SYNA has fallen for the past week and is approaching minor support at $86.11 and major support at $84.35
6/29/2019 8:18 ET Breifing.com
Synaptics upgrade details — to Outperform at Oppenheimer; tgt $105 (86.32)
Oppenheimer upgrades SYNA to Outperform from Perform and sets target price at $105 noting co has declined 14% over the last seven trading days (vs. NASDAQ +0.3%) on what firm believes is unjustified fear over a Digitimes article. It claimed that Apple (AAPL) is developing an in-house TDDI solution. They see this as highly speculative. And even if true, Apple’s TDDI is unlikely to come to fruition until 2018. While firm fully respects AAPL’s ability to integrate and build leading-edge solutions, they believe it is far too difficult to build a TDDI solution for the resolution and touch capabilities needed for an Apple device. Thus, they see the recent sell-off as unjustified and a NT buying opportunity.