Synaptics (NASDAQ:SYNA) Stock Rating Lowered by KeyCorp

Synaptics (NASDAQ:SYNA) was downgraded by analysts at KeyCorp from an “overweight” rating to a “sector weight” rating in a research report issued to clients and investors on Tuesday, MarketBeat.com reports.

Several other equities research analysts have also commented on SYNA. Needham & Company LLC lowered their price target on shares of Synaptics from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, August 9th. TD Cowen decreased their price target on Synaptics from $115.00 to $90.00 and set a “buy” rating for the company in a report on Friday, August 9th. JPMorgan Chase & Co. dropped their price objective on shares of Synaptics from $120.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Finally, Craig Hallum lowered their price target 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. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Synaptics presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.44.

Synaptics Stock Performance

Shares of Synaptics stock opened at $72.71 on Tuesday. The company has a 50 day moving average price of $75.42 and a 200 day moving average price of $85.33. The firm has a market capitalization of $2.90 billion, a P/E ratio of -26.83 and a beta of 1.46. The company has a quick ratio of 3.78, a current ratio of 4.19 and a debt-to-equity ratio of 0.66. Synaptics has a 52 week low of $67.83 and a 52 week high of $121.37.

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

Insider Buying and Selling

In related news, insider Vikram Gupta sold 2,731 shares of Synaptics stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $80.00, for a total value of $218,480.00. Following the sale, the insider now directly owns 43,245 shares in the company, valued at approximately $3,459,600. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 5,609 shares of company stock worth $448,720 in the last 90 days. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Synaptics

Several institutional investors and hedge funds have recently added to or reduced their stakes in SYNA. Virtu Financial LLC purchased a new position in shares of Synaptics in the fourth quarter worth about $549,000. Goldman Sachs Group Inc. boosted its holdings in shares of Synaptics by 34.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 390,251 shares of the software maker’s stock worth $44,520,000 after purchasing an additional 100,150 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Synaptics by 3.4% in the fourth quarter. Wellington Management Group LLP now owns 1,373,759 shares of the software maker’s stock valued at $156,718,000 after purchasing an additional 44,548 shares in the last quarter. Willner & Heller LLC purchased a new position in Synaptics during the fourth quarter worth approximately $807,000. Finally, CWM LLC boosted its stake in Synaptics by 26.0% during the first quarter. CWM LLC now owns 673 shares of the software maker’s stock worth $66,000 after buying an additional 139 shares during the last quarter. 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.