Synaptics, Incorporated (NASDAQ:SYNA) Director Nelson C. Chan sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $33.25, for a total value of $199,500.00. Following the completion of the sale, the director now owns 39,449 shares in the company, valued at $1,311,679.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Synaptics stock traded down $0.97 on Wednesday, reaching $33.06. 480,313 shares of the company’s stock were exchanged, compared to its average volume of 665,048. The firm has a market cap of $1.13 billion, a P/E ratio of 13.22 and a beta of 1.02. Synaptics, Incorporated has a 52 week low of $26.34 and a 52 week high of $48.74. The business has a 50-day moving average price of $31.25. The company has a quick ratio of 2.56, a current ratio of 3.19 and a debt-to-equity ratio of 0.64.
Synaptics (NASDAQ:SYNA) last posted its quarterly earnings results on Thursday, August 8th. The software maker reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.47. The firm had revenue of $295.10 million for the quarter, compared to analysts’ expectations of $307.27 million. Synaptics had a positive return on equity of 12.49% and a negative net margin of 1.56%. The company’s revenue for the quarter was down 24.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.00 EPS. Sell-side analysts forecast that Synaptics, Incorporated will post 1.53 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of SYNA. Balyasny Asset Management LLC increased its position in shares of Synaptics by 275.4% during the 2nd quarter. Balyasny Asset Management LLC now owns 33,676 shares of the software maker’s stock valued at $981,000 after purchasing an additional 24,706 shares during the last quarter. Kempen Capital Management N.V. increased its position in shares of Synaptics by 21.3% during the 2nd quarter. Kempen Capital Management N.V. now owns 273,158 shares of the software maker’s stock valued at $7,960,000 after purchasing an additional 48,000 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Synaptics by 3.7% during the 2nd quarter. Vanguard Group Inc. now owns 4,883,667 shares of the software maker’s stock valued at $142,310,000 after purchasing an additional 175,697 shares during the last quarter. US Bancorp DE increased its position in shares of Synaptics by 80.1% during the 2nd quarter. US Bancorp DE now owns 2,156 shares of the software maker’s stock valued at $62,000 after purchasing an additional 959 shares during the last quarter. Finally, MUFG Securities EMEA plc increased its position in shares of Synaptics by 65.0% during the 2nd quarter. MUFG Securities EMEA plc now owns 11,678 shares of the software maker’s stock valued at $340,000 after purchasing an additional 4,600 shares during the last quarter. Hedge funds and other institutional investors own 95.34% of the company’s stock.
Several brokerages recently commented on SYNA. BidaskClub upgraded Synaptics from a “strong sell” rating to a “sell” rating in a report on Wednesday. BMO Capital Markets upped their target price on Synaptics from $29.00 to $33.00 and gave the company a “market perform” rating in a report on Friday, August 9th. ValuEngine upgraded Synaptics from a “sell” rating to a “hold” rating in a report on Wednesday, May 15th. Craig Hallum cut Synaptics from a “buy” rating to a “hold” rating and reduced their target price for the company from $39.00 to $28.00 in a report on Friday, August 9th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $42.00 target price on shares of Synaptics in a report on Sunday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $35.33.
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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