Analysts Set Synaptics Incorporated (NASDAQ:SYNA) Target Price at $123.91

Synaptics Incorporated (NASDAQ:SYNA) has been given an average recommendation of “Hold” by the fourteen brokerages that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $123.9091.

SYNA has been the subject of a number of analyst reports. Mizuho upped their price objective on Synaptics from $128.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. JPMorgan Chase & Co. lifted their target price on Synaptics from $100.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. TD Cowen lowered shares of Synaptics from a “buy” rating to a “hold” rating in a research report on Friday, June 26th. Zacks Research raised shares of Synaptics from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 17th. Finally, Needham & Company LLC downgraded shares of Synaptics from a “buy” rating to a “hold” rating in a research note on Friday, June 26th.

Insider Activity at Synaptics

In other Synaptics news, insider Esther Song sold 437 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $103.68, for a total value of $45,308.16. Following the completion of the sale, the insider directly owned 14,683 shares in the company, valued at approximately $1,522,333.44. This trade represents a 2.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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. Also, insider Lisa Bodensteiner sold 6,056 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $103.62, for a total value of $627,522.72. Following the completion of the sale, the insider directly owned 78,634 shares of the company’s stock, valued at approximately $8,148,055.08. This represents a 7.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders have sold 15,867 shares of company stock valued at $1,624,996 in the last ninety days. Corporate insiders own 0.50% of the company’s stock.

Institutional Trading of Synaptics

Institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System increased its stake in Synaptics by 11,977.6% during the 2nd quarter. California State Teachers Retirement System now owns 5,530,471 shares of the software maker’s stock valued at $687,050,000 after purchasing an additional 5,484,680 shares in the last quarter. State Street Corp lifted its stake in shares of Synaptics by 0.5% during the second quarter. State Street Corp now owns 2,039,202 shares of the software maker’s stock worth $132,181,000 after buying an additional 9,335 shares during the period. Orbis Allan Gray Ltd lifted its stake in shares of Synaptics by 9.9% during the fourth quarter. Orbis Allan Gray Ltd now owns 1,536,228 shares of the software maker’s stock worth $113,712,000 after buying an additional 137,926 shares during the period. William Blair Investment Management LLC purchased a new stake in shares of Synaptics during the second quarter valued at $153,998,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Synaptics during the second quarter valued at $133,656,000. 99.43% of the stock is currently owned by institutional investors and hedge funds.

Synaptics Stock Performance

Shares of SYNA stock opened at $95.08 on Wednesday. The firm has a market cap of $3.72 billion, a price-to-earnings ratio of -7.52 and a beta of 1.99. The company’s 50 day moving average is $113.13 and its 200 day moving average is $103.80. The company has a quick ratio of 0.90, a current ratio of 1.12 and a debt-to-equity ratio of 0.43. Synaptics has a 52-week low of $58.28 and a 52-week high of $149.11.

Synaptics (NASDAQ:SYNA) last posted its earnings results on Thursday, August 6th. The software maker reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.02. The company had revenue of $308.00 million during 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 revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.01 earnings per share. On average, sell-side analysts anticipate that Synaptics will post 1.98 EPS for the current fiscal year.

Synaptics Company Profile

Synaptics Incorporated is a global developer and supplier of human interface solutions for computing, networking, communications, and entertainment devices. The company specializes in the design, development and integration of custom chips and software that enable intuitive, natural user interactions. Synaptics solutions support touch, display, audio and biometrics functions, facilitating seamless human-to-machine interfaces across a broad range of end markets.

Key product offerings include touch controllers for laptops and tablets, capacitive touchscreens and display drivers for mobile devices, fingerprint sensors and secure authentication modules, as well as advanced audio processing and voice enhancement technologies.