Synaptics Inc. (SYNA) Sees Unusually-High Trading Volume
Synaptics Inc. (NASDAQ:SYNA) shares saw unusually-high trading volume on Monday . Approximately 375,617 shares changed hands during mid-day trading, a decline of 17% from the previous session’s volume of 453,588 shares.The stock last traded at $57.50 and had previously closed at $55.60.
SYNA has been the subject of a number of analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $106.00 price target on shares of Synaptics in a research note on Thursday, June 9th. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of Synaptics in a research note on Sunday, July 10th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $71.00 price target on shares of Synaptics in a research note on Wednesday, July 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $65.00 price target (down previously from $88.00) on shares of Synaptics in a research note on Friday, July 29th. Finally, Zacks Investment Research downgraded Synaptics from a “buy” rating to a “hold” rating in a research note on Saturday, July 9th. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $76.00.
The company’s 50 day moving average is $53.80 and its 200 day moving average is $67.03. The company has a market cap of $2.05 billion and a price-to-earnings ratio of 30.51.
Synaptics (NASDAQ:SYNA) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.46 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.46. The firm had revenue of $323.90 million for the quarter, compared to analysts’ expectations of $318.48 million. The business’s quarterly revenue was down 32.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.57 earnings per share. On average, equities analysts predict that Synaptics Inc. will post $5.18 EPS for the current fiscal year.
In related news, insider Ritu Favre sold 3,259 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $53.09, for a total transaction of $173,020.31. Following the transaction, the insider now directly owns 12,360 shares of the company’s stock, valued at approximately $656,192.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Rick Bergman sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $67.11, for a total value of $671,100.00. Following the transaction, the chief executive officer now directly owns 82,491 shares in the company, valued at $5,535,971.01. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Synaptics stock. Morgan Stanley increased its position in Synaptics Inc. (NASDAQ:SYNA) by 1.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 171,321 shares of the company’s stock after buying an additional 1,910 shares during the period. Morgan Stanley owned about 0.47% of Synaptics worth $13,764,000 at the end of the most recent 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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