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Touch-interface technology firm Synaptics is poised to benefit from rising adoption of biometric user authentication systems, Cowen analyst Robert Stone said Tuesday. In a research report, Stone reiterated his outperform rating on Synaptics stock and raised his price target to 115 from 105. Synaptics is a top maker of fingerprint readers for personal computers and mobile devices. Synaptics stock, though, fell 1.3% to 95.19 on the stock market today. But Synaptics (SYNA) stock hit a record high of 97.57 on Friday and is up 38% this year. Cowen’s midyear 2015 information technology spending survey found that 90% of respondents plan to deploy biometric user authentication. Of the 95 respondents in its survey, 28% are already deploying biometric authentication, 41% plan to do so within one year, 14% in 12-24 months and 7% beyond 24 months, Stone said. Fewer than 10% of respondents have no current plans to deploy biometric readers, … Scalper1 News
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