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Fly News Breaks for May 10, 2019
SYNA
May 10, 2019 | 09:36 EDT
BMO Capital analyst Ambrish Srivastava lowered his price target on Synaptics to $29 after its mixed Q3 results showed a beat on earnings thanks to higher gross margins but a miss on revenue. The analyst cites the company's 25% and 28% sequential declines in Mobile products and IoT products respectively, even though its PC product segment was up 4%. Srivastava also keeps his Market Perform rating and sees Synaptics stock as reasonably valued at current levels.
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