Synaptics, Downgraded by ISI Group to Strong Sell (SYNA)
The analysts wrote, “reduced” levels. The analyst reported that Synaptics is a leader in display integration technology. Tigress added that the Renasas acquisition will aid in the company’s product development and “allow the company to gain an important competitive supply advantage with an integrated touchscreen and display driver (DDI) driver platform.”
Shares of Synaptics, (NASDAQ:SYNA) traded up 0.26% during mid-day trading on Friday, hitting $88.61. 400,096 shares of the company’s stock traded hands. Synaptics, has a 1-year low of $37.87 and a 1-year high of $93.27. The stock has a 50-day moving average of $80.01 and a 200-day moving average of $64.46. The company has a market cap of $3.192 billion and a P/E ratio of 55.69. Synaptics, also was the target of a significant decrease in short interest in June. As of June 30th, there was short interest totalling 4,787,831 shares, a decrease of 47.3% from the June 13th total of 9,093,430 shares. Currently, 13.4% of the company’s stock are short sold. Based on an average trading volume of 969,277 shares, the short-interest ratio is currently 4.9 days.
Synaptics, (NASDAQ:SYNA) last posted its quarterly 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 $4.17 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on SYNA. Analysts at Tigress Financial downgraded shares of Synaptics, from a “strong-buy” rating to a “buy” rating in a research note on Friday. Separately, analysts at Sterne Agee raised their price target on shares of Synaptics, from $83.00 to $105.00 in a research note on Thursday, June 19th. They now have a “buy” rating on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Synaptics, from $86.00 to $98.00 in a research note on Friday, June 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $83.10.
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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