Synaptics Inc. (SYNA) Reaches New 1-Year Low at $47.09
Synaptics Inc. (NASDAQ:SYNA)’s share price hit a new 52-week low during trading on Wednesday . The company traded as low as $47.09 and last traded at $48.39, with a volume of 993,492 shares. The stock had previously closed at $49.51.
A number of brokerages have recently commented on SYNA. Cross Research lowered shares of Synaptics from a “buy” rating to a “hold” rating in a report on Friday, April 15th. Pacific Crest reiterated a “hold” rating and set a $75.00 price target on shares of Synaptics in a report on Thursday, April 14th. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Synaptics in a report on Friday, April 29th. Needham & Company LLC reiterated a “buy” rating on shares of Synaptics in a report on Friday, April 29th. Finally, Craig Hallum reiterated a “buy” rating and set a $85.00 price target (down previously from $90.00) on shares of Synaptics in a report on Friday, April 29th. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $80.38.
The firm has a market capitalization of $1.78 billion and a P/E ratio of 16.71. The company has a 50 day moving average of $59.68 and a 200-day moving average of $72.05.
Synaptics (NASDAQ:SYNA) last announced its quarterly earnings results on Thursday, April 28th. The company reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.51 by $0.30. During the same quarter in the previous year, the business posted $1.65 earnings per share. The business had revenue of $402.50 million for the quarter, compared to analyst estimates of $450.69 million. The firm’s revenue was down 15.7% on a year-over-year basis. On average, analysts anticipate that Synaptics Inc. will post $4.77 EPS for the current year.
In other Synaptics news, CEO Rick Bergman sold 10,000 shares of the firm’s stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $67.11, for a total value of $671,100.00. Following the sale, the chief executive officer now owns 82,491 shares of the company’s stock, valued at approximately $5,535,971.01. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
A number of large investors have recently made changes to their positions in the company. Mutual of America Capital Management LLC raised its stake in shares of Synaptics by 2.3% in the fourth quarter. Mutual of America Capital Management LLC now owns 45,198 shares of the company’s stock worth $3,631,000 after buying an additional 1,029 shares during the period. Liberty Mutual Group Asset Management Inc. boosted its stake in Synaptics by 51.3% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 23,492 shares of the company’s stock valued at $1,888,000 after buying an additional 7,963 shares in the last quarter. Todd Asset Management LLC boosted its stake in Synaptics by 2.0% in the fourth quarter. Todd Asset Management LLC now owns 412,006 shares of the company’s stock valued at $33,101,000 after buying an additional 8,175 shares in the last quarter. Artemis Investment Management LLP bought a new stake in Synaptics during the fourth quarter valued at approximately $14,885,000. Finally, Mitchell Capital Management Co. boosted its stake in Synaptics by 1.5% in the fourth quarter. Mitchell Capital Management Co. now owns 115,535 shares of the company’s stock valued at $9,282,000 after buying an additional 1,723 shares in the last quarter.
Synaptics Incorporated developer and supplier of custom-designed human interface solutions that enable people to interact more easily and intuitively with a wide variety of mobile computing, communications, entertainment, and other electronic devices. The portfolio includes Display Driver ICs (DDICs) which drive high-performance displays for smartphones and tablets.
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