Synaptics (SYNA) Trading 5.7% Higher
Synaptics Incorporated (NASDAQ:SYNA)’s share price traded up 5.7% on Thursday . The company traded as high as $41.53 and last traded at $41.41. 1,851,800 shares changed hands during trading, an increase of 106% from the average session volume of 900,185 shares. The stock had previously closed at $39.16.
A number of equities analysts have recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $55.00 price target on shares of Synaptics in a research note on Wednesday. Oppenheimer raised shares of Synaptics from an “underperform” rating to a “market perform” rating in a research note on Friday, December 8th. UBS raised shares of Synaptics from an “underperform” rating to a “market perform” rating in a research note on Friday, December 8th. KeyCorp reaffirmed a “hold” rating on shares of Synaptics in a research note on Sunday, November 19th. Finally, Craig Hallum reaffirmed a “buy” rating and set a $43.00 price target (down from $55.00) on shares of Synaptics in a research note on Wednesday, November 8th. Six equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $48.03.
The company has a quick ratio of 1.70, a current ratio of 2.35 and a debt-to-equity ratio of 0.59. The firm has a market cap of $1,380.00, a PE ratio of 11.98, a P/E/G ratio of 0.93 and a beta of 1.19.
Synaptics (NASDAQ:SYNA) last released its quarterly earnings data on Tuesday, November 7th. The software maker reported $1.03 EPS for the quarter, topping the consensus estimate of $0.57 by $0.46. Synaptics had a net margin of 1.06% and a return on equity of 15.85%. The business had revenue of $417.40 million for the quarter, compared to analyst estimates of $398.68 million. During the same period in the previous year, the firm earned $1.03 EPS. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. equities analysts forecast that Synaptics Incorporated will post 2.8 earnings per share for the current fiscal year.
In other Synaptics news, CFO Wajid Ali sold 2,918 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $41.75, for a total value of $121,826.50. Following the transaction, the chief financial officer now directly owns 27,281 shares in the company, valued at approximately $1,138,981.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Rick Bergman sold 2,000 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $40.00, for a total transaction of $80,000.00. Following the completion of the transaction, the insider now owns 130,307 shares in the company, valued at $5,212,280. The disclosure for this sale can be found here. 3.70% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. lifted its holdings in Synaptics by 16.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,048,535 shares of the software maker’s stock valued at $261,064,000 after purchasing an additional 697,328 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Synaptics by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 4,228,015 shares of the software maker’s stock valued at $218,630,000 after purchasing an additional 110,567 shares in the last quarter. State Street Corp lifted its holdings in Synaptics by 0.6% in the 2nd quarter. State Street Corp now owns 1,313,469 shares of the software maker’s stock valued at $67,921,000 after purchasing an additional 8,390 shares in the last quarter. Lord Abbett & CO. LLC lifted its holdings in Synaptics by 2.3% in the 2nd quarter. Lord Abbett & CO. LLC now owns 1,244,747 shares of the software maker’s stock valued at $64,366,000 after purchasing an additional 27,878 shares in the last quarter. Finally, State of Tennessee Treasury Department lifted its holdings in Synaptics by 35.3% in the 3rd quarter. State of Tennessee Treasury Department now owns 1,232,000 shares of the software maker’s stock valued at $48,270,000 after purchasing an additional 321,537 shares in the last quarter. Institutional investors own 97.74% of the company’s stock.
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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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