Synaptics (NASDAQ:SYNA) Trading 0.4% Higher

Shares of Synaptics Incorporated (NASDAQ:SYNA) shot up 0.4% during trading on Friday . The company traded as high as $89.53 and last traded at $87.82. 21,177 shares were traded during trading, a decline of 93% from the average session volume of 282,719 shares. The stock had previously closed at $87.49.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Wells Fargo & Company decreased their price target on shares of Synaptics from $115.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Friday, May 10th. TD Cowen lowered their target price on shares of Synaptics from $135.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Needham & Company LLC reduced their target price on shares of Synaptics from $125.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Finally, KeyCorp cut their price objective on shares of Synaptics from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Friday, May 10th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Synaptics has an average rating of “Moderate Buy” and a consensus target price of $117.67.

Synaptics Price Performance

The company’s 50-day simple moving average is $90.91 and its 200 day simple moving average is $96.43. The company has a debt-to-equity ratio of 0.78, a quick ratio of 4.78 and a current ratio of 5.32. The company has a market cap of $3.51 billion, a PE ratio of -32.41 and a beta of 1.47.

Synaptics (NASDAQ:SYNA) last issued its quarterly earnings results on Thursday, May 9th. The software maker reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.04. The company had revenue of $237.30 million for the quarter, compared to the consensus estimate of $235.17 million. Synaptics had a negative return on equity of 0.90% and a negative net margin of 11.30%. Synaptics’s revenue was down 27.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.14 EPS. On average, sell-side analysts predict that Synaptics Incorporated will post -0.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Synaptics

Several large investors have recently bought and sold shares of the business. Wellington Management Group LLP boosted its holdings in shares of Synaptics by 3.4% in the 4th quarter. Wellington Management Group LLP now owns 1,373,759 shares of the software maker’s stock valued at $156,718,000 after buying an additional 44,548 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Synaptics by 18.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,259,106 shares of the software maker’s stock valued at $111,053,000 after purchasing an additional 193,182 shares during the period. Victory Capital Management Inc. grew its stake in Synaptics by 1,255.2% during the 4th quarter. Victory Capital Management Inc. now owns 394,383 shares of the software maker’s stock worth $44,991,000 after buying an additional 365,282 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Synaptics by 34.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 390,251 shares of the software maker’s stock worth $44,520,000 after buying an additional 100,150 shares during the period. Finally, Norges Bank purchased a new stake in Synaptics in the fourth quarter valued at approximately $40,261,000. Hedge funds and other institutional investors own 99.43% of the company’s stock.

About Synaptics

Synaptics Incorporated develops, markets, and sells semiconductor products worldwide. The company offers AudioSmart for voice and audio processing; ConnectSmart for high-speed video/audio/data connectivity; DisplayLink for transmitting compressed video frames across low bandwidth connections; VideoSmart that enables set-top boxes, over-the-top, streaming devices, soundbars, surveillance cameras, and smart displays; and ImagingSmart solutions.