Synaptics Incorporated: Barclays raises target price to $135 from $110

Barclays has revised its price target for Synaptics Incorporated (NASDAQ:SYNA), raising it to $135 per share from $110, while maintaining a "Hold" rating for the stock. The adjustment reflects the firm's updated assessment of the company's financial outlook and market positioning. Synaptics recently reported third-quarter results, with revenues of $267 million in line with expectations, but statutory losses widened to $0.56 per share. Analysts now forecast a continued challenging environment, with a projected statutory loss of $2.49 per share in 2026, a significant shift from earlier expectations of a profit.

Despite the downward revision in earnings forecasts, the consensus revenue estimate for 2026 remains at $1.17 billion, representing a 13% year-over-year increase. The updated price target from Barclays comes as the broader analyst community has also adjusted its outlook, with the average price target falling to $87.71 per share, reflecting a range from $65 to $100. The divergence in analyst opinions highlights ongoing uncertainty about the company’s near-term profitability and long-term growth potential. While Synaptics is expected to outperform its historical revenue decline trend, it still lags behind the projected 16% annual growth rate for the broader industry. Investors are advised to monitor upcoming earnings reports and industry developments for further clarity on the company’s trajectory.