Synaptics Incorporated (NASDAQ:SYNA) Receives $105.44 Consensus Price Target from Analysts

Shares of Synaptics Incorporated (NASDAQ:SYNA) have been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $101.00.

A number of equities research analysts have recently commented on SYNA shares. Craig Hallum dropped their price target on Synaptics from $105.00 to $80.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. KeyCorp downgraded shares of Synaptics from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Susquehanna cut their price target on shares of Synaptics from $110.00 to $95.00 and set a “positive” rating on the stock in a research note on Monday. TD Cowen lowered their price objective on shares of Synaptics from $115.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, Needham & Company LLC cut their price objective on shares of Synaptics from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, August 9th.

Synaptics Price Performance

Shares of SYNA stock opened at $72.60 on Friday. The firm’s 50 day moving average price is $75.31 and its two-hundred day moving average price is $83.78. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.78 and a current ratio of 4.19. Synaptics has a 52-week low of $67.83 and a 52-week high of $121.37. The stock has a market cap of $2.90 billion, a PE ratio of 23.42 and a beta of 1.46.

Synaptics (NASDAQ:SYNA) last released its earnings results on Thursday, August 8th. The software maker reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.09. The firm had revenue of $247.40 million for the quarter, compared to analyst estimates of $245.17 million. Synaptics had a negative return on equity of 0.54% and a net margin of 13.09%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.01 earnings per share. As a group, analysts forecast that Synaptics will post 0.81 EPS for the current year.

Insider Activity

In related news, insider Vikram Gupta sold 1,008 shares of Synaptics stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $80.00, for a total transaction of $80,640.00. Following the completion of the sale, the insider now directly owns 45,789 shares of the company’s stock, valued at approximately $3,663,120. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold 5,609 shares of company stock valued at $448,720 over the last ninety days. 1.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Synaptics

A number of large investors have recently added to or reduced their stakes in SYNA. Heron Bay Capital Management increased its holdings in Synaptics by 1.3% in the 1st quarter. Heron Bay Capital Management now owns 9,197 shares of the software maker’s stock valued at $897,000 after buying an additional 116 shares during the period. US Bancorp DE boosted its holdings in shares of Synaptics by 3.5% in the 1st quarter. US Bancorp DE now owns 3,603 shares of the software maker’s stock valued at $352,000 after purchasing an additional 123 shares in the last quarter. CWM LLC raised its holdings in shares of Synaptics by 26.0% during the 1st quarter. CWM LLC now owns 673 shares of the software maker’s stock worth $66,000 after buying an additional 139 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Synaptics by 0.3% during the 1st quarter. Russell Investments Group Ltd. now owns 48,665 shares of the software maker’s stock worth $4,748,000 after buying an additional 163 shares during the last quarter. Finally, Choreo LLC boosted its stake in Synaptics by 3.9% in the second quarter. Choreo LLC now owns 4,845 shares of the software maker’s stock valued at $417,000 after buying an additional 180 shares in 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.