Synaptics Incorporated (NASDAQ:SYNA) hit a new 52-week low on Wednesday . The company traded as low as $36.40 and last traded at $36.42, with a volume of 302,556 shares changing hands. The stock had previously closed at $36.97.
A number of equities research analysts have weighed in on SYNA shares. Pacific Crest reissued an “equal weight” rating on shares of Synaptics in a report on Tuesday, June 20th. BidaskClub downgraded shares of Synaptics from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Rosenblatt Securities reissued a “buy” rating and issued a $70.00 price target on shares of Synaptics in a report on Monday, June 26th. Oppenheimer Holdings, Inc. reissued an “underperform” rating and issued a $45.00 price target (down from $48.00) on shares of Synaptics in a report on Monday, July 17th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $56.00 price target on shares of Synaptics in a report on Thursday, July 20th. Seven investment analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $51.16.
The firm’s 50-day moving average price is $39.35 and its 200 day moving average price is $49.04. The firm has a market cap of $1.27 billion, a P/E ratio of 27.53 and a beta of 1.20.
Synaptics (NASDAQ:SYNA) last issued its earnings results on Thursday, August 3rd. The software maker reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.11. Synaptics had a return on equity of 16.51% and a net margin of 2.84%. The firm had revenue of $426.50 million for the quarter, compared to analysts’ expectations of $426.49 million. During the same quarter last year, the business earned $0.46 earnings per share. The company’s revenue was up 31.7% compared to the same quarter last year. Analysts forecast that Synaptics Incorporated will post $4.48 earnings per share for the current fiscal year.
Several large investors have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its holdings in shares of Synaptics by 16.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,048,535 shares of the software maker’s stock valued at $261,064,000 after purchasing an additional 697,328 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Synaptics by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 4,228,015 shares of the software maker’s stock valued at $218,630,000 after purchasing an additional 110,567 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Synaptics by 23,834.7% during the 1st quarter. BlackRock Inc. now owns 4,199,575 shares of the software maker’s stock valued at $207,921,000 after purchasing an additional 4,182,029 shares in the last quarter. State Street Corp lifted its holdings in shares of Synaptics by 0.6% during the 2nd quarter. State Street Corp now owns 1,313,469 shares of the software maker’s stock valued at $67,921,000 after purchasing an additional 8,390 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its holdings in shares of Synaptics by 2.3% during the 2nd quarter. Lord Abbett & CO. LLC now owns 1,244,747 shares of the software maker’s stock valued at $64,366,000 after purchasing an additional 27,878 shares in the last quarter. Institutional investors and hedge funds own 97.74% of the company’s stock.
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Synaptics Incorporated is engaged in the development, marketing and sale of intuitive human interface solutions for electronic devices and products. The Company is a developer and supplier of custom-designed human interface product solutions that enable people to interact with a range of mobile computing, communications, entertainment and other electronic devices.
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