Synaptics Incorporated (SYNA) Upgraded by Craig Hallum to Buy
Synaptics Incorporated (NASDAQ:SYNA) was upgraded by Craig Hallum from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, MarketBeat.com reports. The brokerage currently has a $55.00 price objective on the software maker’s stock, down from their prior price objective of $62.00. Craig Hallum’s price target would indicate a potential upside of 21.36% from the company’s previous close.
SYNA has been the subject of a number of other reports. Needham & Company LLC increased their price target on Synaptics from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Vetr upgraded Synaptics from a “hold” rating to a “buy” rating and set a $57.50 price target for the company in a report on Wednesday, May 17th. BidaskClub upgraded Synaptics from a “hold” rating to a “buy” rating in a report on Saturday, June 10th. Stifel Nicolaus reiterated a “buy” rating and set a $68.00 price target on shares of Synaptics in a report on Friday, July 28th. Finally, Cowen and Company set a $75.00 price target on Synaptics and gave the stock a “buy” rating in a report on Wednesday. Seven investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. Synaptics presently has an average rating of “Hold” and an average target price of $58.10.
Synaptics (NASDAQ:SYNA) traded down 10.33% on Friday, reaching $45.32. The company’s stock had a trading volume of 4,200,901 shares. The firm’s 50-day moving average price is $54.09 and its 200-day moving average price is $54.00. Synaptics has a 52-week low of $44.92 and a 52-week high of $69.45. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 68.25 and a beta of 1.13.
Synaptics (NASDAQ:SYNA) last issued its quarterly earnings results on Thursday, August 3rd. The software maker reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.11. Synaptics had a return on equity of 16.67% and a net margin of 2.84%. The firm had revenue of $426.50 million during the quarter, compared to the consensus estimate of $426.49 million. During the same period last year, the business posted $0.46 EPS. The business’s revenue was up 31.7% compared to the same quarter last year. On average, equities analysts expect that Synaptics will post $5.09 earnings per share for the current year.
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In other Synaptics news, insider Rick Bergman sold 10,000 shares of Synaptics stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $55.61, for a total transaction of $556,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey D. Buchanan sold 9,375 shares of Synaptics stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $55.92, for a total value of $524,250.00. Following the transaction, the director now owns 16,166 shares of the company’s stock, valued at approximately $904,002.72. The disclosure for this sale can be found here. Insiders have sold a total of 39,930 shares of company stock valued at $2,212,446 in the last quarter. Company insiders own 3.60% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Profit Investment Management LLC increased its position in Synaptics by 31.4% in the first quarter. Profit Investment Management LLC now owns 19,964 shares of the software maker’s stock worth $988,000 after buying an additional 4,769 shares during the period. Cardinal Capital Management increased its position in Synaptics by 2.0% in the first quarter. Cardinal Capital Management now owns 14,906 shares of the software maker’s stock worth $738,000 after buying an additional 286 shares during the period. Acadian Asset Management LLC increased its position in Synaptics by 54,423.5% in the first quarter. Acadian Asset Management LLC now owns 9,269 shares of the software maker’s stock worth $459,000 after buying an additional 9,252 shares during the period. Retirement Systems of Alabama increased its position in Synaptics by 1.3% in the first quarter. Retirement Systems of Alabama now owns 45,648 shares of the software maker’s stock worth $2,260,000 after buying an additional 580 shares during the period. Finally, West Coast Financial LLC increased its position in Synaptics by 37.3% in the first quarter. West Coast Financial LLC now owns 87,304 shares of the software maker’s stock worth $4,322,000 after buying an additional 23,739 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.
Synaptics Company Profile
Synaptics Incorporated is engaged in the development, marketing and sale of intuitive human interface solutions for electronic devices and products. The Company is a developer and supplier of custom-designed human interface product solutions that enable people to interact with a range of mobile computing, communications, entertainment and other electronic devices.
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