Synaptics (SYNA) Downgraded by JPMorgan Chase & Co.

Synaptics (NASDAQ:SYNA) was downgraded by stock analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued on Friday, The Fly reports.

Several other brokerages have also recently weighed in on SYNA. Zacks Investment Research upgraded Synaptics from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a report on Thursday. ValuEngine upgraded Synaptics from a “sell” rating to a “hold” rating in a report on Monday, January 28th. BidaskClub upgraded Synaptics from a “sell” rating to a “hold” rating in a report on Sunday, January 13th. Finally, Susquehanna Bancshares began coverage on Synaptics in a report on Friday, December 7th. They set a “neutral” rating and a $38.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $52.09.

NASDAQ:SYNA opened at $40.86 on Friday. Synaptics has a 12 month low of $33.54 and a 12 month high of $55.25. The company has a quick ratio of 1.93, a current ratio of 2.42 and a debt-to-equity ratio of 0.64. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 2.86 and a beta of 0.94.

Synaptics (NASDAQ:SYNA) last posted its quarterly earnings data on Thursday, February 7th. The software maker reported $1.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.20. Synaptics had a positive return on equity of 12.96% and a negative net margin of 5.75%. The company had revenue of $425.50 million during the quarter, compared to analyst estimates of $421.54 million. During the same period in the previous year, the business earned $1.11 EPS. Synaptics’s quarterly revenue was down 1.1% on a year-over-year basis. Equities research analysts forecast that Synaptics will post 2.92 earnings per share for the current year.

In related news, insider Kevin D. Barber sold 12,865 shares of the company’s stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $34.69, for a total value of $446,286.85. Following the transaction, the insider now directly owns 14,001 shares in the company, valued at $485,694.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.70% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SYNA. TRUE Private Wealth Advisors acquired a new position in Synaptics during the third quarter worth $103,000. BlueMountain Capital Management LLC acquired a new position in Synaptics during the third quarter worth $104,000. Dupont Capital Management Corp acquired a new position in Synaptics during the fourth quarter worth $151,000. Truvestments Capital LLC acquired a new position in Synaptics during the third quarter worth $156,000. Finally, PNC Financial Services Group Inc. lifted its stake in Synaptics by 83.4% during the third quarter. PNC Financial Services Group Inc. now owns 3,443 shares of the software maker’s stock worth $157,000 after purchasing an additional 1,566 shares in the last quarter. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Synaptics Company Profile

Synaptics Incorporated develops, markets, and sells intuitive human interface solutions for electronic devices and products worldwide. The company offers its products and solutions for smartphones, tablets, and touchscreen applications, as well as mobile, handheld, wireless, and entertainment devices; notebook applications; and other personal computer (PC) product applications.

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