Synaptics Incorporated (NASDAQ:SYNA) Receives Consensus Rating of “Moderate Buy” from Analysts

Synaptics Incorporated (NASDAQ:SYNAGet Free Report) has been assigned a consensus rating of “Moderate Buy” from the nine research firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $125.36.

A number of analysts recently weighed in on the stock. Susquehanna increased their price target on shares of Synaptics from $130.00 to $135.00 and gave the stock a “positive” rating in a research note on Friday, February 9th. KeyCorp raised their price target on Synaptics from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. StockNews.com raised Synaptics from a “sell” rating to a “hold” rating in a research note on Monday, February 12th. Needham & Company LLC lifted their target price on Synaptics from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Finally, Rosenblatt Securities upped their price target on Synaptics from $110.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, February 9th.

Read Our Latest Stock Report on SYNA

Synaptics Stock Down 2.9 %

Synaptics stock opened at $94.89 on Wednesday. The company has a market capitalization of $3.73 billion, a P/E ratio of -47.68 and a beta of 1.56. The company has a debt-to-equity ratio of 0.79, a quick ratio of 4.04 and a current ratio of 4.53. Synaptics has a fifty-two week low of $67.73 and a fifty-two week high of $121.37. The stock has a 50-day simple moving average of $104.09 and a 200-day simple moving average of $101.02.

Synaptics (NASDAQ:SYNAGet Free Report) last issued its quarterly earnings data on Thursday, February 8th. The software maker reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.11. The company had revenue of $237.00 million during the quarter, compared to analysts’ expectations of $235.26 million. Synaptics had a positive return on equity of 3.01% and a negative net margin of 7.54%. The firm’s revenue for the quarter was down 32.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.47 earnings per share. Equities research analysts expect that Synaptics will post -0.48 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Vikram Gupta sold 3,616 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $105.75, for a total transaction of $382,392.00. Following the transaction, the insider now directly owns 31,847 shares of the company’s stock, valued at approximately $3,367,820.25. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Synaptics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Synaptics by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 4,692,436 shares of the software maker’s stock worth $419,691,000 after buying an additional 72,044 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Synaptics by 3.1% in the third quarter. Wellington Management Group LLP now owns 1,329,211 shares of the software maker’s stock valued at $118,885,000 after purchasing an additional 39,352 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Synaptics by 2.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,131,256 shares of the software maker’s stock worth $369,500,000 after purchasing an additional 116,276 shares in the last quarter. Eagle Asset Management Inc. raised its position in shares of Synaptics by 10.1% during the 3rd quarter. Eagle Asset Management Inc. now owns 99,871 shares of the software maker’s stock worth $8,932,000 after purchasing an additional 9,141 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Synaptics in the 3rd quarter valued at approximately $2,271,000. 99.43% of the stock is currently owned by institutional investors and hedge funds.

Synaptics Company Profile

(Get Free Report

Synaptics Incorporated develops, markets, and sells semiconductor products worldwide. The company offers AudioSmart for voice and audio processing; ConnectSmart for high-speed video/audio/data connectivity; DisplayLink for transmitting compressed video frames across low bandwidth connections; VideoSmart that enables set-top boxes, over-the-top, streaming devices, soundbars, surveillance cameras, and smart displays; and ImagingSmart solutions.

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Analyst Recommendations for Synaptics (NASDAQ:SYNA)

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