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SYNA a strong buy or a Jefferies downgrade?

|Includes: Synaptics Incorporated (SYNA)

NEW YORK (NYSE:AP) - Shares of Synaptics Inc. took a hit Tuesday after a Jefferies analyst downgraded the maker of touchscreen technology for computers and smartphones, citing increasing competition in handsets and a shift to lower-priced products in the PC market.

Shares fell $2.29, or 9.8 percent, to $21.15 on this news. In the past 52 weeks, the stock has traded between $13.85 and $40.94.  Synaptics was previously listed as a hold and has now been downgraded but looks like a solid strong buy at $20.00 with sales at 473 million - income 54 million -  sales growth 31% income growth at 396%  and debt/ equity ratio .29

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This stock has dropped considerably since 9/24/09 when it was trading at $26.81 and listed as a buy.  SYNA looks like a great deal @$20 and a definate buy for me at $19. 

Frost & Sullivan stated that, "since the introduction of the Internet as a building automation tool, no other technology has had as profound an impact as wireless technology. Synapse is well positioned to evolve with current and potentially nascent wireless and TCP/IP standards, spearheading the efforts toward acceptance and adoption of wireless and open protocols."