Mizuho Lowers Synaptics Incorporated (SYNA) to Neutral
Mizuho lowered shares of Synaptics Incorporated (NASDAQ:SYNA) from a buy rating to a neutral rating in a report published on Monday morning, Marketbeat Ratings reports. They currently have $42.00 target price on the software maker’s stock, down from their prior target price of $60.00.
Other equities research analysts have also issued reports about the stock. BidaskClub lowered shares of Synaptics from a sell rating to a strong sell rating in a report on Wednesday, August 23rd. Oppenheimer Holdings, Inc. reaffirmed an underperform rating and set a $35.00 price target on shares of Synaptics in a report on Thursday, September 14th. BMO Capital Markets decreased their price target on shares of Synaptics from $56.00 to $46.00 and set a market perform rating on the stock in a report on Friday, August 4th. Stifel Nicolaus reaffirmed a buy rating and set a $68.00 price target on shares of Synaptics in a report on Friday, July 28th. Finally, Cowen and Company set a $75.00 price target on shares of Synaptics and gave the company a buy rating in a report on Wednesday, August 2nd. Seven analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. Synaptics currently has a consensus rating of Hold and an average price target of $52.09.
Synaptics (SYNA) opened at 37.07 on Monday. Synaptics has a 52-week low of $36.36 and a 52-week high of $69.45. The firm has a 50-day moving average of $39.41 and a 200-day moving average of $49.12. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 27.06 and a beta of 1.20.
Synaptics (NASDAQ:SYNA) last released its earnings results on Thursday, August 3rd. The software maker reported $0.85 EPS for the quarter, beating the consensus estimate of $0.74 by $0.11. Synaptics had a net margin of 2.84% and a return on equity of 16.51%. The firm had revenue of $426.50 million for the quarter, compared to analyst estimates of $426.49 million. During the same period last year, the firm earned $0.46 EPS. The business’s quarterly revenue was up 31.7% compared to the same quarter last year. On average, equities research analysts forecast that Synaptics will post $4.48 EPS for the current fiscal year.
A number of large investors have recently bought and sold shares of SYNA. BlackRock Inc. boosted its position in Synaptics by 23,834.7% during the 1st quarter. BlackRock Inc. now owns 4,199,575 shares of the software maker’s stock worth $207,921,000 after buying an additional 4,182,029 shares during the period. Ameriprise Financial Inc. boosted its position in Synaptics by 16.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,048,535 shares of the software maker’s stock worth $261,064,000 after buying an additional 697,328 shares during the period. Koch Industries Inc. acquired a new stake in Synaptics during the 2nd quarter worth approximately $551,000. FMR LLC boosted its position in Synaptics by 387.8% during the 1st quarter. FMR LLC now owns 513,850 shares of the software maker’s stock worth $25,441,000 after buying an additional 408,500 shares during the period. Finally, Morgan Stanley boosted its position in Synaptics by 180.2% during the 1st quarter. Morgan Stanley now owns 610,070 shares of the software maker’s stock worth $30,206,000 after buying an additional 392,375 shares during the period. Institutional investors and hedge funds own 97.74% of the company’s stock.
Synaptics Incorporated is engaged in the development, marketing and sale of intuitive human interface solutions for electronic devices and products. The Company is a developer and supplier of custom-designed human interface product solutions that enable people to interact with a range of mobile computing, communications, entertainment and other electronic devices.
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