Synaptics Incorporated (NASDAQ:SYNA) Receives $105.44 Consensus Target Price from Brokerages

Shares of Synaptics Incorporated (NASDAQ:SYNA) have earned an average recommendation of “Moderate Buy” from the nine research firms that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $101.00.

SYNA has been the subject of a number of recent research reports. Craig Hallum cut their price objective on shares of Synaptics from $105.00 to $80.00 and set a “hold” rating for the company in a research report on Friday, August 9th. KeyCorp downgraded shares of Synaptics from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Needham & Company LLC dropped their target price on shares of Synaptics from $110.00 to $95.00 and set a “buy” rating for the company in a report on Friday, August 9th. JPMorgan Chase & Co. dropped their target price on shares of Synaptics from $120.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Finally, TD Cowen dropped their target price on shares of Synaptics from $115.00 to $90.00 and set a “buy” rating for the company in a report on Friday, August 9th.

Synaptics Trading Up 0.8 %

Shares of SYNA stock opened at $71.80 on Friday. Synaptics has a 1 year low of $67.83 and a 1 year high of $121.37. The firm has a fifty day moving average price of $75.17 and a 200-day moving average price of $83.61. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.19 and a quick ratio of 3.78. The company has a market cap of $2.84 billion, a price-to-earnings ratio of -26.49 and a beta of 1.46.

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

Insider Buying and Selling at Synaptics

In other Synaptics news, insider Vikram Gupta sold 1,008 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $80.00, for a total transaction of $80,640.00. Following the completion of the transaction, the insider now owns 45,789 shares of the company’s stock, valued at $3,663,120. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 5,609 shares of company stock valued at $448,720 in the last 90 days. Insiders own 1.20% of the company’s stock.

Institutional Trading of Synaptics

Several hedge funds have recently made changes to their positions in SYNA. CWM LLC raised its position in shares of Synaptics by 26.0% during the 1st quarter. CWM LLC now owns 673 shares of the software maker’s stock valued at $66,000 after buying an additional 139 shares in the last quarter. Cardinal Capital Management raised its position in shares of Synaptics by 26.3% during the 1st quarter. Cardinal Capital Management now owns 21,036 shares of the software maker’s stock valued at $2,052,000 after buying an additional 4,382 shares in the last quarter. Register Financial Advisors LLC purchased a new stake in shares of Synaptics during the 1st quarter valued at about $76,000. State of Michigan Retirement System raised its position in shares of Synaptics by 2.1% during the 1st quarter. State of Michigan Retirement System now owns 9,633 shares of the software maker’s stock valued at $940,000 after buying an additional 200 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Synaptics by 2.0% during the 1st quarter. Principal Financial Group Inc. now owns 149,281 shares of the software maker’s stock valued at $14,564,000 after buying an additional 2,888 shares in the last quarter. 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.