Synaptics Inc. (SYNA) Upgraded to “Buy” at Mizuho
Synaptics Inc. (NASDAQ:SYNA) was upgraded by equities researchers at Mizuho from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Thursday, StockTargetPrices.com reports. The firm currently has a $74.00 price objective on the stock, up from their previous price objective of $58.00. Mizuho’s target price points to a potential upside of 12.53% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the company. KeyCorp reiterated a “hold” rating on shares of Synaptics in a research note on Wednesday, July 6th. Needham & Company LLC reiterated a “buy” rating and issued a $88.00 price target on shares of Synaptics in a research note on Friday, June 17th. TheStreet cut Synaptics from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. Craig Hallum decreased their price target on Synaptics from $85.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, July 29th. Finally, Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Synaptics in a research note on Wednesday, June 15th. Ten investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $76.83.
Synaptics (NASDAQ:SYNA) opened at 65.76 on Thursday. The stock has a market capitalization of $2.29 billion, a PE ratio of 34.43 and a beta of 1.76. Synaptics has a 52-week low of $47.09 and a 52-week high of $94.48. The stock’s 50 day moving average price is $59.09 and its 200-day moving average price is $62.38.
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Synaptics (NASDAQ:SYNA) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.46 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.46. Synaptics had a return on equity of 18.44% and a net margin of 4.33%. The firm earned $323.90 million during the quarter, compared to analysts’ expectations of $318.48 million. During the same period in the prior year, the business posted $1.57 EPS. The firm’s quarterly revenue was down 32.4% on a year-over-year basis. On average, equities analysts expect that Synaptics will post $5.18 EPS for the current fiscal year.
In other news, insider Ritu Favre sold 3,259 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $53.09, for a total value of $173,020.31. Following the transaction, the insider now owns 12,360 shares in the company, valued at $656,192.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP John Mcfarland sold 1,804 shares of the firm’s stock in a transaction that occurred on Thursday, October 6th. The shares were sold at an average price of $64.23, for a total value of $115,870.92. Following the completion of the transaction, the senior vice president now owns 7,726 shares in the company, valued at approximately $496,240.98. The disclosure for this sale can be found here. 3.60% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Sandy Spring Bank increased its position in Synaptics by 5.4% in the second quarter. Sandy Spring Bank now owns 1,950 shares of the company’s stock valued at $105,000 after buying an additional 100 shares during the period. Acrospire Investment Management LLC increased its position in Synaptics by 150.0% in the second quarter. Acrospire Investment Management LLC now owns 2,000 shares of the company’s stock valued at $108,000 after buying an additional 1,200 shares during the period. LS Investment Advisors LLC increased its position in Synaptics by 70.4% in the second quarter. LS Investment Advisors LLC now owns 2,178 shares of the company’s stock valued at $117,000 after buying an additional 900 shares during the period. Kempen Capital Management N.V. purchased a new position in Synaptics during the second quarter valued at $148,000. Finally, DIAM Co. Ltd. purchased a new position in Synaptics during the second quarter valued at $149,000. Institutional investors and hedge funds own 89.76% of the company’s stock.
Synaptics Company Profile
Synaptics Incorporated developer and supplier of custom-designed human interface solutions that enable people to interact more easily and intuitively with a wide variety of mobile computing, communications, entertainment, and other electronic devices. The portfolio includes Display Driver ICs (DDICs) which drive high-performance displays for smartphones and tablets.
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