Synaptics (NASDAQ:SYNA) Shares Up 7.6% – What’s Next?

Synaptics Incorporated (NASDAQ:SYNA)’s stock price rose 7.6% during trading on Wednesday . The stock traded as high as $87.30 and last traded at $86.63. Approximately 120,142 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 491,080 shares. The stock had previously closed at $80.53.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SYNA shares. Rosenblatt Securities decreased their target price on Synaptics from $130.00 to $92.00 and set a “buy” rating for the company in a research report on Friday, November 8th. KeyCorp cut Synaptics from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Susquehanna raised their price objective on shares of Synaptics from $95.00 to $105.00 and gave the company a “positive” rating in a research report on Wednesday, January 22nd. Needham & Company LLC reissued a “buy” rating and issued a $90.00 target price on shares of Synaptics in a research report on Wednesday. Finally, TD Cowen raised their price target on shares of Synaptics from $90.00 to $100.00 and gave the company a “buy” rating in a report on Friday, November 8th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Synaptics currently has an average rating of “Moderate Buy” and a consensus price target of $98.44.

Synaptics Price Performance

The company has a debt-to-equity ratio of 0.66, a current ratio of 4.49 and a quick ratio of 4.02. The stock’s fifty day simple moving average is $79.37 and its 200-day simple moving average is $77.72. The company has a market capitalization of $3.52 billion, a P/E ratio of 22.30 and a beta of 1.44.

Insider Buying and Selling at Synaptics

In other Synaptics news, insider Vikram Gupta sold 411 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $81.63, for a total value of $33,549.93. Following the sale, the insider now directly owns 40,795 shares in the company, valued at $3,330,095.85. This trade represents a 1.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Synaptics

Several large investors have recently added to or reduced their stakes in SYNA. GAMMA Investing LLC increased its position in shares of Synaptics by 261.8% during the third quarter. GAMMA Investing LLC now owns 369 shares of the software maker’s stock valued at $29,000 after purchasing an additional 267 shares during the period. Quarry LP bought a new stake in Synaptics in the 3rd quarter valued at $31,000. CWM LLC raised its stake in shares of Synaptics by 58.1% in the 3rd quarter. CWM LLC now owns 1,151 shares of the software maker’s stock valued at $89,000 after buying an additional 423 shares in the last quarter. Van ECK Associates Corp acquired a new stake in shares of Synaptics during the 3rd quarter valued at about $132,000. Finally, KBC Group NV increased its stake in Synaptics by 87.4% in the fourth quarter. KBC Group NV now owns 1,795 shares of the software maker’s stock valued at $137,000 after acquiring an additional 837 shares during the period. Institutional investors and hedge funds own 99.43% of the company’s stock.

Synaptics Company Profile

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.