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Fly News Breaks for December 19, 2019
SYNA
Dec 19, 2019 | 10:51 EDT
Summit Insights analyst Kinngai Chan upgraded Synaptics to Buy from Hold after the company announced a deal to sell its Asia-based, mobile LCD TDDI business to Hua Capital for $120M in cash. His checks pointed to increased competition from Asian suppliers, making him concerned about its mobile TDDI business moving into 2020, and the sale makes him more comfortable about the company's medium to longer-term growth, Chan tells investors.
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