Synaptics (SYNA) Lowered to Hold at ValuEngine
Synaptics (NASDAQ:SYNA) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Saturday.
Other equities analysts have also recently issued research reports about the company. KeyCorp raised Synaptics from a “sector weight” rating to an “overweight” rating in a report on Friday. Needham & Company LLC restated a “buy” rating and set a $55.00 price objective on shares of Synaptics in a research report on Wednesday, December 13th. Oppenheimer restated a “sell” rating and set a $35.00 price objective on shares of Synaptics in a research report on Wednesday, November 8th. UBS Group upgraded Synaptics from an “underperform” rating to a “market perform” rating in a research report on Friday, December 8th. Finally, Zacks Investment Research lowered Synaptics from a “buy” rating to a “hold” rating in a research report on Tuesday, October 24th. Six equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. Synaptics has an average rating of “Hold” and an average target price of $48.03.
Synaptics (NASDAQ:SYNA) opened at $49.76 on Friday. The company has a current ratio of 2.35, a quick ratio of 1.70 and a debt-to-equity ratio of 0.59. Synaptics has a fifty-two week low of $33.73 and a fifty-two week high of $64.54. The company has a market capitalization of $1,680.00, a price-to-earnings ratio of 103.67, a PEG ratio of 1.01 and a beta of 1.20.
Synaptics (NASDAQ:SYNA) last posted its quarterly earnings results on Tuesday, November 7th. The software maker reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.46. Synaptics had a return on equity of 15.85% and a net margin of 1.06%. The company had revenue of $417.40 million during the quarter, compared to analysts’ expectations of $398.68 million. During the same quarter in the previous year, the firm earned $1.03 EPS. Synaptics’s revenue was up 8.1% on a year-over-year basis. research analysts expect that Synaptics will post 2.8 earnings per share for the current fiscal year.
In other news, insider Rick Bergman sold 2,000 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $40.00, for a total value of $80,000.00. Following the transaction, the insider now directly owns 130,307 shares of the company’s stock, valued at approximately $5,212,280. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Wajid Ali sold 2,918 shares of the business’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 completion of the transaction, the chief financial officer now directly owns 27,281 shares in the company, valued at $1,138,981.75. The disclosure for this sale can be found here. 3.70% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio raised its stake in Synaptics by 49.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 87,378 shares of the software maker’s stock worth $3,423,000 after buying an additional 29,010 shares during the period. Jane Street Group LLC raised its stake in Synaptics by 100.4% during the 3rd quarter. Jane Street Group LLC now owns 9,075 shares of the software maker’s stock worth $356,000 after buying an additional 4,547 shares during the period. Cornerstone Capital Management Holdings LLC. raised its stake in Synaptics by 305.3% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 48,321 shares of the software maker’s stock worth $1,893,000 after buying an additional 36,400 shares during the period. Engineers Gate Manager LP raised its stake in Synaptics by 186.4% during the 3rd quarter. Engineers Gate Manager LP now owns 88,192 shares of the software maker’s stock worth $3,455,000 after buying an additional 57,402 shares during the period. Finally, Stifel Financial Corp raised its stake in Synaptics by 35.8% during the 3rd quarter. Stifel Financial Corp now owns 44,666 shares of the software maker’s stock worth $1,762,000 after buying an additional 11,776 shares during the period. 97.74% of the stock is currently owned by institutional investors and hedge funds.
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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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