Synaptics Incorporated (SYNA) Given a $60.00 Price Target at Cowen and Company
Synaptics Incorporated (NASDAQ:SYNA) has been assigned a $60.00 price objective by analysts at Cowen and Company in a research report issued to clients and investors on Wednesday. The firm currently has a “buy” rating on the software maker’s stock. Cowen and Company’s price objective would indicate a potential upside of 59.07% from the stock’s current price.
Several other research analysts also recently commented on SYNA. BMO Capital Markets dropped their price target on Synaptics from $56.00 to $46.00 and set a “market perform” rating on the stock in a research report on Friday, August 4th. BidaskClub downgraded Synaptics from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Oppenheimer Holdings, Inc. dropped their price target on Synaptics from $45.00 to $35.00 and set an “underperform” rating on the stock in a research report on Tuesday, August 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 price target (down from $65.00) on shares of Synaptics in a research report on Friday, August 4th. Finally, Citigroup Inc. reaffirmed an “underperform” rating and issued a $35.00 price target (down from $45.00) on shares of Synaptics in a research report on Tuesday, August 22nd. Seven equities research analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $51.16.
Synaptics (NASDAQ SYNA) traded up 1.75% during trading on Wednesday, hitting $37.72. The stock had a trading volume of 777,588 shares. Synaptics has a 52 week low of $36.36 and a 52 week high of $69.45. The firm has a market cap of $1.27 billion, a PE ratio of 27.53 and a beta of 1.20. The company’s 50-day moving average is $39.35 and its 200 day moving average is $49.04.
Synaptics (NASDAQ:SYNA) last issued its quarterly earnings results 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. The company had revenue of $426.50 million for the quarter, compared to the consensus estimate of $426.49 million. Synaptics had a return on equity of 16.51% and a net margin of 2.84%. The company’s revenue for the quarter was up 31.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.46 EPS. Equities analysts expect that Synaptics will post $4.48 EPS for the current fiscal year.
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Hedge funds have recently made changes to their positions in the stock. Harbour Capital Advisors LLC acquired a new stake in Synaptics in the 1st quarter valued at $104,000. Highlander Capital Management LLC acquired a new stake in Synaptics in the 2nd quarter valued at $104,000. Riverhead Capital Management LLC boosted its stake in Synaptics by 95.0% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,730 shares of the software maker’s stock valued at $141,000 after buying an additional 1,330 shares in the last quarter. LS Investment Advisors LLC boosted its stake in Synaptics by 17.9% in the 2nd quarter. LS Investment Advisors LLC now owns 2,775 shares of the software maker’s stock valued at $143,000 after buying an additional 421 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Synaptics by 51.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,806 shares of the software maker’s stock valued at $145,000 after buying an additional 948 shares in the last quarter. 97.74% of the stock is currently owned by institutional investors and hedge funds.
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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