Analyst Krish Sankar from TD Cowen maintained a Buy rating on Synaptics and increased the price target to $90.00 from $80.00.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Krish Sankar has given his Buy rating due to a combination of factors that highlight Synaptics’ potential for growth. The company’s recent quarterly results exceeded expectations, with revenue and earnings per share slightly above market estimates. A significant driver of this positive outlook is the Core IoT business, which demonstrated impressive year-over-year growth. This segment is expected to continue its strong performance, supported by improvements in channel inventories.
Furthermore, Synaptics’ advancements in edge AI technology, particularly through its Astra processor developed in partnership with Google, present a promising long-term growth opportunity. Although there are limited immediate catalysts for the mobile business, the company’s strengths align well with emerging trends in premium Android devices and foldables. While the enterprise and automotive sectors face some uncertainty, they are anticipated to recover in the latter half of 2026, contributing to Synaptics’ overall growth trajectory.
In another report released yesterday, Mizuho Securities also maintained a Buy rating on the stock with a $80.00 price target.