Synaptics, Incorporated (NASDAQ: SYNA) is trading slightly in the green this morning after the company named Michael Hurlston as its CEO. However, due to Hurlston’s track record, there’s a very strong argument brewing across social communities that a big move is coming. So, these gains are likely just the beginning. Here’s what’s happening:
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SYNA Stock Could Soar With Hurlston At The Helm
As mentioned above, Synaptics is making a move upward this morning after the company named Michael Hurlston as its new CEO, filling the void left by Richard Bergman. Bergman quickly resigned after painful earnings results were released in March.
Hurlston has a strong record, leading some of the world’s top tech companies. In fact, his most recent position was CEO at Finsar Corporation (NASDAQ: FNSR). He has also held leadership roles at Broadcom and several others.
In a statement, Nelson Chan, Chairman at SYNA, had the following to offer:
We selected Michael because of his strong track record of growing large businesses to achieve consistent profitable growth and market penetration. He also brings extensive strategy and technology experience in our investment focus areas. We believe that Michael will be a great cultural fit for the company and look forward to his leadership in driving the transformation and next wave of growth for Synaptics.
However, his experience alone isn’t what SYNA investors are looking for. It’s what he did with FNSR that’s got investors’ eyes peeled.
Hurlston Has The Potential To Bring Synaptics To A Deal
Most recently, Michael Hurlston led FNSR to a high-value acquisition, and he could do the same for SYNA. At the moment, Finsar is in the process of being taken over for more than $3 billion, and the deal was led by Mr. Hurlston.
It’s not just his work with SYNA. Hurlston has always had an acquisition frame of mind, from both the buyer and seller side. In fact, he’s talked about dealing with competition through acquisitions, which is obviously a primary drive in his thought process.
While there’s no guarantee that Hurlston plans to push for the sale of the company in a market when acquisitions of competition are a top priority among big tech players, there’s a good chance that the thought of a potential acquisition is already on his mind.
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