Stifel Nicolaus Cuts Synaptics (SYNA) Price Target to $57.00

Synaptics (NASDAQ:SYNA) had its price objective lowered by equities researchers at Stifel Nicolaus from $59.00 to $57.00 in a research report issued on Thursday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the software maker’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 29.40% from the company’s current price.

A number of other brokerages have also recently commented on SYNA. Cowen set a $60.00 price target on Synaptics and gave the stock a “buy” rating in a research report on Wednesday, October 11th. Needham & Company LLC restated a “buy” rating and issued a $55.00 price target on shares of Synaptics in a research report on Wednesday, December 13th. Rosenblatt Securities cut Synaptics from a “buy” rating to a “neutral” rating and set a $36.00 price target for the company. in a research report on Friday, November 3rd. KeyCorp restated a “hold” rating on shares of Synaptics in a research report on Sunday, November 19th. Finally, Oppenheimer upgraded Synaptics from an “underperform” rating to a “market perform” rating in a research report on Friday, December 8th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. Synaptics has a consensus rating of “Hold” and an average price target of $47.63.

Shares of Synaptics (SYNA) traded up $0.10 on Thursday, reaching $44.05. The company’s stock had a trading volume of 1,346,012 shares, compared to its average volume of 1,147,086. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.70 and a current ratio of 2.36. The stock has a market capitalization of $1,519.68, a PE ratio of -17.14, a price-to-earnings-growth ratio of 1.05 and a beta of 1.12. Synaptics has a fifty-two week low of $33.73 and a fifty-two week high of $64.54.

Synaptics (NASDAQ:SYNA) last issued its quarterly earnings results on Wednesday, February 7th. The software maker reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.03. The business had revenue of $430.40 million during the quarter, compared to analysts’ expectations of $430.59 million. Synaptics had a positive return on equity of 13.70% and a negative net margin of 5.04%. The business’s quarterly revenue was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.49 earnings per share. equities research analysts forecast that Synaptics will post 2.8 EPS for the current year.

In related news, CEO Rick Bergman sold 20,000 shares of the stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $50.00, for a total transaction of $1,000,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 22,100 shares of company stock valued at $1,085,000 in the last quarter. 3.70% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in SYNA. Koch Industries Inc. purchased a new stake in shares of Synaptics during the second quarter worth about $551,000. Prudential Financial Inc. grew its position in shares of Synaptics by 298.7% during the third quarter. Prudential Financial Inc. now owns 718,646 shares of the software maker’s stock worth $28,157,000 after purchasing an additional 538,396 shares in the last quarter. Schroder Investment Management Group grew its position in shares of Synaptics by 2,792.0% during the fourth quarter. Schroder Investment Management Group now owns 356,784 shares of the software maker’s stock worth $14,250,000 after purchasing an additional 344,447 shares in the last quarter. State of Tennessee Treasury Department grew its position in shares of Synaptics by 35.3% during the third quarter. State of Tennessee Treasury Department now owns 1,232,000 shares of the software maker’s stock worth $48,270,000 after purchasing an additional 321,537 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Synaptics by 11.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,214,796 shares of the software maker’s stock valued at $47,596,000 after buying an additional 125,826 shares in the last quarter. Hedge funds and other institutional investors own 97.74% of the company’s stock.

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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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