Synaptics Incorporated (NASDAQ:SYNA) Stock Has Consensus Target Price of $123.09

Synaptics Incorporated (NASDAQ:SYNA) has received a consensus rating of “Hold” from the fourteen ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $123.09.

SYNA has been the topic of a number of research reports. Rosenblatt Securities boosted their target price on shares of Synaptics from $115.00 to $123.00 and gave the stock a “neutral” rating in a research note on Friday, October 2nd. Barclays reiterated an “equal weight” rating and set a $135.00 price target (up from $110.00) on shares of Synaptics in a report on Friday, June 26th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $123.00 price target (down from $140.00) on shares of Synaptics in a research note on Friday, October 2nd. Mizuho increased their price target on Synaptics from $128.00 to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Finally, Susquehanna cut their price objective on Synaptics from $140.00 to $125.00 and set a “neutral” rating on the stock in a report on Tuesday, July 21st.

Synaptics Stock Down 0.1%

SYNA stock opened at $117.05 on Thursday. The firm has a 50-day moving average price of $103.61 and a 200-day moving average price of $110.42. Synaptics has a 12 month low of $58.28 and a 12 month high of $149.11. The company has a current ratio of 1.12, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $4.65 billion, a P/E ratio of -9.25 and a beta of 1.96.

Synaptics (NASDAQ:SYNA) last announced its quarterly earnings results on Thursday, August 6th. The software maker reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.02. The company had revenue of $308.00 million for the quarter, compared to analyst estimates of $305.32 million. Synaptics had a negative net margin of 41.00% and a positive return on equity of 4.37%. The firm’s revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.01 EPS. As a group, equities research analysts anticipate that Synaptics will post 1.98 EPS for the current fiscal year.

Insiders Place Their Bets

In other Synaptics news, insider Lisa Bodensteiner sold 6,056 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $103.62, for a total value of $627,522.72. Following the completion of the transaction, the insider directly owned 78,634 shares in the company, valued at approximately $8,148,055.08. This trade represents a 7.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Esther Song sold 437 shares of Synaptics stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $103.68, for a total value of $45,308.16. Following the sale, the insider directly owned 14,683 shares in the company, valued at $1,522,333.44. The trade was a 2.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 15,951 shares of company stock valued at $1,612,862 in the last 90 days. Corporate insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Synaptics

Hedge funds have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue lifted its holdings in shares of Synaptics by 7.5% during the third quarter. State of Alaska Department of Revenue now owns 5,837 shares of the software maker’s stock worth $591,000 after purchasing an additional 407 shares during the period. GAMMA Investing LLC raised its position in Synaptics by 16.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,757 shares of the software maker’s stock worth $178,000 after purchasing an additional 243 shares during the last quarter. Tidal Investments LLC acquired a new position in Synaptics during the 2nd quarter worth about $711,000. Engineers Gate Manager LP grew its position in shares of Synaptics by 65.8% in the 2nd quarter. Engineers Gate Manager LP now owns 24,078 shares of the software maker’s stock valued at $2,991,000 after buying an additional 9,553 shares during the last quarter. Finally, Corient Private Wealth LP bought a new stake in shares of Synaptics in the 2nd quarter valued at about $239,000. 99.43% of the stock is currently owned by institutional investors and hedge funds.

About Synaptics

Synaptics Incorporated (NASDAQ: SYNA) is a fabless semiconductor company that develops technologies for human-machine interaction, connectivity and edge computing. Its solutions are designed to help people interact with electronic devices and enable connected products to process data closer to where it is generated.

The company’s product portfolio includes touch and gesture controllers, touchpads, touchscreen and display technologies, fingerprint sensors, wireless connectivity solutions, video and audio products, and system-on-chip platforms.