Why Synapctics (SYNA) Stock Is Up Today

NEW YORK (TheStreet) -- Synaptics (SYN) was gaining 5.8% to $67.72 Friday after beating analysts' estimates for earnings and revenue in its fiscal third quarter, and guiding above analysts' estimates for the fourth quarter.

For its fiscal third quarter Synaptics posted earnings of 63 cents a shares, beating analysts' estimates of 57 cents a share by 6 cents. Revenue grew 25.2% from the year-ago quarter to $204.3 million. Analysts surveyed by Thomson Reuters expected revenue of $192.03 million for the quarter.

Looking to the fiscal fourth quarter Synaptics expects revenue of between $275 million and $295 million, well above analysts' estimates of $231.3 million.

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TheStreet Ratings team rates SYNAPTICS INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

"We rate SYNAPTICS INC (SYNA) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, reasonable valuation levels and solid stock price performance. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."

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