Synaptics Incorporated (NASDAQ:SYNA) Receives $117.67 Average PT from Brokerages

Shares of Synaptics Incorporated (NASDAQ:SYNA) have been given a consensus recommendation of “Moderate Buy” by the nine research firms that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $117.67.

SYNA has been the subject of a number of research analyst reports. Wells Fargo & Company lowered their target price on Synaptics from $115.00 to $95.00 and set an “equal weight” rating for the company in a report on Friday, May 10th. TD Cowen decreased their price objective on Synaptics from $135.00 to $115.00 and set a “buy” rating for the company in a report on Friday, May 10th. Needham & Company LLC decreased their price objective on Synaptics from $125.00 to $110.00 and set a “buy” rating for the company in a report on Friday, May 10th. Finally, KeyCorp decreased their price objective on Synaptics from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Friday, May 10th.

Synaptics Stock Performance

Shares of SYNA stock opened at $90.38 on Monday. The business’s 50-day moving average price is $90.43 and its 200-day moving average price is $100.30. Synaptics has a 12 month low of $73.38 and a 12 month high of $121.37. The firm has a market capitalization of $3.57 billion, a price-to-earnings ratio of -33.35 and a beta of 1.48. The company has a current ratio of 5.32, a quick ratio of 4.78 and a debt-to-equity ratio of 0.78.

Synaptics (NASDAQ:SYNA) last posted its quarterly earnings data on Thursday, May 9th. The software maker reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. The company had revenue of $237.30 million for the quarter, compared to analyst estimates of $235.17 million. Synaptics had a negative return on equity of 0.90% and a negative net margin of 11.30%. The firm’s quarterly revenue was down 27.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.14 earnings per share. Equities research analysts forecast that Synaptics will post -0.36 EPS for the current year.

Institutional Investors Weigh In On Synaptics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. raised its stake in Synaptics by 1,255.2% in the fourth quarter. Victory Capital Management Inc. now owns 394,383 shares of the software maker’s stock valued at $44,991,000 after purchasing an additional 365,282 shares in the last quarter. Norges Bank purchased a new stake in Synaptics in the fourth quarter valued at approximately $40,261,000. FMR LLC raised its stake in Synaptics by 39.3% in the third quarter. FMR LLC now owns 1,124,544 shares of the software maker’s stock valued at $100,579,000 after purchasing an additional 317,307 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Synaptics by 49.1% in the third quarter. The Manufacturers Life Insurance Company now owns 437,966 shares of the software maker’s stock valued at $39,172,000 after purchasing an additional 144,252 shares in the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in Synaptics in the first quarter valued at approximately $13,065,000. 99.43% of the stock is owned by hedge funds and other institutional investors.

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.