Insider Selling: Synaptics, CEO Sells 11,250 Shares of Stock (SYNA)
Synaptics, (NASDAQ:SYNA) CEO Rick Bergman unloaded 11,250 shares of the stock on the open market in a transaction dated Monday, August 11th. The stock was sold at an average price of $82.33, for a total value of $926,212.50. Following the completion of the sale, the chief executive officer now directly owns 29,486 shares of the company’s stock, valued at approximately $2,427,582. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Synaptics, (NASDAQ:SYNA) traded up 0.84% during mid-day trading on Wednesday, hitting $80.51. 615,305 shares of the company’s stock traded hands. Synaptics, has a one year low of $37.87 and a one year high of $93.27. The stock has a 50-day moving average of $83.66 and a 200-day moving average of $68.93. The company has a market cap of $2.968 billion and a price-to-earnings ratio of 63.37.
Synaptics, (NASDAQ:SYNA) last posted its quarterly earnings results on Thursday, July 31st. The company reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.04. The company had revenue of $315.00 million for the quarter, compared to the consensus estimate of $305.07 million. During the same quarter in the previous year, the company posted $1.39 earnings per share. The company’s revenue for the quarter was up 36.8% on a year-over-year basis. Analysts expect that Synaptics, will post $4.87 EPS for the current fiscal year.
A number of research firms have recently commented on SYNA. Analysts at Zacks downgraded shares of Synaptics, from an “outperform” rating to a “neutral” rating in a research note on Wednesday. They now have a $96.30 price target on the stock. Separately, analysts at Craig Hallum raised their price target on shares of Synaptics, to $96.00 in a research note on Friday, August 1st. Finally, analysts at Needham & Company LLC downgraded shares of Synaptics, from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $85.66.
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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