Synaptics, Trading Down 3.5% After Insider Selling (SYNA)
Synaptics, (NASDAQ:SYNA) traded down 3.5% during mid-day trading on Wednesday following insider selling activity, AnalystRatingsNetwork reports. The company traded as low as $81.75 and last traded at $82.69, with a volume of 739,645 shares traded. The stock had previously closed at $85.73.
Specifically, SVP Scott Deutsch unloaded 1,273 shares of the company’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $79.56, for a total transaction of $101,279.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of analysts have recently weighed in on SYNA shares. Analysts at Zacks downgraded shares of Synaptics, from an “outperform” rating to a “neutral” rating in a research note on Wednesday, August 13th. 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 equities research analyst has rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Synaptics, presently has a consensus rating of “Buy” and an average target price of $85.66.
The stock has a 50-day moving average of $80.23 and a 200-day moving average of $71.22. The company has a market cap of $3.035 billion and a price-to-earnings ratio of 68.04.
Synaptics, (NASDAQ:SYNA) last released its earnings data on Thursday, July 31st. The company reported $1.46 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $1.39 earnings per share. The company’s quarterly revenue was up 36.8% on a year-over-year basis. Analysts expect that Synaptics, will post $4.94 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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