Brokerages Set Synaptics Incorporated (NASDAQ:SYNA) Target Price at $118.40

Synaptics Incorporated (NASDAQ:SYNA) has received a consensus rating of “Moderate Buy” from the nine brokerages that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $122.67.

Several brokerages have recently issued reports on SYNA. Craig Hallum cut Synaptics from a “buy” rating to a “hold” rating and set a $105.00 price objective on the stock. in a report on Friday, February 9th. Rosenblatt Securities increased their price objective on shares of Synaptics from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Susquehanna lifted their price objective on shares of Synaptics from $130.00 to $135.00 and gave the stock a “positive” rating in a research note on Friday, February 9th. KeyCorp upped their target price on shares of Synaptics from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. Finally, Mizuho dropped their price target on Synaptics from $127.00 to $124.00 and set a “buy” rating for the company in a research report on Friday, February 9th.

Synaptics Trading Up 0.8 %

Synaptics stock opened at $90.31 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 4.53 and a quick ratio of 4.04. The firm’s 50 day moving average price is $95.23 and its 200-day moving average price is $100.85. Synaptics has a 1 year low of $67.73 and a 1 year high of $121.37. The stock has a market cap of $3.55 billion, a P/E ratio of -45.38 and a beta of 1.59.

Synaptics (NASDAQ:SYNA) last announced its quarterly earnings results on Thursday, February 8th. The software maker reported $0.57 EPS for the quarter, topping the consensus estimate of $0.46 by $0.11. The business had revenue of $237.00 million for the quarter, compared to analysts’ expectations of $235.26 million. Synaptics had a negative net margin of 7.54% and a positive return on equity of 3.01%. The business’s quarterly revenue was down 32.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.47 EPS. On average, equities analysts predict that Synaptics will post -0.48 earnings per share for the current fiscal year.

Insider Activity at Synaptics

In other Synaptics news, insider Vikram Gupta sold 3,616 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $105.75, for a total value of $382,392.00. Following the completion of the sale, the insider now owns 31,847 shares of the company’s stock, valued at $3,367,820.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Synaptics

Hedge funds and other institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. grew its position in Synaptics by 1,255.2% in the 4th quarter. Victory Capital Management Inc. now owns 394,383 shares of the software maker’s stock valued at $44,991,000 after acquiring an additional 365,282 shares during the last quarter. Norges Bank bought a new stake in Synaptics during the 4th quarter valued at $40,261,000. FMR LLC lifted its holdings in shares of Synaptics by 39.3% in the 3rd quarter. FMR LLC now owns 1,124,544 shares of the software maker’s stock worth $100,579,000 after buying an additional 317,307 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Synaptics by 49.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 437,966 shares of the software maker’s stock worth $39,172,000 after buying an additional 144,252 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Synaptics by 2.9% in the third quarter. Ameriprise Financial Inc. now owns 4,131,256 shares of the software maker’s stock valued at $369,500,000 after acquiring an additional 116,276 shares in the last quarter. 99.43% of the stock is currently owned by hedge funds and other institutional investors.

Synaptics Company Profile

Synaptics Incorporated develops, markets, and sells semiconductor products worldwide. The company offers AudioSmart for voice and audio processing; ConnectSmart for high-speed video/audio/data connectivity; DisplayLink for transmitting compressed video frames across low bandwidth connections; VideoSmart that enables set-top boxes, over-the-top, streaming devices, soundbars, surveillance cameras, and smart displays; and ImagingSmart solutions.