Synaptics (NASDAQ:SYNA) Trading Down 1.7%

Shares of Synaptics Incorporated (NASDAQ:SYNA) were down 1.7% during trading on Wednesday . The company traded as low as $95.64 and last traded at $96.13. Approximately 54,528 shares were traded during trading, a decline of 81% from the average daily volume of 285,965 shares. The stock had previously closed at $97.76.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Needham & Company LLC reduced their price target 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. KeyCorp decreased their target price on Synaptics from $135.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, May 10th. TD Cowen lowered their price target on Synaptics from $135.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Finally, Wells Fargo & Company decreased their price objective on Synaptics from $115.00 to $95.00 and set an “equal weight” rating on the stock in a report on Friday, May 10th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Synaptics presently has an average rating of “Moderate Buy” and an average price target of $117.67.

Synaptics Price Performance

The stock has a 50 day moving average price of $90.98 and a two-hundred day moving average price of $97.08. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of -32.66 and a beta of 1.47. The company has a debt-to-equity ratio of 0.78, a current ratio of 5.32 and a quick ratio of 4.78.

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

Institutional Trading of Synaptics

Several institutional investors have recently modified their holdings of SYNA. Vanguard Group Inc. boosted its position 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 purchasing an additional 72,044 shares during the period. Wellington Management Group LLP boosted its stake in shares of 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 buying an additional 44,548 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Synaptics by 1,255.2% during the fourth quarter. Victory Capital Management Inc. now owns 394,383 shares of the software maker’s stock worth $44,991,000 after acquiring an additional 365,282 shares during the period. Goldman Sachs Group Inc. grew its stake 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 acquired a new position in Synaptics during the fourth quarter worth about $40,261,000. Hedge funds and other institutional investors own 99.43% of the company’s stock.

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.