Mizuho lowered shares of Synaptics (NASDAQ:SYNA) from a buy rating to a neutral rating in a research report report published on Monday morning, Marketbeat.com reports. Mizuho currently has $39.00 price objective on the software maker’s stock, down from their prior price objective of $48.00.
Several other research firms also recently weighed in on SYNA. Zacks Investment Research upgraded Synaptics from a hold rating to a buy rating and set a $46.00 target price for the company in a research report on Thursday, February 7th. BidaskClub downgraded Synaptics from a hold rating to a sell rating in a report on Monday, January 7th. Rosenblatt Securities restated a hold rating on shares of Synaptics in a report on Saturday, February 9th. ValuEngine upgraded Synaptics from a sell rating to a hold rating in a report on Saturday, December 15th. Finally, JPMorgan Chase & Co. downgraded Synaptics from an overweight rating to a neutral rating and decreased their price objective for the company from $55.00 to $50.00 in a report on Friday, February 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Hold and an average price target of $48.64.
NASDAQ:SYNA opened at $33.65 on Monday. Synaptics has a twelve month low of $32.54 and a twelve month high of $55.25. The firm has a market cap of $1.14 billion, a PE ratio of 16.99 and a beta of 0.91. The company has a quick ratio of 2.15, a current ratio of 2.64 and a debt-to-equity ratio of 0.65.
Synaptics (NASDAQ:SYNA) last released its earnings results on Thursday, February 7th. The software maker reported $1.55 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.62. Synaptics had a return on equity of 15.38% and a net margin of 0.09%. The business had revenue of $425.50 million during the quarter, compared to the consensus estimate of $421.54 million. During the same period last year, the company earned $1.11 earnings per share. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Synaptics will post 3.12 earnings per share for the current year.
In related news, insider Kermit Nolan sold 10,000 shares of Synaptics stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $41.49, for a total value of $414,900.00. Following the completion of the sale, the insider now directly owns 65,611 shares in the company, valued at $2,722,200.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.70% of the company’s stock.
A number of institutional investors have recently made changes to their positions in SYNA. Norges Bank bought a new position in Synaptics in the fourth quarter worth about $17,801,000. Franklin Resources Inc. raised its holdings in Synaptics by 28.7% in the third quarter. Franklin Resources Inc. now owns 1,756,401 shares of the software maker’s stock worth $80,127,000 after purchasing an additional 392,065 shares in the last quarter. Fisher Asset Management LLC raised its holdings in Synaptics by 36.4% in the fourth quarter. Fisher Asset Management LLC now owns 1,283,764 shares of the software maker’s stock worth $47,769,000 after purchasing an additional 342,909 shares in the last quarter. Vanguard Group Inc raised its holdings in Synaptics by 9.2% in the third quarter. Vanguard Group Inc now owns 3,511,485 shares of the software maker’s stock worth $160,194,000 after purchasing an additional 295,956 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Synaptics by 9.2% in the third quarter. Vanguard Group Inc. now owns 3,511,485 shares of the software maker’s stock worth $160,194,000 after purchasing an additional 295,956 shares in the last quarter. Institutional investors and hedge funds own 97.80% of the company’s stock.
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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