Synaptics Upgraded to “Strong-Buy” at Needham & Company LLC (SYNA)
Synaptics (NASDAQ:SYNA) was upgraded by investment analysts at Needham & Company LLC from a “buy” rating to a “strong-buy” rating in a note issued to investors on Friday, AnalystRatingsNetwork.com reports. The firm currently has a $100.00 target price on the stock, up from their previous target price of $70.00. Needham & Company LLC’s target price indicates a potential upside of 56.23% from the company’s current price.
In other Synaptics news, Director Francis Lee sold 10,000 shares of the stock on the open market in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $65.00, for a total value of $650,000.00. Following the completion of the transaction, the director now directly owns 1,881 shares of the company’s stock, valued at approximately $122,265. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Synaptics (NASDAQ:SYNA) opened at 64.01 on Friday. Synaptics has a 1-year low of $34.98 and a 1-year high of $67.71. The stock has a 50-day moving average of $61.11 and a 200-day moving average of $55.1. The company has a market cap of $2.277 billion and a P/E ratio of 16.79.
Synaptics (NASDAQ:SYNA) last announced its earnings results on Thursday, April 24th. The company reported $0.63 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.57 by $0.06. The company had revenue of $204.30 million for the quarter, compared to the consensus estimate of $192.03 million. During the same quarter in the prior year, the company posted $0.79 earnings per share. The company’s quarterly revenue was up 25.1% on a year-over-year basis. On average, analysts predict that Synaptics will post $3.69 earnings per share for the current fiscal year.
SYNA has been the subject of a number of other recent research reports. Analysts at Craig Hallum raised their price target on shares of Synaptics to $80.00 in a research note on Friday. Separately, analysts at Stifel Nicolaus raised their price target on shares of Synaptics from $70.00 to $83.00 in a research note on Friday. They now have a “buy” rating on the stock. Finally, analysts at Sterne Agee initiated coverage on shares of Synaptics in a research note on Monday. They set a “buy” rating and a $77.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Synaptics currently has a consensus rating of “Buy” and a consensus price target of $73.94.
Synaptics Incorporated is a developer and supplier of custom-designed human interface solutions that enable people to interact with a range of mobile computing, communications, entertainment, and other electronic devices.
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