Synaptics Incorporated (NASDAQ:SYNA) Insider Vikram Gupta Sells 1,870 Shares

Synaptics Incorporated (NASDAQ:SYNA) insider Vikram Gupta sold 1,870 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $80.00, for a total value of $149,600.00. Following the sale, the insider now owns 46,797 shares in the company, valued at approximately $3,743,760. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Vikram Gupta also recently made the following trade(s):

• On Thursday, June 27th, Vikram Gupta sold 257 shares of Synaptics stock. The stock was sold at an average price of $86.15, for a total transaction of $22,140.55.
• On Thursday, June 20th, Vikram Gupta sold 259 shares of Synaptics stock. The shares were sold at an average price of $90.00, for a total transaction of $23,310.00.
• On Thursday, June 13th, Vikram Gupta sold 258 shares of Synaptics stock. The stock was sold at an average price of $95.10, for a total transaction of $24,535.80.

Synaptics Stock Down 3.4 %

Shares of Synaptics stock opened at $77.99 on Thursday. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of -28.78 and a beta of 1.47. The stock has a 50-day simple moving average of $83.70 and a 200-day simple moving average of $91.36. Synaptics Incorporated has a 52-week low of $67.83 and a 52-week high of $121.37. 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 (NASDAQ:SYNA) last posted its earnings results on Thursday, August 8th. The software maker reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.09. The firm had revenue of $247.40 million during the quarter, compared to analysts’ expectations of $245.17 million. Synaptics had a net margin of 13.09% and a negative return on equity of 0.54%. The company’s revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.01 earnings per share. On average, equities research analysts expect that Synaptics Incorporated will post 0.72 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their target price on Synaptics from $120.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Craig Hallum reduced their price objective on Synaptics from $105.00 to $80.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Needham & Company LLC decreased their price objective on Synaptics from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, August 9th. TD Cowen dropped their target price on Synaptics from $115.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Wells Fargo & Company decreased their price target on shares of Synaptics from $115.00 to $95.00 and set an “equal weight” rating for the company in a report 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $105.44.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SYNA. CWM LLC increased its stake 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 purchasing an additional 139 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Synaptics during the 2nd quarter worth $67,000. Register Financial Advisors LLC acquired a new position in shares of Synaptics during the 1st quarter worth $76,000. Innealta Capital LLC acquired a new position in shares of Synaptics during the 2nd quarter worth $83,000. Finally, nVerses Capital LLC bought a new stake in shares of Synaptics during the 2nd quarter worth $141,000. 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.