Synaptics Inc. (SYNA) Shares Up 3.3%
Synaptics Inc. (NASDAQ:SYNA)’s share price rose 3.3% during trading on Tuesday . The company traded as high as $61.54 and last traded at $60.21, with a volume of 720,020 shares traded. The stock had previously closed at $58.27.
Several equities research analysts have recently commented on SYNA shares. Mizuho cut their price objective on shares of Synaptics from $75.00 to $68.00 and set a “neutral” rating for the company in a report on Thursday, June 16th. Lake Street Capital cut shares of Synaptics from a “buy” rating to a “hold” rating and cut their target price for the stock from $74.00 to $57.00 in a research note on Wednesday, July 6th. Zacks Investment Research raised shares of Synaptics from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Tuesday. JPMorgan Chase & Co. reissued a “buy” rating and set a $71.00 target price on shares of Synaptics in a research note on Wednesday, July 20th. Finally, Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of Synaptics in a research note on Sunday, July 10th. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $76.33.
The firm has a market cap of $2.12 billion and a PE ratio of 31.49. The firm’s 50-day moving average price is $53.80 and its 200 day moving average price is $67.03.
Synaptics (NASDAQ:SYNA) last issued its earnings results on Thursday, July 28th. The company reported $0.46 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.46. The business earned $323.90 million during the quarter, compared to analyst estimates of $318.48 million. Synaptics’s revenue for the quarter was down 32.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.57 EPS. Equities analysts predict that Synaptics Inc. will post $5.18 EPS for the current year.
In related news, insider Ritu Favre sold 3,259 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The stock was 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 directly owns 12,360 shares of the company’s stock, valued at $656,192.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Rick Bergman sold 10,000 shares of the firm’s stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $67.11, for a total value 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 $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 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 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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