Synaptics (NASDAQ:SYNA) Rating Increased to Sell at BidaskClub

BidaskClub upgraded shares of Synaptics (NASDAQ:SYNA) from a strong sell rating to a sell rating in a research report sent to investors on Wednesday, BidAskClub reports.

SYNA has been the subject of a number of other reports. ValuEngine upgraded Vermillion from a hold rating to a buy rating in a research note on Wednesday, May 15th. Needham & Company LLC restated a buy rating and issued a $42.00 target price (down from $45.00) on shares of Synaptics in a research note on Friday, May 10th. Craig Hallum lowered SharpSpring from a buy rating to a hold rating and raised their target price for the company from $17.00 to $21.00 in a research note on Friday, May 10th. Mizuho set a $88.00 target price on Gilead Sciences and gave the company a buy rating in a research note on Friday, May 10th. Finally, BMO Capital Markets raised their target price on Sun Life Financial from C$58.00 to C$60.00 in a research note on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $41.00.

Shares of NASDAQ:SYNA opened at $31.46 on Wednesday. Synaptics has a twelve month low of $26.34 and a twelve month high of $51.67. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 15.89 and a beta of 1.07. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.56 and a current ratio of 3.19. The firm has a fifty day simple moving average of $29.11.



Synaptics (NASDAQ:SYNA) last announced its earnings results on Thursday, May 9th. The software maker reported $0.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.52. Synaptics had a return on equity of 15.21% and a net margin of 1.39%. The company had revenue of $334.00 million during the quarter, compared to analyst estimates of $345.30 million. During the same period last year, the company posted $0.92 earnings per share. The firm’s quarterly revenue was down 15.2% compared to the same quarter last year. On average, analysts predict that Synaptics will post 2.32 EPS for the current fiscal year.

In related news, SVP John Mcfarland sold 2,829 shares of Synaptics stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $33.76, for a total value of $95,507.04. Following the completion of the sale, the senior vice president now directly owns 21,871 shares in the company, valued at $738,364.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.70% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in the stock. Penserra Capital Management LLC boosted its holdings in Synaptics by 50.0% during the first quarter. Penserra Capital Management LLC now owns 1,185 shares of the software maker’s stock worth $47,000 after buying an additional 395 shares during the last quarter. Rhumbline Advisers boosted its holdings in Synaptics by 0.4% during the first quarter. Rhumbline Advisers now owns 108,714 shares of the software maker’s stock worth $4,321,000 after buying an additional 466 shares during the last quarter. Cardinal Capital Management boosted its holdings in Synaptics by 3.1% during the second quarter. Cardinal Capital Management now owns 20,681 shares of the software maker’s stock worth $603,000 after buying an additional 621 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in Synaptics by 7.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 8,982 shares of the software maker’s stock worth $334,000 after buying an additional 633 shares during the last quarter. Finally, Texas Permanent School Fund boosted its holdings in Synaptics by 3.1% during the first quarter. Texas Permanent School Fund now owns 23,359 shares of the software maker’s stock worth $929,000 after buying an additional 705 shares during the last quarter. Hedge funds and other institutional investors own 96.78% of the company’s stock.

About Synaptics

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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Analyst Recommendations for Synaptics (NASDAQ:SYNA)

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