Synaptics’ (SYNA) “Buy” Rating Reaffirmed at Rosenblatt Securities

Synaptics (NASDAQ:SYNA)‘s stock had its “buy” rating reissued by analysts at Rosenblatt Securities in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $92.00 price objective on the software maker’s stock. Rosenblatt Securities’ price target would suggest a potential upside of 21.20% from the company’s current price.

SYNA has been the topic of a number of other research reports. Susquehanna increased their price target on Synaptics from $95.00 to $105.00 and gave the company a “positive” rating in a research note on Wednesday, January 22nd. Needham & Company LLC restated a “buy” rating and issued a $90.00 price target on shares of Synaptics in a research note on Wednesday, January 29th. Craig Hallum upgraded Synaptics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 29th. TD Cowen increased their price objective on Synaptics from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, KeyCorp cut Synaptics from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Synaptics currently has an average rating of “Moderate Buy” and an average target price of $98.44.

Synaptics Stock Up 2.1 %

SYNA opened at $75.91 on Tuesday. Synaptics has a 1-year low of $67.83 and a 1-year high of $115.85. The stock’s fifty day simple moving average is $79.98 and its 200 day simple moving average is $77.39. The company has a current ratio of 4.49, a quick ratio of 4.02 and a debt-to-equity ratio of 0.66. The stock has a market cap of $3.04 billion, a PE ratio of 19.22 and a beta of 1.45.

Insider Transactions at Synaptics

In other news, insider Vikram Gupta sold 411 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $81.63, for a total transaction of $33,549.93. Following the sale, the insider now directly owns 40,795 shares of the company’s stock, valued at approximately $3,330,095.85. This represents a 1.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by insiders.

Institutional Trading of Synaptics

Large investors have recently modified their holdings of the stock. TimesSquare Capital Management LLC grew its position in Synaptics by 46.0% in the fourth quarter. TimesSquare Capital Management LLC now owns 526,335 shares of the software maker’s stock valued at $40,170,000 after acquiring an additional 165,866 shares during the last quarter. Peregrine Capital Management LLC grew its holdings in shares of Synaptics by 210.0% during the 4th quarter. Peregrine Capital Management LLC now owns 204,829 shares of the software maker’s stock valued at $15,633,000 after purchasing an additional 138,748 shares during the last quarter. Barclays PLC increased its position in Synaptics by 189.7% during the 3rd quarter. Barclays PLC now owns 81,330 shares of the software maker’s stock worth $6,309,000 after purchasing an additional 53,252 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Synaptics by 111.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 79,777 shares of the software maker’s stock valued at $6,189,000 after purchasing an additional 42,101 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in Synaptics by 5.8% in the third quarter. Victory Capital Management Inc. now owns 577,523 shares of the software maker’s stock valued at $44,804,000 after buying an additional 31,565 shares in the last quarter. 99.43% of the stock is owned by institutional investors and hedge funds.

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.