11 Most Undervalued Semiconductor Stocks to Buy According to Analysts

9. Synaptics Incorporated (NASDAQ:SYNA)

Forward P/E: ~13.9x

Average Upside Potential: ~32.3%

Number of Hedge Fund Holders: 27

Synaptics Incorporated (NASDAQ:SYNA) is one of the Most Undervalued Semiconductor Stocks to Buy According to Analysts. On May 9, TD Cowen reduced the company’s price objective to $80 from $100, while keeping a “Buy” rating, as reported by The Fly. The firm noted that its results were slightly above expectations thanks to the improving IoT revenues. In Q3 2025, Synaptics Incorporated (NASDAQ:SYNA) posted net revenues of $266.6 million.

Furthermore, TD Cowen believes that Synaptics Incorporated (NASDAQ:SYNA) didn’t see any signs of deteriorating consumer demand as backlog and order linearity remained healthy, with the trend potentially extending into the quarter ended September. That being said, the risk remains about the potential demand softness, added the firm. Synaptics Incorporated (NASDAQ:SYNA)’s strategic initiatives in the IoT market have been gaining traction.

During Q3 2025, Synaptics Incorporated (NASDAQ:SYNA) rolled out numerous new products, such as Wi-Fi 7 solutions, broad markets devices, and next-generation Touch controllers, strengthening its portfolio and positioning it for long-term growth. Investment management company First Pacific Advisors released its Q4 2024 investor letter. Here is what the fund said:

“Synaptics Incorporated (NASDAQ:SYNA) designs and sells a collection of chip designs and technologies around wireless networking, data processing, and video/audio compression. The company is also the leader in chips that facilitate touchscreens in consumer devices and cars. After losing its contract for the iPhone display driver in 2018, SYNA has been re-orienting its business toward internet of things (IoT) – allowing edge and peripheral devices to quickly and efficiently process and send data. SYNA has concurrently been hit by the large cyclical slowdown and de-stocking in the semi-conductor industry that caused June 2024’s fiscal year revenue to fall 29% while EPS fell 72%. We are cautiously optimistic regarding Synaptics’ technology and a cyclical rebound and have continued to hold our shares.”