Synaptics Incorporated (NASDAQ:SYNA) Stock Has Average Target Price of $123.91

Shares of Synaptics Incorporated (NASDAQ:SYNA) have been given an average rating of “Hold” by the fourteen analysts that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $123.91.

Several brokerages have recently weighed in on SYNA. Needham & Company LLC downgraded shares of Synaptics from a “buy” rating to a “hold” rating in a research note on Friday, June 26th. Mizuho upped their price target on shares of Synaptics from $128.00 to $170.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft downgraded shares of Synaptics from a “buy” rating to a “hold” rating and set a $125.00 price target on the stock. in a report on Monday, June 29th. Wells Fargo & Company decreased their price objective on shares of Synaptics from $160.00 to $140.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. Finally, TD Cowen lowered Synaptics from a “buy” rating to a “hold” rating in a research report on Friday, June 26th.

Insider Transactions at Synaptics

In related news, insider Vikram Gupta sold 4,277 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $94.49, for a total transaction of $404,133.73. Following the completion of the sale, the insider directly owned 99,191 shares of the company’s stock, valued at approximately $9,372,557.59. This trade represents a 4.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Esther Song sold 437 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $103.68, for a total value of $45,308.16. Following the transaction, the insider owned 14,683 shares of the company’s stock, valued at approximately $1,522,333.44. The trade was a 2.89% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 15,804 shares of company stock worth $1,598,162. 0.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SYNA. CoreCap Advisors LLC purchased a new position in Synaptics in the 2nd quarter worth about $25,000. Allworth Financial LP purchased a new stake in Synaptics in the 2nd quarter valued at about $33,000. Leonteq Securities AG purchased a new stake in Synaptics in the 4th quarter valued at about $43,000. Global Retirement Partners LLC bought a new position in Synaptics in the 2nd quarter worth about $61,000. Finally, State of Wyoming bought a new position in Synaptics in the 2nd quarter worth about $65,000. 99.43% of the stock is currently owned by institutional investors.

Synaptics Price Performance

Shares of Synaptics stock opened at $102.72 on Friday. The stock has a market cap of $4.08 billion, a price-to-earnings ratio of -8.12 and a beta of 1.94. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.90 and a current ratio of 1.12. The stock has a 50 day moving average price of $102.03 and a 200-day moving average price of $105.49. Synaptics has a one year low of $58.28 and a one year high of $149.11.

Synaptics (NASDAQ:SYNA) last released its quarterly earnings results on Thursday, August 6th. The software maker reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.02. The company had revenue of $308.00 million for the quarter, compared to analyst estimates of $305.32 million. Synaptics had a positive return on equity of 4.37% and a negative net margin of 41.00%.Synaptics’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.01 EPS. Equities analysts expect that Synaptics will post 1.98 EPS for the current year.

About Synaptics

Synaptics Incorporated (NASDAQ: SYNA) is a fabless semiconductor company that develops technologies for human-machine interaction, connectivity and edge computing. Its solutions are used in consumer electronics, automotive systems, enterprise equipment and other connected devices.

The company’s products include touchpads, touchscreens, fingerprint sensors, display and video interface technologies, and related human-interface solutions. Synaptics also develops wireless connectivity products, including technologies supporting Wi-Fi, Bluetooth and other connected-device applications, as well as semiconductor platforms designed to enable edge artificial intelligence and the Internet of Things.

Founded in 1986 and headquartered in Santa Clara, California, Synaptics serves customers and original equipment manufacturers globally.