Synaptics Incorporated (NASDAQ:SYNA) Receives $97.33 Average Price Target from Analysts

Shares of Synaptics Incorporated (NASDAQ:SYNA) have received an average rating of “Moderate Buy” from the nine brokerages that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $97.33.

Several equities analysts recently issued reports on the stock. Rosenblatt Securities reduced their price objective on shares of Synaptics from $130.00 to $92.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Susquehanna decreased their price objective on Synaptics from $110.00 to $95.00 and set a “positive” rating on the stock in a report on Monday, October 21st. Needham & Company LLC dropped their target price on Synaptics from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, November 8th. KeyCorp cut Synaptics from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Finally, TD Cowen increased their price objective on shares of Synaptics from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, November 8th.

Insider Transactions at Synaptics

In other news, insider Vikram Gupta sold 411 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $81.63, for a total value of $33,549.93. Following the completion of the sale, the insider now owns 40,795 shares of the company’s stock, valued at $3,330,095.85. This represents a 1.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Synaptics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Synaptics by 3.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,357 shares of the software maker’s stock valued at $737,000 after purchasing an additional 299 shares during the period. Victory Capital Management Inc. increased its position in shares of 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 acquiring an additional 153,434 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Synaptics by 2.1% in the second quarter. Arizona State Retirement System now owns 11,002 shares of the software maker’s stock worth $970,000 after acquiring an additional 229 shares in the last quarter. Emerald Mutual Fund Advisers Trust boosted its holdings in Synaptics by 88.7% in 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 purchasing an additional 75,680 shares during the last quarter. Finally, Pier 88 Investment Partners LLC grew its stake in Synaptics by 10.9% during 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 in the last quarter. Hedge funds and other institutional investors own 99.43% of the company’s stock.

Synaptics Stock Down 1.8 %

SYNA opened at $81.01 on Friday. The business’s fifty day simple moving average is $76.94 and its 200 day simple moving average is $78.65. Synaptics has a 52 week low of $67.83 and a 52 week high of $115.85. The firm has a market cap of $3.25 billion, a P/E ratio of 20.51 and a beta of 1.44. The company has a quick ratio of 4.02, a current ratio of 4.49 and a debt-to-equity ratio of 0.66.

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.