Synaptics (NASDAQ:SYNA) Trading Down 1.4%

Synaptics Incorporated (NASDAQ:SYNA)’s stock price dropped 1.4% during trading on Tuesday . The stock traded as low as $86.31 and last traded at $86.62. Approximately 22,791 shares traded hands during trading, a decline of 92% from the average daily volume of 281,207 shares. The stock had previously closed at $87.84.

Analysts Set New Price Targets

SYNA has been the subject of several recent research reports. KeyCorp decreased their price target 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. Wells Fargo & Company cut their target price on shares of Synaptics from $115.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Friday, May 10th. TD Cowen decreased their price target on shares of Synaptics from $135.00 to $115.00 and set a “buy” rating for the company in a research note 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 on the stock in a research report on Friday, May 10th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Synaptics currently has an average rating of “Moderate Buy” and a consensus target price of $117.67.

Synaptics Stock Down 2.2 %

The company has a market capitalization of $3.39 billion, a PE ratio of -31.96 and a beta of 1.47. The stock’s fifty day moving average is $90.67 and its two-hundred day moving average is $96.04. 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 (NASDAQ:SYNA) last released its earnings results on Thursday, May 9th. The software maker reported $0.53 earnings per share 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 for the quarter, compared to analysts’ expectations of $235.17 million. During the same period in the previous year, the company earned $1.14 earnings per share. The company’s quarterly revenue was down 27.3% on a year-over-year basis. As a group, analysts predict that Synaptics Incorporated will post -0.36 EPS for the current year.

Institutional Investors Weigh In On Synaptics

Large investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its holdings in Synaptics by 1,255.2% during the 4th quarter. Victory Capital Management Inc. now owns 394,383 shares of the software maker’s stock valued at $44,991,000 after buying an additional 365,282 shares in the last quarter. Norges Bank purchased a new position in shares of Synaptics during the 4th quarter valued at $40,261,000. Bank of New York Mellon Corp increased its holdings in shares of Synaptics by 18.1% in the second quarter. Bank of New York Mellon Corp now owns 1,259,106 shares of the software maker’s stock worth $111,053,000 after purchasing an additional 193,182 shares during the period. Westfield Capital Management Co. LP purchased a new stake in Synaptics during the first quarter valued at about $13,065,000. Finally, Goldman Sachs Group Inc. lifted its stake in Synaptics by 34.5% during the fourth 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 last quarter. 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.