Synaptics Incorporated (NASDAQ:SYNA) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Synaptics Incorporated (NASDAQ:SYNA) have received an average recommendation of “Moderate Buy” from the nine analysts that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $95.00.

A number of research analysts have issued reports on the stock. Craig Hallum upgraded shares of Synaptics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 29th. Mizuho cut their price objective on shares of Synaptics from $90.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, March 24th. Susquehanna upped their target price on shares of Synaptics from $95.00 to $105.00 and gave the company a “positive” rating in a research report on Wednesday, January 22nd. Rosenblatt Securities reissued a “buy” rating and issued a $105.00 price target on shares of Synaptics in a research note on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price objective on shares of Synaptics in a research note on Tuesday, February 4th.

Insider Buying and Selling

In other Synaptics news, insider Ken Rizvi purchased 3,600 shares of the stock in a transaction on Monday, February 10th. The shares were purchased at an average cost of $69.15 per share, for a total transaction of $248,940.00. Following the purchase, the insider now owns 27,630 shares of the company’s stock, valued at approximately $1,910,614.50. This represents a 14.98 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Synaptics

Several hedge funds have recently modified their holdings of the stock. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Synaptics during the first quarter valued at approximately $25,000. Parallel Advisors LLC grew its stake in shares of Synaptics by 151.1% in the first quarter. Parallel Advisors LLC now owns 447 shares of the software maker’s stock valued at $28,000 after buying an additional 269 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new position in Synaptics during the fourth quarter worth $31,000. Menard Financial Group LLC bought a new stake in Synaptics during the fourth quarter worth $37,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Synaptics in the fourth quarter valued at $43,000. Institutional investors own 99.43% of the company’s stock.

Synaptics Stock Up 1.0 %

NASDAQ SYNA opened at $58.23 on Thursday. The stock has a market capitalization of $2.28 billion, a P/E ratio of 13.77 and a beta of 1.67. Synaptics has a 52 week low of $41.80 and a 52 week high of $98.00. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.36 and a current ratio of 3.88. The stock has a fifty day moving average of $57.40 and a 200-day moving average of $70.00.

Synaptics Company Profile

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.