Synaptics Incorporated (NASDAQ:SYNA) Receives $97.33 Consensus Target Price from Analysts

Synaptics Incorporated (NASDAQ:SYNA) has been given a consensus recommendation of “Moderate Buy” by the nine research firms that are presently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $97.33.

Several equities research analysts have recently weighed in on the company. TD Cowen upped their price target on Synaptics from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Needham & Company LLC lowered their price objective on shares of Synaptics from $95.00 to $90.00 and set a “buy” rating for the company in a report on Friday, November 8th. Susquehanna dropped their target price on Synaptics from $110.00 to $95.00 and set a “positive” rating for the company in a report on Monday, October 21st. Rosenblatt Securities decreased 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. Finally, KeyCorp cut shares of Synaptics from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th.

Synaptics Price Performance

Synaptics stock opened at $78.59 on Friday. The business’s 50 day simple moving average is $77.34 and its 200 day simple moving average is $78.47. Synaptics has a 12 month low of $67.83 and a 12 month high of $115.85. The company has a market cap of $3.15 billion, a price-to-earnings ratio of 19.90 and a beta of 1.44. The company has a current ratio of 4.49, a quick ratio of 4.02 and a debt-to-equity ratio of 0.66.

Insider Activity at Synaptics

In other Synaptics news, insider Vikram Gupta sold 411 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $81.63, for a total value of $33,549.93. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 made changes to their positions in the stock. Barclays PLC grew its holdings in shares of Synaptics by 189.7% during the 3rd quarter. Barclays PLC now owns 81,330 shares of the software maker’s stock worth $6,309,000 after purchasing an additional 53,252 shares during the period. XTX Topco Ltd acquired a new position in shares of Synaptics in the third quarter worth $227,000. iSAM Funds UK Ltd purchased a new position in Synaptics in the third quarter valued at $422,000. Quarry LP acquired a new position in Synaptics during the 3rd quarter worth $31,000. Finally, Petrus Trust Company LTA purchased a new stake in Synaptics during the 3rd quarter worth about $844,000. Institutional investors and hedge funds 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.