Synaptics (NASDAQ:SYNA) Raised to “Strong-Buy” at Craig Hallum

Synaptics (NASDAQ:SYNAGet Free Report) was upgraded by equities researchers at Craig Hallum from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other equities research analysts have also recently weighed in on SYNA. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of Synaptics in a report on Wednesday. TD Cowen raised their price target on Synaptics from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Rosenblatt Securities reduced their price objective 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. Susquehanna lifted their target price on shares of Synaptics from $95.00 to $105.00 and gave the company a “positive” rating in a research note on Wednesday, January 22nd. Finally, KeyCorp lowered shares of Synaptics from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Synaptics presently has an average rating of “Moderate Buy” and an average target price of $98.44.

View Our Latest Stock Report on SYNA

Synaptics Stock Performance

Shares of NASDAQ:SYNA opened at $86.16 on Wednesday. The company has a current ratio of 4.49, a quick ratio of 4.02 and a debt-to-equity ratio of 0.66. The company has a market cap of $3.45 billion, a price-to-earnings ratio of 21.81 and a beta of 1.44. Synaptics has a 12 month low of $67.83 and a 12 month high of $115.85. The company has a 50-day moving average price of $79.90 and a 200-day moving average price of $77.85.

Insider Activity

In other news, insider Vikram Gupta sold 411 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $81.63, for a total transaction of $33,549.93. Following the sale, the insider now owns 40,795 shares in the company, valued at $3,330,095.85. This represents a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC lifted 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 during the period. Quarry LP purchased a new position in shares of Synaptics in the 3rd quarter worth $31,000. CWM LLC grew its holdings in shares of Synaptics by 58.1% in the third quarter. CWM LLC now owns 1,151 shares of the software maker’s stock worth $89,000 after acquiring an additional 423 shares during the period. Van ECK Associates Corp purchased a new stake in Synaptics during the third quarter valued at $132,000. Finally, KBC Group NV lifted its holdings in Synaptics by 87.4% in the fourth quarter. KBC Group NV now owns 1,795 shares of the software maker’s stock valued at $137,000 after acquiring an additional 837 shares during the period. 99.43% of the stock is owned by institutional investors.

Synaptics Company Profile

(Get Free Report)

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.

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