Synaptics (NASDAQ:SYNA) Hits New 12-Month Low – What’s Next?

Synaptics Incorporated (NASDAQ:SYNA)’s stock price reached a new 52-week low on Thursday . The company traded as low as $53.53 and last traded at $54.11, with a volume of 258946 shares. The stock had previously closed at $63.67.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SYNA. Craig Hallum upgraded Synaptics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 29th. Mizuho reduced their price objective on Synaptics from $90.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, March 24th. Susquehanna lifted their target price on shares of Synaptics from $95.00 to $105.00 and gave the stock a “positive” rating in a research note on Wednesday, January 22nd. Rosenblatt Securities reiterated a “buy” rating and issued a $105.00 target price on shares of Synaptics in a research report on Thursday, February 27th. Finally, Needham & Company LLC restated a “buy” rating and set a $90.00 price target on shares of Synaptics in a research report on Tuesday, February 4th. Two 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 stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $95.00.

Synaptics Price Performance

The stock’s 50 day moving average is $70.02 and its two-hundred day moving average is $74.27. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.88 and a quick ratio of 3.36. The stock has a market capitalization of $2.04 billion, a PE ratio of 12.30 and a beta of 1.60.

Insider Activity at Synaptics

In related news, insider Ken Rizvi acquired 3,600 shares of Synaptics stock in a transaction dated Monday, February 10th. The stock was acquired at an average price of $69.15 per share, for a total transaction of $248,940.00. Following the transaction, the insider now owns 27,630 shares of the company’s stock, valued at $1,910,614.50. This represents a 14.98 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Synaptics

Several hedge funds and other institutional investors have recently bought and sold shares of SYNA. Brown Brothers Harriman & Co. purchased a new position in shares of Synaptics during the fourth quarter worth about $31,000. Quarry LP purchased a new stake in Synaptics in the third quarter valued at approximately $31,000. Menard Financial Group LLC acquired a new stake in shares of Synaptics in the fourth quarter valued at approximately $37,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Synaptics during the fourth quarter worth approximately $43,000. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new stake in Synaptics during the 4th quarter worth $72,000. 99.43% of the stock is currently owned by institutional investors and hedge funds.

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.