Synaptics’ (SYNA) “Underperform” Rating Reiterated at Oppenheimer Holdings, Inc.
Synaptics Incorporated (NASDAQ:SYNA)‘s stock had its “underperform” rating reaffirmed by stock analysts at Oppenheimer Holdings, Inc. in a report released on Thursday. They presently have a $35.00 price objective on the software maker’s stock. Oppenheimer Holdings, Inc.’s target price points to a potential downside of 14.32% from the company’s previous close.
Several other brokerages have also commented on SYNA. Needham & Company LLC restated a “buy” rating and issued a $65.00 price objective on shares of Synaptics in a report on Friday, June 9th. BidaskClub upgraded shares of Synaptics from a “hold” rating to a “buy” rating in a report on Saturday, June 10th. Cowen and Company set a $75.00 price objective on shares of Synaptics and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Zacks Investment Research lowered shares of Synaptics from a “hold” rating to a “sell” rating in a report on Thursday, June 29th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $70.00 price objective on shares of Synaptics in a report on Monday, June 26th. Seven equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $54.09.
Shares of Synaptics (NASDAQ SYNA) traded down 1.27% during mid-day trading on Thursday, reaching $40.33. The company’s stock had a trading volume of 416,031 shares. The company has a 50-day moving average of $43.84 and a 200-day moving average of $50.92. Synaptics has a 12 month low of $37.39 and a 12 month high of $69.45. The company has a market cap of $1.36 billion, a P/E ratio of 29.44 and a beta of 1.14.
Synaptics (NASDAQ:SYNA) last issued its quarterly earnings data on Thursday, August 3rd. The software maker reported $0.85 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.11. Synaptics had a net margin of 2.84% and a return on equity of 16.51%. The business had revenue of $426.50 million during the quarter, compared to analyst estimates of $426.49 million. During the same period last year, the business posted $0.46 earnings per share. Synaptics’s quarterly revenue was up 31.7% compared to the same quarter last year. Equities research analysts forecast that Synaptics will post $4.61 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Harbour Capital Advisors LLC bought a new stake in shares of Synaptics during the first quarter valued at approximately $104,000. Highlander Capital Management LLC bought a new stake in shares of Synaptics during the second quarter valued at approximately $104,000. Riverhead Capital Management LLC increased its position in shares of Synaptics by 95.0% during the second quarter. Riverhead Capital Management LLC now owns 2,730 shares of the software maker’s stock valued at $141,000 after acquiring an additional 1,330 shares in the last quarter. LS Investment Advisors LLC increased its position in shares of Synaptics by 17.9% during the second quarter. LS Investment Advisors LLC now owns 2,775 shares of the software maker’s stock valued at $143,000 after acquiring an additional 421 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Synaptics by 51.0% during the second quarter. PNC Financial Services Group Inc. now owns 2,806 shares of the software maker’s stock valued at $145,000 after acquiring an additional 948 shares in the last quarter. 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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