Synaptics (NASDAQ:SYNA) Trading Up 0.2%

Synaptics Incorporated (NASDAQ:SYNA) shares shot up 0.2% during mid-day trading on Monday . The company traded as high as $90.58 and last traded at $88.84. 17,584 shares traded hands during trading, a decline of 94% from the average session volume of 282,181 shares. The stock had previously closed at $88.62.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SYNA. KeyCorp dropped their price objective on shares of Synaptics from $135.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, May 10th. Wells Fargo & Company dropped their target price on shares of Synaptics from $115.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Friday, May 10th. TD Cowen reduced their price target on shares of Synaptics from $135.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Finally, Needham & Company LLC decreased their price target on shares of Synaptics from $125.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Synaptics has a consensus rating of “Moderate Buy” and a consensus price target of $117.67.

Synaptics Stock Performance

The firm has a fifty day moving average price of $90.54 and a 200 day moving average price of $95.90. The company has a current ratio of 5.32, a quick ratio of 4.78 and a debt-to-equity ratio of 0.78. The firm has a market cap of $3.39 billion, a PE ratio of -31.67 and a beta of 1.47.

Synaptics (NASDAQ:SYNA) last released its quarterly earnings data on Thursday, May 9th. The software maker reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.04. The firm had revenue of $237.30 million during the quarter, compared to analysts’ expectations of $235.17 million. Synaptics had a negative net margin of 11.30% and a negative return on equity of 0.90%. Synaptics’s revenue was down 27.3% compared to the same quarter last year. During the same period last year, the business earned $1.14 earnings per share. As a group, equities research analysts expect that Synaptics Incorporated will post -0.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Peregrine Capital Management LLC raised its position in Synaptics by 1.3% in the second quarter. Peregrine Capital Management LLC now owns 65,739 shares of the software maker’s stock valued at $5,798,000 after purchasing an additional 860 shares during the period. Innealta Capital LLC purchased a new stake in Synaptics in the 2nd quarter valued at about $83,000. F M Investments LLC acquired a new position in Synaptics in the second quarter valued at about $6,137,000. Panagora Asset Management Inc. lifted its position in Synaptics by 8.6% in the second quarter. Panagora Asset Management Inc. now owns 54,650 shares of the software maker’s stock valued at $4,820,000 after buying an additional 4,311 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Synaptics by 3.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,357 shares of the software maker’s stock worth $737,000 after buying an additional 299 shares during the period. 99.43% of the stock is currently owned by institutional investors and hedge funds.

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.