Synaptics Stock Rises 14%

(RTTNews) - Synaptics Inc. (SYNA) is up 13.53 percent, gaining $14.36 to $120.51 on Friday. The move comes possibly after yesterday's news about how Synaptics and onsemi amended their merger agreement, with onsemi agreeing to acquire Synaptics for $123 per share in cash, valuing the transaction at approximately $5.7 billion.

Synaptics is currently trading at $120.51, up from the previous close of $106.15 after opening at $121.66 on the Nasdaq. The stock has traded between $119.91 and $121.98 during the session, with trading volume at 4.41 million shares versus average volume of 707,061 shares.

The revised agreement follows an unsolicited competing proposal received by Synaptics. The amended all-cash transaction is expected to be immediately accretive to onsemi's adjusted earnings per share and includes previously identified annual run-rate synergies of $200 million, along with additional opportunities from revenue synergies and insourcing. The deal is expected to close by mid-2027, subject to shareholder and regulatory approvals and other customary conditions.

Shares have traded between $58.28 and $149.11 over the past 52 weeks.