Needham & Company LLC Reiterates “Buy” Rating for Synaptics (NASDAQ:SYNA)

Synaptics (NASDAQ:SYNA)‘s stock had its “buy” rating reiterated by research analysts at Needham & Company LLC in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $90.00 price target on the software maker’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 4.46% from the company’s current price.

A number of other analysts have also recently weighed in on the stock. TD Cowen increased their price target on shares of Synaptics from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. KeyCorp downgraded shares of Synaptics from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Rosenblatt Securities dropped their price target on Synaptics from $130.00 to $92.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Finally, Susquehanna increased their price objective on Synaptics from $95.00 to $105.00 and gave the stock a “positive” rating in a research report on Wednesday, January 22nd. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $98.44.

Synaptics Price Performance

Shares of NASDAQ SYNA opened at $86.16 on Wednesday. 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 stock has a market cap of $3.45 billion, a P/E ratio of 21.81 and a beta of 1.44. The stock has a 50 day moving average of $79.90 and a two-hundred day moving average of $77.85. Synaptics has a twelve month low of $67.83 and a twelve month high of $115.85.

Insiders Place Their Bets

In other news, insider Vikram Gupta sold 411 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $81.63, for a total transaction 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 represents a 1.00 % decrease in their position. 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 insiders.

Institutional Investors Weigh In On Synaptics

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in Synaptics by 261.8% during the third quarter. GAMMA Investing LLC now owns 369 shares of the software maker’s stock worth $29,000 after purchasing an additional 267 shares during the last quarter. Quarry LP purchased a new position in shares of Synaptics in the third quarter valued at $31,000. CWM LLC raised its stake in shares of Synaptics by 58.1% during the 3rd quarter. CWM LLC now owns 1,151 shares of the software maker’s stock worth $89,000 after buying an additional 423 shares during the last quarter. KBC Group NV lifted its holdings in shares of Synaptics by 87.4% in the fourth quarter. KBC Group NV now owns 1,795 shares of the software maker’s stock valued at $137,000 after purchasing an additional 837 shares in the last quarter. Finally, Van ECK Associates Corp purchased a new stake in Synaptics in the 3rd quarter valued at approximately $132,000. Institutional investors and hedge funds 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.