Synaptics (NASDAQ:SYNA) Shares Gap Down – Here’s What Happened

Synaptics Incorporated (NASDAQ:SYNA)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $85.05, but opened at $82.14. Synaptics shares last traded at $75.32, with a volume of 415,177 shares changing hands.

Wall Street Analyst Weigh In

SYNA has been the topic of a number of recent analyst reports. Craig Hallum raised shares of Synaptics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 29th. Rosenblatt Securities reissued a “buy” rating and set a $92.00 price target on shares of Synaptics in a research report on Tuesday. Susquehanna raised their price target on shares of Synaptics from $95.00 to $105.00 and gave the company a “positive” rating in a research report on Wednesday, January 22nd. TD Cowen raised their price target on shares of Synaptics from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Needham & Company LLC reissued a “buy” rating and set a $90.00 price target on shares of Synaptics in a research report on Tuesday. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $98.44.

Synaptics Stock Up 0.7 %

The company has a market capitalization of $3.06 billion, a PE ratio of 19.34 and a beta of 1.45. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.02 and a current ratio of 4.49. The stock’s 50 day moving average is $79.98 and its 200 day moving average is $77.39.

Insider Activity at Synaptics

In other Synaptics 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 value of $33,549.93. Following the sale, the insider now directly owns 40,795 shares in the company, valued at $3,330,095.85. This represents a 1.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Synaptics

Several institutional investors and hedge funds have recently bought and sold shares of SYNA. GAMMA Investing LLC lifted its stake in Synaptics by 261.8% in the 3rd quarter. GAMMA Investing LLC now owns 369 shares of the software maker’s stock worth $29,000 after purchasing an additional 267 shares in the last quarter. Quarry LP bought a new position in shares of Synaptics during the 3rd quarter valued at $31,000. CWM LLC grew its holdings in shares of Synaptics by 58.1% during the 3rd quarter. CWM LLC now owns 1,151 shares of the software maker’s stock valued at $89,000 after purchasing an additional 423 shares during the last quarter. Van ECK Associates Corp bought a new position in shares of Synaptics during the 3rd quarter valued at $132,000. Finally, KBC Group NV grew its holdings in shares of Synaptics by 87.4% during the 4th quarter. KBC Group NV now owns 1,795 shares of the software maker’s stock valued at $137,000 after purchasing an additional 837 shares during the last quarter. 99.43% of the stock is currently owned by hedge funds and other 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.