Tech M&A deals: Nelnet, Entab Infotech, Onsemi, Synaptics, Cable One

Argus lowered its price target for Synaptics Inc (SYNA) to $123.00. The company produces semiconductor solutions for mobile, PC, and IoT markets.

onsemi (ON) plans to release Q3FY26 earnings on November 2, 2026. The company amended its merger agreement with Synaptics (SYNA), reducing the acquisition value to $5.7B ($123 per share in cash). The revised deal is expected to be immediately accretive to onsemi's non-GAAP EPS and includes additional synergies. The transaction is expected to close by mid-2027, subject to regulatory approvals and Synaptics shareholder approval.

StoneX initiated coverage on ON Semiconductor (NASDAQ:ON) with a Buy rating and $110 price target, citing chip cycle strength and potential margin expansion. The target assumes 16x fiscal 2028 EPS, including Synaptics acquisition benefits. ON Semiconductor is acquiring Synaptics for $123 per share, valuing the deal at $5.7B. Analysts have mixed views, with price targets ranging from $75 to $150.

Cable One (CABO) shares fell Wednesday after a temporary restraining order blocked its $480M acquisition of a 55% stake in Mega Broadband, potentially disrupting the deal and strategic plans.

Cirrus Logic has abandoned plans to acquire Synaptics. The company recently acquired INVENTVM, a fabless semiconductor firm. Cirrus Logic's stock has seen a 5-day increase of 1.56% but a year-to-date decline of 11.01%.

Cirrus Logic (CRUS) confirmed it made takeover offers for Synaptics (SYNA) but is no longer pursuing a transaction. This follows Onsemi's (ON) $5.7B all-cash deal for Synaptics at $123 per share.