Synaptics price target raised to $145 from $115

Susquehanna analyst Christopher Rolland raised the firm’s price target on Synaptics to $145 from $115 and keeps a Positive rating on the shares. The analyst said they reported weaker than expected results and guidance primarily as IoT performed below management expectations. Susquehanna believes Synaptics still remains in the "middle innings" of successfully executing a bona-fide turnaround and is deserving of a multiple re-rating when growth returns.