Synaptics (NASDAQ:SYNA) Price Target Raised to $100.00 at TD Cowen

Synaptics (NASDAQ:SYNA) had its target price raised by investment analysts at TD Cowen from $90.00 to $100.00 in a report released on Friday, MarketBeat reports. The brokerage presently has a “buy” rating on the software maker’s stock. TD Cowen’s price objective points to a potential upside of 23.58% from the company’s current price.

Several other research firms also recently weighed in on SYNA. Craig Hallum reduced their target price on Synaptics from $105.00 to $80.00 and set a “hold” rating for the company in a report on Friday, August 9th. Susquehanna cut their price target on Synaptics from $110.00 to $95.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Rosenblatt Securities reissued a “buy” rating and issued a $130.00 price objective on shares of Synaptics in a report on Thursday, October 31st. 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 research report on Friday, August 9th. Finally, KeyCorp cut shares of Synaptics from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Synaptics currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.33.

Synaptics Trading Up 8.4 %

NASDAQ SYNA opened at $80.92 on Friday. Synaptics has a 52 week low of $67.83 and a 52 week high of $121.37. The firm has a 50 day moving average of $73.79 and a two-hundred day moving average of $82.45. The stock has a market capitalization of $3.23 billion, a PE ratio of 20.49 and a beta of 1.47. 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 (NASDAQ:SYNA) last posted 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. Synaptics had a return on equity of 1.34% and a net margin of 16.14%. The firm had revenue of $247.40 million during the quarter, compared to analysts’ expectations of $245.17 million. During the same quarter in the previous year, the business earned $0.01 earnings per share. The firm’s revenue was up 8.8% compared to the same quarter last year. As a group, research analysts expect that Synaptics will post 0.72 EPS for the current fiscal year.

Insider Buying and Selling at Synaptics

In other news, insider Vikram Gupta sold 1,008 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $80.00, for a total value of $80,640.00. Following the completion of the sale, the insider now owns 45,789 shares in the company, valued at approximately $3,663,120. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have sold 5,609 shares of company stock valued at $448,720. 1.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in Synaptics by 261.8% during the 3rd 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 period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Synaptics during the second quarter worth $67,000. Innealta Capital LLC purchased a new position in Synaptics in the second quarter worth $83,000. CWM LLC lifted its holdings in Synaptics by 58.1% in the third quarter. CWM LLC now owns 1,151 shares of the software maker’s stock valued at $89,000 after acquiring an additional 423 shares during the period. Finally, nVerses Capital LLC purchased a new stake in shares of Synaptics during the 2nd quarter worth $141,000. 99.43% of the stock is owned by hedge funds and other institutional investors.

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.