Synaptics (NASDAQ:SYNA) Price Target Cut to $95.00 by Analysts at Susquehanna

Synaptics (NASDAQ:SYNA) had its price objective reduced by investment analysts at Susquehanna from $110.00 to $95.00 in a research note issued on Monday, Benzinga reports. The firm currently has a “positive” rating on the software maker’s stock. Susquehanna’s price target points to a potential upside of 30.85% from the company’s current price.

A number of other brokerages have also recently issued reports on SYNA. JPMorgan Chase & Co. lowered their price objective on Synaptics from $120.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Needham & Company LLC reduced their price objective on shares of Synaptics from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, August 9th. TD Cowen dropped their price objective on Synaptics from $115.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, August 9th. KeyCorp lowered Synaptics from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Finally, Craig Hallum lowered their price target on shares of Synaptics from $105.00 to $80.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Synaptics presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.00.

Synaptics Stock Up 1.8 %

SYNA stock opened at $72.60 on Monday. The stock has a market cap of $2.90 billion, a P/E ratio of 23.42 and a beta of 1.46. 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’s fifty day simple moving average is $75.31 and its two-hundred day simple moving average is $83.78. Synaptics has a 1-year low of $67.83 and a 1-year high of $121.37.

Synaptics (NASDAQ:SYNA) last issued its quarterly earnings results on Thursday, August 8th. The software maker reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.09. The company had revenue of $247.40 million for the quarter, compared to the consensus estimate of $245.17 million. Synaptics had a net margin of 13.09% and a negative return on equity of 0.54%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.01 EPS. Analysts expect that Synaptics will post 0.81 EPS for the current year.

Insider Transactions at Synaptics

In other Synaptics news, insider Vikram Gupta sold 1,870 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $80.00, for a total transaction of $149,600.00. Following the sale, the insider now owns 46,797 shares in the company, valued at $3,743,760. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 5,609 shares of company stock valued at $448,720 in the last quarter. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Synaptics

Several institutional investors have recently bought and sold shares of SYNA. GAMMA Investing LLC raised its position in Synaptics by 261.8% during the 3rd quarter. GAMMA Investing LLC now owns 369 shares of the software maker’s stock valued at $29,000 after purchasing an additional 267 shares during the last quarter. CWM LLC raised its position in shares of Synaptics by 26.0% in the 1st quarter. CWM LLC now owns 673 shares of the software maker’s stock worth $66,000 after acquiring an additional 139 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Synaptics in the 2nd quarter worth approximately $67,000. Register Financial Advisors LLC bought a new position in shares of Synaptics in the 1st quarter worth approximately $76,000. Finally, Innealta Capital LLC bought a new position in shares of Synaptics in the 2nd quarter worth approximately $83,000. 99.43% of the stock is currently 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.