Synaptics (NASDAQ:SYNA) Sees Strong Trading Volume – Still a Buy?

Synaptics Incorporated (NASDAQ:SYNA) shares saw unusually-strong trading volume on Friday . Approximately 1,245,263 shares changed hands during mid-day trading, an increase of 293% from the previous session’s volume of 316,907 shares.The stock last traded at $75.30 and had previously closed at $75.24.

Wall Street Analyst Weigh In

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

Synaptics Price Performance

The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.02 and a current ratio of 4.49. The stock’s 50 day simple moving average is $73.82 and its two-hundred day simple moving average is $82.17. The firm has a market capitalization of $2.99 billion, a PE ratio of 19.05 and a beta of 1.47.

Insiders Place Their Bets

In other Synaptics news, insider Vikram Gupta sold 1,008 shares of Synaptics stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $80.00, for a total transaction of $80,640.00. Following the transaction, the insider now directly owns 45,789 shares of the company’s stock, valued at $3,663,120. The trade was a 2.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have sold 5,609 shares of company stock valued at $448,720. Insiders own 1.30% of the company’s stock.

Institutional Trading of Synaptics

Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its position in Synaptics by 261.8% in the third quarter. GAMMA Investing LLC now owns 369 shares of the software maker’s stock worth $29,000 after acquiring an additional 267 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Synaptics in the 2nd quarter valued at $67,000. Innealta Capital LLC purchased a new position in shares of Synaptics during the 2nd quarter worth $83,000. CWM LLC increased its position in shares of Synaptics by 58.1% during the 3rd quarter. CWM LLC now owns 1,151 shares of the software maker’s stock worth $89,000 after purchasing an additional 423 shares during the last quarter. Finally, Van ECK Associates Corp purchased a new stake in Synaptics in the 3rd quarter valued at about $132,000. Institutional investors and hedge funds own 99.43% of the company’s stock.

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.