ON Semi will acquire Synaptics in an all-stock transaction, representing a total enterprise value of approximately $7 billion.The companies stated the combination would expand ON Semi’s capabilities across AI infrastructure and extend into edge-based applications.Synaptics shares jumped 4.5% to $131.17 in pre-market trading.These analysts made changes to their price targets on Synaptics following earnings announcement.
Susquehanna analyst Christopher Rolland downgraded the stock from Positive to Neutral and raised the price target from $125 to $140.
Rosenblatt analyst Kevin Cassidy downgraded the stock from Buy to Neutral and lowered the price target from $180 to $160.
Needham analyst Neil Young downgraded the stock from Buy to Hold.
