Synaptics Inc. (SYNA) Lifted to Buy at Mizuho
Mizuho upgraded shares of Synaptics Inc. (NASDAQ:SYNA) from a neutral rating to a buy rating in a research note issued to investors on Thursday morning. The firm currently has $74.00 price objective on the stock, up from their prior price objective of $58.00.
Other equities analysts also recently issued reports about the stock. Craig Hallum decreased their price target on shares of Synaptics from $85.00 to $70.00 and set a buy rating on the stock in a research note on Friday, July 29th. JPMorgan Chase & Co. reissued 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 reissued a buy rating and issued a $65.00 price target (down from $88.00) on shares of Synaptics in a research note on Friday, July 29th. Cowen and Company reissued a buy rating on shares of Synaptics in a research note on Friday, June 17th. Finally, Zacks Investment Research raised shares of Synaptics from a hold rating to a buy rating and set a $61.00 price target on the stock in a research note on Thursday, August 4th. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $76.83.
Synaptics (NASDAQ:SYNA) opened at 65.67 on Thursday. The firm has a 50-day moving average of $59.97 and a 200-day moving average of $62.04. The company has a market capitalization of $2.29 billion, a P/E ratio of 34.38 and a beta of 1.76. Synaptics has a 52 week low of $47.09 and a 52 week high of $94.48.
Synaptics (NASDAQ:SYNA) last announced its earnings results on Thursday, July 28th. The company reported $0.46 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.46. Synaptics had a net margin of 4.33% and a return on equity of 18.44%. The business had revenue of $323.90 million for the quarter, compared to analyst estimates of $318.48 million. During the same quarter last year, the business earned $1.57 earnings per share. The company’s revenue for the quarter was down 32.4% compared to the same quarter last year. Analysts anticipate that Synaptics will post $5.18 EPS for the current fiscal year.
In other Synaptics news, insider Rick Bergman sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $58.29, for a total transaction of $582,900.00. Following the completion of the transaction, the insider now owns 82,491 shares in the company, valued at approximately $4,808,400.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ritu Favre sold 3,259 shares of the business’s stock in a transaction that occurred 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 owns 12,360 shares of the company’s stock, valued at approximately $656,192.40. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Sandy Spring Bank boosted its position in Synaptics by 5.4% in the second quarter. Sandy Spring Bank now owns 1,950 shares of the company’s stock valued at $105,000 after buying an additional 100 shares during the period. Acrospire Investment Management LLC boosted its position in Synaptics by 150.0% in the second quarter. Acrospire Investment Management LLC now owns 2,000 shares of the company’s stock valued at $108,000 after buying an additional 1,200 shares during the period. LS Investment Advisors LLC boosted its position in Synaptics by 70.4% in the second quarter. LS Investment Advisors LLC now owns 2,178 shares of the company’s stock valued at $117,000 after buying an additional 900 shares during the period. Kempen Capital Management N.V. purchased a new position in Synaptics during the second quarter valued at approximately $148,000. Finally, DIAM Co. Ltd. purchased a new position in Synaptics during the second quarter valued at approximately $149,000. Institutional investors own 89.82% 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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