Synaptics (NASDAQ:SYNA) announced its quarterly earnings results on Thursday. The software maker reported $1.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.10, RTT News reports. The company had revenue of $417.60 million for the quarter, compared to analysts’ expectations of $410.60 million. Synaptics had a negative net margin of 7.61% and a positive return on equity of 11.07%. Synaptics’s revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.03 EPS.
SYNA opened at $36.91 on Friday. 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 $1.26 billion, a price-to-earnings ratio of 18.64, a P/E/G ratio of 1.24 and a beta of 0.94. Synaptics has a 52-week low of $34.66 and a 52-week high of $55.25.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its stake in Synaptics by 6.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,991,758 shares of the software maker’s stock valued at $100,324,000 after acquiring an additional 120,802 shares during the period. FMR LLC lifted its stake in Synaptics by 35.6% during the 2nd quarter. FMR LLC now owns 1,007,800 shares of the software maker’s stock valued at $50,763,000 after acquiring an additional 264,700 shares during the period. Fisher Asset Management LLC bought a new position in Synaptics during the 2nd quarter valued at about $47,293,000. Victory Capital Management Inc. lifted its stake in Synaptics by 38.0% during the 3rd quarter. Victory Capital Management Inc. now owns 800,063 shares of the software maker’s stock valued at $36,499,000 after acquiring an additional 220,152 shares during the period. Finally, Millennium Management LLC lifted its stake in Synaptics by 39.4% during the 2nd quarter. Millennium Management LLC now owns 425,432 shares of the software maker’s stock valued at $21,429,000 after acquiring an additional 120,346 shares during the period. Institutional investors and hedge funds own 98.32% of the company’s stock.
SYNA has been the topic of a number of analyst reports. Craig Hallum reiterated a “buy” rating and issued a $56.00 price target (up previously from $51.00) on shares of Synaptics in a research note on Friday, August 10th. JPMorgan Chase & Co. upped their price target on shares of Synaptics from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, August 10th. Needham & Company LLC upped their price target on shares of Synaptics from $52.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, August 10th. Zacks Investment Research upgraded shares of Synaptics from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research note on Wednesday, October 10th. Finally, TheStreet cut shares of Synaptics from a “c-” rating to a “d+” rating in a research note on Friday, October 19th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. Synaptics presently has an average rating of “Hold” and a consensus target price of $53.50.
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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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