Synaptics (NASDAQ:SYNA) Given “Buy” Rating at Rosenblatt Securities

Synaptics (NASDAQ:SYNA)‘s stock had its “buy” rating reissued by analysts at Rosenblatt Securities in a note issued to investors on Thursday,Benzinga reports. They currently have a $105.00 price objective on the software maker’s stock. Rosenblatt Securities’ price target suggests a potential upside of 54.34% from the stock’s previous close.

A number of other research analysts also recently issued reports on the stock. TD Cowen upped their target price on shares of Synaptics from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Craig Hallum raised shares of Synaptics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 29th. Susquehanna upped their target price on shares of Synaptics from $95.00 to $105.00 and gave the company a “positive” rating in a research note on Wednesday, January 22nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $90.00 price target on shares of Synaptics in a research report on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $96.88.

Synaptics Stock Performance

Synaptics stock opened at $68.03 on Thursday. The company has a current ratio of 3.88, a quick ratio of 3.36 and a debt-to-equity ratio of 0.60. Synaptics has a 1 year low of $67.16 and a 1 year high of $109.00. The company has a market cap of $2.67 billion, a PE ratio of 16.08 and a beta of 1.45. The company’s 50-day moving average is $77.45 and its two-hundred day moving average is $76.34.

Insiders Place Their Bets

In other Synaptics news, insider Ken Rizvi acquired 3,600 shares of the stock in a transaction dated Monday, February 10th. The shares were bought at an average cost of $69.15 per share, for a total transaction of $248,940.00. Following the completion of the acquisition, the insider now directly owns 27,630 shares of the company’s stock, valued at approximately $1,910,614.50. This trade represents a 14.98 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $33,549.93. Following the completion of the transaction, the insider now directly owns 40,795 shares of the company’s stock, valued at $3,330,095.85. This represents a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Synaptics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Planning boosted its position in Synaptics by 113.4% during the third quarter. Creative Planning now owns 8,942 shares of the software maker’s stock worth $694,000 after purchasing an additional 4,752 shares during the period. State of Alaska Department of Revenue raised its stake in Synaptics by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 4,547 shares of the software maker’s stock valued at $352,000 after purchasing an additional 310 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. raised its stake in Synaptics by 8.0% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 192,003 shares of the software maker’s stock valued at $14,896,000 after purchasing an additional 14,181 shares in the last quarter. Van ECK Associates Corp acquired a new position in Synaptics in the third quarter valued at about $132,000. Finally, Emerald Advisers LLC raised its stake in Synaptics by 2.5% in the third quarter. Emerald Advisers LLC now owns 207,287 shares of the software maker’s stock valued at $16,081,000 after purchasing an additional 5,004 shares in the last quarter. 99.43% of the stock is owned by institutional investors.

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.