Synaptics (SYNA) PT Lowered to $57.00
Synaptics (NASDAQ:SYNA) had its price objective cut by equities researchers at Stifel Nicolaus from $59.00 to $57.00 in a research note issued on Thursday. The firm currently has a “buy” rating on the software maker’s stock. Stifel Nicolaus’ target price indicates a potential upside of 39.02% from the company’s current price.
Several other research firms have also weighed in on SYNA. ValuEngine lowered shares of Synaptics from a “buy” rating to a “hold” rating in a report on Saturday, January 13th. KeyCorp upgraded shares of Synaptics from a “sector weight” rating to an “overweight” rating in a report on Friday, January 12th. Craig Hallum restated a “buy” rating and set a $43.00 target price (down previously from $55.00) on shares of Synaptics in a report on Wednesday, November 8th. Oppenheimer restated a “sell” rating and set a $35.00 target price on shares of Synaptics in a report on Wednesday, November 8th. Finally, Needham & Company LLC restated a “buy” rating and set a $55.00 target price on shares of Synaptics in a report on Wednesday, December 13th. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Synaptics currently has an average rating of “Hold” and a consensus price target of $47.23.
Shares of Synaptics (NASDAQ SYNA) opened at $41.00 on Thursday. Synaptics has a 12 month low of $33.73 and a 12 month high of $64.54. The stock has a market cap of $1,393.59, a price-to-earnings ratio of 83.68, a PEG ratio of 0.98 and a beta of 1.12. The company has a current ratio of 2.35, a quick ratio of 1.70 and a debt-to-equity ratio of 0.59.
In other Synaptics news, CEO Rick Bergman sold 20,000 shares of the business’s stock in a transaction on Friday, January 12th. The shares were sold at an average price of $50.00, for a total value of $1,000,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders sold a total of 22,100 shares of company stock worth $1,085,000 in the last quarter. 3.70% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the business. Jane Street Group LLC lifted its holdings in Synaptics by 100.4% in 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 in the last quarter. Advisory Services Network LLC increased its position in shares of Synaptics by 1.7% in the 2nd quarter. Advisory Services Network LLC now owns 4,510 shares of the software maker’s stock worth $233,000 after purchasing an additional 75 shares during the last quarter. Koch Industries Inc. bought a new stake in shares of Synaptics in the 2nd quarter worth about $551,000. Trexquant Investment LP bought a new stake in shares of Synaptics in the 3rd quarter worth about $804,000. Finally, Schwab Charles Investment Management Inc. increased its position in shares of Synaptics by 13.2% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 220,146 shares of the software maker’s stock worth $8,626,000 after purchasing an additional 25,594 shares during the last quarter. Hedge funds and other institutional investors 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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