Synaptics price target raised to $130 from $110 at Rosenblatt

Rosenblatt analyst Kevin Cassidy raised the firm’s price target on Synaptics to $130 from $110 and keeps a Buy rating on the shares. Synaptics delivered an inline December quarter, with stronger than expected cost controls moving earnings above consensus, the analyst tells investors. The IoT market could outperform as designs won last year move into production, adds the analyst, who likes the company’s position for growth in IoT, Mobile and “eventually Enterprise.”