Synaptics Inc. (SYNA) Shares Up 1.9%
Synaptics Inc. (NASDAQ:SYNA) shot up 1.9% during mid-day trading on Wednesday . The stock traded as high as $56.20 and last traded at $56.13, with a volume of 205,067 shares changing hands. The stock had previously closed at $55.08.
Several research firms have issued reports on SYNA. JPMorgan Chase & Co. reissued a “buy” rating and issued a $71.00 price objective on shares of Synaptics in a research report on Wednesday, July 20th. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of Synaptics in a research report on Sunday, July 10th. Needham & Company LLC reissued a “buy” rating and issued a $65.00 price objective (down from $88.00) on shares of Synaptics in a research report on Friday, July 29th. Cowen and Company reissued a “buy” rating on shares of Synaptics in a research report on Friday, June 17th. Finally, BMO Capital Markets cut shares of Synaptics from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $100.00 to $69.00 in a research report on Friday, April 29th. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Synaptics presently has a consensus rating of “Hold” and a consensus target price of $76.00.
The stock’s 50-day moving average price is $53.35 and its 200 day moving average price is $67.32. The company has a market cap of $1.95 billion and a price-to-earnings ratio of 29.05.
Synaptics (NASDAQ:SYNA) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.46 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.46. The business earned $323.90 million during the quarter, compared to analysts’ expectations of $318.48 million. During the same period in the previous year, the business posted $1.57 EPS. The company’s revenue for the quarter was down 32.4% compared to the same quarter last year. Equities research analysts expect that Synaptics Inc. will post $5.18 earnings per share for the current fiscal year.
In other news, insider Ritu Favre sold 3,259 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $53.09, for a total value of $173,020.31. Following the completion of the transaction, the insider now owns 12,360 shares of the company’s stock, valued at $656,192.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Rick Bergman sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 approximately $5,535,971.01. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Synaptics stock. Dimensional Fund Advisors LP raised its stake in shares of Synaptics Inc. (NASDAQ:SYNA) by 4.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 788,630 shares of the company’s stock after buying an additional 30,925 shares during the period. Dimensional Fund Advisors LP owned 2.15% of Synaptics worth $63,360,000 at the end of the most recent reporting 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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