Synaptics (NASDAQ:SYNA) Shares Gap Up – Should You Buy?

Synaptics Incorporated (NASDAQ:SYNA) gapped up prior to trading on Thursday . The stock had previously closed at $76.32, but opened at $79.88. Synaptics shares last traded at $81.06, with a volume of 144,928 shares trading hands.

Analysts Set New Price Targets

SYNA has been the subject of a number of recent analyst reports. Needham & Company LLC dropped their price target on Synaptics from $95.00 to $90.00 and set a “buy” rating for the company in a report on Friday, November 8th. KeyCorp lowered shares of Synaptics from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Susquehanna lowered their price target on shares of Synaptics from $110.00 to $95.00 and set a “positive” rating for the company in a report on Monday, October 21st. Rosenblatt Securities dropped their target price on Synaptics from $130.00 to $92.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Finally, TD Cowen raised their target price on shares of Synaptics from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.33.

Synaptics Price Performance

The stock has a market cap of $3.25 billion, a P/E ratio of 20.51 and a beta of 1.45. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.49 and a quick ratio of 4.02. The company’s 50 day simple moving average is $76.94 and its 200 day simple moving average is $78.73.

Insiders Place Their Bets

In related news, insider Vikram Gupta sold 411 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $81.63, for a total value of $33,549.93. Following the sale, the insider now directly owns 40,795 shares of the company’s stock, valued at approximately $3,330,095.85. The trade was a 1.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Synaptics

A number of institutional investors have recently modified their holdings of SYNA. Victory Capital Management Inc. boosted its holdings in Synaptics by 39.1% during the second quarter. Victory Capital Management Inc. now owns 545,958 shares of the software maker’s stock worth $48,153,000 after purchasing an additional 153,434 shares during the last quarter. Arizona State Retirement System grew its position in shares of Synaptics by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 11,002 shares of the software maker’s stock valued at $970,000 after acquiring an additional 229 shares during the period. Emerald Mutual Fund Advisers Trust increased its stake in shares of Synaptics by 88.7% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 160,993 shares of the software maker’s stock worth $14,200,000 after purchasing an additional 75,680 shares during the last quarter. Pier 88 Investment Partners LLC raised its holdings in shares of Synaptics by 10.9% in the 2nd quarter. Pier 88 Investment Partners LLC now owns 8,670 shares of the software maker’s stock valued at $765,000 after purchasing an additional 850 shares during the period. Finally, Emerald Advisers LLC raised its stake in Synaptics by 56.0% in the second quarter. Emerald Advisers LLC now owns 202,283 shares of the software maker’s stock valued at $17,841,000 after buying an additional 72,611 shares during the period. 99.43% of the stock is currently owned by 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.