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Fly News Breaks for June 20, 2017
MRVL, SYNA
Jun 20, 2017 | 09:21 EDT
Needham analyst Rajvindra Gill attributes the 8% slide in Synaptics (SYNA) shares since the company's announcement of the acquisitions of Conexant and Marvell's (MRVL) multimedia business to the deals' accretion being overshadowed by near-term concerns about the handset business in China as well as some questions about the Marvell deal. However, he remains supportive of the deal and keeps a Buy rating and $65 price target on Synaptics shares.
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