Synaptics’ (SYNA) Buy Rating Reiterated at Mizuho
“We would note SYNA MarQ Mobile guide of down ~19% q/q is inline or better than peers (versus SWKS down 20% q/q, QRVO down 25% q/q and NXPI down ~33% q/q). While MarQ is seeing pickup with CoF/TDDI with China handset OEMs, we believe iPhone continues to be a bigger drag. We see improving 2H19 trends with CoF, OLED and a rebound in IoT. Maintaining our Buy, adjusting estimates and PT to $48 (from $50).”,” Mizuho’s analyst wrote.
Other research analysts also recently issued reports about the company. Zacks Investment Research downgraded Synaptics from a buy rating to a hold rating in a report on Thursday, October 11th. ValuEngine upgraded Synaptics from a sell rating to a hold rating in a report on Saturday, December 15th. Craig Hallum reiterated a buy rating and set a $48.00 price objective (down from $50.00) on shares of Synaptics in a report on Friday. BidaskClub upgraded Synaptics from a strong sell rating to a sell rating in a report on Friday, November 16th. Finally, JPMorgan Chase & Co. downgraded Synaptics from an overweight rating to a neutral rating and decreased their price objective for the stock from $55.00 to $50.00 in a report on Friday. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $51.82.
Synaptics (NASDAQ:SYNA) last posted its quarterly earnings data on Thursday, February 7th. The software maker reported $1.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.62. The business had revenue of $425.50 million during the quarter, compared to the consensus estimate of $421.54 million. Synaptics had a return on equity of 15.38% and a net margin of 0.09%. Synaptics’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period last year, the company earned $1.11 earnings per share. On average, research analysts predict that Synaptics will post 2.92 earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of SYNA. California Public Employees Retirement System grew its stake in Synaptics by 25.1% in the second quarter. California Public Employees Retirement System now owns 99,735 shares of the software maker’s stock valued at $5,024,000 after purchasing an additional 20,022 shares in the last quarter. Essex Investment Management Co. LLC bought a new position in Synaptics in the third quarter valued at approximately $667,000. GHP Investment Advisors Inc. grew its stake in Synaptics by 12.6% in the third quarter. GHP Investment Advisors Inc. now owns 43,235 shares of the software maker’s stock valued at $1,972,000 after purchasing an additional 4,850 shares in the last quarter. TRUE Private Wealth Advisors bought a new position in Synaptics in the third quarter valued at approximately $103,000. Finally, West Coast Financial LLC grew its stake in Synaptics by 4.2% in the third quarter. West Coast Financial LLC now owns 80,443 shares of the software maker’s stock valued at $3,670,000 after purchasing an additional 3,231 shares in the last quarter. Hedge funds and other institutional investors own 97.97% of the company’s stock.
Synaptics Company Profile
Synaptics Incorporated develops, markets, and sells intuitive human interface solutions for electronic devices and products worldwide. The company offers its products and solutions for smartphones, tablets, and touchscreen applications, as well as mobile, handheld, wireless, and entertainment devices; notebook applications; and other personal computer (PC) product applications.
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