Synaptics Incorporated (NASDAQ:SYNA) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Synaptics Incorporated (NASDAQ:SYNA) have received a consensus recommendation of “Moderate Buy” from the nine analysts that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $97.33.

A number of equities research analysts have recently weighed in on the stock. Susquehanna reduced their price objective on shares of Synaptics from $110.00 to $95.00 and set a “positive” rating on the stock in a report on Monday, October 21st. KeyCorp lowered shares of Synaptics from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Needham & Company LLC reduced their price objective 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 objective on shares of Synaptics from $130.00 to $92.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Synaptics from $120.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, August 9th.

Synaptics Price Performance

Synaptics stock opened at $72.55 on Thursday. The firm has a market cap of $2.91 billion, a PE ratio of 18.37 and a beta of 1.47. Synaptics has a 52-week low of $67.83 and a 52-week high of $121.37. The company has a quick ratio of 4.02, a current ratio of 4.49 and a debt-to-equity ratio of 0.66. The company’s 50 day moving average is $73.99 and its two-hundred day moving average is $81.68.

Insiders Place Their Bets

In other Synaptics news, insider Vikram Gupta sold 1,008 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $80.00, for a total transaction of $80,640.00. Following the transaction, the insider now directly owns 45,789 shares of the company’s stock, valued at approximately $3,663,120. This trade represents a 2.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last three months, insiders have sold 5,609 shares of company stock valued at $448,720. Insiders own 1.30% of the company’s stock.

Institutional Trading of Synaptics

Several hedge funds and other institutional investors have recently made changes to their positions in SYNA. SG Americas Securities LLC boosted its holdings in shares of Synaptics by 28.8% in the first quarter. SG Americas Securities LLC now owns 2,847 shares of the software maker’s stock valued at $278,000 after acquiring an additional 637 shares in the last quarter. Swiss National Bank raised its position in Synaptics by 0.5% during the first quarter. Swiss National Bank now owns 77,400 shares of the software maker’s stock worth $7,551,000 after acquiring an additional 400 shares during the last quarter. Russell Investments Group Ltd. raised its position in Synaptics by 0.3% during the first quarter. Russell Investments Group Ltd. now owns 48,665 shares of the software maker’s stock worth $4,748,000 after acquiring an additional 163 shares during the last quarter. US Bancorp DE raised its position in Synaptics by 3.5% during the first quarter. US Bancorp DE now owns 3,603 shares of the software maker’s stock worth $352,000 after acquiring an additional 123 shares during the last quarter. Finally, ProShare Advisors LLC raised its position in Synaptics by 4.5% during the first quarter. ProShare Advisors LLC now owns 9,149 shares of the software maker’s stock worth $893,000 after acquiring an additional 396 shares during the last quarter. Hedge funds and other 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.