Synaptics Incorporated (NASDAQ:SYNA) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Synaptics Incorporated (NASDAQ:SYNA) have earned an average rating of “Moderate Buy” from the nine analysts that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $97.33.

A number of equities research analysts have recently commented on the company. Craig Hallum cut their price objective on Synaptics from $105.00 to $80.00 and set a “hold” rating for the company in a research report on Friday, August 9th. TD Cowen increased their price objective on Synaptics from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, November 8th. KeyCorp downgraded Synaptics from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Needham & Company LLC cut their price objective on Synaptics from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Finally, Rosenblatt Securities cut their price objective on Synaptics from $130.00 to $92.00 and set a “buy” rating for the company in a research report on Friday, November 8th.

Insider Activity

In related news, insider Vikram Gupta sold 2,731 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $80.00, for a total transaction of $218,480.00. Following the completion of the sale, the insider now directly owns 43,245 shares in the company, valued at approximately $3,459,600. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 5,609 shares of company stock worth $448,720 over the last quarter. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Synaptics

Hedge funds and other institutional investors have recently modified their holdings of the company. CANADA LIFE ASSURANCE Co raised 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 acquiring an additional 6,276 shares in the last quarter. Point72 Asset Management L.P. raised its holdings 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 buying an additional 809,712 shares in the last quarter. Emerald Mutual Fund Advisers Trust raised its holdings in Synaptics by 88.7% during the second 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 in the last quarter. Squarepoint Ops LLC bought a new position in Synaptics during the second quarter valued at about $941,000. Finally, Intech Investment Management LLC bought a new position in Synaptics during the second quarter valued at about $1,923,000. 99.43% of the stock is currently owned by hedge funds and other institutional investors.

Synaptics Price Performance

Shares of NASDAQ:SYNA opened at $74.50 on Thursday. Synaptics has a one year low of $67.83 and a one year high of $121.37. The stock has a fifty day moving average of $73.82 and a 200-day moving average of $82.22. The company has a market capitalization of $2.98 billion, a PE ratio of 18.86 and a beta of 1.47. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.02 and a current ratio of 4.49.

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.