SYNA...Good timing on the question cliffvb...I was holding an all time high position in SYNA, and sold approx 7% (@ approx $59.50) today only because I am so overweight and want some available cash for other buying opportunities as/if they become available.
But IMO, SYNA is a rock solid long term hold, especially after seeing the terms of the convertible note offering. Also, the fact Synaptics repurchased 1.7M shares of their own shares @ $55.11 tells me we now (hopefully) have a floor.
These guys are (will be) hitting on all cylinders in huge areas of growth now that they have added voice w/ the Conexant/Marvell acquisitions. I know the acquisitions aren't final yet, but I'm 99.999% sure that the acquisitions will close by next Q.
Think about it, if SYNA's share price triples in the next 5 years (which I think is VERY doable), the shares they just repurchased will pay for the financing (offering) charges. How strong is that? As of today's close, Synaptics has a gain of over $7.5M on the shares they repurchased 2 DAYS AGO!!!
I know the market can bounce around a lot, so we'll see what happens from here. But SYNA has 5 years to build this into a monster!!!
The information posted by 2morrowsGains is opinion only and should not to be taken as investment advice.
