Synaptics Incorporated (NASDAQ:SYNA) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Synaptics Incorporated (NASDAQ:SYNA) have been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $105.44.

A number of analysts have commented on the stock. Craig Hallum reduced their target price on shares of Synaptics from $105.00 to $80.00 and set a “hold” rating for the company in a report on Friday, August 9th. Needham & Company LLC reduced their price objective on Synaptics from $110.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, August 9th. KeyCorp lowered their target price on Synaptics from $115.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. TD Cowen reduced their price target on Synaptics from $115.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. lowered their price objective on Synaptics from $120.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th.

Synaptics Price Performance

NASDAQ SYNA opened at $71.38 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.78 and a current ratio of 4.19. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of -26.34 and a beta of 1.47. The stock has a 50-day moving average of $82.20 and a 200 day moving average of $89.91. Synaptics has a one year low of $67.83 and a one year high of $121.37.

Synaptics (NASDAQ:SYNA) last issued its earnings results on Thursday, August 8th. The software maker reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.09. Synaptics had a net margin of 13.09% and a negative return on equity of 0.54%. The company had revenue of $247.40 million for the quarter, compared to analysts’ expectations of $245.17 million. During the same quarter last year, the company posted $0.01 earnings per share. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. On average, sell-side analysts forecast that Synaptics will post 0.72 EPS for the current year.

Insiders Place Their Bets

In other news, insider Vikram Gupta sold 1,008 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $80.00, for a total value of $80,640.00. Following the transaction, the insider now owns 45,789 shares of the company’s stock, valued at $3,663,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 3,652 shares of company stock worth $300,226 in the last three months. 1.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Synaptics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CWM LLC boosted its position in shares of Synaptics by 26.0% during the 1st quarter. CWM LLC now owns 673 shares of the software maker’s stock valued at $66,000 after acquiring an additional 139 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Synaptics in the 2nd quarter worth $67,000. Register Financial Advisors LLC bought a new stake in shares of Synaptics in the 1st quarter worth about $76,000. Innealta Capital LLC purchased a new stake in shares of Synaptics during the 2nd quarter valued at about $83,000. Finally, nVerses Capital LLC bought a new position in shares of Synaptics in the 2nd quarter valued at about $141,000. 99.43% of the stock is 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.