Synaptics (SYNA), which is one of my favorite Quantum Growth stocks, broke out to a new 52-week high in this morning’s trading. The shares have been as high as $40.94 today. The stock is up over 30% since I first recommended it two months ago.
The company is a leading designer of “touch” technologies that people use to interact with electronic gadgets, like smart cell phones and handheld computers. The company’s best known product is the TouchPad, which is usually located below the space bar on laptop keyboards. TouchPads allow users to move the cursor on the laptop screen without having to plug in a mouse. Synaptics’ other major success is its development of click-wheel technology that allowed users to scroll through the early versions of Apple‘s (AAPL) iPods.
As the preferred supplier to some of the hottest electronic toys today–like the Blackberry Storm–Synaptics is well-positioned for long-term growth. Thanks to its dominance in key markets and ability to create interfaces that customers simply love, the company will continue to generate solid profits.
The next earnings report is due in about six weeks. I expect to see more outstanding results.