Synaptics’ (SYNA) “Buy” Rating Reiterated at Needham & Company LLC

Synaptics (NASDAQ:SYNA)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $90.00 price objective on the software maker’s stock. Needham & Company LLC’s target price suggests a potential upside of 18.56% from the company’s previous close.

SYNA has been the topic of a number of other research reports. TD Cowen increased their price target on Synaptics from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Craig Hallum upgraded Synaptics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 29th. KeyCorp lowered Synaptics from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Rosenblatt Securities reaffirmed a “buy” rating and set a $92.00 price objective on shares of Synaptics in a research note on Tuesday. Finally, Susquehanna raised their target price on shares of Synaptics from $95.00 to $105.00 and gave the stock a “positive” rating in a research report on Wednesday, January 22nd. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $98.44.

Synaptics Stock Performance

Shares of NASDAQ SYNA opened at $75.91 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.49 and a quick ratio of 4.02. The company has a market cap of $3.04 billion, a PE ratio of 19.22 and a beta of 1.45. The company has a 50-day simple moving average of $79.98 and a 200-day simple moving average of $77.39. Synaptics has a 12 month low of $67.83 and a 12 month high of $115.85.

Insider Buying and Selling at Synaptics

In other Synaptics news, insider Vikram Gupta sold 411 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $81.63, for a total value of $33,549.93. Following the transaction, the insider now directly owns 40,795 shares of the company’s stock, valued at $3,330,095.85. This trade represents a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Synaptics

Several hedge funds and other institutional investors have recently bought and sold shares of SYNA. TimesSquare Capital Management LLC increased its stake in Synaptics by 46.0% during the 4th quarter. TimesSquare Capital Management LLC now owns 526,335 shares of the software maker’s stock worth $40,170,000 after buying an additional 165,866 shares during the period. Cardinal Capital Management lifted its stake in shares of Synaptics by 34.2% in the fourth quarter. Cardinal Capital Management now owns 35,846 shares of the software maker’s stock worth $2,736,000 after acquiring an additional 9,141 shares in the last quarter. Peregrine Capital Management LLC grew its stake in Synaptics by 210.0% during the 4th quarter. Peregrine Capital Management LLC now owns 204,829 shares of the software maker’s stock valued at $15,633,000 after purchasing an additional 138,748 shares in the last quarter. Principal Financial Group Inc. grew its stake in Synaptics by 0.4% during the 4th quarter. Principal Financial Group Inc. now owns 92,053 shares of the software maker’s stock valued at $7,025,000 after purchasing an additional 333 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D increased its holdings in Synaptics by 16.7% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 28,878 shares of the software maker’s stock worth $2,204,000 after purchasing an additional 4,133 shares during the last quarter. 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.