Synaptics (NASDAQ:SYNA) Trading Up 5.5%

Synaptics Incorporated (NASDAQ:SYNA)’s stock price was up 5.5% during mid-day trading on Thursday . The stock traded as high as $78.92 and last traded at $78.79. Approximately 20,843 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 302,263 shares. The stock had previously closed at $74.65.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SYNA shares. TD Cowen lowered their price target on Synaptics from $115.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. JPMorgan Chase & Co. cut their price target on shares of Synaptics from $120.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Craig Hallum cut their target price on shares of Synaptics from $105.00 to $80.00 and set a “hold” rating for the company in a research note on Friday, August 9th. KeyCorp dropped their price objective on shares of Synaptics from $115.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Finally, Needham & Company LLC reduced their price target on Synaptics from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $105.44.

Synaptics Stock Up 3.3 %

The stock has a market capitalization of $3.08 billion, a P/E ratio of -29.42 and a beta of 1.47. The firm’s 50-day simple moving average is $79.90 and its 200 day simple moving average is $88.14. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.78 and a current ratio of 4.19.

Synaptics (NASDAQ:SYNA) last announced its quarterly earnings data on Thursday, August 8th. The software maker reported $0.64 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 company had revenue of $247.40 million during the quarter, compared to the consensus estimate of $245.17 million. During the same quarter last year, the firm posted $0.01 EPS. The company’s quarterly revenue was up 8.8% on a year-over-year basis. As a group, research analysts expect that Synaptics Incorporated will post 0.72 EPS for the current year.

Insider Activity

In related news, insider Vikram Gupta sold 1,008 shares of Synaptics stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $80.00, for a total transaction of $80,640.00. Following the completion of the sale, the insider now owns 45,789 shares of the company’s stock, valued at approximately $3,663,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 3,135 shares of company stock valued at $252,381 in the last quarter. Company insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Synaptics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP increased its position in Synaptics by 3.4% during the 4th quarter. Wellington Management Group LLP now owns 1,373,759 shares of the software maker’s stock valued at $156,718,000 after purchasing an additional 44,548 shares during the period. Bank of New York Mellon Corp increased its position in Synaptics by 18.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,259,106 shares of the software maker’s stock valued at $111,053,000 after buying an additional 193,182 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Synaptics by 3.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 907,347 shares of the software maker’s stock valued at $80,027,000 after buying an additional 31,643 shares in the last quarter. Point72 Asset Management L.P. increased its position in Synaptics by 15,571.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 814,912 shares of the software maker’s stock valued at $71,875,000 after buying an additional 809,712 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Synaptics by 39.1% during the 2nd quarter. Victory Capital Management Inc. now owns 545,958 shares of the software maker’s stock valued at $48,153,000 after purchasing an additional 153,434 shares during the last quarter. 99.43% of the stock is currently owned by institutional investors and hedge funds.

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.