Synaptics (NASDAQ:SYNA – Free Report) had its price objective lowered by Mizuho from $127.00 to $124.00 in a report published on Friday morning, Benzinga reports. Mizuho currently has a buy rating on the software maker’s stock.
Several other equities research analysts have also commented on the stock. JPMorgan Chase & Co. initiated coverage on shares of Synaptics in a research note on Friday, December 8th. They issued an overweight rating and a $130.00 price target on the stock. KeyCorp raised their price target on shares of Synaptics from $115.00 to $125.00 and gave the company an overweight rating in a research note on Friday, November 10th. StockNews.com lowered shares of Synaptics from a hold rating to a sell rating in a research note on Monday, January 29th. TD Cowen raised their price target on shares of Synaptics from $115.00 to $135.00 and gave the company an outperform rating in a research note on Friday. Finally, Susquehanna increased their price objective on shares of Synaptics from $130.00 to $135.00 and gave the company a positive rating in a report on Friday. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Synaptics currently has an average rating of Moderate Buy and an average price target of $125.36.
Synaptics Stock Performance
Synaptics (NASDAQ:SYNA – Get Free Report) last released its quarterly earnings data on Thursday, February 8th. The software maker reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.11. The firm had revenue of $237.00 million for the quarter, compared to analyst estimates of $235.26 million. Synaptics had a negative net margin of 7.54% and a positive return on equity of 2.98%. Synaptics’s quarterly revenue was down 32.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.47 earnings per share. Equities analysts anticipate that Synaptics will post -0.49 earnings per share for the current fiscal year.
Insider Activity at Synaptics
In related news, insider John Mcfarland sold 884 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $105.83, for a total value of $93,553.72. Following the sale, the insider now owns 15,183 shares of the company’s stock, valued at $1,606,816.89. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.20% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Synaptics
A number of large investors have recently modified their holdings of SYNA. Signaturefd LLC lifted its position in shares of Synaptics by 711.8% during the third quarter. Signaturefd LLC now owns 276 shares of the software maker’s stock worth $25,000 after purchasing an additional 242 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in Synaptics in the third quarter valued at approximately $31,000. Fifth Third Bancorp lifted its holdings in Synaptics by 92.4% in the third quarter. Fifth Third Bancorp now owns 433 shares of the software maker’s stock valued at $39,000 after buying an additional 208 shares during the period. Headinvest LLC acquired a new position in Synaptics in the third quarter valued at approximately $40,000. Finally, Belpointe Asset Management LLC lifted its holdings in Synaptics by 112.9% in the first quarter. Belpointe Asset Management LLC now owns 364 shares of the software maker’s stock valued at $40,000 after buying an additional 193 shares during the period. 91.51% of the stock is currently owned by institutional investors and hedge funds.
Synaptics Company Profile
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.
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