Mizuho Trims Synaptics (NASDAQ:SYNA) Target Price to $124.00

Synaptics (NASDAQ:SYNAFree 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.

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Synaptics Stock Performance

Shares of SYNA stock opened at $112.21 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.98 and a current ratio of 4.52. Synaptics has a one year low of $67.73 and a one year high of $129.34. The company’s 50-day simple moving average is $109.26 and its 200-day simple moving average is $97.28. The stock has a market capitalization of $4.40 billion, a price-to-earnings ratio of -56.39 and a beta of 1.61.

Synaptics (NASDAQ:SYNAGet 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

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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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