Synaptics (NASDAQ:SYNA) Stock Rating Upgraded by Craig Hallum

Synaptics (NASDAQ:SYNA) was upgraded by investment analysts at Craig Hallum from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

A number of other equities analysts also recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 target price on shares of Synaptics in a report on Wednesday. TD Cowen boosted their price objective on shares of Synaptics from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Rosenblatt Securities lowered their target price on shares of Synaptics from $130.00 to $92.00 and set a “buy” rating for the company in a research note on Friday, November 8th. KeyCorp downgraded Synaptics from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Finally, Susquehanna raised their price objective on Synaptics from $95.00 to $105.00 and gave the stock a “positive” rating in a research report on Wednesday, January 22nd. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.44.

Synaptics Trading Down 1.9 %

Shares of NASDAQ:SYNA opened at $86.16 on Wednesday. The company has a market capitalization of $3.45 billion, a PE ratio of 21.81 and a beta of 1.44. The company has a current ratio of 4.49, a quick ratio of 4.02 and a debt-to-equity ratio of 0.66. Synaptics has a 12-month low of $67.83 and a 12-month high of $115.85. The business’s fifty day simple moving average is $79.90 and its 200-day simple moving average is $77.85.

Insider Activity at Synaptics

In other news, insider Vikram Gupta sold 411 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 40,795 shares of the company’s stock, valued at $3,330,095.85. The trade was a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Synaptics

A number of hedge funds have recently made changes to their positions in the company. Louisiana State Employees Retirement System increased its position in shares of Synaptics by 1.8% during the fourth quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the software maker’s stock worth $847,000 after purchasing an additional 200 shares in the last quarter. Diversified Trust Co boosted its stake in Synaptics by 6.7% during the 3rd quarter. Diversified Trust Co now owns 3,997 shares of the software maker’s stock worth $310,000 after purchasing an additional 251 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Synaptics by 261.8% during the third quarter. GAMMA Investing LLC now owns 369 shares of the software maker’s stock worth $29,000 after buying an additional 267 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of 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 buying an additional 310 shares during the last quarter. Finally, Quarry LP purchased a new position in shares of Synaptics in the third quarter worth about $31,000. Institutional investors and hedge funds 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.