Deutsche Bank Gives Synaptics (SYNA) a Buy Rating

Synaptics Incorporated (NASDAQ:SYNA) is one of the 14 Small Publicly Traded Semiconductor Companies to Invest in Now. On September 11, Deutsche Bank initiated coverage on Synaptics Incorporated (NASDAQ:SYNA), assigning a Buy rating and setting the price target at $85.

The investment bank has a positive outlook on Synaptics Incorporated (NASDAQ:SYNA) as it shifts from a mobile-centric company to a provider of connectivity and processor solutions across a wide range of industries.

Deutsche Bank pointed out that Synaptics Incorporated (NASDAQ:SYNA) has lowered its mobile concentration, which used to represent about 40% of the company’s revenue. The company has also reduced customer concentration, especially with Apple Inc. (AAPL), which used to represent about 30% of sales.

The investment bank expects Synaptics Incorporated’s (NASDAQ:SYNA) revenue, margin, and EPS growth to accelerate. This growth will be driven by the core IoT segment and cyclical rebounds in the Enterprise and Auto segments.

Synaptics Incorporated (NASDAQ:SYNA) designs and sells custom semiconductor solutions for a wide range of applications, including human-machine interfaces and AI-native embedded computing.

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Disclosure: None. This article is originally published at Insider Monkey.