Synaptics Incorporated (NASDAQ:SYNA) Short Interest Update

Synaptics Incorporated (NASDAQ:SYNA) saw a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 4,160,000 shares, an increase of 24.9% from the November 15th total of 3,330,000 shares. Based on an average daily volume of 429,900 shares, the short-interest ratio is presently 9.7 days.

Synaptics Price Performance

SYNA traded down $0.98 during midday trading on Monday, hitting $78.48. 814,032 shares of the company traded hands, compared to its average volume of 346,836. The company has a current ratio of 4.49, a quick ratio of 4.02 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of 19.87 and a beta of 1.45. Synaptics has a 52-week low of $67.83 and a 52-week high of $121.37. The business has a 50 day simple moving average of $75.54 and a two-hundred day simple moving average of $80.11.

Wall Street Analyst Weigh In

A number of research firms have commented on SYNA. Needham & Company LLC cut their target price on shares of Synaptics from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Rosenblatt Securities lowered their target price on shares of Synaptics from $130.00 to $92.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. KeyCorp cut shares of Synaptics from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. TD Cowen boosted their price target on shares of Synaptics from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, Susquehanna reduced their target price on shares of Synaptics from $110.00 to $95.00 and set a “positive” rating on the stock in a report on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $97.33.

Insider Transactions at Synaptics

In other news, insider Vikram Gupta sold 411 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $81.63, for a total transaction of $33,549.93. Following the completion of the sale, the insider now directly owns 40,795 shares in the company, valued at approximately $3,330,095.85. This represents a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Synaptics

Hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC raised its stake in Synaptics by 261.8% during the third quarter. GAMMA Investing LLC now owns 369 shares of the software maker’s stock worth $29,000 after purchasing an additional 267 shares during the period. Quarry LP acquired a new position in shares of Synaptics in the third quarter valued at approximately $31,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Synaptics in the second quarter valued at approximately $67,000. Innealta Capital LLC acquired a new position in Synaptics during the 2nd quarter worth approximately $83,000. Finally, CWM LLC grew its holdings in 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 acquiring an additional 423 shares in the last quarter. 99.43% of the stock is owned by hedge funds and other institutional investors.

About Synaptics

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.