Zacks Investment Research upgraded shares of Synaptics (NASDAQ:SYNA) from a hold rating to a buy rating in a research note issued to investors on Saturday. The brokerage currently has $43.00 price target on the software maker’s stock.
According to Zacks, “Synaptics is a leader in designing and marketing human interface solutions such as touchpads for notebook computers, capactive touch screen controllers for handsets and biometric fingerprint sensors for mobile devices. “
Other research analysts have also recently issued reports about the stock. ValuEngine raised shares of Synaptics from a sell rating to a hold rating in a report on Saturday, December 15th. BidaskClub raised shares of Synaptics from a strong sell rating to a sell rating in a report on Friday, November 16th. Craig Hallum lowered their price target on shares of Synaptics from $56.00 to $50.00 and set a buy rating on the stock in a report on Friday, November 9th. Susquehanna Bancshares began coverage on shares of Synaptics in a report on Friday, December 7th. They issued a neutral rating and a $38.00 price target on the stock. Finally, TheStreet cut shares of Synaptics from a c- rating to a d+ rating in a report on Friday, October 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Synaptics currently has a consensus rating of Hold and a consensus price target of $52.00.
Shares of SYNA stock traded up $0.76 on Friday, reaching $39.53. The stock had a trading volume of 216,531 shares, compared to its average volume of 428,544. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.93 and a current ratio of 2.42. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 2.71 and a beta of 0.82. Synaptics has a 12 month low of $33.54 and a 12 month high of $55.25.
Synaptics (NASDAQ:SYNA) last issued its earnings results on Thursday, November 8th. The software maker reported $1.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.10. 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 5.75% and a positive return on equity of 12.96%. Synaptics’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 EPS. Sell-side analysts predict that Synaptics will post 2.92 EPS for the current fiscal year.
In other Synaptics news, insider Kevin D. Barber sold 12,865 shares of the stock in a transaction that occurred on Monday, November 12th. The shares were sold at an average price of $34.69, for a total transaction of $446,286.85. Following the transaction, the insider now owns 14,001 shares in the company, valued at approximately $485,694.69. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.70% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of SYNA. FMR LLC boosted its position in shares of Synaptics by 35.6% during the 2nd quarter. FMR LLC now owns 1,007,800 shares of the software maker’s stock worth $50,763,000 after acquiring an additional 264,700 shares in the last quarter. BB&T Securities LLC acquired a new stake in shares of Synaptics during the 2nd quarter worth approximately $309,000. MetLife Investment Advisors LLC boosted its position in shares of Synaptics by 6.5% during the 2nd quarter. MetLife Investment Advisors LLC now owns 38,745 shares of the software maker’s stock worth $1,952,000 after acquiring an additional 2,353 shares in the last quarter. Millennium Management LLC boosted its position in shares of Synaptics by 39.4% during the 2nd quarter. Millennium Management LLC now owns 425,432 shares of the software maker’s stock worth $21,429,000 after acquiring an additional 120,346 shares in the last quarter. Finally, California Public Employees Retirement System boosted its position in shares of Synaptics by 25.1% during the 2nd quarter. California Public Employees Retirement System now owns 99,735 shares of the software maker’s stock worth $5,024,000 after acquiring an additional 20,022 shares in the last quarter. Institutional investors and hedge funds own 97.04% of the company’s stock.
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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