Synaptics Incorporated (NASDAQ:SYNA) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Synaptics Incorporated (NASDAQ:SYNA) have been assigned an average rating of “Moderate Buy” from the nine research firms that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $122.67.

Several brokerages have issued reports on SYNA. Mizuho lowered their target price on Synaptics from $127.00 to $124.00 and set a “buy” rating on the stock in a research note on Friday, February 9th. Craig Hallum downgraded shares of Synaptics from a “buy” rating to a “hold” rating and set a $105.00 price objective on the stock. in a report on Friday, February 9th. StockNews.com upgraded shares of Synaptics from a “sell” rating to a “hold” rating in a research report on Monday, February 12th. KeyCorp boosted their price target on shares of Synaptics from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. Finally, Needham & Company LLC raised their price objective on shares of Synaptics from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, February 9th.

Insider Buying and Selling at Synaptics

In related news, insider Vikram Gupta sold 3,616 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $105.75, for a total value of $382,392.00. Following the sale, the insider now owns 31,847 shares in the company, valued at $3,367,820.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Synaptics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Signaturefd LLC increased its holdings in shares of Synaptics by 711.8% in the 3rd quarter. Signaturefd LLC now owns 276 shares of the software maker’s stock worth $25,000 after buying an additional 242 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in Synaptics in the third quarter worth $31,000. Fifth Third Bancorp increased its stake in Synaptics by 92.4% in the third quarter. Fifth Third Bancorp now owns 433 shares of the software maker’s stock valued at $39,000 after acquiring an additional 208 shares during the last quarter. Headinvest LLC purchased a new stake in Synaptics during the third quarter valued at about $40,000. Finally, Covestor Ltd lifted its stake in Synaptics by 180.3% during the third quarter. Covestor Ltd now owns 639 shares of the software maker’s stock worth $57,000 after purchasing an additional 411 shares during the last quarter. 99.43% of the stock is owned by hedge funds and other institutional investors.

Synaptics Price Performance

Shares of NASDAQ:SYNA opened at $90.31 on Friday. Synaptics has a fifty-two week low of $67.73 and a fifty-two week high of $121.37. The company’s 50-day moving average is $95.23 and its 200 day moving average is $100.85. The company has a debt-to-equity ratio of 0.79, a quick ratio of 4.04 and a current ratio of 4.53. The company has a market capitalization of $3.55 billion, a P/E ratio of -45.38 and a beta of 1.59.

Synaptics (NASDAQ:SYNA) last released its earnings results on Thursday, February 8th. The software maker reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.11. The firm had revenue of $237.00 million for the quarter, compared to analysts’ expectations of $235.26 million. Synaptics had a negative net margin of 7.54% and a positive return on equity of 3.01%. The company’s quarterly revenue was down 32.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.47 earnings per share. On average, equities research analysts forecast that Synaptics will post -0.48 earnings per share for the current year.

About Synaptics

Synaptics Incorporated develops, markets, and sells semiconductor products worldwide. The company offers AudioSmart for voice and audio processing; ConnectSmart for high-speed video/audio/data connectivity; DisplayLink for transmitting compressed video frames across low bandwidth connections; VideoSmart that enables set-top boxes, over-the-top, streaming devices, soundbars, surveillance cameras, and smart displays; and ImagingSmart solutions.