WallStreetZenWallStreetZen

Stock IdeasStrong Buy Stocks
Strong Buy Stocks from Top Wall Street Analysts
Latest stocks with a Strong Buy rating from the top performing 25% of analysts tracked by WallStreetZen

Analyst / FirmCompanyPriceRatingPrice TargetUpside/DownsideDate
Christopher Rolland
Susquehanna
Top 3%
98
Synaptics IncSYNA
$124.97Strong Buy$145.00+16.03%
4 days ago
Analyst Ranking
Top 3%
#96 out of 4174 analysts
Average Return
+20.96%
Win Rate
69%44 out of 64
Risk vs Reward
Poor
Good

Analyst Color

Rolland raised his price target on Synaptics Incorporated by 26.1% following the release of the company's Q2 2023 earnings report on 2023/02/02.

Results and guidance were "weaker than expected," the analyst said, "primarily because IoT performed below management's expectations."

The company is still in the "middle innings" of successfully executing a bona fide turnaround and is deserving of a multiple re-rating when growth returns. Rolland added.

Synaptics shares have gained 39.6% YTD against the S&P 500's 7.3% gain.

For Q2 2023, Synaptics reported:

  • EPS of $2.20, which missed the Zacks Consensus Estimate of $2.36 and, by 32.5%, Q2 2022's $3.26.
  • Revenue of $353.1M, which missed the Zacks Consensus Estimate by 3.49% and, by 16%, Q2 2022's $420.5M.
  • Gross margin of 59.8%.

For FY 2023, management guided:

  • Revenue of $310M to $340M.
  • Gross margin of 60% to 62%.
  • Operating Expenses of $96M to $102M.

President & CEO Michael Hurlston commented: “Given the macroeconomic environment, we are pleased with these results, particularly our ability to maintain margins.

"In terms of the product portfolio, we remain confident in our automotive, wireless, and video interface offerings. In each of these three areas, we showcased new products at CES, all of which increase our dollar per platform opportunity and should serve to both increase overall share and drive long-term growth for the company,”

CFO Dean Butler added, “Our customers are continuing to work down inventories and remain cautious with their near-term demand forecasts.

"As a result, we expect a modest sequential revenue decline in Q3.

"Synaptics continues to generate strong cash flows, have a best-in-class margin profile, and maintain a commitment to its capital allocation priorities.” 

Philippe Houchois
Jefferies
Top 19%
82
Tesla IncTSLA
$800.00Strong Buy$850.00+6.25%
a day ago

Upgrade to Premium to View More

Strong buys: Upgrade to Premium to view the rest of today's Strong Buy stocks from Wall Street's top analysts

Already have a premium account? Sign In
WallStreetZen does not provide financial advice and does not issue recommendations or offers to buy stock or sell any security.

Information is provided 'as-is' and solely for informational purposes and is not advice. WallStreetZen does not bear any responsibility for any losses or damage that may occur as a result of reliance on this data.