Synaptics (NASDAQ:SYNA) Price Target Lowered to $100.00 at JPMorgan Chase & Co.

Synaptics (NASDAQ:SYNA) had its target price reduced by JPMorgan Chase & Co. from $120.00 to $100.00 in a report published on Friday morning, Benzinga reports. They currently have an overweight rating on the software maker’s stock.

Several other equities research analysts have also issued reports on SYNA. Wells Fargo & Company lowered their price target on shares of Synaptics from $115.00 to $95.00 and set an equal weight rating on the stock in a research note on Friday, May 10th. Needham & Company LLC decreased their price objective on shares of Synaptics from $110.00 to $95.00 and set a buy rating for the company in a research report on Friday. Craig Hallum decreased 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. TD Cowen decreased their price objective on shares of Synaptics from $115.00 to $90.00 and set a buy rating for the company in a research report on Friday. Finally, KeyCorp decreased their price objective on shares of Synaptics from $115.00 to $100.00 and set an overweight rating for the company in a research report on Friday. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $105.44.

Synaptics Stock Down 2.4 %

SYNA stock traded down $1.74 during midday trading on Friday, hitting $70.97. The company’s stock had a trading volume of 44,130 shares, compared to its average volume of 296,600. The company has a debt-to-equity ratio of 0.78, a current ratio of 5.32 and a quick ratio of 4.78. Synaptics has a twelve month low of $67.83 and a twelve month high of $121.37. The company’s fifty day moving average price is $87.86 and its 200 day moving average price is $94.08. The stock has a market capitalization of $2.80 billion, a P/E ratio of -26.31 and a beta of 1.47.

Synaptics (NASDAQ:SYNA) last issued its quarterly earnings results on Thursday, August 8th. The software maker reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.09. Synaptics had a negative net margin of 11.30% and a negative return on equity of 0.90%. The firm had revenue of $247.40 million for the quarter, compared to analyst estimates of $245.17 million. During the same period in the previous year, the business earned $0.01 EPS. The company’s revenue was up 8.8% compared to the same quarter last year. As a group, equities research analysts predict that Synaptics will post -0.36 EPS for the current year.

Institutional Trading of Synaptics

Hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC raised its stake in Synaptics by 26.0% in the 1st quarter. CWM LLC now owns 673 shares of the software maker’s stock worth $66,000 after purchasing an additional 139 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Synaptics in the 2nd quarter valued at approximately $67,000. Register Financial Advisors LLC bought a new stake in shares of Synaptics during the 1st quarter worth approximately $76,000. Innealta Capital LLC acquired a new stake in shares of Synaptics during the 2nd quarter worth approximately $83,000. Finally, nVerses Capital LLC acquired a new stake in shares of Synaptics during the 2nd quarter worth approximately $141,000. Institutional investors and hedge funds own 99.43% of the company’s stock.

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.