10 Most Oversold Semiconductor Stocks in 2024

8. Synaptics Inc. (NASDAQ:SYNA)

Share price return in 2024: -31%

Number of Hedge Fund Holders: 27

Synaptics Inc. (NASDAQ:SYNA) is a global developer and fabless supplier of premium mixed-signal semiconductor solutions that enable interaction with connected devices and data. The company provides connectivity, sensors, and AI-enhanced processor solutions to OEMs that design IoT products and devices for automobiles, enterprise workspace devices, and consumer devices. It serves markets including IoT, personal computers (PCs), enterprise and automotive sectors, and mobile devices. The company’s innovative solutions for fingerprint sensors, OLED displays, and touchscreens have been increasingly in demand as more industries, particularly automotive and mobile, adopt advanced interactive technologies.

In 2024, Synaptics Inc. (NASDAQ:SYNA) encountered several operational challenges, including a decline in demand and a reduction in customer inventory. Revenue for the nine months ending March 2024 declined by 37%, with decreases in revenue from its Enterprise and Automotive products and Core IoT product applications. The company’s share price consistently declined throughout the year, resulting in a 31% YTD loss. As the business stabilizes and works towards recovery, the share price remains down 3.6% in 2025. After the recently released in-line Q2 2025 results (FY ending June), a Mizuho analyst maintained his Buy recommendation with a price target of $90, down from $95 earlier. The analyst believes that the results indicate that trends are improving and the company is moving past its low point.