Synaptics climbs on Google AI partnership

Synaptics Incorporated

02/01/2025 16:15

** Shares of Synaptics  SYNA.O  up 6.1% at $80.99 on Thurs after
semiconductor firm announces artificial intelligence partnership
with Alphabet's  GOOGL.O  Google
    ** SYNA shares climb as much as 9.5% on the session to
$83.60, a three-week high
** San Jose, California-based co said early Thurs it is
collaborating with Google on Edge AI
    ** Collaboration will integrate Google's machine learning
core on SYNA's Astra hardware with open-source software and
tools, per the statement
    ** Of 11 analysts covering SYNA, recommendation breakdown is
6 "buy" and 5 "hold" ratings with $93.50 median PT, per LSEG
data
    ** Stock lost 33% of its value in 2024. That compares to
~14% drop in S&P 400 Semiconductors and Semiconductor Equipment
index  .SPMDCSE  last year

(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@tr.com 1-646-279-6380))