Synaptics (NASDAQ:SYNA) Upgraded at Northland Capmk

Synaptics (NASDAQ:SYNA) was upgraded by research analysts at Northland Capmk to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other analysts have also recently commented on the company. Northland Securities assumed coverage on Synaptics in a report on Tuesday. They issued an “outperform” rating and a $85.00 price target for the company. Deutsche Bank Aktiengesellschaft started coverage on Synaptics in a report on Thursday, September 11th. They issued a “buy” rating and a $85.00 target price for the company. Wall Street Zen raised shares of Synaptics from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Needham & Company LLC reiterated a “buy” rating and issued a $85.00 price objective on shares of Synaptics in a research note on Friday, November 7th. Finally, Barclays initiated coverage on shares of Synaptics in a report on Monday, August 18th. They set an “overweight” rating and a $78.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $87.88.

Synaptics Stock Up 5.4%

Shares of NASDAQ:SYNA opened at $70.91 on Tuesday. Synaptics has a fifty-two week low of $41.80 and a fifty-two week high of $89.81. The company has a quick ratio of 2.26, a current ratio of 2.78 and a debt-to-equity ratio of 0.60. The firm’s 50-day simple moving average is $67.85 and its 200-day simple moving average is $66.76. The company has a market cap of $2.76 billion, a price-to-earnings ratio of -58.60, a PEG ratio of 3.03 and a beta of 1.63.

Synaptics (NASDAQ:SYNA) last announced its quarterly earnings data on Thursday, November 6th. The software maker reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. Synaptics had a negative net margin of 4.45% and a positive return on equity of 4.32%. The firm had revenue of $292.50 million during the quarter, compared to the consensus estimate of $289.93 million. During the same quarter last year, the firm earned $0.81 earnings per share. The firm’s revenue was up 13.5% compared to the same quarter last year. Synaptics has set its Q2 2026 guidance at 1.000-1.300 EPS. As a group, equities research analysts predict that Synaptics will post 0.96 earnings per share for the current year.

Synaptics announced that its board has approved a stock repurchase program on Thursday, August 7th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the software maker to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Synaptics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SYNA. Ameriprise Financial Inc. grew its position in shares of Synaptics by 22.5% in the first quarter. Ameriprise Financial Inc. now owns 6,098,453 shares of the software maker’s stock valued at $388,587,000 after purchasing an additional 1,118,559 shares during the last quarter. Norges Bank purchased a new stake in Synaptics in the 2nd quarter valued at approximately $25,876,000. AQR Capital Management LLC grew its holdings in Synaptics by 186.2% during the 2nd quarter. AQR Capital Management LLC now owns 443,441 shares of the software maker’s stock valued at $28,744,000 after buying an additional 288,523 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Synaptics by 51.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 544,973 shares of the software maker’s stock valued at $37,243,000 after buying an additional 184,303 shares during the last quarter. Finally, Squarepoint Ops LLC increased its position in Synaptics by 376.6% during the second quarter. Squarepoint Ops LLC now owns 198,269 shares of the software maker’s stock worth $12,852,000 after buying an additional 156,671 shares in the last quarter. Institutional investors and hedge funds own 99.43% of the company’s stock.

About Synaptics

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.