Synaptics, Incorporated (NASDAQ:SYNA) saw a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 5,780,000 shares, a growth of 9.7% from the September 30th total of 5,270,000 shares. Currently, 17.8% of the company’s stock are sold short. Based on an average daily volume of 637,900 shares, the days-to-cover ratio is presently 9.1 days.
SYNA has been the topic of several analyst reports. Dougherty & Co upgraded Synaptics from a “neutral” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Friday, August 9th. BidaskClub upgraded Synaptics from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 7th. Zacks Investment Research upgraded Synaptics from a “hold” rating to a “strong-buy” rating and set a $67.00 price objective on the stock in a report on Wednesday. JPMorgan Chase & Co. lifted their price objective on Synaptics from $25.00 to $32.00 and gave the stock an “underweight” rating in a report on Friday, November 8th. Finally, TheStreet upgraded Synaptics from a “d+” rating to a “c-” rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $46.67.
Shares of SYNA traded down $0.04 during mid-day trading on Friday, hitting $60.37. The stock had a trading volume of 663,900 shares, compared to its average volume of 985,351. Synaptics has a fifty-two week low of $26.34 and a fifty-two week high of $62.10. The company has a quick ratio of 2.42, a current ratio of 2.98 and a debt-to-equity ratio of 0.72. The company’s fifty day simple moving average is $44.20 and its two-hundred day simple moving average is $35.06. The company has a market cap of $2.05 billion, a PE ratio of 24.15 and a beta of 1.00.
Synaptics (NASDAQ:SYNA) last posted its quarterly earnings data on Thursday, November 7th. The software maker reported $1.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.49. Synaptics had a positive return on equity of 13.40% and a negative net margin of 1.63%. The company had revenue of $339.90 million for the quarter, compared to the consensus estimate of $314.44 million. During the same quarter in the previous year, the business earned $1.24 EPS. The company’s quarterly revenue was down 18.6% compared to the same quarter last year. Equities analysts expect that Synaptics will post 2.81 earnings per share for the current year.
In other Synaptics news, SVP Hing Chung Wong sold 24,000 shares of Synaptics stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $56.52, for a total transaction of $1,356,480.00. Following the sale, the senior vice president now directly owns 44,905 shares in the company, valued at approximately $2,538,030.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shawn Tsai-Shyang Liu sold 1,600 shares of Synaptics stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $40.00, for a total value of $64,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 38,326 shares of company stock worth $2,084,464 over the last 90 days. 1.70% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. TRUE Private Wealth Advisors bought a new stake in shares of Synaptics in the 2nd quarter worth $56,000. US Bancorp DE raised its stake in shares of Synaptics by 80.1% in the 2nd quarter. US Bancorp DE now owns 2,156 shares of the software maker’s stock worth $62,000 after buying an additional 959 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Synaptics by 188.6% in the 2nd quarter. Bank of Montreal Can now owns 3,495 shares of the software maker’s stock worth $102,000 after buying an additional 2,284 shares in the last quarter. Quantamental Technologies LLC bought a new stake in shares of Synaptics in the 2nd quarter worth $113,000. Finally, Neuburgh Advisers LLC raised its stake in shares of Synaptics by 34.4% in the 2nd quarter. Neuburgh Advisers LLC now owns 4,496 shares of the software maker’s stock worth $131,000 after buying an additional 1,152 shares in the last quarter. 98.81% of the stock is currently owned by institutional investors.
Synaptics Company Profile
Synaptics Incorporated develops, markets, and sells intuitive human interface solutions for electronic devices and products worldwide. The company offers its products and solutions for smartphones, tablets, and touchscreen applications, as well as mobile, handheld, wireless, and entertainment devices; notebook applications; and other personal computer (PC) product applications.
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