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

Synaptics Incorporated (NASDAQ:SYNA) has been assigned a consensus rating of “Moderate Buy” from the nine ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $105.44.

A number of equities research analysts have commented on SYNA shares. Needham & Company LLC reduced their price target on shares of Synaptics from $110.00 to $95.00 and set a “buy” rating for the company in a report on Friday, August 9th. Craig Hallum reduced their target price on Synaptics from $105.00 to $80.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Wells Fargo & Company decreased their target price on Synaptics from $115.00 to $95.00 and set an “equal weight” rating for the company in a research report on Friday, May 10th. TD Cowen cut their price target on Synaptics from $115.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. reduced their price objective on Synaptics from $120.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, August 9th.

Insider Transactions at Synaptics

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 transaction, the insider now owns 45,789 shares of the company’s stock, valued at $3,663,120. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 3,652 shares of company stock valued at $300,226 over the last ninety days. 1.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Synaptics

Institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC grew its stake in shares of Synaptics by 26.0% in the 1st quarter. CWM LLC now owns 673 shares of the software maker’s stock worth $66,000 after acquiring an additional 139 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Synaptics during the second quarter worth about $67,000. Register Financial Advisors LLC bought a new stake in Synaptics in the 1st quarter worth about $76,000. Innealta Capital LLC purchased a new stake in Synaptics in the 2nd quarter valued at about $83,000. Finally, nVerses Capital LLC bought a new position in shares of Synaptics during the 2nd quarter worth approximately $141,000. 99.43% of the stock is owned by hedge funds and other institutional investors.

Synaptics Stock Up 2.3 %

Shares of NASDAQ:SYNA opened at $74.47 on Friday. Synaptics has a 1 year low of $67.83 and a 1 year 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. The business’s 50-day moving average is $82.77 and its 200-day moving average is $90.26. The company has a market capitalization of $2.94 billion, a price-to-earnings ratio of -27.48 and a beta of 1.47.

Synaptics (NASDAQ:SYNA) last issued its quarterly earnings results on Thursday, August 8th. The software maker reported $0.64 earnings per share (EPS) 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 revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.01 earnings per share. Equities research analysts predict that Synaptics will post 0.72 earnings per share for the current year.

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.