Northland, Susquehanna Raise Synaptics Price Targets After Strong Q3
Northland and Susquehanna raised their price targets on Synaptics (SYNA) after the company reported better-than-expected Q3 earnings and guided Q4 above consensus, signaling strong demand for its chips.
Northland and Susquehanna both raised their price targets on Synaptics (NASDAQ:SYNA) after the chipmaker reported fiscal third-quarter results that beat consensus estimates and issued guidance for the June quarter above expectations.
Northland increased its price target to $123 from $106, maintaining an Outperform rating, while Susquehanna lifted its target to $125 from $105, keeping a Positive rating. The upgrades follow Synaptics' Q3 adjusted EPS of $1.09, topping the $1.01 consensus, and revenue of $294.2 million, above the $290.13 million estimate. The company's guidance for the June quarter also came in higher than expected, reflecting robust demand in its end markets, particularly for IoT and automotive applications. For traders tracking chip stocks, the positive revisions underscore improving fundamentals in the semiconductor space. NowPrice's real-time commodities quotes show that broader market sentiment remains supportive for tech names.
Looking ahead, investors will focus on Synaptics' ability to sustain its growth trajectory amid macroeconomic headwinds and competitive pressures. Key data points to watch include the company's next earnings report and industry trends in semiconductor demand. The raised targets suggest analysts see further upside potential, but execution will be critical.