Synaptics (NASDAQ:SYNA) Given New $110.00 Price Target at Needham & Company LLC

Synaptics (NASDAQ:SYNA) had its price target cut by stock analysts at Needham & Company LLC from $125.00 to $110.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 20.01% from the company’s previous close.

SYNA has been the topic of several other research reports. Mizuho dropped their target price on shares of Synaptics from $127.00 to $124.00 and set a “buy” rating on the stock in a research report on Friday, February 9th. TD Cowen dropped their price objective on shares of Synaptics from $135.00 to $115.00 and set a “buy” rating on the stock in a report on Friday. Craig Hallum lowered Synaptics from a “buy” rating to a “hold” rating and set a $105.00 target price for the company. in a research note on Friday, February 9th. Rosenblatt Securities boosted their price target on Synaptics from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Finally, KeyCorp raised their price objective on Synaptics from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $118.78.

Synaptics Stock Performance

Shares of SYNA opened at $91.66 on Friday. The company has a current ratio of 4.53, a quick ratio of 4.04 and a debt-to-equity ratio of 0.79. The firm has a market cap of $3.60 billion, a PE ratio of -46.06 and a beta of 1.59. Synaptics has a 12 month low of $72.64 and a 12 month high of $121.37. The stock has a fifty day moving average price of $94.43 and a 200-day moving average price of $100.75.

Synaptics (NASDAQ:SYNA) last released its quarterly earnings results on Thursday, May 9th. The software maker reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. Synaptics had a positive return on equity of 3.01% and a negative net margin of 7.54%. The company had revenue of $237.30 million during the quarter, compared to analysts’ expectations of $235.17 million. During the same period last year, the business posted $1.14 earnings per share. The firm’s revenue was down 27.3% compared to the same quarter last year. Equities research analysts predict that Synaptics will post -0.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Vikram Gupta sold 3,616 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $105.75, for a total value of $382,392.00. Following the completion of the transaction, the insider now directly owns 31,847 shares in the company, valued at approximately $3,367,820.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Synaptics

A number of institutional investors have recently modified their holdings of the business. US Bancorp DE grew its holdings in Synaptics by 3.5% in the first quarter. US Bancorp DE now owns 3,603 shares of the software maker’s stock valued at $352,000 after purchasing an additional 123 shares during the period. CWM LLC grew its stake in Synaptics by 26.0% in the 1st quarter. CWM LLC now owns 673 shares of the software maker’s stock valued at $66,000 after acquiring an additional 139 shares during the period. Bridge City Capital LLC increased its holdings in Synaptics by 0.8% in the 1st quarter. Bridge City Capital LLC now owns 19,092 shares of the software maker’s stock worth $1,863,000 after acquiring an additional 149 shares in the last quarter. Russell Investments Group Ltd. raised its position in Synaptics by 0.3% during the first quarter. Russell Investments Group Ltd. now owns 48,665 shares of the software maker’s stock worth $4,748,000 after acquiring an additional 163 shares during the period. Finally, Diversified Trust Co raised its position in Synaptics by 5.8% during the fourth quarter. Diversified Trust Co now owns 3,332 shares of the software maker’s stock worth $380,000 after acquiring an additional 184 shares during the period. 99.43% of the stock is currently owned by institutional investors and hedge funds.

Synaptics Company Profile

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.