Wells Fargo & Company Cuts Synaptics (NASDAQ:SYNA) Price Target to $140.00

Synaptics (NASDAQ:SYNA) had its price objective reduced by Wells Fargo & Company from $160.00 to $140.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the software maker’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 31.64% from the stock’s previous close.

A number of other brokerages have also weighed in on SYNA. Susquehanna lowered their target price on Synaptics from $140.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 21st. Rosenblatt Securities reduced their price target on shares of Synaptics from $160.00 to $115.00 and set a “neutral” rating for the company in a research report on Friday. Northland Securities lowered shares of Synaptics from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 26th. Weiss Ratings restated a “sell (d)” rating on shares of Synaptics in a report on Friday, July 17th. Finally, TD Cowen lowered shares of Synaptics from a “buy” rating to a “hold” rating in a research note on Friday, June 26th. Three analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Synaptics currently has a consensus rating of “Hold” and an average price target of $127.55.

Synaptics Stock Up 4.2%

Shares of SYNA stock traded up $4.25 on Friday, reaching $106.35. 135,247 shares of the company were exchanged, compared to its average volume of 903,027. The company has a market cap of $4.11 billion, a price-to-earnings ratio of -85.73 and a beta of 1.99. The company has a 50-day moving average of $124.23 and a 200-day moving average of $102.04. 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 has a one year low of $58.28 and a one year high of $149.11.

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

Insider Transactions at Synaptics

In related news, insider Esther Song sold 8,833 shares of the company’s stock in a transaction 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 sale, the insider owned 12,421 shares in the company, valued at approximately $1,753,472.57. This represents a 41.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vikram Gupta sold 360 shares of the stock in a transaction on Monday, July 27th. The shares were sold at an average price of $114.20, for a total value of $41,112.00. Following the completion of the sale, the insider directly owned 81,226 shares of the company’s stock, valued at $9,276,009.20. The trade was a 0.44% decrease in their ownership of the stock. 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 sold a total of 11,649 shares of company stock valued at $1,603,484 over the last ninety days. 0.50% of the stock is currently owned by insiders.

Institutional Trading of Synaptics

Institutional investors have recently made changes to their positions in the company. CoreCap Advisors LLC purchased a new stake in shares of Synaptics in the second quarter valued at about $25,000. CIBC Private Wealth Group LLC boosted its holdings in Synaptics by 119.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 349 shares of the software maker’s stock worth $26,000 after purchasing an additional 190 shares during the last quarter. Global Retirement Partners LLC purchased a new position in Synaptics during the second quarter worth about $61,000. State of Wyoming bought a new stake in Synaptics in the 2nd quarter worth about $65,000. Finally, Leonteq Securities AG purchased a new stake in Synaptics in the 4th quarter valued at about $43,000. Institutional investors own 99.43% of the company’s stock.

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.