Synaptics (NASDAQ:SYNA) Given New $185.00 Price Target at Susquehanna

Synaptics (NASDAQ:SYNAGet Rating) had its target price trimmed by Susquehanna from $200.00 to $185.00 in a research report released on Friday morning, The Fly reports.

A number of other analysts also recently weighed in on SYNA. Summit Insights downgraded Synaptics from a buy rating to a hold rating in a research report on Friday, May 6th. Susquehanna Bancshares lowered their target price on Synaptics to $200.00 in a research note on Monday, July 25th. Mizuho reduced their price target on shares of Synaptics from $225.00 to $205.00 and set a buy rating on the stock in a research note on Friday. KeyCorp decreased their price target on shares of Synaptics from $215.00 to $205.00 and set an overweight rating on the stock in a report on Friday. Finally, Cowen decreased their price target on shares of Synaptics from $310.00 to $210.00 in a report on Monday, May 2nd. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $221.67.

Synaptics Stock Performance

Shares of NASDAQ SYNA opened at $145.75 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 3.17 and a quick ratio of 2.80. The stock’s fifty day moving average price is $131.12 and its two-hundred day moving average price is $168.68. Synaptics has a one year low of $109.26 and a one year high of $299.39. The firm has a market cap of $5.77 billion, a price-to-earnings ratio of 23.03 and a beta of 1.46.

Synaptics (NASDAQ:SYNAGet Rating) last issued its quarterly earnings data on Thursday, August 4th. The software maker reported $3.87 EPS for the quarter, beating analysts’ consensus estimates of $3.13 by $0.74. Synaptics had a return on equity of 40.31% and a net margin of 14.80%. The firm had revenue of $476.40 million for the quarter, compared to analyst estimates of $472.74 million. During the same period in the prior year, the firm posted $1.60 EPS. The company’s revenue for the quarter was up 45.3% on a year-over-year basis. On average, equities analysts forecast that Synaptics will post 11.59 EPS for the current year.

Insiders Place Their Bets

In other Synaptics news, insider Dean Warren Butler sold 1,126 shares of the company’s stock in a transaction on Monday, May 9th. The shares were sold at an average price of $155.61, for a total transaction of $175,216.86. Following the transaction, the insider now owns 26,651 shares in the company, valued at $4,147,162.11. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Dean Warren Butler sold 1,126 shares of Synaptics stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $155.61, for a total value of $175,216.86. Following the sale, the insider now owns 26,651 shares of the company’s stock, valued at approximately $4,147,162.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kiva A. Allgood sold 196 shares of Synaptics stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $155.61, for a total transaction of $30,499.56. Following the completion of the sale, the director now directly owns 6,654 shares in the company, valued at approximately $1,035,428.94. The disclosure for this sale can be found here. Corporate insiders own 0.80% of the company’s stock.

Institutional Trading of Synaptics

Several institutional investors have recently added to or reduced their stakes in the business. Bridgewater Advisors Inc. raised its stake in shares of Synaptics by 0.3% during the fourth quarter. Bridgewater Advisors Inc. now owns 16,718 shares of the software maker’s stock valued at $4,840,000 after acquiring an additional 49 shares during the last quarter. Truvestments Capital LLC raised its stake in shares of Synaptics by 1.5% during the first quarter. Truvestments Capital LLC now owns 4,505 shares of the software maker’s stock valued at $899,000 after acquiring an additional 67 shares during the last quarter. Millrace Asset Group Inc. raised its stake in Synaptics by 0.8% in the first quarter. Millrace Asset Group Inc. now owns 9,920 shares of the software maker’s stock worth $1,979,000 after buying an additional 78 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Synaptics by 0.9% during the 2nd quarter. Arizona State Retirement System now owns 10,711 shares of the software maker’s stock worth $1,264,000 after acquiring an additional 95 shares during the period. Finally, State of Michigan Retirement System boosted its position in shares of Synaptics by 1.0% during the first quarter. State of Michigan Retirement System now owns 10,033 shares of the software maker’s stock valued at $2,002,000 after purchasing an additional 98 shares in the last quarter. 91.93% of the stock is currently owned by hedge funds and other institutional investors.

Synaptics Company Profile

(Get Rating)

Synaptics Incorporated develops and supplies semiconductor products and solutions 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 or over-the-top, streaming devices, soundbars, surveillance cameras, and smart displays; and ImagingSmart solutions.

Further Reading

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