Synaptics Incorporated (NASDAQ:SYNA) had its price objective reduced by Stifel Nicolaus from $68.00 to $59.00 in a research report report published on Wednesday, November 8th. They currently have a buy rating on the software maker’s stock.
A number of other brokerages have also recently commented on SYNA. BidaskClub raised Synaptics from a sell rating to a hold rating in a research note on Sunday, July 16th. BMO Capital Markets reissued a hold rating and set a $56.00 target price on shares of Synaptics in a research note on Thursday, July 20th. Cowen and Company set a $75.00 price target on Synaptics and gave the stock an outperform rating in a research note on Thursday, July 27th. Oppenheimer Holdings, Inc. reaffirmed an underperform rating and issued a $45.00 price target (down from $48.00) on shares of Synaptics in a research note on Monday, July 17th. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $55.00 price target (down from $65.00) on shares of Synaptics in a research note on Friday, August 4th. Seven investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. Synaptics has an average rating of Hold and an average target price of $48.03.
Shares of Synaptics (NASDAQ:SYNA) traded down $0.31 on Wednesday, hitting $37.90. The stock had a trading volume of 796,200 shares, compared to its average volume of 891,785. The company has a market cap of $1,290.00, a P/E ratio of 11.69, a PEG ratio of 0.91 and a beta of 1.17. The company has a current ratio of 2.35, a quick ratio of 1.70 and a debt-to-equity ratio of 0.59. Synaptics has a 12-month low of $33.73 and a 12-month high of $64.54.
Synaptics (NASDAQ:SYNA) last released its earnings results on Tuesday, November 7th. The software maker reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.46. The company had revenue of $417.40 million during the quarter, compared to the consensus estimate of $398.68 million. Synaptics had a return on equity of 15.85% and a net margin of 1.06%. Synaptics’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 EPS. equities research analysts expect that Synaptics will post 2.8 EPS for the current year.
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In other news, CFO Wajid Ali sold 2,918 shares of Synaptics stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $41.75, for a total value of $121,826.50. Following the transaction, the chief financial officer now directly owns 27,281 shares in the company, valued at approximately $1,138,981.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.70% of the company’s stock.
A number of hedge funds have recently made changes to their positions in SYNA. UBS Asset Management Americas Inc. grew its stake in Synaptics by 54.0% during the 1st quarter. UBS Asset Management Americas Inc. now owns 24,084 shares of the software maker’s stock worth $1,192,000 after buying an additional 8,449 shares during the last quarter. Parametric Portfolio Associates LLC lifted its position in Synaptics by 37.7% during the 1st quarter. Parametric Portfolio Associates LLC now owns 29,646 shares of the software maker’s stock worth $1,468,000 after acquiring an additional 8,115 shares during the period. Principal Financial Group Inc. lifted its position in Synaptics by 4.0% during the 1st quarter. Principal Financial Group Inc. now owns 146,610 shares of the software maker’s stock worth $7,259,000 after acquiring an additional 5,597 shares during the period. FMR LLC lifted its position in Synaptics by 387.8% during the 1st quarter. FMR LLC now owns 513,850 shares of the software maker’s stock worth $25,441,000 after acquiring an additional 408,500 shares during the period. Finally, California Public Employees Retirement System lifted its position in Synaptics by 4.5% during the 1st quarter. California Public Employees Retirement System now owns 72,100 shares of the software maker’s stock worth $3,570,000 after acquiring an additional 3,100 shares during the period. Hedge funds and other institutional investors own 97.74% of the company’s stock.
Synaptics Incorporated is engaged in the development, marketing and sale of intuitive human interface solutions for electronic devices and products. The Company is a developer and supplier of custom-designed human interface product solutions that enable people to interact with a range of mobile computing, communications, entertainment and other electronic devices.
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