JPMorgan analyst Peter Peng initiated coverage of Synaptics with an Overweight rating and $130 price target. Synaptics is emerging as a” strong player” in the high performance segment of the internet of things market, led by its best-in-class Wi-Fi/Bluetooth combo technology, the analyst tells investors in a research note. The firm says the company is leveraging its core technology to move into the broad segment of the IoT market for further market share gain.
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