Synaptics Incorporated (NASDAQ:SYNA) Receives Average Rating of “Buy” from Analysts

Synaptics Incorporated (NASDAQ:SYNA) has been given a consensus rating of “Buy” by the seven research firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $94.00.

Several equities analysts have weighed in on SYNA shares. Needham & Company LLC started coverage on shares of Synaptics in a report on Friday, May 9th. They set a “buy” rating and a $80.00 target price for the company. Wall Street Zen upgraded shares of Synaptics from a “hold” rating to a “buy” rating in a report on Saturday, August 9th.

Synaptics Stock Performance

Shares of SYNA opened at $66.80 on Friday. The company has a 50-day simple moving average of $65.49 and a 200-day simple moving average of $63.48. The company has a quick ratio of 2.26, a current ratio of 2.78 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $2.57 billion, a PE ratio of -55.21 and a beta of 1.61. Synaptics has a 52-week low of $41.80 and a 52-week high of $89.81.

Synaptics (NASDAQ:SYNA) last announced its quarterly earnings results on Thursday, August 7th. The software maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01. The business had revenue of $282.80 million during the quarter, compared to the consensus estimate of $280.12 million. Synaptics had a negative net margin of 4.45% and a positive return on equity of 4.32%. The business’s revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.64 EPS. Equities research analysts predict that Synaptics will post 0.96 earnings per share for the current fiscal year.

Synaptics announced that its board has initiated a stock buyback program on Thursday, August 7th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the software maker to purchase up to 6.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Synaptics

Several hedge funds have recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Synaptics in the first quarter worth approximately $25,000. Parallel Advisors LLC lifted its position in Synaptics by 151.1% during the first quarter. Parallel Advisors LLC now owns 447 shares of the software maker’s stock valued at $28,000 after buying an additional 269 shares in the last quarter. Menard Financial Group LLC acquired a new position in Synaptics during the fourth quarter valued at approximately $37,000. Quarry LP lifted its position in Synaptics by 220.0% during the first quarter. Quarry LP now owns 528 shares of the software maker’s stock valued at $34,000 after buying an additional 363 shares in the last quarter. Finally, Banque Cantonale Vaudoise acquired a new position in Synaptics during the first quarter valued at approximately $35,000. 99.43% of the stock is owned by institutional investors and hedge funds.

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.