Synaptics Incorporated (NASDAQ:SYNA) Receives $123.91 Average PT from Brokerages

Synaptics Incorporated (NASDAQ:SYNA) has been given an average recommendation of “Hold” by the fourteen ratings firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $123.9091.

A number of brokerages have issued reports on SYNA. Zacks Research upgraded shares of Synaptics from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 17th. Deutsche Bank Aktiengesellschaft cut Synaptics from a “buy” rating to a “hold” rating and set a $125.00 target price for the company. in a report on Monday, June 29th. Weiss Ratings downgraded shares of Synaptics from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Craig Hallum set a $105.00 price objective on Synaptics in a research report on Friday, August 7th. Finally, Barclays reaffirmed an “equal weight” rating and issued a $135.00 price objective (up from $110.00) on shares of Synaptics in a research note on Friday, June 26th.

Insider Activity at Synaptics

In related news, insider Lisa Bodensteiner sold 334 shares of the firm’s stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $92.63, for a total transaction of $30,938.42. Following the completion of the sale, the insider owned 77,518 shares of the company’s stock, valued at $7,180,492.34. This trade represents a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 Vikram Gupta sold 4,277 shares of Synaptics stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $94.49, for a total transaction of $404,133.73. Following the completion of the sale, the insider owned 99,191 shares of the company’s stock, valued at $9,372,557.59. This represents a 4.13% 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. Insiders have sold a total of 15,804 shares of company stock worth $1,598,162 in the last 90 days. Corporate insiders own 0.70% of the company’s stock.

Institutional Trading of Synaptics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. CoreCap Advisors LLC bought a new stake in shares of Synaptics during the second quarter worth about $25,000. Allworth Financial LP purchased a new stake in shares of Synaptics during the second quarter valued at approximately $33,000. Leonteq Securities AG purchased a new stake in shares of Synaptics during the 4th quarter valued at $43,000. Global Retirement Partners LLC purchased a new stake in Synaptics during the second quarter worth about $61,000. Finally, State of Wyoming bought a new stake in shares of Synaptics in the 2nd quarter worth approximately $65,000. Institutional investors own 99.43% of the company’s stock.

Synaptics Trading Up 2.4%

Shares of Synaptics stock opened at $97.64 on Friday. The firm has a 50-day moving average of $103.10 and a 200-day moving average of $105.17. Synaptics has a 52-week low of $58.28 and a 52-week high of $149.11. The stock has a market cap of $3.88 billion, a PE ratio of -7.72 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.

Synaptics (NASDAQ:SYNA) last announced its earnings results on Thursday, August 6th. The software maker reported $1.23 EPS for the quarter, topping 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 company had revenue of $308.00 million for the quarter, compared to analysts’ expectations of $305.32 million. During the same period last year, the firm earned $1.01 earnings per share. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, sell-side analysts forecast 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.