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

Shares of Synaptics Incorporated (NASDAQ:SYNA) have earned a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $118.40.

Several research firms have recently weighed in on SYNA. Needham & Company LLC boosted their price objective on shares of Synaptics from $115.00 to $125.00 and gave the company a “buy” rating in a report on Friday, February 9th. TD Cowen upped their target price on shares of Synaptics from $115.00 to $135.00 and gave the company an “outperform” rating in a report on Friday, February 9th. Craig Hallum cut shares of Synaptics from a “buy” rating to a “hold” rating and set a $105.00 target price for the company. in a report on Friday, February 9th. Mizuho reduced their target price on shares of Synaptics from $127.00 to $124.00 and set a “buy” rating for the company in a report on Friday, February 9th. Finally, Rosenblatt Securities upped their target price on shares of Synaptics from $110.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 9th.

Synaptics Stock Up 1.9 %

Shares of Synaptics stock opened at $89.26 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 4.04 and a current ratio of 4.53. The stock has a market capitalization of $3.51 billion, a PE ratio of -44.85 and a beta of 1.56. Synaptics has a 52-week low of $67.73 and a 52-week high of $121.37. The company has a 50-day simple moving average of $96.80 and a two-hundred day simple moving average of $101.03.

Synaptics (NASDAQ:SYNA) last issued its earnings results on Thursday, February 8th. The software maker reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.11. Synaptics had a negative net margin of 7.54% and a positive return on equity of 3.01%. The business had revenue of $237.00 million during the quarter, compared to analysts’ expectations of $235.26 million. During the same period in the previous year, the company earned $1.47 earnings per share. The business’s revenue for the quarter was down 32.9% compared to the same quarter last year. On average, analysts anticipate that Synaptics will post -0.48 EPS for the current fiscal year.

Insider Buying and Selling at Synaptics

In other Synaptics news, insider Vikram Gupta sold 3,616 shares of the 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 completion of the transaction, the insider now owns 31,847 shares in the company, valued at $3,367,820.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Synaptics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in 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 during the period. Wellington Management Group LLP increased its stake in Synaptics by 3.1% in the 3rd quarter. Wellington Management Group LLP now owns 1,329,211 shares of the software maker’s stock worth $118,885,000 after buying an additional 39,352 shares during the period. Ameriprise Financial Inc. increased its stake in Synaptics by 2.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,131,256 shares of the software maker’s stock worth $369,500,000 after buying an additional 116,276 shares during the period. Eagle Asset Management Inc. increased its stake in Synaptics by 10.1% in the 3rd quarter. Eagle Asset Management Inc. now owns 99,871 shares of the software maker’s stock worth $8,932,000 after buying an additional 9,141 shares during the period. Finally, Quantbot Technologies LP purchased a new position in Synaptics in the 3rd quarter worth about $2,271,000. Hedge funds and other institutional investors own 99.43% of the company’s stock.

About Synaptics

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.