Analysts Set Synaptics Incorporated (NASDAQ:SYNA) Price Target at $105.44

Synaptics Incorporated (NASDAQ:SYNA) has received a consensus rating of “Moderate Buy” from the nine brokerages that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $105.44.

SYNA has been the topic of a number of analyst reports. Craig Hallum dropped their price objective 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. Needham & Company LLC dropped their price target on shares of Synaptics from $110.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. KeyCorp decreased their price objective on Synaptics from $115.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, August 9th. JPMorgan Chase & Co. lowered their target price on Synaptics from $120.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Finally, TD Cowen reduced their price target on Synaptics from $115.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, August 9th.

Synaptics Trading Down 0.2 %

NASDAQ SYNA opened at $78.48 on Wednesday. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of -28.96 and a beta of 1.47. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.19 and a quick ratio of 3.78. Synaptics has a 12 month low of $67.83 and a 12 month high of $121.37. The company’s fifty day moving average price is $77.54 and its two-hundred day moving average price is $86.79.

Synaptics (NASDAQ:SYNA) last announced its quarterly earnings data on Thursday, August 8th. The software maker reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.09. Synaptics had a negative return on equity of 0.54% and a net margin of 13.09%. The firm had revenue of $247.40 million for the quarter, compared to analysts’ expectations of $245.17 million. During the same quarter in the prior year, the firm posted $0.01 earnings per share. Synaptics’s revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, research analysts predict that Synaptics will post 0.72 earnings per share for the current fiscal year.

Insider Activity

In other Synaptics news, insider Vikram Gupta sold 1,008 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $80.00, for a total transaction of $80,640.00. Following the sale, the insider now owns 45,789 shares in the company, valued at approximately $3,663,120. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Synaptics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Algert Global LLC boosted its position in shares of Synaptics by 27.1% in the second quarter. Algert Global LLC now owns 35,047 shares of the software maker’s stock worth $3,091,000 after buying an additional 7,467 shares during the period. Squarepoint Ops LLC purchased a new stake in Synaptics in the 2nd quarter worth about $941,000. Point72 Asset Management L.P. boosted its position in Synaptics by 15,571.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 814,912 shares of the software maker’s stock worth $71,875,000 after acquiring an additional 809,712 shares during the period. Cubist Systematic Strategies LLC grew its stake in Synaptics by 1,121.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 18,021 shares of the software maker’s stock valued at $1,589,000 after acquiring an additional 16,546 shares in the last quarter. Finally, Aristeia Capital L.L.C. acquired a new position in shares of Synaptics in the 2nd quarter valued at about $318,000. 99.43% of the stock is currently owned by hedge funds and other 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.