Synaptics is exploding higher following the announcement late yesterday that the company has entered into a revised merger agreement with onsemi. Under the new terms, onsemi will acquire Synaptics for $123 per share in an all-cash deal valued at approximately $5.7 billion, replacing a previous all-stock agreement. While the news has driven significant investor interest, the stock is also seeing a modest reaction to a subsequent analyst downgrade from Wells Fargo to Equal-weight, which occurred during market hours today.