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Upgrade Alert for Synaptics (SYNA)

By David Diaz

Synaptics (NASDAQ:SYNA) was upgraded from Neutral to Buy at Mizuho today. The stock closed yesterday at $65.55 on volume of 733,000 shares, below average daily volume of 809,000.

Synaptics Incorporated develops custom-designed user interface solutions. The Company's solutions enable people to interact with a variety of mobile computing and communications devices. Synaptics offers a touch-sensitive pad that senses the position of a person's finger on its surface to provide screen navigation, cursor movement, and a platform of interactive input.

In the past 52 weeks, Synaptics share prices have been bracketed by a low of $47.09 and a high of $102.50 and closed yesterday at $65.55, 39% above that low price. The 200-day and 50-day moving averages have moved 0.44% lower and 1.21% lower over the past week, respectively.

Synaptics has overhead space with shares priced $65.55, or 34.7% below the average consensus analyst price target of $100.36. The stock should find initial resistance at its 200-day moving average (MA) of $78.51 and further resistance at its 50-day MA of $80.38.

SmarTrend recommended that subscribers consider buying shares of Synaptics on August 5th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $56.07. Since that recommendation, shares of Synaptics have risen 17.3%. We continue to monitor SYNA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades synaptics

Ticker(s): SYNA