Synaptics (NASDAQ:SYNA) Sets New 52-Week Low – What’s Next?

Shares of Synaptics Incorporated (NASDAQ:SYNA) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $66.76 and last traded at $67.40, with a volume of 66469 shares traded. The stock had previously closed at $68.03.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SYNA. Susquehanna boosted their price objective on Synaptics from $95.00 to $105.00 and gave the company a “positive” rating in a report on Wednesday, January 22nd. Needham & Company LLC restated a “buy” rating and set a $90.00 price target on shares of Synaptics in a report on Tuesday, February 4th. Craig Hallum raised Synaptics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 29th. Rosenblatt Securities reiterated a “buy” rating and set a $105.00 target price on shares of Synaptics in a research note on Thursday. Finally, TD Cowen increased their target price on shares of Synaptics from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $96.88.

Synaptics Stock Down 3.1 %

The business’s 50-day moving average price is $77.45 and its 200-day moving average price is $76.34. The company has a quick ratio of 3.36, a current ratio of 3.88 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $2.58 billion, a PE ratio of 15.63 and a beta of 1.45.

Insider Buying and Selling

In related news, insider Vikram Gupta sold 411 shares of the firm’s stock in a transaction on 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 transaction, the insider now directly owns 40,795 shares of the company’s stock, valued at approximately $3,330,095.85. This trade represents a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ken Rizvi bought 3,600 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was purchased at an average cost of $69.15 per share, for a total transaction of $248,940.00. Following the transaction, the insider now directly owns 27,630 shares of the company’s stock, valued at $1,910,614.50. The trade was a 14.98 % increase in their position. The disclosure for this purchase can be found here. 1.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SYNA. Quarry LP acquired a new position in shares of Synaptics during the third quarter valued at about $31,000. Brown Brothers Harriman & Co. bought a new position in Synaptics in the 4th quarter worth about $31,000. Aster Capital Management DIFC Ltd purchased a new stake in Synaptics in the 4th quarter worth approximately $43,000. Kayne Anderson Rudnick Investment Management LLC bought a new position in Synaptics in the 4th quarter worth about $72,000. Finally, Sterling Capital Management LLC lifted its position in Synaptics by 811.8% during the fourth quarter. Sterling Capital Management LLC now owns 1,158 shares of the software maker’s stock valued at $88,000 after purchasing an additional 1,031 shares during the last quarter. 99.43% of the stock is owned by institutional investors and hedge funds.

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.