Synaptics price target lowered to $100 from $120 at JPMorgan

JPMorgan lowered the firm’s price target on Synaptics to $100 from $120 and keeps an Overweight rating on the shares. The company’s June quarter results were slightly better than consensus, reflecting a gradual recovery profile led by strong double-digit quarter-over-growth growth in its core internet of things business, the analyst tells investors in a research note. However, the firm says the macro environment continues to pressure end demand recovery in Synaptics’ end market.