Synaptics (NASDAQ:SYNA) Lifted to “Strong-Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Synaptics (NASDAQ:SYNA) from a hold rating to a strong-buy rating in a research report report published on Wednesday, Zacks.com reports. They currently have $67.00 price objective on the software maker’s stock.

According to Zacks, “Synaptics is a leader in designing and marketing human interface solutions such as touchpads for notebook computers, capactive touch screen controllers for handsets and biometric fingerprint sensors for mobile devices. “

Several other equities analysts also recently commented on SYNA. Craig Hallum increased their target price on Synaptics from $28.00 to $40.00 and gave the company a hold rating in a research report on Friday, November 8th. Dougherty & Co upgraded Synaptics from a neutral rating to a buy rating and set a $40.00 target price for the company in a research report on Friday, August 9th. JPMorgan Chase & Co. increased their target price on Synaptics from $25.00 to $32.00 and gave the company an underweight rating in a research report on Friday, November 8th. BidaskClub upgraded Synaptics from a buy rating to a strong-buy rating in a research report on Thursday, November 7th. Finally, TheStreet upgraded Synaptics from a d+ rating to a c- rating in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $46.67.

Shares of SYNA stock traded down $0.04 during trading on Wednesday, reaching $60.37. 663,900 shares of the company’s stock were exchanged, compared to its average volume of 997,374. The company has a quick ratio of 2.42, a current ratio of 2.98 and a debt-to-equity ratio of 0.72. Synaptics has a twelve month low of $26.34 and a twelve month high of $62.10. The stock has a market capitalization of $2.02 billion, a PE ratio of 24.15 and a beta of 1.00. The firm’s fifty day moving average price is $44.20 and its 200-day moving average price is $35.06.

Synaptics (NASDAQ:SYNA) last announced its quarterly earnings data on Thursday, November 7th. The software maker reported $1.22 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.49. Synaptics had a positive return on equity of 13.40% and a negative net margin of 1.63%. The business had revenue of $339.90 million during the quarter, compared to the consensus estimate of $314.44 million. During the same period in the prior year, the company earned $1.24 EPS. Synaptics’s revenue for the quarter was down 18.6% on a year-over-year basis. As a group, analysts anticipate that Synaptics will post 2.81 EPS for the current fiscal year.

In other news, insider Shawn Tsai-Shyang Liu sold 1,600 shares of the stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $40.00, for a total value of $64,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kermit Nolan sold 9,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $56.89, for a total value of $512,010.00. Following the completion of the sale, the insider now directly owns 71,276 shares of the company’s stock, valued at approximately $4,054,891.64. The disclosure for this sale can be found here. Insiders sold 38,326 shares of company stock valued at $2,084,464 over the last quarter. Corporate insiders own 1.70% of the company’s stock.

Hedge funds have recently modified their holdings of the company. TRUE Private Wealth Advisors acquired a new stake in shares of Synaptics in the second quarter valued at about $56,000. US Bancorp DE increased its stake in shares of Synaptics by 80.1% in the second quarter. US Bancorp DE now owns 2,156 shares of the software maker’s stock valued at $62,000 after buying an additional 959 shares during the period. Bank of Montreal Can increased its stake in shares of Synaptics by 188.6% in the second quarter. Bank of Montreal Can now owns 3,495 shares of the software maker’s stock valued at $102,000 after buying an additional 2,284 shares during the period. Quantamental Technologies LLC acquired a new stake in shares of Synaptics in the second quarter valued at about $113,000. Finally, Neuburgh Advisers LLC increased its stake in shares of Synaptics by 34.4% in the second quarter. Neuburgh Advisers LLC now owns 4,496 shares of the software maker’s stock valued at $131,000 after buying an additional 1,152 shares during the period. 98.81% of the stock is owned by institutional investors.

Synaptics Company Profile

Synaptics Incorporated develops, markets, and sells intuitive human interface solutions for electronic devices and products worldwide. The company offers its products and solutions for smartphones, tablets, and touchscreen applications, as well as mobile, handheld, wireless, and entertainment devices; notebook applications; and other personal computer (PC) product applications.

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