Synaptics (NASDAQ:SYNA) Stock Price Expected to Rise, TD Cowen Analyst Says

Synaptics (NASDAQ:SYNA) had its price target increased by analysts at TD Cowen from $90.00 to $100.00 in a research note issued on Friday,Briefing.com Automated Import reports. The brokerage presently has a “buy” rating on the software maker’s stock. TD Cowen’s price objective would indicate a potential upside of 33.98% from the company’s current price.

A number of other research firms have also recently issued reports on SYNA. KeyCorp cut Synaptics from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Needham & Company LLC dropped their price objective on Synaptics from $110.00 to $95.00 and set a “buy” rating for the company in a report on Friday, August 9th. Rosenblatt Securities restated a “buy” rating and set a $130.00 price objective on shares of Synaptics in a report on Thursday, October 31st. Craig Hallum dropped their price objective on Synaptics from $105.00 to $80.00 and set a “hold” rating for the company in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. dropped their price objective on Synaptics from $120.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.11.

Synaptics Price Performance

Shares of Synaptics stock opened at $74.64 on Friday. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of 24.08 and a beta of 1.47. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.78 and a current ratio of 4.19. The stock has a 50 day moving average price of $73.80 and a 200-day moving average price of $82.45. Synaptics has a one year low of $67.83 and a one year high of $121.37.

Synaptics (NASDAQ:SYNA) last announced its earnings results on Thursday, August 8th. The software maker reported $0.64 EPS for the quarter, topping 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 firm had revenue of $247.40 million during the quarter, compared to analysts’ expectations of $245.17 million. During the same quarter in the previous year, the business earned $0.01 EPS. The company’s quarterly revenue was up 8.8% on a year-over-year basis. Equities analysts expect that Synaptics will post 0.81 EPS for the current year.

Insider Transactions at Synaptics

In other news, insider Vikram Gupta sold 2,731 shares of the business’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $80.00, for a total value of $218,480.00. Following the completion of the transaction, the insider now directly owns 43,245 shares of the company’s stock, valued at approximately $3,459,600. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders sold 5,609 shares of company stock valued at $448,720. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SYNA. Point72 Asset Management L.P. increased its position in Synaptics by 15,571.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 814,912 shares of the software maker’s stock valued at $71,875,000 after buying an additional 809,712 shares in the last quarter. Bank of New York Mellon Corp increased its position in Synaptics by 18.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,259,106 shares of the software maker’s stock valued at $111,053,000 after buying an additional 193,182 shares in the last quarter. Victory Capital Management Inc. increased its position in Synaptics by 39.1% during the 2nd quarter. Victory Capital Management Inc. now owns 545,958 shares of the software maker’s stock valued at $48,153,000 after buying an additional 153,434 shares in the last quarter. Westfield Capital Management Co. LP acquired a new position in Synaptics during the 1st quarter valued at about $13,065,000. Finally, Emerald Mutual Fund Advisers Trust increased its position in Synaptics by 88.7% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 160,993 shares of the software maker’s stock valued at $14,200,000 after buying an additional 75,680 shares in the last quarter. 99.43% of the stock is 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.