Needham & Company LLC Cuts Synaptics (NASDAQ:SYNA) Price Target to $90.00

Synaptics (NASDAQ:SYNA) had its target price dropped by research analysts at Needham & Company LLC from $95.00 to $90.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the software maker’s stock. Needham & Company LLC’s price objective suggests a potential upside of 12.00% from the company’s current price.

Other analysts have also issued research reports about the company. JPMorgan Chase & Co. cut their target price on Synaptics from $120.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Craig Hallum lowered their price target on Synaptics from $105.00 to $80.00 and set a “hold” rating for the company in a report on Friday, August 9th. KeyCorp cut shares of Synaptics from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Susquehanna lowered their target price on shares of Synaptics from $110.00 to $95.00 and set a “positive” rating for the company in a report on Monday, October 21st. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $130.00 price target on shares of Synaptics in a research note on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.56.

Synaptics Stock Performance

NASDAQ SYNA traded up $5.72 on Friday, hitting $80.36. 499,584 shares of the company’s stock traded hands, compared to its average volume of 308,387. The firm’s 50-day moving average price is $73.80 and its two-hundred day moving average price is $82.45. The firm has a market capitalization of $3.21 billion, a PE ratio of 25.92 and a beta of 1.47. The company has a current ratio of 4.19, a quick ratio of 3.78 and a debt-to-equity ratio of 0.66. Synaptics has a 1-year low of $67.83 and a 1-year high of $121.37.

Synaptics (NASDAQ:SYNA) last released its quarterly earnings data on Thursday, August 8th. The software maker reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.09. Synaptics had a negative return on equity of 0.54% and a net margin of 13.09%. The business had revenue of $247.40 million during the quarter, compared to analyst estimates of $245.17 million. During the same quarter last year, the business posted $0.01 EPS. The company’s revenue was up 8.8% on a year-over-year basis. As a group, analysts expect that Synaptics will post 0.81 EPS for the current year.

Insiders Place Their Bets

In other Synaptics news, insider Vikram Gupta sold 1,870 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $80.00, for a total transaction of $149,600.00. Following the transaction, the insider now owns 46,797 shares of the company’s stock, valued at approximately $3,743,760. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders sold 5,609 shares of company stock worth $448,720. 1.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Synaptics

Several institutional investors have recently made changes to their positions in SYNA. GAMMA Investing LLC increased its holdings in Synaptics by 261.8% in the 3rd quarter. GAMMA Investing LLC now owns 369 shares of the software maker’s stock valued at $29,000 after buying an additional 267 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Synaptics during the second quarter worth $67,000. Innealta Capital LLC acquired a new stake in shares of Synaptics in the 2nd quarter valued at $83,000. CWM LLC increased its position in shares of Synaptics by 58.1% during the 3rd quarter. CWM LLC now owns 1,151 shares of the software maker’s stock worth $89,000 after purchasing an additional 423 shares in the last quarter. Finally, Van ECK Associates Corp bought a new stake in Synaptics during the third quarter worth about $132,000. 99.43% of the stock is currently owned by institutional investors and hedge funds.

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.