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

Shares of Synaptics Incorporated (NASDAQ:SYNA) have received an average recommendation of “Moderate Buy” from the nine research firms that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $105.44.

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

Synaptics Trading Up 0.2 %

NASDAQ:SYNA opened at $73.51 on Wednesday. The company has a 50-day moving average price of $78.44 and a 200-day moving average price of $87.15. Synaptics has a 12 month low of $67.83 and a 12 month high of $121.37. The company has a current ratio of 4.19, a quick ratio of 3.78 and a debt-to-equity ratio of 0.66. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of -27.12 and a beta of 1.47.

Synaptics (NASDAQ:SYNA) last issued its quarterly earnings data on Thursday, August 8th. The software maker reported $0.64 EPS for the quarter, topping the consensus estimate of $0.55 by $0.09. The business had revenue of $247.40 million during the quarter, compared to analyst estimates of $245.17 million. Synaptics had a net margin of 13.09% and a negative return on equity of 0.54%. Synaptics’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period last year, the business posted $0.01 earnings per share. Equities analysts predict that Synaptics will post 0.72 EPS for the current year.

Insider Buying and Selling at Synaptics

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 transaction, the insider now owns 45,789 shares of the company’s stock, valued at $3,663,120. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 3,135 shares of company stock worth $252,381 in the last three months. 1.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Synaptics

A number of institutional investors have recently bought and sold shares of the stock. CWM LLC increased its position in Synaptics by 26.0% in the first quarter. CWM LLC now owns 673 shares of the software maker’s stock worth $66,000 after buying an additional 139 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Synaptics in the 2nd quarter worth approximately $67,000. Register Financial Advisors LLC bought a new stake in Synaptics during the 1st quarter worth approximately $76,000. Innealta Capital LLC purchased a new position in Synaptics during the second quarter valued at approximately $83,000. Finally, nVerses Capital LLC bought a new position in shares of Synaptics in the second quarter worth approximately $141,000. 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.