Analysts Set Synaptics Incorporated (NASDAQ:SYNA) PT at $96.88

Synaptics Incorporated (NASDAQ:SYNA) has received an average recommendation of “Moderate Buy” from the nine brokerages that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $95.00.

A number of research analysts have recently commented on the stock. Mizuho reduced their price target on shares of Synaptics from $90.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday. Craig Hallum upgraded Synaptics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price target on shares of Synaptics in a report on Tuesday, February 4th. Rosenblatt Securities restated a “buy” rating and issued a $105.00 price objective on shares of Synaptics in a research report on Thursday, February 27th. Finally, Susquehanna raised their target price on shares of Synaptics from $95.00 to $105.00 and gave the company a “positive” rating in a research note on Wednesday, January 22nd.

Synaptics Trading Up 0.0 %

Shares of Synaptics stock opened at $65.26 on Wednesday. The company’s 50-day moving average price is $72.34 and its 200-day moving average price is $74.63. 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 $2.56 billion, a price-to-earnings ratio of 15.43 and a beta of 1.55. Synaptics has a 12-month low of $60.75 and a 12-month high of $99.99.

Insider Transactions at Synaptics

In related news, insider Ken Rizvi acquired 3,600 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were purchased at an average price of $69.15 per share, for a total transaction of $248,940.00. Following the completion of the acquisition, the insider now owns 27,630 shares in the company, valued at approximately $1,910,614.50. This represents a 14.98 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Synaptics

Several institutional investors and hedge funds have recently bought and sold shares of SYNA. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Synaptics by 232.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,406 shares of the software maker’s stock worth $652,000 after purchasing an additional 5,880 shares during the last quarter. Intech Investment Management LLC boosted its position in Synaptics by 27.0% during the 3rd quarter. Intech Investment Management LLC now owns 27,689 shares of the software maker’s stock valued at $2,148,000 after buying an additional 5,883 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Synaptics by 4.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 447,881 shares of the software maker’s stock worth $34,747,000 after acquiring an additional 17,119 shares during the last quarter. Meridian Wealth Management LLC purchased a new position in shares of Synaptics in the third quarter valued at about $266,000. Finally, Algert Global LLC raised its stake in shares of Synaptics by 44.9% during the third quarter. Algert Global LLC now owns 50,797 shares of the software maker’s stock valued at $3,941,000 after acquiring an additional 15,750 shares during the last quarter. 99.43% of the stock is currently owned by institutional investors.

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.