Synaptics (NASDAQ:SYNA) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Shares of Synaptics Incorporated (NASDAQ:SYNA) passed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $111.34 and traded as high as $117.85. Synaptics shares last traded at $117.04, with a volume of 1,105,968 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SYNA. Barclays restated an “equal weight” rating and issued a $135.00 target price (up from $110.00) on shares of Synaptics in a research note on Friday, June 26th. TD Cowen lowered Synaptics from a “buy” rating to a “hold” rating in a report on Friday, June 26th. Weiss Ratings downgraded Synaptics from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Mizuho lifted their target price on Synaptics from $128.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Finally, Zacks Research downgraded shares of Synaptics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 9th. Two investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $123.09.

Synaptics Stock Performance

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 business’s 50-day simple moving average is $104.33 and its two-hundred day simple moving average is $111.38. The firm has a market cap of $4.66 billion, a price-to-earnings ratio of -9.27 and a beta of 1.96.

Synaptics (NASDAQ:SYNA) last posted its quarterly earnings data on Thursday, August 6th. The software maker reported $1.23 EPS for the quarter, topping the consensus estimate 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 quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.01 EPS. As a group, sell-side analysts expect that Synaptics Incorporated will post 1.98 earnings per share for the current fiscal year.

Insider Buying and Selling at Synaptics

In related news, insider Vikram Gupta sold 4,277 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $103.65, for a total transaction of $443,311.05. Following the sale, the insider directly owned 103,468 shares of the company’s stock, valued at $10,724,458.20. This represents a 3.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 Esther Song sold 437 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $103.68, for a total transaction 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 position. The SEC filing for this sale provides additional information. 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 sold a total of 15,951 shares of company stock valued at $1,612,862 in the last three months. 0.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Synaptics

Several institutional investors have recently modified their holdings of SYNA. State of Michigan Retirement System lifted its holdings in Synaptics by 1.1% during the 1st quarter. State of Michigan Retirement System now owns 9,333 shares of the software maker’s stock worth $654,000 after buying an additional 100 shares during the last quarter. ABS Investment Management LLC bought a new stake in shares of Synaptics in the 2nd quarter worth $310,575,000. CoreCap Advisors LLC acquired a new stake in Synaptics during the second quarter valued at approximately $25,000. GAMMA Investing LLC lifted its stake in Synaptics by 16.1% during the third quarter. GAMMA Investing LLC now owns 1,757 shares of the software maker’s stock valued at $178,000 after buying an additional 243 shares in the last quarter. Finally, Allworth Financial LP purchased a new position in shares of Synaptics during the second quarter valued at $33,000. Hedge funds and other institutional investors own 99.43% of the company’s stock.

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 designed to help people interact with electronic devices and enable connected products to process data closer to where it is generated.

The company’s product portfolio includes touch and gesture controllers, touchpads, touchscreen and display technologies, fingerprint sensors, wireless connectivity solutions, video and audio products, and system-on-chip platforms.