Synaptics (NASDAQ:SYNA) Reaches New 1-Year Low – Here’s Why

Synaptics Incorporated (NASDAQ:SYNA)’s stock price hit a new 52-week low on Wednesday . The company traded as low as $61.29 and last traded at $61.92, with a volume of 795104 shares traded. The stock had previously closed at $62.91.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Craig Hallum raised Synaptics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 29th. Susquehanna upped their target price on Synaptics from $95.00 to $105.00 and gave the stock a “positive” rating in a research report on Wednesday, January 22nd. TD Cowen upped their target price on Synaptics from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Rosenblatt Securities reissued a “buy” rating and issued a $105.00 price target on shares of Synaptics in a research report on Thursday, February 27th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $90.00 price target on shares of Synaptics in a research report on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Synaptics has an average rating of “Moderate Buy” and an average target price of $96.88.

Synaptics Price Performance

The firm has a market capitalization of $2.51 billion, a PE ratio of 15.12 and a beta of 1.45. The business has a 50-day moving average of $76.19 and a 200 day moving average of $75.97. The company has a current ratio of 3.88, a quick ratio of 3.36 and a debt-to-equity ratio of 0.60.

Insider Activity

In other Synaptics news, insider Ken Rizvi bought 3,600 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was purchased at an average cost of $69.15 per share, with a total value of $248,940.00. Following the transaction, the insider now directly owns 27,630 shares in the company, valued at $1,910,614.50. This trade represents a 14.98 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ameriprise Financial Inc. grew its stake in shares of Synaptics by 1.0% during the 4th quarter. Ameriprise Financial Inc. now owns 4,979,894 shares of the software maker’s stock worth $380,059,000 after acquiring an additional 51,498 shares during the period. Vanguard Group Inc. grew its stake in shares of Synaptics by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 4,907,880 shares of the software maker’s stock worth $374,569,000 after acquiring an additional 93,155 shares during the period. Toronto Dominion Bank bought a new position in shares of Synaptics during the 4th quarter worth $152,895,000. FMR LLC grew its stake in shares of Synaptics by 0.9% during the 4th quarter. FMR LLC now owns 1,891,227 shares of the software maker’s stock worth $144,338,000 after acquiring an additional 16,337 shares during the period. Finally, Trigran Investments Inc. grew its stake in shares of Synaptics by 5.9% during the 4th quarter. Trigran Investments Inc. now owns 1,072,222 shares of the software maker’s stock worth $81,832,000 after acquiring an additional 59,647 shares during the period. Institutional investors own 99.43% of the company’s stock.

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.