Mizuho Cuts Synaptics (NASDAQ:SYNA) Price Target to $80.00

Synaptics (NASDAQ:SYNA) had its price target trimmed by Mizuho from $90.00 to $80.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has an outperform rating on the software maker’s stock.

Other research analysts have also recently issued reports about the stock. Susquehanna raised their target price on shares of Synaptics from $95.00 to $105.00 and gave the stock a “positive” rating in a report on Wednesday, January 22nd. Rosenblatt Securities reiterated a “buy” rating and set a $105.00 target price on shares of Synaptics in a research report on Thursday, February 27th. Craig Hallum upgraded shares of Synaptics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 29th. Finally, Needham & Company LLC restated a “buy” rating and issued a $90.00 target price on shares of Synaptics in a research report on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $95.00.

Synaptics Stock Down 1.4 %

SYNA stock opened at $64.35 on Monday. Synaptics has a fifty-two week low of $60.75 and a fifty-two week high of $99.99. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.88 and a quick ratio of 3.36. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of 15.21 and a beta of 1.55. The business’s fifty day moving average price is $71.99 and its two-hundred day moving average price is $74.56.

Insider Buying and Selling

In other news, insider Ken Rizvi bought 3,600 shares of the stock in a transaction on Monday, February 10th. The stock was acquired at an average price of $69.15 per share, with a total value of $248,940.00. Following the acquisition, the insider now directly owns 27,630 shares in the company, valued at approximately $1,910,614.50. This trade represents a 14.98 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is owned by corporate insiders.

Institutional Trading of Synaptics

A number of hedge funds have recently made changes to their positions in SYNA. Quarry LP bought a new stake in shares of Synaptics in the third quarter worth $31,000. Brown Brothers Harriman & Co. acquired a new position in Synaptics during the 4th quarter worth about $31,000. Menard Financial Group LLC bought a new stake in shares of Synaptics in the 4th quarter valued at about $37,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Synaptics in the fourth quarter valued at about $43,000. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of Synaptics during the fourth quarter worth about $72,000. 99.43% of the stock is owned by institutional investors and hedge funds.

About Synaptics

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.