Synaptics Incorporated (NASDAQ:SYNA) Stock Has Average Price Target of $123.09 According to Brokerages

Synaptics Incorporated (NASDAQ:SYNA) has earned an average recommendation of “Hold” from the fourteen analysts that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $123.09.

A number of research firms recently weighed in on SYNA. Northland Securities downgraded Synaptics from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 26th. Craig Hallum set a $105.00 price objective on Synaptics in a research report on Friday, August 7th. Zacks Research downgraded Synaptics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 9th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $123.00 target price (down from $140.00) on shares of Synaptics in a report on Friday, October 2nd. Finally, Rosenblatt Securities lifted their price target on shares of Synaptics from $115.00 to $123.00 and gave the company a “neutral” rating in a research report on Friday, October 2nd.

Synaptics Price Performance

Shares of SYNA opened at $117.18 on Thursday. The company has a current ratio of 1.12, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43. The stock’s 50 day moving average is $103.36 and its two-hundred day moving average is $109.77. Synaptics has a twelve month low of $58.28 and a twelve month high of $149.11. The firm has a market capitalization of $4.65 billion, a PE ratio of -9.26 and a beta of 1.96.

Synaptics (NASDAQ:SYNA) last issued its earnings results on Thursday, August 6th. The software maker reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.02. The business had revenue of $308.00 million during the quarter, compared to the consensus estimate of $305.32 million. Synaptics had a positive return on equity of 4.37% and a negative net margin of 41.00%. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.01 EPS. Research analysts anticipate that Synaptics will post 1.98 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Esther Song sold 437 shares of Synaptics stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $103.68, for a total transaction of $45,308.16. Following the completion of the transaction, the insider owned 14,683 shares of the company’s stock, valued at $1,522,333.44. The trade was a 2.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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 Vikram Gupta sold 4,277 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $94.49, for a total transaction of $404,133.73. Following the completion of the sale, the insider owned 99,191 shares in the company, valued at $9,372,557.59. This represents a 4.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 15,951 shares of company stock worth $1,612,862 in the last quarter. Company insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Synaptics

Hedge funds have recently added to or reduced their stakes in the business. CoreCap Advisors LLC acquired a new position in shares of Synaptics during the 2nd quarter worth approximately $25,000. Allworth Financial LP acquired a new stake in Synaptics during the 2nd quarter valued at $33,000. Global Retirement Partners LLC acquired a new stake in Synaptics during the 2nd quarter valued at $61,000. State of Wyoming acquired a new stake in Synaptics during the 2nd quarter valued at $65,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Synaptics during the second quarter worth $73,000. 99.43% of the stock is currently owned by hedge funds and other institutional investors.

Synaptics Company Profile

Synaptics Incorporated (NASDAQ: SYNA) is a fabless semiconductor company that develops technologies enabling people to interact with digital devices. Its products combine sensing, processing, connectivity and artificial intelligence capabilities for consumer electronics, automotive systems and Internet of Things applications.

The company’s portfolio includes touch and display controllers, touchpads, fingerprint sensors, audio and voice-processing solutions, wireless connectivity products, and video and vision processors.