TD Cowen analyst Krish Sankar maintained a Buy rating on Synaptics (SYNA – Research Report) yesterday and set a price target of $100.00.
Krish Sankar has given his Buy rating due to a combination of factors that suggest positive long-term growth prospects for Synaptics. One key aspect is the acquisition of Broadcom’s WiFi8 assets, which is expected to enhance Synaptics’ market reach into Android smartphones and fortify its position in the WiFi/GPS combo IoT products sector. Although current recovery is gradual, projections indicate a strong growth year in CY26 with an anticipated 22% increase in revenue, aligning with the set price target of $100.
Moreover, Synaptics’ recent financial guidance and performance have shown promising signs. The company’s revenue and EPS guidance for the upcoming quarter surpassed market expectations, suggesting a more robust performance than typical seasonal trends. Additionally, the integration of Broadcom’s engineers and the expected revenue contributions from the acquired portfolio further add to Synaptics’ growth potential. Overall, these factors, combined with the strategic product developments and improved visibility in the automotive segment, underpin Krish Sankar’s optimistic outlook for Synaptics.
According to TipRanks, Sankar is a 5-star analyst with an average return of 21.5% and a 62.10% success rate. Sankar covers the Technology sector, focusing on stocks such as Micron, Pure Storage, and Kulicke & Soffa.
In another report released yesterday, Rosenblatt Securities also reiterated a Buy rating on the stock with a $105.00 price target.