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AAPL

Apple

$160.86

-0.64 (-0.40%)

, SYNA

Synaptics

$40.79

1.51 (3.84%)

07:35
09/13/17
09/13
07:35
09/13/17
07:35

Apple iPhone X reaffirms negative outlook for Synaptics, says Oppenheimer

Oppenheimer analyst Andrew Uerkwitz says that as widely predicted, Apple (AAPL) indeed abandons the fingerprint sensor on the drastically redesigned OLED iPhone, the iPhone X. The analyst believes the redesign may cause an "existential crisis" for fingerprint-based authentication, with the iPhone X reaffirming his negative outlook for Synaptics' (SYNA) fingerprint sensor business in general. Uerkwitz expects Synaptics' exposure to the smartphone market and challenged competitive positions to pose revenue headwinds in the next 24 months. He reiterates an Underperform rating and $35 price target on Synaptics' shares.

AAPL

Apple

$160.86

-0.64 (-0.40%)

SYNA

Synaptics

$40.79

1.51 (3.84%)

AAPL Apple
$160.86

-0.64 (-0.40%)

09/13/17
KEYB
09/13/17
NO CHANGE
KEYB
Sector Weight
Apple iPhone X 'disappointing,' says KeyBanc
KeyBanc analyst Andy Hargreaves views Apple iPhone X launch event as largely neutral. The analyst was positively surprised by the Apple Watch functionality and the price increase on the iPhone 8 and 8 Plus, but was disappointed by the lack of incremental functionality in the iPhone X to justify the $999 price point. Hargreaves believes this raises the risk that future cycles will see trade-down behavior and correlated pricing pressure. He reiterates a Sector Weight rating on the shares.
09/13/17
UBSW
09/13/17
NO CHANGE
Target $180
UBSW
Buy
Apple shares reacting in-line with historical norm, says UBS
UBS analyst Steven Milunovich said Apple shares are performing in-line with the stock's history after the company conducted its product launch presentation - down into the event and up or down a bit the day of the event. Historically, what happens next is the stock will be down for a few weeks before moving up heading into earnings. The analyst admitted there were few surprises but the event was still impressive and he said the product pricing, which he views as pushing the envelope, was higher than he expected. Milunovich reiterated his Buy rating and $180 price target on Apple shares.
09/13/17
KEYB
09/13/17
NO CHANGE
KEYB
Apple new iPhone 8/X launch largely in-line with expectations, says KeyBanc
KeyBanc analyst John Vinh says that the incremental features and enhancements associated with the new Apple (AAPL) iPhones announced are largely in-line with expectations. The analyst points out that Apple announced three new phones, with key features including facial identification, removal of the home button on the iPhone X, wireless charging, and fast charging. Vihn sees the new phone launch as most positive for Broadcom (AVGO), Cypress Semiconductor (CY), Integrated Device (IDTI), and Skyworks (SWKS).
09/13/17
FBCO
09/13/17
NO CHANGE
FBCO
Apple launch mostly as expected, says Credit Suisse
Credit Suisse analyst John Pitzer notes that Apple (AAPL) has announced four product updates largely in-line with expectations, and points out that semi companies in his coverage universe with exposure to Apple include Broadcom (AVGO), Micron (MU) and Texas Instruments (TXN).
SYNA Synaptics
$40.79

1.51 (3.84%)

08/02/17
COWN
08/02/17
NO CHANGE
Target $75
COWN
Outperform
Cowen keeps Outperform on Synaptics, says optical sensor logical for Galaxy S9
Cowen analyst Robert Stone attributes today's weakness in Synaptics (SYNA) shares to commentary claiming that Samsung (SSNLF) is likely to switch fingerprint sensor vendors for its upcoming Galaxy S9 while sticking with a capacitive sensor, which he believes would not be "a logical outcome." Given the phone's expected design, an optical sensor makes the most sense, said Stone, who expects Synaptics to provide an update on optical fingerprint sensor wins on its Thursday earnings call. He keeps an Outperform rating and $75 price target on Synaptics shares, which are down nearly 5% in morning trading.
08/04/17
CHLM
08/04/17
UPGRADE
Target $55
CHLM
Buy
Synaptics upgraded to Buy from Hold at Craig-Hallum
Craig-Hallum analyst Anthony Stoss upgraded Synaptics to Buy from Hold, as he expects to see substantial TDDI volume increases in FY18 and believes its optical fingerprint sensor should be a strong growth driver. The analyst, who also thinks acquisitions have positioned Synaptics to benefit from the IoT market, lowered his price target on the shares to $55 from $62 after the company reported in-line results and guided below consensus estimates.
08/04/17
08/04/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. GoPro (GPRO) was upgraded to Neutral from Underperform at Longbow and to Market Perform from Underperform at Raymond James. 2. Yelp (YELP) was upgraded to Buy from Neutral at MKM Partners and to Neutral from Sell at Roth Capital. 3. Synaptics (SYNA) upgraded to Buy from Hold at Craig-Hallum with analyst Anthony Stoss saying he expects to see substantial TDDI volume increases in fiscal 2018 and believes its optical fingerprint sensor should be a strong growth driver. 4. Activision Blizzard (ATVI) upgraded to Buy from Neutral at BofA/Merrill with analyst Justin Post citing the solid second quarter beat on strong digital content. 5. Arista Networks (ANET) was upgraded to Overweight from Neutral at JPMorgan and to Outperform from Market Perform at William Blair. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/22/17
OPCO
08/22/17
NO CHANGE
Target $35
OPCO
Underperform
Synaptics price target lowered to $35 from $45 at Oppenheimer
Oppenheimer analyst Andrew Uerkwitz lowered his price target for Synaptics (SYNA) to $35 from $45, citing his bearish outlook on the company's fingerprint and DDIC business. The analyst's model implies "significant" fingerprint revenue loss from Samsung (SSNLF) and ongoing decline of DDIC revenues from Apple (AAPL). Meanwhile, Uerkwitz believes its new products such as optical fingerprint sensor and OLED DDIC are unlikely to offset the decline until after FY19. He reiterates an Underperform rating on Synaptics' shares.

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IBM

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