Brokerages Set Synaptics Incorporated (NASDAQ:SYNA) Target Price at $105.44

Synaptics Incorporated (NASDAQ:SYNA) has received a consensus recommendation of “Moderate Buy” from the nine analysts that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $105.44.

A number of research firms have commented on SYNA. Craig Hallum reduced their price target on shares of Synaptics from $105.00 to $80.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. TD Cowen reduced their price target on Synaptics from $115.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, August 9th. KeyCorp cut their target price on shares of Synaptics from $115.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. JPMorgan Chase & Co. lowered their price objective on Synaptics from $120.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Finally, Needham & Company LLC cut their price target on Synaptics from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, August 9th.

Synaptics Stock Performance

SYNA opened at $75.39 on Wednesday. Synaptics has a 1-year low of $67.83 and a 1-year high of $121.37. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.19 and a quick ratio of 3.78. The business has a 50 day moving average price of $77.26 and a two-hundred day moving average price of $86.38. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of -27.82 and a beta of 1.47.

Synaptics (NASDAQ:SYNA) last posted its quarterly earnings results on Thursday, August 8th. The software maker reported $0.64 EPS for the quarter, beating the consensus estimate of $0.55 by $0.09. The business had revenue of $247.40 million for the quarter, compared to analysts’ expectations of $245.17 million. Synaptics had a net margin of 13.09% and a negative return on equity of 0.54%. Synaptics’s revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.01 EPS. Research analysts predict that Synaptics will post 0.72 EPS for the current fiscal year.

Insider Activity at Synaptics

In other Synaptics news, insider Vikram Gupta sold 1,008 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $80.00, for a total value of $80,640.00. Following the completion of the sale, the insider now directly owns 45,789 shares in the company, valued at $3,663,120. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 5,609 shares of company stock worth $448,720 in the last quarter. Company insiders own 1.20% of the company’s stock.

Institutional Trading of Synaptics

Several hedge funds have recently bought and sold shares of SYNA. Point72 Asset Management L.P. raised its holdings in Synaptics by 15,571.4% during the second quarter. Point72 Asset Management L.P. now owns 814,912 shares of the software maker’s stock worth $71,875,000 after buying an additional 809,712 shares during the last quarter. Norges Bank acquired a new stake in shares of Synaptics in the 4th quarter worth about $40,261,000. Bank of New York Mellon Corp raised its holdings in shares of Synaptics by 18.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,259,106 shares of the software maker’s stock worth $111,053,000 after acquiring an additional 193,182 shares during the last quarter. Victory Capital Management Inc. lifted its position in Synaptics by 39.1% in the 2nd quarter. Victory Capital Management Inc. now owns 545,958 shares of the software maker’s stock valued at $48,153,000 after acquiring an additional 153,434 shares in the last quarter. Finally, Westfield Capital Management Co. LP acquired a new position in Synaptics during the 1st quarter valued at about $13,065,000. Institutional investors and hedge funds own 99.43% of the company’s stock.

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.