Buy Synaptics, Inc. (SYNA) Dear Savio, Technology stocks have been beaten up in 2022, with the NASDAQ down about 12% year-to-date. The tech-heavy NASDAQ was also the first major index to fall into correction territory, as Wall Street feared rising interest rates would derail tech stocks. But here’s what most of Wall Street has been missing: Tech stocks are continuing to revolutionize the world around us, from 5G to artificial intelligence (AI), from electric vehicles (EVs) to internet of things (IoT). As a result, tech companies also have some of the strongest forecasted earnings and sales, as well as a long history of exceeding analysts’ expectations. So, in my opinion, the selloff in technology stocks this year has presented us with an incredible buying opportunity – and we’re adding another tech stock to the Accelerated Profits Buy List today. Synaptics, Inc. Synaptics, Inc. (SYNA) is primarily a semiconductor company – and there’s a strong likelihood that you utilize the company’s technology on a daily basis. In fact, there’s a good chance that you’re using Synaptics’ technology to read this Flash Alert right now. The reality is that Synaptics dominates the touchscreen and touchpad market for electronics devices like smartphones, tablets and PCs, as well as has a vast portfolio of human interface solutions aimed at creating a better user experience. Its solutions enable wireless connectivity, deliver ultra-high-resolution graphics, provide clear audio and voice processing, enable energy-efficient AI solutions, boost home entertainment and multimedia solutions, enable secure fingerprint identification, power smart cameras and so much more! Considering that Synaptics’ technology and solutions are vital to our day-to-day experiences, it’s no wonder that Synaptics partners with leading tech companies. The company collaborates with Google on its android devices, as well as its Chrome hardware and software; with Intel on its chip designs for biometrics, display and touch; with Microsoft on its Windows Input and Windows Hello; and with Qualcomm on its designs for mobile devices. Synaptics also partners with virtually all the top original equipment manufacturers (OEMs) and OLED and LCD display manufacturers. And thanks to strong demand for its solutions and its strategic partnerships, Synaptics has shipped more than five billion units – and it shows no signs of slowing down any time soon. During its second quarter in fiscal year 2022, Synaptics achieved record earnings of $132.8 million, or $3.26 per share, and revenue of $420.5 million. That represented 41.7% year-over-year earnings growth and 17.6% year-over-year revenue growth. Analysts were expecting earnings of $3.12 per share and revenue of $422.9 million. Thanks to a strong backlog and continuing demand, Synaptics expects third-quarter revenue between $450 million and $480 million, which compares to revenue of $325.8 million in the third quarter of 2021. Given the strong outlook, analysts have increased third-quarter earnings estimates by 34% in the past month. As you know, positive analyst revisions typically precede future earnings surprises. SYNA is a good buy below $251. Sincerely, | .png)
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