Synaptics (NASDAQ:SYNA) Trading Up 3.8%

Synaptics Incorporated (NASDAQ:SYNA) shares shot up 3.8% on Tuesday . The company traded as high as $95.85 and last traded at $95.85. 68,450 shares changed hands during trading, a decline of 76% from the average session volume of 285,900 shares. The stock had previously closed at $92.36.

Analyst Ratings Changes

SYNA has been the topic of a number of research reports. TD Cowen reduced their target price on shares of Synaptics from $135.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Needham & Company LLC reduced their price objective on Synaptics from $125.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Wells Fargo & Company decreased their target price on 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, KeyCorp cut their price target on Synaptics from $135.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, May 10th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $117.67.

Synaptics Trading Up 5.8 %

The company has a quick ratio of 4.78, a current ratio of 5.32 and a debt-to-equity ratio of 0.78. The company’s 50-day moving average is $90.80 and its 200 day moving average is $97.25. The company has a market cap of $3.86 billion, a price-to-earnings ratio of -35.37 and a beta of 1.47.

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

Institutional Trading of Synaptics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Synaptics by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 4,692,436 shares of the software maker’s stock valued at $419,691,000 after buying an additional 72,044 shares during the period. Wellington Management Group LLP raised its position in Synaptics by 3.4% in the fourth quarter. Wellington Management Group LLP now owns 1,373,759 shares of the software maker’s stock valued at $156,718,000 after purchasing an additional 44,548 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Synaptics by 1,255.2% in the 4th quarter. Victory Capital Management Inc. now owns 394,383 shares of the software maker’s stock valued at $44,991,000 after purchasing an additional 365,282 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Synaptics by 34.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 390,251 shares of the software maker’s stock worth $44,520,000 after purchasing an additional 100,150 shares during the period. Finally, Norges Bank purchased a new stake in Synaptics in the 4th quarter valued at about $40,261,000. 99.43% of the stock is 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.