Synaptics Inc. (SYNA) Rating Reiterated by Needham & Company LLC
Synaptics Inc. (NASDAQ:SYNA)‘s stock had its “buy” rating reissued by Needham & Company LLC in a research report issued on Friday. They currently have a $65.00 target price on the stock. Needham & Company LLC’s price target would indicate a potential downside of 3.37% from the stock’s previous close.
The analysts wrote, “Synaptics announced today that its TDDI technology has been selected for the Samsung On5 and On7 smartphones (currently available in China, Southwest Asia, and Africa). This week, SYNA has also announced a series of TouchView TDDI wins including Huawei’s Nova smartphones and Xiaomi’s Mi 5s/5s Plus. SYNA’s TouchView combines touchscreen controller and display driver IC into a single chip in order to provide a slimmer, cheaper, and faster-to-market solution. Last month, we hosted investor meetings with Mr. Wajid Ali, CFO, and came away with a positive view of SYNA’s TDDI growth opportunity.””
Other analysts have also recently issued reports about the company. Mizuho restated a “hold” rating on shares of Synaptics in a research report on Saturday, June 18th. KeyCorp reaffirmed a “hold” rating on shares of Synaptics in a research note on Wednesday, July 6th. TheStreet lowered Synaptics from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. Craig Hallum decreased their price target on Synaptics from $85.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, July 29th. Finally, Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Synaptics in a research note on Wednesday, June 15th. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $76.33.
Synaptics (NASDAQ:SYNA) opened at 67.27 on Friday. The company’s 50-day moving average price is $58.48 and its 200-day moving average price is $62.33. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of 35.22 and a beta of 1.76. Synaptics has a 12-month low of $47.09 and a 12-month high of $94.48.
Synaptics (NASDAQ:SYNA) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.46 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.46. The business had revenue of $323.90 million for the quarter, compared to analysts’ expectations of $318.48 million. Synaptics had a return on equity of 18.44% and a net margin of 4.33%. Synaptics’s quarterly revenue was down 32.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.57 earnings per share. Equities analysts expect that Synaptics will post $5.18 EPS for the current fiscal year.
In related news, SVP John Mcfarland sold 1,804 shares of the company’s stock in a transaction dated Thursday, October 6th. The stock was sold at an average price of $64.23, for a total value of $115,870.92. Following the completion of the sale, the senior vice president now owns 7,726 shares in the company, valued at $496,240.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rick Bergman sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $58.29, for a total value of $582,900.00. Following the completion of the sale, the insider now owns 82,491 shares of the company’s stock, valued at approximately $4,808,400.39. The disclosure for this sale can be found here. 3.60% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in SYNA. Investec Asset Management LTD increased its stake in Synaptics by 0.5% in the first quarter. Investec Asset Management LTD now owns 974,629 shares of the company’s stock worth $77,717,000 after buying an additional 5,116 shares in the last quarter. Menta Capital LLC acquired a new stake in shares of Synaptics during the first quarter valued at about $853,000. BlackRock Japan Co. Ltd increased its stake in shares of Synaptics by 990.2% in the first quarter. BlackRock Japan Co. Ltd now owns 4,023 shares of the company’s stock valued at $321,000 after buying an additional 3,654 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in shares of Synaptics by 1.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,054,010 shares of the company’s stock valued at $84,047,000 after buying an additional 13,657 shares during the period. Finally, BlackRock Group LTD increased its stake in shares of Synaptics by 20.4% in the first quarter. BlackRock Group LTD now owns 29,468 shares of the company’s stock valued at $2,350,000 after buying an additional 4,984 shares during the period. Institutional investors and hedge funds own 89.76% of the company’s stock.
Synaptics Company Profile
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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