Synaptics (NASDAQ:SYNA) Shares Gap Up – What’s Next?

Synaptics Incorporated (NASDAQ:SYNA)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $76.32, but opened at $79.88. Synaptics shares last traded at $81.06, with a volume of 144,928 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SYNA. TD Cowen boosted their target price on shares of Synaptics from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Susquehanna dropped their price target on Synaptics from $110.00 to $95.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Needham & Company LLC decreased their price objective on Synaptics from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, November 8th. KeyCorp downgraded Synaptics from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Finally, Rosenblatt Securities decreased their price target on shares of Synaptics from $130.00 to $92.00 and set a “buy” rating for the company in a report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $97.33.

Synaptics Stock Down 1.8 %

The company has a current ratio of 4.49, a quick ratio of 4.02 and a debt-to-equity ratio of 0.66. The firm has a market cap of $3.25 billion, a P/E ratio of 20.51 and a beta of 1.45. The business’s fifty day moving average price is $76.94 and its two-hundred day moving average price is $78.73.

Insider Activity

In related news, insider Vikram Gupta sold 411 shares of Synaptics stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $81.63, for a total value of $33,549.93. Following the transaction, the insider now owns 40,795 shares in the company, valued at $3,330,095.85. This trade represents a 1.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Synaptics

Institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its position in Synaptics by 3.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 907,347 shares of the software maker’s stock worth $80,027,000 after buying an additional 31,643 shares during the period. Point72 Asset Management L.P. increased its position in Synaptics by 15,571.4% during the second 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. Victory Capital Management Inc. raised its stake in Synaptics by 5.8% during the 3rd quarter. Victory Capital Management Inc. now owns 577,523 shares of the software maker’s stock valued at $44,804,000 after purchasing an additional 31,565 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Synaptics by 4.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 447,881 shares of the software maker’s stock valued at $34,747,000 after purchasing an additional 17,119 shares during the period. Finally, Emerald Advisers LLC grew its holdings in shares of Synaptics by 2.5% during the 3rd quarter. Emerald Advisers LLC now owns 207,287 shares of the software maker’s stock worth $16,081,000 after purchasing an additional 5,004 shares in the last quarter. 99.43% of the stock is currently owned by institutional investors.

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.