Synaptics Incorporated (NASDAQ:SYNA) Given Average Rating of “Moderate Buy” by Analysts

Shares of Synaptics Incorporated (NASDAQ:SYNA) have received a consensus rating of “Moderate Buy” from the ten ratings firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $89.00.

Several research analysts have commented on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Synaptics in a research note on Wednesday, October 8th. Zacks Research raised shares of Synaptics from a “strong sell” rating to a “hold” rating in a research note on Monday, September 15th. Wall Street Zen downgraded shares of Synaptics from a “buy” rating to a “hold” rating in a research note on Friday, August 22nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $95.00 target price on shares of Synaptics in a research note on Friday, October 17th. Finally, Barclays began coverage on shares of Synaptics in a report on Monday, August 18th. They issued an “overweight” rating and a $78.00 price target on the stock.

Institutional Trading of Synaptics

Several large investors have recently added to or reduced their stakes in the stock. Johnson Investment Counsel Inc. boosted its holdings in Synaptics by 6.1% in the second quarter. Johnson Investment Counsel Inc. now owns 3,601 shares of the software maker’s stock valued at $233,000 after acquiring an additional 206 shares in the last quarter. California State Teachers Retirement System boosted its holdings in shares of Synaptics by 0.6% during the 2nd quarter. California State Teachers Retirement System now owns 36,853 shares of the software maker’s stock valued at $2,389,000 after buying an additional 209 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Synaptics by 50.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 708 shares of the software maker’s stock valued at $46,000 after buying an additional 237 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Synaptics by 32.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,016 shares of the software maker’s stock valued at $65,000 after buying an additional 249 shares in the last quarter. Finally, Stoneridge Investment Partners LLC boosted its holdings in shares of Synaptics by 7.5% during the 3rd quarter. Stoneridge Investment Partners LLC now owns 3,653 shares of the software maker’s stock valued at $250,000 after buying an additional 254 shares in the last quarter. Institutional investors own 99.43% of the company’s stock.

Synaptics Trading Up 3.4%

Shares of SYNA opened at $70.17 on Thursday. The firm’s 50 day simple moving average is $69.79 and its 200 day simple moving average is $65.75. The company has a market capitalization of $2.74 billion, a P/E ratio of -57.99, a P/E/G ratio of 3.03 and a beta of 1.63. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.78 and a quick ratio of 2.26. Synaptics has a 1-year low of $41.80 and a 1-year high of $89.81.

Synaptics (NASDAQ:SYNA) last announced its earnings results on Thursday, August 7th. The software maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01. The business had revenue of $282.80 million for the quarter, compared to the consensus estimate of $280.12 million. Synaptics had a negative net margin of 4.45% and a positive return on equity of 4.32%. Synaptics’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period last year, the firm posted $0.64 earnings per share. Sell-side analysts forecast that Synaptics will post 0.96 earnings per share for the current fiscal year.

Synaptics announced that its board has authorized a stock repurchase plan on Thursday, August 7th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the software maker to buy up to 6.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Synaptics Company Profile

Synaptics Incorporated develops, markets, and sells semiconductor products worldwide. The company offers AudioSmart for voice and audio processing; ConnectSmart for high-speed video/audio/data connectivity; DisplayLink for transmitting compressed video frames across low bandwidth connections; VideoSmart that enables set-top boxes, over-the-top, streaming devices, soundbars, surveillance cameras, and smart displays; and ImagingSmart solutions.