Synaptics Inc. (SYNA): Today's Featured Technology Laggard

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model

Synaptics ( SYNA) pushed the Technology sector lower today making it today's featured Technology laggard. The sector as a whole closed the day up 0.8%. By the end of trading, Synaptics fell $0.44 (-1.2%) to $37.44 on average volume. Throughout the day, 899,037 shares of Synaptics exchanged hands as compared to its average daily volume of 908,700 shares. The stock ranged in price between $37.01-$38.16 after having opened the day at $38.01 as compared to the previous trading day's close of $37.88. Other companies within the Technology sector that declined today were: Pixelworks ( PXLW), down 13.2%, eOn Communications Corporation ( EONC), down 10.6%, Aetrium Incorporated ( ATRM), down 10.5% and Sky-mobi ( MOBI), down 9.8%.
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Synaptics Incorporated develops and supplies custom-designed human interface solutions that enable people to interact with various mobile computing, communications, entertainment, and other electronic devices in China, Japan, Taiwan, Korea, and the United States. Synaptics has a market cap of $1.2 billion and is part of the computer hardware industry. The company has a P/E ratio of 19.8, above the S&P 500 P/E ratio of 17.7. Shares are up 27.6% year to date as of the close of trading on Friday. Currently there are 7 analysts that rate Synaptics a buy, no analysts rate it a sell, and 4 rate it a hold.

TheStreet Ratings rates Synaptics as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins, good cash flow from operations and compelling growth in net income. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.

On the positive front, Daqo New Energy ( DQ), down 17.4%, Internet Gold Golden Lines ( IGLD), down 15.4%, iPass ( IPAS), down 13.3% and LiveDeal ( LIVE), down 13.3% , were all gainers within the technology sector with Salesforce.com ( CRM) being today's featured technology sector leader.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the technology sector could consider Technology Select Sector SPDR ( XLK) while those bearish on the technology sector could consider ProShares Ultra Short Technology ( REW).

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