Synaptics (NASDAQ:SYNA) Shares Gap Up – What’s Next?

Shares of Synaptics Incorporated (NASDAQ:SYNA) gapped up prior to trading on Thursday . The stock had previously closed at $76.32, but opened at $79.88. Synaptics shares last traded at $81.06, with a volume of 144,928 shares changing hands.

Analyst Ratings Changes

Several research analysts recently issued reports on SYNA shares. Susquehanna dropped their price target on shares of Synaptics from $110.00 to $95.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Needham & Company LLC lowered their target price on shares of Synaptics from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Rosenblatt Securities reduced their price target on shares of Synaptics from $130.00 to $92.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. TD Cowen lifted their target price on shares of Synaptics from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, KeyCorp lowered Synaptics from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Synaptics currently has an average rating of “Moderate Buy” and an average target price of $97.33.

Synaptics Price Performance

The business has a fifty day moving average of $76.54 and a two-hundred day moving average of $78.79. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of 20.53 and a beta of 1.45. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.02 and a current ratio of 4.49.

Insider Activity at Synaptics

In other Synaptics news, insider Vikram Gupta sold 411 shares of Synaptics stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $81.63, for a total value of $33,549.93. Following the completion of the sale, the insider now owns 40,795 shares in the company, valued at $3,330,095.85. The trade was a 1.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Synaptics

A number of institutional investors and hedge funds have recently made changes to their positions in SYNA. GAMMA Investing LLC raised its position in Synaptics by 261.8% during the third quarter. GAMMA Investing LLC now owns 369 shares of the software maker’s stock valued at $29,000 after purchasing an additional 267 shares in the last quarter. Quarry LP acquired a new position in shares of Synaptics during the 3rd quarter worth $31,000. CWM LLC lifted its position in shares of Synaptics by 58.1% during the 3rd quarter. CWM LLC now owns 1,151 shares of the software maker’s stock worth $89,000 after buying an additional 423 shares during the last quarter. Van ECK Associates Corp acquired a new stake in Synaptics in the third quarter valued at about $132,000. Finally, nVerses Capital LLC grew its position in Synaptics by 75.0% in the third quarter. nVerses Capital LLC now owns 2,800 shares of the software maker’s stock valued at $217,000 after acquiring an additional 1,200 shares during the last quarter. Institutional investors 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.