Synaptics (NASDAQ:SYNA) Rating Increased to Strong-Buy at Zacks Research

Synaptics (NASDAQ:SYNA) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other brokerages have also commented on SYNA. Northland Securities lowered Synaptics from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 26th. Wells Fargo & Company cut their price target on Synaptics from $160.00 to $140.00 and set an “overweight” rating on the stock in a report on Friday, August 7th. Needham & Company LLC cut Synaptics from a “buy” rating to a “hold” rating in a research note on Friday, June 26th. Craig Hallum set a $105.00 price objective on Synaptics in a report on Friday, August 7th. Finally, Susquehanna lowered their target price on Synaptics from $140.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $123.91.

Synaptics Stock Down 5.2%

Shares of NASDAQ SYNA opened at $104.83 on Monday. The company has a quick ratio of 0.90, a current ratio of 1.12 and a debt-to-equity ratio of 0.43. The firm has a market cap of $4.10 billion, a PE ratio of -8.29 and a beta of 1.99. The company’s fifty day simple moving average is $119.53 and its 200 day simple moving average is $103.20. Synaptics has a 12-month low of $58.28 and a 12-month high of $149.11.

Synaptics (NASDAQ:SYNA) last posted 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. Synaptics had a negative net margin of 41.00% and a positive return on equity of 4.37%. The firm had revenue of $308.00 million during the quarter, compared to the consensus estimate of $305.32 million. During the same period in the previous year, the firm posted $1.01 earnings per share. The business’s revenue was up 8.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Synaptics will post 1.98 earnings per share for the current fiscal year.

Insider Buying and Selling at Synaptics

In other Synaptics news, insider Vikram Gupta sold 692 shares of Synaptics stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $147.50, for a total transaction of $102,070.00. Following the completion of the transaction, the insider owned 83,434 shares in the company, valued at approximately $12,306,515. The trade was a 0.82% decrease in their position. The transaction was disclosed in a document filed 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 8,833 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $141.17, for a total value of $1,246,954.61. Following the sale, the insider directly owned 12,421 shares of the company’s stock, valued at $1,753,472.57. This represents a 41.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 10,345 shares of company stock worth $1,453,745. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Synaptics

Institutional investors and hedge funds have recently bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Synaptics by 5.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 90,704 shares of the software maker’s stock worth $5,780,000 after acquiring an additional 4,917 shares during the last quarter. M&T Bank Corp purchased a new stake in shares of Synaptics in the second quarter valued at about $205,000. First Trust Advisors LP raised its holdings in shares of Synaptics by 9.8% in the second quarter. First Trust Advisors LP now owns 60,393 shares of the software maker’s stock valued at $3,915,000 after purchasing an additional 5,393 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Synaptics by 472.1% during the second quarter. Marshall Wace LLP now owns 89,490 shares of the software maker’s stock valued at $5,801,000 after purchasing an additional 73,848 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of Synaptics by 9.1% during the second quarter. Federated Hermes Inc. now owns 23,352 shares of the software maker’s stock valued at $1,514,000 after purchasing an additional 1,939 shares in the last quarter. 99.43% of the stock is owned by hedge funds and other institutional investors.

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.