This Tech Stock Tripled in 2021, and It Is on Sale Right Now
Synaptics (NASDAQ: SYNA) was a top performer on the stock market in 2021, with share prices of the chipmaker tripling during the year thanks to outstanding growth in its Internet of Things (IoT) business. But 2022 has been a forgettable year for investors so far with the stock price down 20% so far this year.
But this price drop may present a golden opportunity for investors looking to buy a high-growth company at a relatively cheap valuation, especially considering that Synaptics recently delivered outstanding earnings that seem to have boosted investor confidence.
Let's look at the reasons why Synaptics stock has started regaining its mojo.
Source Fool.com
