Synaptics (NASDAQ:SYNA) Reaches New 52-Week Low – Should You Sell?

Synaptics Incorporated (NASDAQ:SYNA) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $53.53 and last traded at $54.11, with a volume of 258946 shares. The stock had previously closed at $63.67.

Analysts Set New Price Targets

Several research firms have recently commented on SYNA. Susquehanna upped their price target on Synaptics from $95.00 to $105.00 and gave the stock a “positive” rating in a research note on Wednesday, January 22nd. Needham & Company LLC restated a “buy” rating and set a $90.00 target price on shares of Synaptics in a research report on Tuesday, February 4th. Mizuho reduced their price target on shares of Synaptics from $90.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, March 24th. Rosenblatt Securities reissued a “buy” rating and issued a $105.00 target price on shares of Synaptics in a report on Thursday, February 27th. Finally, Craig Hallum raised Synaptics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 29th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $95.00.

Synaptics Trading Down 18.3 %

The business’s 50-day moving average is $70.02 and its two-hundred day moving average is $74.27. The company has a current ratio of 3.88, a quick ratio of 3.36 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $2.04 billion, a PE ratio of 12.30 and a beta of 1.60.

Insider Activity

In other news, insider Ken Rizvi acquired 3,600 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was bought at an average cost of $69.15 per share, with a total value of $248,940.00. Following the transaction, the insider now directly owns 27,630 shares in the company, valued at approximately $1,910,614.50. This represents a 14.98 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC boosted its stake in shares of Synaptics by 189.7% during the 3rd quarter. Barclays PLC now owns 81,330 shares of the software maker’s stock valued at $6,309,000 after buying an additional 53,252 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Synaptics by 111.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 79,777 shares of the software maker’s stock worth $6,189,000 after acquiring an additional 42,101 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Synaptics by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 471,583 shares of the software maker’s stock worth $35,991,000 after purchasing an additional 23,702 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Synaptics by 0.4% in the 4th quarter. Principal Financial Group Inc. now owns 92,053 shares of the software maker’s stock valued at $7,025,000 after purchasing an additional 333 shares in the last quarter. Finally, Holocene Advisors LP lifted its position in shares of Synaptics by 51.2% during the third quarter. Holocene Advisors LP now owns 47,837 shares of the software maker’s stock worth $3,711,000 after purchasing an additional 16,193 shares during the last quarter. Hedge funds and other institutional investors own 99.43% of the company’s stock.

About Synaptics

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.