Synaptics (NASDAQ:SYNA) Given “Buy” Rating at Rosenblatt Securities

Synaptics (NASDAQ:SYNA)‘s stock had its “buy” rating restated by analysts at Rosenblatt Securities in a research note issued on Thursday,Benzinga reports. They presently have a $105.00 price target on the software maker’s stock. Rosenblatt Securities’ target price points to a potential upside of 54.34% from the stock’s previous close.

Several other analysts have also recently weighed in on the company. Craig Hallum upgraded Synaptics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 29th. Susquehanna boosted their price target on Synaptics from $95.00 to $105.00 and gave the stock a “positive” rating in a report on Wednesday, January 22nd. Needham & Company LLC restated a “buy” rating and set a $90.00 price target on shares of Synaptics in a report on Tuesday, February 4th. Finally, TD Cowen upped their target price on Synaptics from $90.00 to $100.00 and gave the company a “buy” rating in a report on Friday, November 8th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $96.88.

Synaptics Stock Down 0.5 %

Shares of NASDAQ SYNA opened at $68.03 on Thursday. The company has a current ratio of 3.88, a quick ratio of 3.36 and a debt-to-equity ratio of 0.60. The company has a market cap of $2.67 billion, a price-to-earnings ratio of 16.08 and a beta of 1.45. Synaptics has a 12 month low of $67.16 and a 12 month high of $109.00. The stock has a 50-day moving average price of $77.45 and a two-hundred day moving average price of $76.34.

Insiders Place Their Bets

In other news, insider Vikram Gupta sold 411 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $81.63, for a total transaction of $33,549.93. Following the transaction, the insider now directly owns 40,795 shares of the company’s stock, valued at $3,330,095.85. This represents a 1.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ken Rizvi bought 3,600 shares of the stock in a transaction dated Monday, February 10th. The shares were purchased at an average cost of $69.15 per share, for a total transaction of $248,940.00. Following the completion of the transaction, the insider now directly owns 27,630 shares of the company’s stock, valued at $1,910,614.50. This trade represents a 14.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Synaptics

A number of institutional investors have recently modified their holdings of the company. Louisiana State Employees Retirement System raised its position in shares of Synaptics by 1.8% during the fourth quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the software maker’s stock worth $847,000 after purchasing an additional 200 shares during the period. State of Michigan Retirement System raised its position in Synaptics by 2.1% in the 4th quarter. State of Michigan Retirement System now owns 9,533 shares of the software maker’s stock valued at $728,000 after buying an additional 200 shares during the last quarter. Arizona State Retirement System raised its position in Synaptics by 1.8% in the 4th quarter. Arizona State Retirement System now owns 11,573 shares of the software maker’s stock valued at $883,000 after buying an additional 200 shares during the last quarter. Bridge City Capital LLC raised its position in Synaptics by 0.9% in the 4th quarter. Bridge City Capital LLC now owns 22,511 shares of the software maker’s stock valued at $1,718,000 after buying an additional 201 shares during the last quarter. Finally, Inspire Advisors LLC raised its position in Synaptics by 2.7% in the 4th quarter. Inspire Advisors LLC now owns 8,175 shares of the software maker’s stock valued at $624,000 after buying an additional 212 shares during the last quarter. 99.43% of the stock is owned by institutional investors and hedge funds.

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.