Synaptics (NASDAQ:SYNA) Upgraded to Strong-Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Synaptics (NASDAQ:SYNA) from a hold rating to a strong-buy rating in a research note issued to investors on Wednesday, Zacks.com reports. They currently have $67.00 price target on the software maker’s stock.

According to Zacks, “Synaptics is a leader in designing and marketing human interface solutions such as touchpads for notebook computers, capactive touch screen controllers for handsets and biometric fingerprint sensors for mobile devices. “

SYNA has been the subject of a number of other reports. ValuEngine cut Synaptics from a buy rating to a hold rating in a research note on Friday, November 8th. JPMorgan Chase & Co. upped their price target on Synaptics from $25.00 to $32.00 and gave the company an underweight rating in a research note on Friday, November 8th. BMO Capital Markets upped their price target on Synaptics to $50.00 in a research note on Friday, November 8th. TheStreet raised Synaptics from a d+ rating to a c- rating in a research note on Monday, November 4th. Finally, BidaskClub raised Synaptics from a buy rating to a strong-buy rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $46.67.

Shares of NASDAQ:SYNA traded down $0.04 on Wednesday, hitting $60.37. The stock had a trading volume of 663,900 shares, compared to its average volume of 997,374. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.42 and a current ratio of 2.98. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of 24.15 and a beta of 1.00. The firm’s 50 day moving average price is $44.20 and its 200-day moving average price is $35.06. Synaptics has a twelve month low of $26.34 and a twelve month high of $62.10.

Synaptics (NASDAQ:SYNA) last announced its quarterly earnings results on Thursday, November 7th. The software maker reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.49. The company had revenue of $339.90 million during the quarter, compared to analysts’ expectations of $314.44 million. Synaptics had a positive return on equity of 13.40% and a negative net margin of 1.63%. Synaptics’s revenue was down 18.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.24 EPS. As a group, sell-side analysts predict that Synaptics will post 2.81 EPS for the current year.

In related news, insider Shawn Tsai-Shyang Liu sold 800 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $40.01, for a total value of $32,008.00. Following the completion of the transaction, the insider now directly owns 26,355 shares in the company, valued at approximately $1,054,463.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Hing Chung Wong sold 24,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $56.52, for a total value of $1,356,480.00. Following the completion of the transaction, the senior vice president now owns 44,905 shares of the company’s stock, valued at $2,538,030.60. The disclosure for this sale can be found here. Insiders sold a total of 38,326 shares of company stock valued at $2,084,464 over the last quarter. 1.70% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. TRUE Private Wealth Advisors acquired a new position in shares of Synaptics in the 2nd quarter valued at approximately $56,000. US Bancorp DE grew its position in shares of Synaptics by 80.1% in 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 period. Bank of Montreal Can grew its position in shares of Synaptics by 188.6% in the 2nd quarter. Bank of Montreal Can now owns 3,495 shares of the software maker’s stock valued at $102,000 after purchasing an additional 2,284 shares during the period. Quantamental Technologies LLC acquired a new position in Synaptics during the 2nd quarter worth approximately $113,000. Finally, Neuburgh Advisers LLC boosted its position in Synaptics by 34.4% during the 2nd quarter. Neuburgh Advisers LLC now owns 4,496 shares of the software maker’s stock worth $131,000 after acquiring an additional 1,152 shares during the last quarter. Institutional investors and hedge funds own 98.81% 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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