Synaptics Incorporated (NASDAQ:SYNA) Receives $95.00 Consensus Price Target from Brokerages

Synaptics Incorporated (NASDAQ:SYNA) has received an average rating of “Buy” from the eight ratings firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $93.75.

SYNA has been the topic of several recent analyst reports. Needham & Company LLC assumed coverage on Synaptics in a research note on Friday. They issued a “buy” rating and a $80.00 price target on the stock. Craig Hallum raised Synaptics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 29th. Mizuho reduced their price target on shares of Synaptics from $90.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, March 24th. Susquehanna lifted their price target on shares of Synaptics from $95.00 to $105.00 and gave the company a “positive” rating in a report on Wednesday, January 22nd. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $105.00 price objective on shares of Synaptics in a research note on Thursday, February 27th.

Synaptics Stock Up 0.1 %

Shares of NASDAQ SYNA opened at $59.83 on Thursday. Synaptics has a 52 week low of $41.80 and a 52 week high of $98.00. The stock’s fifty day moving average is $57.30 and its 200 day moving average is $69.82. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.36 and a current ratio of 3.88. The stock has a market capitalization of $2.34 billion, a P/E ratio of 14.14 and a beta of 1.67.

Synaptics (NASDAQ:SYNA) last issued its earnings results on Thursday, May 8th. The software maker reported $0.90 EPS for the quarter, beating the consensus estimate of $0.85 by $0.05. The company had revenue of $266.60 million during the quarter, compared to analysts’ expectations of $265.03 million. Synaptics had a net margin of 16.73% and a return on equity of 1.61%. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.53 EPS. Sell-side analysts forecast that Synaptics will post 0.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Ken Rizvi bought 3,600 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was acquired at an average price of $69.15 per share, with a total value of $248,940.00. Following the transaction, the insider now owns 27,630 shares of the company’s stock, valued at $1,910,614.50. This trade represents a 14.98 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Synaptics

A number of institutional investors have recently modified their holdings of the company. Deutsche Bank AG lifted its holdings in Synaptics by 1.6% in the first quarter. Deutsche Bank AG now owns 192,521 shares of the software maker’s stock valued at $12,267,000 after buying an additional 3,123 shares during the period. Altfest L J & Co. Inc. bought a new position in shares of Synaptics in the 1st quarter worth about $264,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Synaptics by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 474,083 shares of the software maker’s stock valued at $30,209,000 after purchasing an additional 2,500 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Synaptics by 32.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,016 shares of the software maker’s stock valued at $65,000 after purchasing an additional 249 shares in the last quarter. Finally, Jefferies Financial Group Inc. grew its stake in Synaptics by 29.0% during the first quarter. Jefferies Financial Group Inc. now owns 5,776 shares of the software maker’s stock worth $368,000 after purchasing an additional 1,298 shares during the period. 99.43% of the stock is owned by institutional investors.

Synaptics Company Profile

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.