Synaptics (NASDAQ:SYNA) Shares Gap Down – Time to Sell?

Synaptics Incorporated (NASDAQ:SYNA) shares gapped down before the market opened on Thursday . The stock had previously closed at $74.50, but opened at $72.31. Synaptics shares last traded at $74.41, with a volume of 89,274 shares changing hands.

Analysts Set New Price Targets

SYNA has been the subject of a number of research analyst reports. Needham & Company LLC dropped their price target on Synaptics from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Craig Hallum dropped their target price on Synaptics from $105.00 to $80.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Susquehanna dropped their target price on Synaptics from $110.00 to $95.00 and set a “positive” rating for the company in a research report on Monday, October 21st. JPMorgan Chase & Co. dropped their target price on Synaptics from $120.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Finally, TD Cowen boosted their target price on Synaptics from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.33.

Synaptics Stock Down 0.8 %

The company has a quick ratio of 4.02, a current ratio of 4.49 and a debt-to-equity ratio of 0.66. The company has a 50-day simple moving average of $73.82 and a two-hundred day simple moving average of $82.22. The stock has a market cap of $2.96 billion, a P/E ratio of 18.74 and a beta of 1.47.

Insider Buying and Selling at Synaptics

In other Synaptics news, insider Vikram Gupta sold 1,008 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $80.00, for a total value of $80,640.00. Following the completion of the sale, the insider now owns 45,789 shares in the company, valued at approximately $3,663,120. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 5,609 shares of company stock worth $448,720. 1.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Synaptics

Several hedge funds have recently made changes to their positions in SYNA. Point72 Asset Management L.P. increased its stake in shares of Synaptics by 15,571.4% during the second quarter. Point72 Asset Management L.P. now owns 814,912 shares of the software maker’s stock valued at $71,875,000 after buying an additional 809,712 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Synaptics by 18.1% during the second quarter. Bank of New York Mellon Corp now owns 1,259,106 shares of the software maker’s stock valued at $111,053,000 after buying an additional 193,182 shares during the period. Victory Capital Management Inc. increased its stake in shares of Synaptics by 39.1% during the second quarter. Victory Capital Management Inc. now owns 545,958 shares of the software maker’s stock valued at $48,153,000 after buying an additional 153,434 shares during the period. Westfield Capital Management Co. LP purchased a new stake in Synaptics in the first quarter worth $13,065,000. Finally, Emerald Mutual Fund Advisers Trust grew its stake in Synaptics by 88.7% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 160,993 shares of the software maker’s stock worth $14,200,000 after purchasing an additional 75,680 shares during the period. 99.43% of the stock is owned by hedge funds and other institutional investors.

About Synaptics

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.