The recent sell-off in tech stocks is a blessing for investors looking to add fast-growing companies to their portfolios at attractive valuations. Several high-growth tech companies are big bargains right now, including one that could help you take advantage of the hot 5G trend. Synaptics (NASDAQ: SYNA) is in a solid position to take advantage of the proliferation of 5G networks and devices, as well as sitting on a few other growth drivers. What's more, the stock is now trading at cheaper multiples after pulling back since the end of April. Let's look at the reasons why you should consider buying this 5G stock now. SYNA data by YCharts Synaptics' mobile business can step on the gas once again Synaptics stock has been flying high in 2021 despite market volatility, mainly due to the terrific growth of its Internet of Things (IoT) business, which has stepped on the gas in recent quarters. The mobile business's contribution toward Synaptics' top line has waned of late, dropping to just 25% of total revenue in fiscal Q3 from 54% in the prior-year period. Synaptics' mobile revenue dropped to just $81 million last quarter from $177 million in the year-ago quarter, a sharp decline of 54%. But investors shouldn't forget that the sale of the mobile LCD (liquid-crystal display) TDDI (touch/display integration) business -- completed in April last year -- also impacted the segment's revenue. That business was generating around $65 million in quarterly revenue for Synaptics. Image source: Getty Images. Investors should be looking forward as Synaptics' mobile business is set for long-term growth. The company has scored design wins to supply its OLED (organic light-emitting diode) touch controllers to several smartphone OEMs (original equipment manufacturers), including to Apple for the iPhone 12. Apple is one of Synaptics' top mobile customers, and that's a good thing as the iPhone maker is winning big in the 5G smartphone market. Apple shipped 40.4 million units of the all-OLED, 5G-enabled iPhone 12 lineup in the first quarter of 2021, accounting for 30% of overall shipments. Apple can sustain its impressive sales momentum as millions of users are reportedly waiting to upgrade to its new 5G phones, triggering a multiyear upgrade cycle that would be a boon for Synaptics. Apple, however, is only one of the many catalysts for Synaptics' mobile business. The chipmaker recently pointed out that its second-generation OLED touch controllers are already in volume production, extending Synaptics' technology lead over rival offerings. As a result, they are finding traction at established smartphone OEMs, as CEO Michael Hurlston pointed out on the latest earnings call. Those technical advantages have led to meaningful diversification for our mobile products, including our second win with a large Korean handset OEM for an upcoming midrange phone. In addition, we continue to win the significant majority of the new flagship-class designs for OLED touch with Chinese handset OEMs. Our two wins with the Korean OEM will begin shipping this quarter while the additional wins with the Chinese OEMs will ramp throughout this year and into the next calendar year. These design wins bode well for Synaptics, as 5G networks are driving demand for OLED-equipped smartphone displays. The faster wireless network will allow users to enjoy a broader range of immersive content such as cloud-enabled gaming and video. The demand for flexible OLED displays is expected to grow at an annual rate of almost 40% through 2026, driven mainly by the smartphone market, according to Mordor Intelligence. Things are about to get better Synaptics' mobile business is expected to generate $78 million in revenue this quarter, according to the midpoint of the company's guidance range, down nearly 35% from the year-ago period. So, the year-over-year decline in mobile revenue is expected to slow substantially this quarter. The business should start stepping on the gas once the new smartphone design wins go into production, and the impact of the now-divested LCD business goes away after this quarter. "We're sort of now at the bottom of our mobile revenue curve...from here, we will build," CEO Michael Hurlston said in the company's recent conference call with analysts. The improved performance of the mobile business and catalysts in the IoT and the PC (personal computer) businesses should ensure consistent top and bottom-line growth at Synaptics in the coming years. SYNA Revenue Estimates for Current Fiscal Year data by YCharts Finally, Synaptics is trading at attractive valuation multiples. The stock's trailing price-to-earnings ratio of 29 is well below its five-year average multiple of 95. A forward earnings multiple of just 13 indicates substantial expected earnings growth, making Synaptics a top growth stock to buy right now. 10 stocks we like better than SynapticsWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Synaptics wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of May 11, 2021 Harsh Chauhan has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Apple. The Motley Fool recommends Synaptics and recommends the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple. The Motley Fool has a disclosure policy.Source