Synaptics (SYNA) shares are coming under modest selling pressure after Brigantine Advisors analyst Darice Liu downgraded the shares to Hold from Buy on a valuation basis.
“This is not a call on fundamentals, as our position remains unchanged,” Liu writes. “We continue to believe that touch momentum is expanding and that Synaptics is well-positioned to benefit from it. From a share perspective, though, we believe that investors should take this opportunity to take some profit off the table and for new investors to wait for a more favorable entry point.”
SYNA is down $1, or 3%, to $32.35.
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