Synaptics Incorporated (SYNA) Receives Average Recommendation of “Hold” from Analysts
Shares of Synaptics Incorporated (NASDAQ:SYNA) have been assigned an average recommendation of “Hold” from the nineteen research firms that are currently covering the firm, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $54.09.
Several equities research analysts have recently issued reports on SYNA shares. Vetr upgraded shares of Synaptics from a “hold” rating to a “buy” rating and set a $57.50 price objective on the stock in a research note on Wednesday, May 17th. Zacks Investment Research downgraded shares of Synaptics from a “hold” rating to a “sell” rating in a research note on Thursday, June 29th. BidaskClub upgraded shares of Synaptics from a “sell” rating to a “hold” rating in a research note on Sunday, July 16th. KeyCorp restated a “hold” rating on shares of Synaptics in a research note on Wednesday. Finally, Rosenblatt Securities restated a “buy” rating and issued a $70.00 price objective on shares of Synaptics in a research note on Monday, June 26th.
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Synaptics (SYNA) traded up 0.50% during mid-day trading on Wednesday, reaching $38.11. 1,782,562 shares of the company traded hands. The company has a market capitalization of $1.28 billion, a P/E ratio of 27.82 and a beta of 1.14. Synaptics has a 52-week low of $37.39 and a 52-week high of $69.45. The stock has a 50 day moving average price of $44.62 and a 200-day moving average price of $51.24.
Synaptics (NASDAQ:SYNA) last announced its quarterly earnings data on Thursday, August 3rd. The software maker reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.11. The business had revenue of $426.50 million for the quarter, compared to the consensus estimate of $426.49 million. Synaptics had a net margin of 2.84% and a return on equity of 16.51%. Synaptics’s quarterly revenue was up 31.7% on a year-over-year basis. During the same quarter last year, the company posted $0.46 earnings per share. Analysts expect that Synaptics will post $4.61 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of the business. Ameriprise Financial Inc. lifted its holdings in shares of Synaptics by 16.0% during the second quarter. Ameriprise Financial Inc. now owns 5,048,535 shares of the software maker’s stock valued at $261,064,000 after acquiring an additional 697,328 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Synaptics by 2.7% during the second quarter. Vanguard Group Inc. now owns 4,228,015 shares of the software maker’s stock valued at $218,630,000 after acquiring an additional 110,567 shares during the period. BlackRock Inc. lifted its holdings in shares of Synaptics by 23,834.7% during the first quarter. BlackRock Inc. now owns 4,199,575 shares of the software maker’s stock valued at $207,921,000 after acquiring an additional 4,182,029 shares during the period. State Street Corp lifted its holdings in shares of Synaptics by 0.6% during the second quarter. State Street Corp now owns 1,313,469 shares of the software maker’s stock valued at $67,921,000 after acquiring an additional 8,390 shares during the period. Finally, Lord Abbett & CO. LLC lifted its holdings in shares of Synaptics by 2.3% during the second quarter. Lord Abbett & CO. LLC now owns 1,244,747 shares of the software maker’s stock valued at $64,366,000 after acquiring an additional 27,878 shares during the period. 97.74% of the stock is owned by institutional investors.
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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