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Fly News Breaks for May 10, 2019
May 10, 2019 | 09:24 EDT
Craig-Hallum analyst Anthony Stoss lowered his price target for Synaptics to $39 from $47 and maintained a Buy rating after the company guided well below Street estimates for the June quarter, saying that with Synaptics trading down ~20% since his cautious preview, the stock is cheap enough to be interesting to investors at just 9.6x his reset FY20 estimates. Stoss reiterated his Buy rating, adding that Synaptics had some encouraging commentary on its conference call highlighting several new design wins for OLED DDICs in smartphones and a new USB-C solution shipping into what the analyst believes is Samsung's note headphones that ship in the box.
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