Synaptics Incorporated (SYNA) Receives Average Recommendation of “Hold” from Analysts
Synaptics Incorporated (NASDAQ:SYNA) has been assigned an average rating of “Hold” from the seventeen brokerages that are covering the stock, MarketBeat.com reports. Seven research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $57.46.
SYNA has been the topic of a number of research reports. Vetr upgraded Synaptics from a “hold” rating to a “buy” rating and set a $57.50 price objective on the stock in a report on Monday, May 29th. Rosenblatt Securities restated a “buy” rating and issued a $70.00 price objective (down previously from $90.00) on shares of Synaptics in a report on Saturday, April 29th. Zacks Investment Research upgraded Synaptics from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a report on Saturday, April 22nd. Needham & Company LLC raised their price objective on Synaptics from $60.00 to $65.00 and gave the company a “buy” rating in a report on Friday, April 28th. Finally, BidaskClub upgraded Synaptics from a “hold” rating to a “buy” rating in a report on Saturday, June 10th.
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Shares of Synaptics (NASDAQ SYNA) traded up 1.56% during midday trading on Friday, reaching $40.90. 1,527,853 shares of the company traded hands. The stock has a 50 day moving average price of $51.80 and a 200 day moving average price of $53.47. Synaptics has a 1-year low of $39.89 and a 1-year high of $69.45. The firm has a market capitalization of $1.42 billion, a PE ratio of 29.85 and a beta of 1.13.
Synaptics (NASDAQ:SYNA) last announced its quarterly earnings data on Thursday, August 3rd. The software maker reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. The company had revenue of $426.50 million for the quarter, compared to analyst estimates of $426.49 million. Synaptics had a return on equity of 16.51% and a net margin of 2.84%. The firm’s revenue for the quarter was up 31.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.46 EPS. Analysts expect that Synaptics will post $4.60 earnings per share for the current fiscal year.
In other 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 value of $556,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 completion of 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. Company insiders own 3.60% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. OxFORD Asset Management LLP boosted its stake in Synaptics by 38.0% in the second quarter. OxFORD Asset Management LLP now owns 30,794 shares of the software maker’s stock valued at $1,592,000 after buying an additional 8,472 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Synaptics by 9.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,088,970 shares of the software maker’s stock valued at $56,312,000 after buying an additional 94,143 shares during the last quarter. Virtu KCG Holdings LLC acquired a new stake in Synaptics during the second quarter valued at $2,443,000. Parametric Portfolio Associates LLC boosted its stake in Synaptics by 200.3% in the second quarter. Parametric Portfolio Associates LLC now owns 89,025 shares of the software maker’s stock valued at $4,603,000 after buying an additional 59,379 shares during the last quarter. Finally, Glenview Trust Co acquired a new stake in Synaptics during the second quarter valued at $331,000. Hedge funds and other institutional investors 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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