TD Cowen Lowers Synaptics (NASDAQ:SYNA) Price Target to $90.00

Synaptics (NASDAQ:SYNA) had its target price dropped by equities research analysts at TD Cowen from $115.00 to $90.00 in a note issued to investors on Friday, StockNewsAPI reports. The firm presently has a “buy” rating on the software maker’s stock. TD Cowen’s price target indicates a potential upside of 24.43% from the company’s current price.

SYNA has been the subject of a number of other reports. Needham & Company LLC cut their target price on Synaptics from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Friday. KeyCorp dropped their price objective on Synaptics from $115.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Wells Fargo & Company decreased their target price on Synaptics from $115.00 to $95.00 and set an “equal weight” rating on the stock in a report on Friday, May 10th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $111.56.

Synaptics Stock Up 6.2 %

SYNA opened at $72.33 on Friday. Synaptics has a 1-year low of $67.83 and a 1-year high of $121.37. The company has a current ratio of 5.32, a quick ratio of 4.78 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of -26.69 and a beta of 1.47. The business has a 50 day moving average of $88.28 and a 200-day moving average of $94.60.

Synaptics (NASDAQ:SYNA) last posted its quarterly earnings data on Thursday, August 8th. The software maker reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.09. The company had revenue of $247.40 million during the quarter, compared to analysts’ expectations of $245.17 million. Synaptics had a negative return on equity of 0.90% and a negative net margin of 11.30%. Synaptics’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.01 earnings per share. As a group, sell-side analysts anticipate that Synaptics will post -0.36 earnings per share for the current year.

Hedge Funds Weigh In On Synaptics

Hedge funds have recently added to or reduced their stakes in the company. CWM LLC boosted its holdings in Synaptics by 26.0% during the first quarter. CWM LLC now owns 673 shares of the software maker’s stock worth $66,000 after buying an additional 139 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in Synaptics during the second quarter worth about $67,000. Register Financial Advisors LLC bought a new position in Synaptics during the first quarter worth about $76,000. Innealta Capital LLC bought a new position in Synaptics during the second quarter worth about $83,000. Finally, nVerses Capital LLC bought a new position in Synaptics during the second quarter worth about $141,000. 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.