Synaptics Incorporated (NASDAQ:SYNA) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Synaptics Incorporated (NASDAQ:SYNA) have been assigned an average rating of “Moderate Buy” from the nine ratings firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $105.44.

A number of equities analysts have issued reports on the company. Needham & Company LLC decreased their price target on Synaptics from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, August 9th. KeyCorp decreased their target price on Synaptics from $115.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Craig Hallum dropped their price target on shares of Synaptics from $105.00 to $80.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. JPMorgan Chase & Co. reduced their price objective on shares of Synaptics from $120.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Finally, TD Cowen dropped their target price on shares of Synaptics from $115.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, August 9th.

Insider Activity

In related news, insider Vikram Gupta sold 1,008 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $80.00, for a total value of $80,640.00. Following the completion of the transaction, the insider now owns 45,789 shares of the company’s stock, valued at approximately $3,663,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is owned by company insiders.

Institutional Trading of Synaptics

Hedge funds and other institutional investors have recently modified their holdings of the business. Quantbot Technologies LP purchased a new stake in Synaptics in the 1st quarter worth about $586,000. UBS Group AG lifted its position in shares of Synaptics by 26.8% in the fourth quarter. UBS Group AG now owns 105,457 shares of the software maker’s stock worth $12,031,000 after purchasing an additional 22,308 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Synaptics by 27.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 28,815 shares of the software maker’s stock worth $2,807,000 after purchasing an additional 6,276 shares during the period. Point72 Asset Management L.P. grew its position in Synaptics by 15,571.4% during the second quarter. Point72 Asset Management L.P. now owns 814,912 shares of the software maker’s stock valued at $71,875,000 after purchasing an additional 809,712 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust increased its stake in Synaptics by 88.7% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 160,993 shares of the software maker’s stock valued at $14,200,000 after buying an additional 75,680 shares during the period. Institutional investors and hedge funds own 99.43% of the company’s stock.

Synaptics Stock Down 0.2 %

Shares of Synaptics stock opened at $78.48 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.19 and a quick ratio of 3.78. Synaptics has a 1-year low of $67.83 and a 1-year high of $121.37. The business’s fifty day moving average price is $77.54 and its two-hundred day moving average price is $86.54. The company has a market capitalization of $3.13 billion, a P/E ratio of -28.96 and a beta of 1.47.

Synaptics (NASDAQ:SYNA) last announced its earnings results on Thursday, August 8th. The software maker reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.09. Synaptics had a net margin of 13.09% and a negative return on equity of 0.54%. The firm had revenue of $247.40 million during the quarter, compared to analyst estimates of $245.17 million. During the same quarter in the prior year, the firm posted $0.01 EPS. Synaptics’s revenue was up 8.8% compared to the same quarter last year. As a group, research analysts forecast that Synaptics will post 0.72 EPS for the current year.

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.