Synaptics (NASDAQ:SYNA) Price Target Lowered to $115.00 at Rosenblatt Securities

Synaptics (NASDAQ:SYNA) had its target price lowered by Rosenblatt Securities from $160.00 to $115.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the software maker’s stock. Rosenblatt Securities’ target price suggests a potential upside of 12.63% from the company’s current price.

A number of other research firms have also recently commented on SYNA. Northland Securities cut Synaptics from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 26th. Zacks Research raised Synaptics from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft downgraded Synaptics from a “buy” rating to a “hold” rating and set a $125.00 price objective on the stock. in a report on Monday, June 29th. Craig Hallum reaffirmed a “hold” rating and issued a $145.00 target price on shares of Synaptics in a research report on Friday, June 26th. Finally, Barclays reiterated an “equal weight” rating and set a $135.00 price target (up from $110.00) on shares of Synaptics in a research note on Friday, June 26th. Three analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Synaptics has a consensus rating of “Hold” and an average target price of $129.36.

Synaptics Price Performance

Shares of SYNA opened at $102.10 on Friday. The firm has a 50-day simple moving average of $124.23 and a two-hundred day simple moving average of $102.04. The stock has a market cap of $3.95 billion, a PE ratio of -82.34 and a beta of 1.99. Synaptics has a 1-year low of $58.28 and a 1-year high of $149.11. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.04 and a quick ratio of 2.39.

Synaptics (NASDAQ:SYNA) last issued its quarterly earnings data on Thursday, August 6th. The software maker reported $1.23 EPS for the quarter, topping the consensus estimate of $1.21 by $0.02. The firm had revenue of $308.00 million for the quarter, compared to analyst estimates of $305.32 million. Synaptics had a negative net margin of 4.10% and a positive return on equity of 4.32%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.01 EPS. As a group, analysts forecast that Synaptics will post 1.29 EPS for the current year.

Insider Buying and Selling at Synaptics

In other news, insider Lisa Bodensteiner sold 334 shares of Synaptics stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $138.28, for a total value of $46,185.52. Following the completion of the transaction, the insider owned 61,989 shares in the company, valued at approximately $8,571,838.92. This trade represents a 0.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Esther Song sold 8,833 shares of Synaptics stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $141.17, for a total transaction of $1,246,954.61. Following the completion of the transaction, the insider owned 12,421 shares of the company’s stock, valued at $1,753,472.57. This represents a 41.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 11,649 shares of company stock valued at $1,603,484 in the last quarter. Corporate insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Synaptics

Several hedge funds have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System purchased a new stake in shares of Synaptics in the first quarter valued at about $784,000. Intech Investment Management LLC increased its holdings in shares of Synaptics by 186.4% in the fourth quarter. Intech Investment Management LLC now owns 70,287 shares of the software maker’s stock valued at $5,203,000 after purchasing an additional 45,746 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Synaptics by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 1,000,456 shares of the software maker’s stock worth $74,066,000 after purchasing an additional 17,088 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Synaptics by 26.4% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 44,175 shares of the software maker’s stock valued at $3,346,000 after buying an additional 9,218 shares during the period. Finally, Trigran Investments Inc. boosted its holdings in shares of Synaptics by 4.7% in the fourth quarter. Trigran Investments Inc. now owns 692,587 shares of the software maker’s stock valued at $51,265,000 after acquiring an additional 31,150 shares in the last quarter. 99.43% of the stock is currently owned by hedge funds and other institutional investors.

Synaptics Company Profile

Synaptics Incorporated is a global developer and supplier of human interface solutions for computing, networking, communications, and entertainment devices. The company specializes in the design, development and integration of custom chips and software that enable intuitive, natural user interactions. Synaptics solutions support touch, display, audio and biometrics functions, facilitating seamless human-to-machine interfaces across a broad range of end markets.

Key product offerings include touch controllers for laptops and tablets, capacitive touchscreens and display drivers for mobile devices, fingerprint sensors and secure authentication modules, as well as advanced audio processing and voice enhancement technologies.