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JP Morgan's Peter Peng raised their price target on Synaptics (NASDAQ: SYNA) by 17.6% from $85 to $100 on 2026/02/07. The analyst maintained their Strong Buy rating on the stock.

Synaptics reported its Q2 2026 earnings.

Raising their estimates and price target, Peng said the quarter's "good" results followed from revenue upside in the company's Enterprise business.

Earnings Report

For Q2 2026, Synaptics reported:

• EPS of $1.21, which beat the Zacks Consensus Estimate of $1.15 and Q2 2025's $0.92.
• Revenue of $302.5M, which beat the Zacks Consensus Estimate by 0.89% and Q2 2025's $267.2M.

For Q3 2026, management guided:

• EPS of $0.85 to $1.15.
• Revenue of $280M to $200M.

President & CEO Rahul Patel commented: “We delivered another strong quarter, with Core IoT product sales increasing 53% year-over-year, driving total revenue up 13% year-over-year and supporting GAAP and non-GAAP operating margin expansion.

"The accelerating shift toward physical and edge AI aligns well with our differentiated portfolio of processors, wireless connectivity, and sensing technologies.

"These trends are creating opportunities to expand into new markets in areas such as robotics, where we are sampling our solutions in humanoids.

"We believe we are well-positioned to capture these opportunities and drive long-term, sustainable growth."