Synaptics (SYNA) NewsBite - Synaptics Jumps on Upgrade

Posted on Wednesday, July 23, 2008 12:45 PM

Synaptics Inc. (SYNA) opened at 45.67. So far today, the stock has hit a low of 44.54 and a high of 46.27. SYNA is now trading at 46.27, up 2.27 (4.97%). The stock hit its 52 week high of 61.72 in November and set its 52 week low of 22.03 in March. SYNA had a big fall during the first months of this year, but has been stronger since April. Synaptics shares have been taking a lift after an Oppenheimer analyst upgraded the stock to "Outperform" from "Perform." Technical indicators for the stock are bullish but deteriorating. If you’re looking for a hedged play on this stock, consider a September bull-put credit spread below the $35 range. SYNA stock could fall up to 24.4% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]