Synaptics (NASDAQ:SYNA) Price Target Cut to $92.00 by Analysts at Rosenblatt Securities

Synaptics (NASDAQ:SYNA) had its price objective lowered by analysts at Rosenblatt Securities from $130.00 to $92.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the software maker’s stock. Rosenblatt Securities’ price objective points to a potential upside of 13.73% from the stock’s previous close.

Several other brokerages have also recently commented on SYNA. Susquehanna decreased their price objective on shares of Synaptics from $110.00 to $95.00 and set a “positive” rating for the company in a research note on Monday, October 21st. Needham & Company LLC reduced their price objective on shares of Synaptics from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday. JPMorgan Chase & Co. reduced their price objective on shares of Synaptics from $120.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. TD Cowen upped their target price on shares of Synaptics from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday. Finally, Craig Hallum dropped their target price on shares of Synaptics from $105.00 to $80.00 and set a “hold” rating for the company in a report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $97.33.

Synaptics Stock Up 8.4 %

Shares of Synaptics stock traded up $6.25 on Friday, reaching $80.89. The stock had a trading volume of 892,906 shares, compared to its average volume of 310,200. The company has a 50 day moving average price of $73.80 and a 200 day moving average price of $82.45. The company has a quick ratio of 3.78, a current ratio of 4.19 and a debt-to-equity ratio of 0.66. Synaptics has a 1 year low of $67.83 and a 1 year high of $121.37. The stock has a market capitalization of $3.23 billion, a P/E ratio of 26.09 and a beta of 1.47.

Synaptics (NASDAQ:SYNA) last released its earnings results on Thursday, August 8th. The software maker reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.09. The company had revenue of $247.40 million for the quarter, compared to the consensus estimate of $245.17 million. Synaptics had a net margin of 13.09% and a negative return on equity of 0.54%. Synaptics’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.01 EPS. As a group, equities research analysts forecast that Synaptics will post 0.81 EPS for the current year.

Insiders Place Their Bets

In other news, insider Vikram Gupta sold 1,008 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $80.00, for a total transaction of $80,640.00. Following the sale, the insider now owns 45,789 shares of the company’s stock, valued at approximately $3,663,120. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 5,609 shares of company stock valued at $448,720 over the last 90 days. 1.30% of the stock is owned by company insiders.

Institutional Trading of Synaptics

Hedge funds have recently made changes to their positions in the business. Heron Bay Capital Management raised its holdings in Synaptics by 1.3% in the first quarter. Heron Bay Capital Management now owns 9,197 shares of the software maker’s stock valued at $897,000 after acquiring an additional 116 shares in the last quarter. US Bancorp DE grew its position in Synaptics by 3.5% in the 1st quarter. US Bancorp DE now owns 3,603 shares of the software maker’s stock valued at $352,000 after buying an additional 123 shares during the last quarter. Russell Investments Group Ltd. grew its position in Synaptics by 0.3% in the 1st quarter. Russell Investments Group Ltd. now owns 48,665 shares of the software maker’s stock valued at $4,748,000 after buying an additional 163 shares during the last quarter. Choreo LLC lifted its holdings in Synaptics by 3.9% in the second quarter. Choreo LLC now owns 4,845 shares of the software maker’s stock valued at $417,000 after acquiring an additional 180 shares during the period. Finally, Arizona State Retirement System lifted its holdings in Synaptics by 2.1% in the second quarter. Arizona State Retirement System now owns 11,002 shares of the software maker’s stock valued at $970,000 after acquiring an additional 229 shares during the period. 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.