Synaptics Inc. (SYNA) Shares Down 1.1%
Synaptics Inc. (NASDAQ:SYNA)’s share price fell 1.1% on Wednesday . The stock traded as low as $50.20 and last traded at $51.20, with a volume of 475,104 shares trading hands. The stock had previously closed at $51.75.
Several brokerages recently weighed in on SYNA. Mizuho restated a “hold” rating on shares of Synaptics in a research note on Saturday, June 18th. Needham & Company LLC reiterated a “buy” rating on shares of Synaptics in a report on Friday, April 29th. KeyCorp reiterated a “hold” rating on shares of Synaptics in a report on Wednesday, July 6th. Zacks Investment Research cut Synaptics from a “hold” rating to a “strong sell” rating in a report on Thursday, May 5th. Finally, Craig Hallum reiterated a “buy” rating and issued a $85.00 price objective (down from $90.00) on shares of Synaptics in a report on Friday, April 29th. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $78.92.
The company’s 50-day moving average price is $55.42 and its 200-day moving average price is $69.98. The firm has a market cap of $1.90 billion and a PE ratio of 17.80.
Synaptics (NASDAQ:SYNA) last posted its quarterly earnings results on Thursday, April 28th. The company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.51 by $0.30. The company had revenue of $402.50 million for the quarter, compared to analysts’ expectations of $450.69 million. During the same period in the prior year, the company earned $1.65 earnings per share. The firm’s quarterly revenue was down 15.7% compared to the same quarter last year. On average, equities analysts anticipate that Synaptics Inc. will post $4.77 EPS for the current fiscal year.
In related news, CEO Rick Bergman sold 10,000 shares of the stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $67.11, for a total transaction of $671,100.00. Following the completion of the transaction, the chief executive officer now directly owns 82,491 shares of the company’s stock, valued at $5,535,971.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
A number of hedge funds and institutional investors recently modified their holdings of the stock. State of Tennessee Treasury Department boosted its position in shares of Synaptics by 19.4% in the fourth quarter. State of Tennessee Treasury Department now owns 1,039,996 shares of the company’s stock worth $83,553,000 after buying an additional 169,312 shares during the period. Employees Retirement System of Texas boosted its position in shares of Synaptics by 38.3% in the fourth quarter. Employees Retirement System of Texas now owns 65,000 shares of the company’s stock worth $5,222,000 after buying an additional 18,000 shares during the period. TrimTabs Asset Management LLC bought a new position in shares of Synaptics during the fourth quarter worth about $2,073,000. Dimensional Fund Advisors LP boosted its position in shares of Synaptics by 4.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 788,630 shares of the company’s stock worth $63,360,000 after buying an additional 30,925 shares during the period. Finally, Redwood Investments LLC boosted its position in shares of Synaptics by 22.1% in the fourth quarter. Redwood Investments LLC now owns 18,107 shares of the company’s stock worth $1,455,000 after buying an additional 3,277 shares during the period.
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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