Synaptics, Trading Up 25.8% After Analyst Upgrade (SYNA)
Synaptics, (NASDAQ:SYNA)’s share price shot up 25.8% during mid-day trading on Wednesday after Zacks upgraded the stock from a neutral rating to an outperform rating, Stock Ratings Network.com reports. Zacks now has a $69.20 price target on the stock. Synaptics, traded as high as $86.70 and last traded at $83.67, with a volume of 7,481,217 shares traded. The stock had previously closed at $66.52.
SYNA has been the subject of a number of other recent research reports. Analysts at Dougherty & Co raised their price target on shares of Synaptics, to $96.00 in a research note on Wednesday. Separately, analysts at ISI Group raised their price target on shares of Synaptics, to $90.00 in a research note on Wednesday. They now have a “positive” rating on the stock. Finally, analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Synaptics, in a research note on Wednesday. They now have a $86.00 price target on the stock, up previously from $83.00. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. Synaptics, presently has an average rating of “Buy” and an average price target of $78.73.
In other Synaptics, news, Director Russell J. Knittel sold 15,000 shares of the company’s stock on the open market in a transaction dated Monday, June 9th. The stock was sold at an average price of $68.97, for a total value of $1,034,550.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
The stock has a 50-day moving average of $62.47 and a 200-day moving average of $58.5. The company has a market cap of $3.020 billion and a price-to-earnings ratio of 41.92.
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. Analysts expect that Synaptics, will post $4.05 EPS for the current fiscal year.
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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