Synaptics Incorporated (NASDAQ:SYNA) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Synaptics Incorporated (NASDAQ:SYNA) have been assigned an average rating of “Moderate Buy” from the nine research firms that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $105.44.

Several analysts have issued reports on SYNA shares. Needham & Company LLC lowered their target price on Synaptics from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Craig Hallum dropped their price objective on shares of Synaptics from $105.00 to $80.00 and set a “hold” rating on the stock in a report on Friday, August 9th. JPMorgan Chase & Co. reduced their price objective on shares of Synaptics from $120.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. TD Cowen dropped their target price on Synaptics from $115.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, KeyCorp decreased their price objective on Synaptics from $115.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th.

Insider Activity at Synaptics

In other Synaptics news, insider Vikram Gupta sold 1,870 shares of Synaptics stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $80.00, for a total value of $149,600.00. Following the transaction, the insider now directly owns 46,797 shares of the company’s stock, valued at approximately $3,743,760. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 5,609 shares of company stock worth $448,720 in the last ninety days. 1.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Norges Bank purchased a new stake in Synaptics in the 4th quarter worth approximately $40,261,000. UBS Group AG lifted its stake in Synaptics by 26.8% in the fourth quarter. UBS Group AG now owns 105,457 shares of the software maker’s stock worth $12,031,000 after acquiring an additional 22,308 shares during the period. Virtu Financial LLC bought a new stake in Synaptics in the fourth quarter valued at $549,000. Goldman Sachs Group Inc. increased its position in Synaptics by 34.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 390,251 shares of the software maker’s stock valued at $44,520,000 after purchasing an additional 100,150 shares during the period. Finally, Wellington Management Group LLP raised its holdings in Synaptics by 3.4% in the 4th quarter. Wellington Management Group LLP now owns 1,373,759 shares of the software maker’s stock worth $156,718,000 after purchasing an additional 44,548 shares in the last quarter. Hedge funds and other institutional investors own 99.43% of the company’s stock.

Synaptics Stock Performance

Shares of SYNA opened at $75.39 on Wednesday. The stock has a 50 day moving average of $77.26 and a 200 day moving average of $86.38. The company has a current ratio of 4.19, a quick ratio of 3.78 and a debt-to-equity ratio of 0.66. Synaptics has a 12 month low of $67.83 and a 12 month high of $121.37. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of -27.82 and a beta of 1.47.

Synaptics (NASDAQ:SYNA) last released its earnings results on Thursday, August 8th. The software maker reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.09. The company had revenue of $247.40 million for the quarter, compared to analysts’ expectations of $245.17 million. Synaptics had a negative return on equity of 0.54% and a net margin of 13.09%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.01 EPS. As a group, sell-side analysts forecast that Synaptics will post 0.72 earnings per share for the current year.

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.