Synaptics Analysts Raise Their Forecasts After Upbeat Earnings
Portfolio Pulse from Lisa Levin
Synaptics Incorporated (NASDAQ:SYNA) exceeded Q1 earnings and revenue expectations, posting adjusted earnings of $0.52 per share against estimates of $0.40 and revenue of $237.7 million versus the expected $232.7 million. The company anticipates Q2 revenue to be between $220 million and $250 million, compared to estimates of $239.82 million. Following the earnings report, Synaptics' stock rose 14.1% to $100.94. Analysts from Keybanc, Needham, Susquehanna, and Rosenblatt have raised their price targets on Synaptics, maintaining positive ratings.
November 10, 2023 | 6:04 pm
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POSITIVE IMPACT
Synaptics reported strong Q1 results, surpassing earnings and revenue estimates, and experienced a significant stock price increase. Analysts have raised price targets, indicating confidence in the company's performance.
The positive earnings report and subsequent increase in analyst price targets suggest a bullish outlook for Synaptics in the short term. The stock's significant rise post-earnings indicates strong investor confidence, which is likely to continue in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100