Synaptics (NASDAQ:SYNA) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Thursday.
A number of other analysts also recently issued reports on the stock. Zacks Investment Research raised shares of Synaptics from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a report on Wednesday. Craig Hallum raised shares of Synaptics to a “buy” rating and set a $56.00 price target on the stock in a report on Wednesday, August 29th. Rosenblatt Securities set a $55.00 price target on shares of Synaptics and gave the company a “hold” rating in a report on Saturday, August 11th. Lake Street Capital reaffirmed a “hold” rating and set a $52.00 price target on shares of Synaptics in a report on Friday, August 10th. Finally, JPMorgan Chase & Co. raised their price target on shares of Synaptics from $52.00 to $55.00 and gave the company a “buy” rating in a report on Friday, August 10th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. Synaptics currently has an average rating of “Hold” and a consensus target price of $52.36.
Shares of NASDAQ SYNA opened at $37.14 on Thursday. The company has a current ratio of 2.61, a quick ratio of 2.14 and a debt-to-equity ratio of 0.62. The stock has a market cap of $1.61 billion, a PE ratio of 18.76, a P/E/G ratio of 1.57 and a beta of 0.77. Synaptics has a 52-week low of $33.73 and a 52-week high of $55.25.
Synaptics (NASDAQ:SYNA) last announced its quarterly earnings results on Thursday, August 9th. The software maker reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.09. The firm had revenue of $388.50 million for the quarter, compared to the consensus estimate of $391.75 million. Synaptics had a negative net margin of 7.61% and a positive return on equity of 11.07%. The business’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.18 EPS. On average, equities research analysts forecast that Synaptics will post 2.9 earnings per share for the current fiscal year.
In other news, insider Rick Bergman sold 20,000 shares of the stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $48.35, for a total value of $967,000.00. Following the transaction, the insider now owns 148,960 shares in the company, valued at approximately $7,202,216. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.70% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Synaptics in the 2nd quarter worth approximately $166,000. Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of Synaptics by 53.3% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,315 shares of the software maker’s stock worth $197,000 after purchasing an additional 1,500 shares during the period. Xact Kapitalforvaltning AB bought a new position in shares of Synaptics in the 1st quarter worth approximately $226,000. NJ State Employees Deferred Compensation Plan bought a new position in shares of Synaptics in the 2nd quarter worth approximately $252,000. Finally, LPL Financial LLC bought a new position in shares of Synaptics in the 1st quarter worth approximately $301,000. Hedge funds and other institutional investors own 98.20% of the company’s stock.
Synaptics Company Profile
Synaptics Incorporated develops, markets, and sells intuitive human interface solutions for electronic devices and products worldwide. The company offers its products and solutions for smartphones, tablets, and touchscreen applications, as well as mobile, handheld, wireless, and entertainment devices; notebook applications; and other personal computer (PC) product applications.
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