Synaptics Incorporated (NASDAQ:SYNA) Receives Average Recommendation of “Moderate Buy” from Brokerages

Synaptics Incorporated (NASDAQ:SYNA) has been assigned a consensus rating of “Moderate Buy” from the nine brokerages that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $117.67.

SYNA has been the subject of a number of recent research reports. KeyCorp cut their price objective on shares of Synaptics from $135.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, May 10th. TD Cowen cut their price objective on shares of Synaptics from $135.00 to $115.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Wells Fargo & Company cut their price objective on shares of Synaptics from $115.00 to $95.00 and set an “equal weight” rating for the company in a research report on Friday, May 10th. Finally, Needham & Company LLC cut their price objective on shares of Synaptics from $125.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, May 10th.

Synaptics Trading Up 2.3 %

NASDAQ:SYNA opened at $89.64 on Monday. The company has a current ratio of 5.32, a quick ratio of 4.78 and a debt-to-equity ratio of 0.78. Synaptics has a 12 month low of $73.38 and a 12 month high of $121.37. The company has a market cap of $3.54 billion, a PE ratio of -33.08 and a beta of 1.48. The company has a 50 day simple moving average of $90.30 and a two-hundred day simple moving average of $100.16.

Synaptics (NASDAQ:SYNA) last issued its quarterly earnings data on Thursday, May 9th. The software maker reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. Synaptics had a negative net margin of 11.30% and a negative return on equity of 0.90%. The firm had revenue of $237.30 million during the quarter, compared to the consensus estimate of $235.17 million. During the same quarter in the previous year, the firm posted $1.14 EPS. The company’s revenue for the quarter was down 27.3% compared to the same quarter last year. Research analysts forecast that Synaptics will post -0.36 earnings per share for the current year.

Institutional Trading of Synaptics

Several hedge funds have recently bought and sold shares of SYNA. Victory Capital Management Inc. lifted its stake in Synaptics by 1,255.2% in the 4th quarter. Victory Capital Management Inc. now owns 394,383 shares of the software maker’s stock worth $44,991,000 after purchasing an additional 365,282 shares in the last quarter. Norges Bank purchased a new stake in Synaptics in the 4th quarter worth $40,261,000. FMR LLC lifted its stake in Synaptics by 39.3% in the 3rd quarter. FMR LLC now owns 1,124,544 shares of the software maker’s stock worth $100,579,000 after purchasing an additional 317,307 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Synaptics by 49.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 437,966 shares of the software maker’s stock worth $39,172,000 after purchasing an additional 144,252 shares in the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in Synaptics in the 1st quarter worth $13,065,000. Hedge funds and other institutional investors 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.