Synaptics Inc.  (SYNA) Trade Now »     Rate SYNA  -  Discuss SYNA  -  Add to Watch List        

Synaptics (SYNA) posted better than expected results for its fiscal Q4 ended June 30.

The company, which makes touch pads used in laptops and mobile devices, reported revenue of $96.9 million and non-GAAP profits of 46 cents a share, beating the Street at $92.8 million and 42 cents.

For Q1, the company sees revenue of $108 million to $114 million, ahead of the Street at $103.4 million.

Oppenheimer’s Yair Reiner has changed his mind on Synaptics (SYNA) .

Last month, Reinter cut his rating on the maker of touchscreens used in mobile phones and other devices, on the theory that the aggressive $199 price tag on the new Apple (AAPL) iPhone 3G “will limit the market opportunity for Synaptics’ stable of potential customers.”

Synaptics (SYNA) shares are stumbling this morning after Oppenheimer’s Yair Reiner cut his rating on the stock to Perform from Outpeform.

Reiner’s basic take is that the market had hoped Synaptics would emerge as a key supplier of touch-screens to makers of devices designed to compete with the Apple (AAPL) iPhone - but that the aggressive $199 price tag on the new iPhone 3G “will limit the market opportunity for Synaptics’ stable of potential customers.”

In short, he thinks that “the iPhone-killer business will be a tough one.”