Synaptics Incorporated (NASDAQ:SYNA) Receives $96.88 Consensus Target Price from Brokerages

Synaptics Incorporated (NASDAQ:SYNA) has been given an average recommendation of “Moderate Buy” by the eight research firms that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $96.88.

Several brokerages recently weighed in on SYNA. Rosenblatt Securities reissued a “buy” rating and issued a $105.00 price objective on shares of Synaptics in a report on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price objective on shares of Synaptics in a report on Tuesday, February 4th. Craig Hallum raised Synaptics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 29th. Finally, Susquehanna lifted their target price on Synaptics from $95.00 to $105.00 and gave the company a “positive” rating in a report on Wednesday, January 22nd.

Synaptics Trading Down 1.0 %

NASDAQ SYNA opened at $64.10 on Wednesday. The business’s fifty day moving average is $72.74 and its 200-day moving average is $74.75. Synaptics has a one year low of $60.75 and a one year high of $99.99. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 15.15 and a beta of 1.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.88 and a quick ratio of 3.36.

Insider Transactions at Synaptics

In other Synaptics news, insider Ken Rizvi acquired 3,600 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was bought at an average price of $69.15 per share, with a total value of $248,940.00. Following the completion of the acquisition, the insider now owns 27,630 shares of the company’s stock, valued at $1,910,614.50. This trade represents a 14.98 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 1.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SYNA. Toronto Dominion Bank purchased a new position in shares of Synaptics during the fourth quarter worth about $152,895,000. Norges Bank bought a new stake in Synaptics in the 4th quarter worth approximately $43,481,000. Groupama Asset Managment bought a new stake in Synaptics in the 4th quarter worth approximately $38,160,000. TimesSquare Capital Management LLC lifted its position in Synaptics by 46.0% in the 4th quarter. TimesSquare Capital Management LLC now owns 526,335 shares of the software maker’s stock worth $40,170,000 after buying an additional 165,866 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in Synaptics by 341.9% in the 4th quarter. Deutsche Bank AG now owns 189,398 shares of the software maker’s stock worth $14,455,000 after buying an additional 146,540 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.