Cowen Cuts Synaptics (NASDAQ:SYNA) Price Target to $180.00

Synaptics (NASDAQ:SYNA) had its price objective lowered by stock analysts at Cowen from $200.00 to $180.00 in a research note issued on Thursday, The Fly reports. The firm presently has an “outperform” rating on the software maker’s stock. Cowen’s target price would suggest a potential upside of 4.45% from the company’s previous close.

Several other equities analysts also recently commented on the company. TheStreet upgraded Synaptics from a “c+” rating to a “b-” rating in a research report on Thursday, August 5th. Zacks Investment Research downgraded Synaptics from a “buy” rating to a “hold” rating in a research report on Friday, October 8th. BMO Capital Markets boosted their target price on Synaptics from $140.00 to $165.00 and gave the stock a “market perform” rating in a research report on Friday, August 6th. Mizuho boosted their target price on Synaptics from $178.00 to $195.00 and gave the stock a “buy” rating in a research report on Monday, August 23rd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $220.00 target price on shares of Synaptics in a research report on Tuesday, August 31st. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Synaptics presently has a consensus rating of “Buy” and a consensus target price of $185.92.

Shares of Synaptics stock traded up $1.33 during trading hours on Thursday, hitting $172.33. The company’s stock had a trading volume of 5,259 shares, compared to its average volume of 432,345. The business has a 50 day moving average price of $178.43 and a two-hundred day moving average price of $152.99. Synaptics has a 12-month low of $74.47 and a 12-month high of $191.99. The company has a market cap of $6.74 billion, a PE ratio of 82.67, a PEG ratio of 2.14 and a beta of 1.27. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.40 and a current ratio of 1.50.

Synaptics (NASDAQ:SYNA) last announced its quarterly earnings data on Thursday, August 5th. The software maker reported $2.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.00 by $0.18. Synaptics had a return on equity of 25.78% and a net margin of 5.94%. The business had revenue of $327.80 million for the quarter, compared to the consensus estimate of $326.00 million. During the same period in the previous year, the business earned $1.24 earnings per share. As a group, research analysts anticipate that Synaptics will post 8.49 earnings per share for the current year.

In related news, insider Saleel Awsare sold 4,858 shares of the business’s stock in a transaction that occurred on Thursday, September 2nd. The stock was sold at an average price of $189.34, for a total value of $919,813.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kiva A. Allgood sold 750 shares of the business’s stock in a transaction that occurred on Friday, September 3rd. The shares were sold at an average price of $189.19, for a total value of $141,892.50. Following the completion of the sale, the director now owns 7,276 shares of the company’s stock, valued at approximately $1,376,546.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,295 shares of company stock worth $3,176,044. Insiders own 0.85% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Koshinski Asset Management Inc. purchased a new stake in Synaptics during the third quarter worth $38,000. Richard P Slaughter Associates Inc purchased a new stake in Synaptics during the third quarter worth $215,000. Hodges Capital Management Inc. lifted its holdings in Synaptics by 30.0% during the third quarter. Hodges Capital Management Inc. now owns 2,600 shares of the software maker’s stock worth $468,000 after buying an additional 600 shares during the period. Thrivent Financial for Lutherans lifted its holdings in Synaptics by 0.6% during the second quarter. Thrivent Financial for Lutherans now owns 9,345 shares of the software maker’s stock worth $1,454,000 after buying an additional 59 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Synaptics during the second quarter worth $317,000. Institutional investors own 92.47% of the company’s stock.

About Synaptics

Synaptics, Inc engages in the development, marketing, and sale of human interface semiconductor solutions for electronic devices and products. It specializes in custom-designed human interface that enable people to interact with mobile computing, communications, entertainment, and other electronic devices.

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