Synaptics (NASDAQ:SYNA) PT Lowered to $115.00

Synaptics (NASDAQ:SYNA) had its price target reduced by investment analysts at TD Cowen from $135.00 to $115.00 in a research note issued on Friday, Briefing.com reports. The brokerage currently has a “buy” rating on the software maker’s stock. TD Cowen’s target price would indicate a potential upside of 25.46% from the stock’s current price.

A number of other research firms also recently weighed in on SYNA. Needham & Company LLC increased their price target on Synaptics from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, February 9th. StockNews.com raised Synaptics from a “sell” rating to a “hold” rating in a research note on Monday, February 12th. Craig Hallum cut shares of Synaptics from a “buy” rating to a “hold” rating and set a $105.00 price target on the stock. in a research report on Friday, February 9th. Rosenblatt Securities raised their price objective on shares of Synaptics from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Finally, KeyCorp lifted their price objective on shares of Synaptics from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $118.78.

Synaptics Stock Performance

SYNA stock opened at $91.66 on Friday. The company has a 50-day simple moving average of $94.43 and a 200 day simple moving average of $100.75. The company has a market capitalization of $3.60 billion, a P/E ratio of -46.06 and a beta of 1.59. The company has a quick ratio of 4.04, a current ratio of 4.53 and a debt-to-equity ratio of 0.79. Synaptics has a fifty-two week low of $72.64 and a fifty-two week high of $121.37.

Synaptics (NASDAQ:SYNA) last released its quarterly earnings results on Thursday, May 9th. The software maker reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. The company had revenue of $237.30 million for the quarter, compared to the consensus estimate of $235.17 million. Synaptics had a negative net margin of 7.54% and a positive return on equity of 3.01%. Synaptics’s revenue was down 27.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.14 EPS. Sell-side analysts predict that Synaptics will post -0.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Vikram Gupta sold 3,616 shares of the business’s stock in a transaction that occurred 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 sale, 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 can be accessed through this hyperlink. 1.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SYNA. Vanguard Group Inc. lifted 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 acquiring an additional 72,044 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Synaptics by 3.1% in the 3rd quarter. Wellington Management Group LLP now owns 1,329,211 shares of the software maker’s stock valued at $118,885,000 after purchasing an additional 39,352 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Synaptics by 2.9% in the third quarter. Ameriprise Financial Inc. now owns 4,131,256 shares of the software maker’s stock worth $369,500,000 after purchasing an additional 116,276 shares in the last quarter. Eagle Asset Management Inc. boosted its holdings in shares of Synaptics by 10.1% during the third quarter. Eagle Asset Management Inc. now owns 99,871 shares of the software maker’s stock worth $8,932,000 after purchasing an additional 9,141 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in shares of Synaptics during the third quarter worth approximately $2,271,000. Hedge funds and other institutional investors 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.