Synaptics (NASDAQ:SYNA) Downgraded by KeyCorp

KeyCorp lowered shares of Synaptics (NASDAQ:SYNA) from an overweight rating to a sector weight rating in a report released on Tuesday morning, Marketbeat Ratings reports.

A number of other research analysts also recently issued reports on the stock. Needham & Company LLC decreased their target price on shares of Synaptics from $110.00 to $95.00 and set a buy rating for the company in a research report on Friday, August 9th. Craig Hallum lowered their target price on Synaptics from $105.00 to $80.00 and set a hold rating on the stock in a research note on Friday, August 9th. TD Cowen reduced their price target on Synaptics from $115.00 to $90.00 and set a buy rating for the company in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. lowered their price objective on Synaptics from $120.00 to $100.00 and set an overweight rating on the stock in a research report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $105.44.

Synaptics Trading Up 1.4 %

NASDAQ:SYNA opened at $73.20 on Tuesday. The company has a current ratio of 4.19, a quick ratio of 3.78 and a debt-to-equity ratio of 0.66. The firm has a fifty day simple moving average of $75.20 and a 200-day simple moving average of $85.07. The company has a market capitalization of $2.92 billion, a P/E ratio of 23.61 and a beta of 1.46. Synaptics has a 12 month low of $67.83 and a 12 month high of $121.37.

Synaptics (NASDAQ:SYNA) last released its earnings results on Thursday, August 8th. The software maker reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.09. Synaptics had a negative return on equity of 0.54% and a net margin of 13.09%. The firm had revenue of $247.40 million during the quarter, compared to the consensus estimate of $245.17 million. During the same quarter in the previous year, the company posted $0.01 earnings per share. The company’s revenue was up 8.8% compared to the same quarter last year. On average, equities research analysts anticipate that Synaptics will post 0.72 earnings per share for the current year.

Insider Activity

In other Synaptics news, insider Vikram Gupta sold 1,008 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $80.00, for a total transaction of $80,640.00. Following the completion of the transaction, the insider now directly owns 45,789 shares in the company, valued at approximately $3,663,120. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold 5,609 shares of company stock worth $448,720 in the last quarter. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Synaptics

Several large investors have recently bought and sold shares of SYNA. Quantbot Technologies LP acquired a new stake in shares of Synaptics in the first quarter worth approximately $586,000. CANADA LIFE ASSURANCE Co lifted its holdings in Synaptics by 27.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 28,815 shares of the software maker’s stock valued at $2,807,000 after purchasing an additional 6,276 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in Synaptics by 15,571.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 814,912 shares of the software maker’s stock worth $71,875,000 after purchasing an additional 809,712 shares during the last quarter. Emerald Mutual Fund Advisers Trust grew its holdings in shares of Synaptics by 88.7% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 160,993 shares of the software maker’s stock worth $14,200,000 after buying an additional 75,680 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in shares of Synaptics in the second quarter valued at about $941,000. 99.43% of the stock is currently owned by hedge funds and other institutional investors.

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.