10 Cheap Semiconductor Stocks to Buy Now

6. Synaptics Incorporated (NASDAQ:SYNA)

Number of Hedge Fund Holders: 27

P/E: 12.77

Synaptics Incorporated (NASDAQ:SYNA), a leader in human interface semiconductor solutions, continues to drive innovation across mobile computing, entertainment, and communications markets. Headquartered in San Jose, CA, the company recently launched the S3930 series touch controllers, targeting the fast-growing foldable OLED device market (42% CAGR). This launch highlights Synaptics’ technical edge, leveraging patented multi-frequency-region parallel sensing (MFRPS) technology for superior performance. It is among the cheap semiconductor stocks to buy now.

Despite innovation momentum, Synaptics Incorporated (NASDAQ:SYNA) faces near-term headwinds. Mizuho lowered its price target from $90 to $80, citing softening automotive trends and tariff risks. However, declining inventories and improved outlooks hint at a stronger second half of 2025.

Strategic partnerships are another positive. Synaptics Incorporated (NASDAQ:SYNA) announced collaborations with VBox Communications for ATSC 3.0 digital broadcasting and with Google for Edge AI in IoT, integrating Google’s ML core with Synaptics Astra hardware.

Financially, Synaptics Incorporated (NASDAQ:SYNA) reported FY revenue of $959.4 million and Q2 revenue of $267.2 million. While annual revenue dropped 29.2%, quarterly growth rebounded 3.69%. Net income surged 70.65% year-over-year, driven by operating efficiencies.

Analyst sentiment remains bullish: 70% of ratings are Buy/Strong Buy, with a median price target of $95, implying a 67% upside from current levels.

Synaptics Incorporated (NASDAQ:SYNA) remains a compelling play on next-gen device innovation and IoT growth.