Synaptics Incorporated (NASDAQ:SYNA) was downgraded by Rosenblatt Securities from a “buy” rating to a “neutral” rating in a research report issued on Friday.

SYNA has been the topic of a number of other research reports. Needham & Company LLC reissued a “buy” rating and issued a $55.00 price target (down previously from $65.00) on shares of Synaptics in a report on Friday, August 4th. CIBC reaffirmed an “underperform” rating and set a $35.00 target price (down previously from $45.00) on shares of Synaptics in a report on Tuesday, August 22nd. Zacks Investment Research cut shares of Synaptics from a “buy” rating to a “hold” rating in a research report on Tuesday, October 24th. BidaskClub cut shares of Synaptics from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Finally, Craig Hallum raised shares of Synaptics from a “hold” rating to a “buy” rating and dropped their price target for the company from $62.00 to $55.00 in a research report on Friday, August 4th. Seven analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $51.26.

Synaptics (NASDAQ:SYNA) last posted its quarterly earnings results on Thursday, August 3rd. The software maker reported $0.85 earnings per share for the quarter, beating the 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 firm had revenue of $426.50 million during the quarter, compared to the consensus estimate of $426.49 million. During the same period in the previous year, the firm posted $0.46 earnings per share. The business’s revenue was up 31.7% compared to the same quarter last year.

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Hedge funds have recently added to or reduced their stakes in the company. Highlander Capital Management LLC purchased a new position in shares of Synaptics in the second quarter worth $104,000. Victory Capital Management Inc. bought a new stake in Synaptics in the third quarter worth $120,000. Riverhead Capital Management LLC increased its position in Synaptics by 95.0% in the second quarter. Riverhead Capital Management LLC now owns 2,730 shares of the software maker’s stock worth $141,000 after purchasing an additional 1,330 shares during the last quarter. LS Investment Advisors LLC increased its position in 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 during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake 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 purchasing an additional 948 shares during the period. 97.74% of the stock is currently owned by hedge funds and other 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.

Analyst Recommendations for Synaptics (NASDAQ:SYNA)

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