Synaptics (NASDAQ:SYNA – Get 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
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
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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