Synaptics (NASDAQ:SYNA) Stock Jumps 5.3% – Still a Buy?

Synaptics Incorporated (NASDAQ:SYNA) shares rose 5.3% during trading on Friday. The stock traded as high as $101.15 and last traded at $101.9860. Approximately 83,392 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 855,511 shares. The stock had previously closed at $96.82.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SYNA shares. 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 target price on shares of Synaptics in a report on Friday, August 7th. Barclays reissued an “equal weight” rating and set a $135.00 price target (up from $110.00) on shares of Synaptics in a research report on Friday, June 26th. TD Cowen cut shares of Synaptics from a “buy” rating to a “hold” rating in a report on Friday, June 26th. Finally, Mizuho lifted their price objective on shares of Synaptics from $128.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $123.91.

Synaptics Stock Performance

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 market cap of $4.08 billion, a PE ratio of -8.12 and a beta of 1.94. The firm has a fifty day moving average price of $102.26 and a 200 day moving average price of $105.51.

Synaptics (NASDAQ:SYNA) last announced its earnings results on Thursday, August 6th. The software maker reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.02. Synaptics had a positive return on equity of 4.37% and a negative net margin of 41.00%.The firm had revenue of $308.00 million for the quarter, compared to the consensus estimate of $305.32 million. During the same period in the previous year, the business earned $1.01 EPS. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. Research analysts forecast that Synaptics Incorporated will post 1.98 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Lisa Bodensteiner sold 6,056 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $103.62, for a total transaction of $627,522.72. Following the transaction, the insider owned 78,634 shares in the company, valued at $8,148,055.08. This represents a 7.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 that occurred on Tuesday, August 18th. The stock was sold at an average price of $103.65, for a total transaction of $443,311.05. Following the completion of the sale, the insider owned 103,468 shares of the company’s stock, valued at $10,724,458.20. This trade represents a 3.97% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 15,804 shares of company stock worth $1,598,162 over the last 90 days. 0.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Synaptics

Several institutional investors and hedge funds have recently made changes to their positions in SYNA. Louisiana State Employees Retirement System purchased a new position in Synaptics during the 1st quarter worth approximately $784,000. Intech Investment Management LLC lifted its position in Synaptics by 186.4% during the fourth quarter. Intech Investment Management LLC now owns 70,287 shares of the software maker’s stock valued at $5,203,000 after purchasing an additional 45,746 shares during the period. FNY Investment Advisers LLC acquired a new position in Synaptics during the second quarter valued at $1,428,000. Segall Bryant & Hamill LLC boosted its holdings in Synaptics by 21.3% in the first quarter. Segall Bryant & Hamill LLC now owns 333,602 shares of the software maker’s stock valued at $23,365,000 after purchasing an additional 58,509 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Synaptics by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 1,000,456 shares of the software maker’s stock worth $74,066,000 after purchasing an additional 17,088 shares during the period. 99.43% of the stock is currently owned by institutional investors and hedge funds.

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.