Synaptics higher as Pac Crest reports of Galaxy S5 design win

|About: Synaptics Incorporated (SYNA)|By:, SA News Editor

Pac Crest thinks Synaptics (SYNA +3.3%), already the touch controller supplier for Samsung's Galaxy S4, has won the touch controller slot for the Galaxy S5, which it expects will launch in early Q2.

The firm asserts Synaptics' Hover tech, which enables touch-free gestures on the S4 and Samsungs' Galaxy Note hardware, allowed the company to beat out rivals Atmel (ATML -0.2%), Cypress (CY -1.8%), and South Korea's Melfas, who it thinks can't offer similar functionality. The S4 and Note design wins have contributed to the triple-digit mobile sales growth Synaptics has seen in recent quarters.

Shares recently sold off due to soft Dec. quarter guidance; at the time, CEO Rick Bergman stated new mobile product launches due in early 2014 would give his company a lift.