Report
Abhinav Davuluri

Dialog Semiconductor and Best Idea Synaptics in Talks to Combine; Synaptics Shares Still Undervalued

On June 8, reports surfaced that Dialog Semiconductor was discussing a potential deal with Synaptics. Bloomberg initially reported the exploratory talks, while CNBC later augmented the story by saying Synaptics rejected a $59 per share all cash offer back in March. This implies a 40% premium to Synaptics' opening price on June 8. While both firms supply chips to smartphone vendors (Dialog supplies power management chips for Apple’s iPhone and Synaptics provides touch, display, and fingerprint so...
Underlying
SYNAPTICS INCORPORATED

Synaptics is a developer and supplier of custom-designed human interface semiconductor product solutions that enable people to interact with a variety of mobile computing, communications, entertainment, and other electronic devices. The company targets the markets for smartphones, tablets, personal computer, products, Internet of Things, products and other select electronic devices, including devices in automobiles. The company's family of products includes: ClearPad?, ClearView?, TouchView?, Natural ID?, TouchPad?, SecurePad?, ClickPad?, ForcePad?, AudioSmart?, VideoSmart?, ImagingSmart?, and other product solutions.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Abhinav Davuluri

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