Synaptics (NASDAQ:SYNA) Stock Rating Upgraded by TheStreet

Synaptics (NASDAQ:SYNAGet Rating) was upgraded by equities researchers at TheStreet from a “c+” rating to a “b-” rating in a report issued on Thursday, TheStreetRatingsTable reports.

Other analysts also recently issued research reports about the company. Craig Hallum dropped their price target on Synaptics from $265.00 to $220.00 in a research note on Friday, May 6th. Susquehanna Bancshares decreased their price objective on Synaptics from $200.00 to $185.00 in a report on Friday. Susquehanna decreased their price objective on Synaptics from $200.00 to $185.00 in a report on Friday. Wells Fargo & Company decreased their price objective on Synaptics from $175.00 to $125.00 and set an “equal weight” rating for the company in a report on Monday, July 11th. Finally, Cowen decreased their price objective on Synaptics from $310.00 to $210.00 in a report on Monday, May 2nd. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $221.67.

Synaptics Stock Up 0.5 %

Shares of SYNA stock opened at $145.75 on Thursday. Synaptics has a 1-year low of $109.26 and a 1-year high of $299.39. The stock’s fifty day moving average price is $131.12 and its 200 day moving average price is $168.68. The company has a debt-to-equity ratio of 0.85, a current ratio of 3.17 and a quick ratio of 2.80. The company has a market cap of $5.77 billion, a price-to-earnings ratio of 23.03 and a beta of 1.46.

Synaptics (NASDAQ:SYNAGet Rating) last announced its earnings results on Thursday, August 4th. The software maker reported $3.87 earnings per share for the quarter, topping the consensus estimate of $3.13 by $0.74. The firm had revenue of $476.40 million for the quarter, compared to the consensus estimate of $472.74 million. Synaptics had a return on equity of 40.31% and a net margin of 14.80%. The firm’s revenue for the quarter was up 45.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.60 EPS. On average, research analysts expect that Synaptics will post 11.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Kiva A. Allgood sold 196 shares of the company’s stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $155.61, for a total value of $30,499.56. Following the completion of the transaction, the director now owns 6,654 shares of the company’s stock, valued at approximately $1,035,428.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Synaptics news, insider Dean Warren Butler sold 1,126 shares of the stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $155.61, for a total transaction of $175,216.86. Following the completion of the transaction, the insider now owns 26,651 shares of the company’s stock, valued at $4,147,162.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kiva A. Allgood sold 196 shares of the stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $155.61, for a total value of $30,499.56. Following the transaction, the director now directly owns 6,654 shares of the company’s stock, valued at approximately $1,035,428.94. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Synaptics

Hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Synaptics in the fourth quarter valued at approximately $3,957,000. D.A. Davidson & CO. purchased a new stake in shares of Synaptics in the fourth quarter valued at approximately $223,000. CWM LLC purchased a new stake in shares of Synaptics in the fourth quarter valued at approximately $86,000. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Synaptics in the fourth quarter valued at approximately $545,000. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of Synaptics in the fourth quarter valued at approximately $2,993,000. Institutional investors and hedge funds own 91.93% of the company’s stock.

About Synaptics

(Get Rating)

Synaptics Incorporated develops and supplies semiconductor products and solutions 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 or over-the-top, streaming devices, soundbars, surveillance cameras, and smart displays; and ImagingSmart solutions.

Further Reading

Analyst Recommendations for Synaptics (NASDAQ:SYNA)

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