Synaptics Inc. (SYNA) Shares Down 4.6%
Synaptics Inc. (NASDAQ:SYNA)’s share price dropped 4.6% on Wednesday . The stock traded as low as $57.35 and last traded at $57.40, with a volume of 522,593 shares trading hands. The stock had previously closed at $60.15.
SYNA has been the topic of several recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $88.00 price objective on shares of Synaptics in a research note on Friday, June 17th. Cowen and Company restated a “buy” rating on shares of Synaptics in a research note on Friday, June 17th. Rosenblatt Securities restated a “buy” rating and set a $106.00 price objective on shares of Synaptics in a research note on Thursday, June 9th. JPMorgan Chase & Co. restated a “buy” rating on shares of Synaptics in a research note on Thursday, June 16th. Finally, Craig Hallum decreased their target price on Synaptics from $85.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, July 29th. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $76.33.
The company has a 50-day moving average of $54.55 and a 200 day moving average of $66.80. The company has a market capitalization of $2.03 billion and a price-to-earnings ratio of 30.12.
Synaptics (NASDAQ:SYNA) last released its earnings results on Thursday, July 28th. The company reported $0.46 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.46. The company earned $323.90 million during the quarter, compared to the consensus estimate of $318.48 million. The company’s revenue was down 32.4% compared to the same quarter last year. During the same period last year, the firm posted $1.57 earnings per share. Analysts expect that Synaptics Inc. will post $5.18 earnings per share for the current year.
In other news, insider Ritu Favre sold 3,259 shares of the company’s stock in a transaction on 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 $656,192.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP John Mcfarland sold 2,778 shares of the company’s stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $60.00, for a total value of $166,680.00. Following the transaction, the senior vice president now directly owns 10,226 shares in the company, valued at $613,560. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Synaptics stock. Morgan Stanley raised its position in shares of Synaptics Inc. (NASDAQ:SYNA) by 1.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 approximately 0.47% of Synaptics worth $13,764,000 as of its most recent SEC filing.
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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