Needham analyst Rajvindra Gill raised his price target on Synaptics to $80 and kept his Buy rating after its $150M sale of its mobile LCD TDDI business to Hua Capital. The analyst sees the transaction as part of the company's strategic shift towards high-margin products and migration away from lower-margin product lines, saying the deal could boost Synaptics' overall gross margins by as much as 400bps. Gill notes that his new price target implies an earnings multiple of 17.5-times, which may still expand as the company's margin profile undergoes a "transformation".