Synaptics Incorporated (NASDAQ:SYNA) Receives Average Recommendation of “Buy” from Analysts

Shares of Synaptics Incorporated (NASDAQ:SYNA) have been assigned an average recommendation of “Buy” from the eight brokerages that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $93.75.

Several research firms have commented on SYNA. Needham & Company LLC began coverage on shares of Synaptics in a research note on Friday, May 9th. They set a “buy” rating and a $80.00 price objective for the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $105.00 price objective on shares of Synaptics in a research note on Thursday, February 27th. Finally, Mizuho dropped their price objective on shares of Synaptics from $90.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, March 24th.

Synaptics Trading Up 1.2%

Shares of SYNA opened at $62.56 on Monday. The company’s fifty day moving average is $56.47 and its 200 day moving average is $68.19. Synaptics has a fifty-two week low of $41.80 and a fifty-two week high of $98.00. The stock has a market capitalization of $2.41 billion, a PE ratio of 14.79 and a beta of 1.68. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.36 and a current ratio of 3.88.

Synaptics (NASDAQ:SYNA) last posted its quarterly earnings data on Thursday, May 8th. The software maker reported $0.90 EPS for the quarter, topping the consensus estimate of $0.85 by $0.05. The company had revenue of $266.60 million during the quarter, compared to analyst estimates of $265.03 million. Synaptics had a net margin of 16.73% and a return on equity of 1.61%. Synaptics’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.53 earnings per share. Sell-side analysts expect that Synaptics will post 0.96 earnings per share for the current fiscal year.

Institutional Trading of Synaptics

A number of large investors have recently made changes to their positions in SYNA. Barclays PLC boosted its stake in shares of Synaptics by 189.7% during the third quarter. Barclays PLC now owns 81,330 shares of the software maker’s stock valued at $6,309,000 after purchasing an additional 53,252 shares during the period. KBC Group NV boosted its stake in shares of Synaptics by 87.4% during the fourth quarter. KBC Group NV now owns 1,795 shares of the software maker’s stock valued at $137,000 after purchasing an additional 837 shares during the period. Retirement Systems of Alabama boosted its stake in shares of Synaptics by 1.2% during the fourth quarter. Retirement Systems of Alabama now owns 61,208 shares of the software maker’s stock valued at $4,671,000 after purchasing an additional 727 shares during the period. Louisiana State Employees Retirement System boosted its stake 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 valued at $847,000 after purchasing an additional 200 shares during the period. Finally, Van ECK Associates Corp boosted its stake in shares of Synaptics by 211.4% during the fourth quarter. Van ECK Associates Corp now owns 5,754 shares of the software maker’s stock valued at $439,000 after purchasing an additional 3,906 shares during the period. 99.43% of the stock is owned by hedge funds and other 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.