Synaptics price target lowered to $100 from $115 at KeyBanc

KeyBanc lowered the firm’s price target on Synaptics to $100 from $115 and keeps an Overweight rating on the shares. Synaptics’ Q4 results were strong and the company guided Q1 results slightly lower, the analyst tells investors in a research note. The firm is encouraged by indications Enterprise has bottomed and believes Synaptics remains well positioned for a strong cyclical recovery and a return to long-term IoT-driven growth.