Synaptics (NASDAQ:SYNA) had its price target upped by stock analysts at Craig Hallum from $28.00 to $40.00 in a research report issued on Friday, Briefing.com Automated Import reports. The firm presently has a “hold” rating on the software maker’s stock. Craig Hallum’s target price would indicate a potential downside of 32.21% from the stock’s previous close.
Other equities research analysts have also issued research reports about the company. BidaskClub raised Synaptics from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Needham & Company LLC reissued a “buy” rating and set a $65.00 price objective on shares of Synaptics in a research note on Friday. Zacks Investment Research lowered Synaptics from a “hold” rating to a “sell” rating in a research note on Thursday, October 10th. BMO Capital Markets lifted their price objective on Synaptics from $29.00 to $33.00 and gave the company a “market perform” rating in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. lowered Synaptics from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $35.00 to $25.00 in a research note on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Synaptics currently has an average rating of “Hold” and an average price target of $43.11.
NASDAQ:SYNA traded up $5.36 during trading hours on Friday, hitting $59.01. 3,811,900 shares of the company’s stock traded hands, compared to its average volume of 652,419. The firm has a market cap of $1.58 billion, a P/E ratio of 23.60 and a beta of 1.00. Synaptics has a 52 week low of $26.34 and a 52 week high of $59.35. The business’s fifty day simple moving average is $41.21 and its two-hundred day simple moving average is $34.30. The company has a quick ratio of 2.25, a current ratio of 2.88 and a debt-to-equity ratio of 0.71.
Synaptics (NASDAQ:SYNA) last posted its quarterly earnings data on Thursday, November 7th. The software maker reported $1.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.49. The company had revenue of $339.90 million during the quarter, compared to analyst estimates of $314.44 million. Synaptics had a positive return on equity of 12.74% and a negative net margin of 1.56%. The firm’s quarterly revenue was down 18.6% on a year-over-year basis. During the same quarter last year, the company earned $1.24 earnings per share. On average, analysts expect that Synaptics will post 1.08 EPS for the current year.
In other Synaptics news, Director Nelson C. Chan sold 6,000 shares of Synaptics stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $33.25, for a total transaction of $199,500.00. Following the completion of the sale, the director now owns 39,449 shares of the company’s stock, valued at $1,311,679.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP John Mcfarland sold 2,926 shares of Synaptics stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $41.00, for a total value of $119,966.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,326 shares of company stock valued at $415,474. Corporate insiders own 1.70% of the company’s stock.
A number of hedge funds have recently modified their holdings of SYNA. Vanguard Group Inc. increased its holdings in shares of Synaptics by 3.7% in the second quarter. Vanguard Group Inc. now owns 4,883,667 shares of the software maker’s stock worth $142,310,000 after buying an additional 175,697 shares during the period. Fisher Asset Management LLC increased its holdings in shares of Synaptics by 13.8% in the third quarter. Fisher Asset Management LLC now owns 1,776,512 shares of the software maker’s stock worth $70,972,000 after buying an additional 215,852 shares during the period. Carlson Capital L P increased its holdings in shares of Synaptics by 41.9% in the second quarter. Carlson Capital L P now owns 735,427 shares of the software maker’s stock worth $21,430,000 after buying an additional 217,172 shares during the period. State of New Jersey Common Pension Fund D increased its holdings in shares of Synaptics by 3.3% in the second quarter. State of New Jersey Common Pension Fund D now owns 630,000 shares of the software maker’s stock worth $18,358,000 after buying an additional 20,000 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Synaptics by 2.5% in the second quarter. Northern Trust Corp now owns 553,287 shares of the software maker’s stock worth $16,123,000 after buying an additional 13,349 shares during the period. 98.58% of the stock is owned by hedge funds and other institutional investors.
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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