the overall outlook suggests that Synaptics is positioned for recovery and growth, justifying the Buy rating.
According to TipRanks, Sankar is a 5-star analyst with an average return of 16.7% and a 55.97% success rate. Sankar covers the Technology sector, focusing on stocks such as Apple, MKS, and Seagate Tech.
In another report released yesterday, Mizuho Securities also maintained a Buy rating on the stock with a $80.00 price target.