Stifel Nicolaus Lowers Synaptics Incorporated (NASDAQ:SYNA) Price Target to $59.00

Synaptics Incorporated (NASDAQ:SYNA) had its price objective reduced by Stifel Nicolaus from $68.00 to $59.00 in a research report sent to investors on Wednesday, November 8th. They currently have a buy rating on the software maker’s stock.

Several other analysts have also recently commented on the company. Rosenblatt Securities cut Synaptics from a buy rating to a neutral rating and set a $36.00 target price for the company. in a research report on Friday, November 3rd. J P Morgan Chase & Co set a $53.00 target price on Synaptics and gave the stock a buy rating in a research report on Thursday, October 26th. Zacks Investment Research cut Synaptics from a buy rating to a hold rating in a research report on Tuesday, October 24th. Cowen Inc set a $60.00 price objective on Synaptics and gave the company a buy rating in a research report on Wednesday, October 11th. Finally, Mizuho cut Synaptics from a buy rating to a neutral rating and reduced their price objective for the company from $60.00 to $42.00 in a research report on Monday, October 9th. Seven equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. Synaptics currently has an average rating of Hold and a consensus price target of $48.03.

Synaptics (NASDAQ SYNA) opened at $38.10 on Wednesday. The stock has a market capitalization of $1,344.56, a price-to-earnings ratio of 12.08, a P/E/G ratio of 0.94 and a beta of 1.17. The company has a quick ratio of 1.70, a current ratio of 2.35 and a debt-to-equity ratio of 0.59. Synaptics has a 1-year low of $33.73 and a 1-year high of $64.54.

Synaptics (NASDAQ:SYNA) last issued its earnings results on Tuesday, November 7th. The software maker reported $1.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.46. The business had revenue of $417.40 million during the quarter, compared to analysts’ expectations of $398.68 million. Synaptics had a return on equity of 15.85% and a net margin of 1.06%. Synaptics’s revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.03 earnings per share. analysts anticipate that Synaptics will post 2.8 earnings per share for the current fiscal year.

In other news, CFO Wajid Ali sold 2,918 shares of Synaptics stock in a transaction dated 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 $1,138,981.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rick Bergman sold 2,000 shares of Synaptics stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $40.00, for a total value of $80,000.00. Following the completion of the transaction, the insider now owns 130,307 shares in the company, valued at $5,212,280. The disclosure for this sale can be found here. 3.70% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of SYNA. Public Employees Retirement System of Ohio increased its stake in Synaptics by 49.7% during the third quarter. Public Employees Retirement System of Ohio now owns 87,378 shares of the software maker’s stock valued at $3,423,000 after acquiring an additional 29,010 shares during the period. Jane Street Group LLC increased its stake in Synaptics by 100.4% during the third quarter. Jane Street Group LLC now owns 9,075 shares of the software maker’s stock valued at $356,000 after acquiring an additional 4,547 shares during the period. Cornerstone Capital Management Holdings LLC. increased its stake in Synaptics by 305.3% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 48,321 shares of the software maker’s stock valued at $1,893,000 after acquiring an additional 36,400 shares during the period. Engineers Gate Manager LP increased its stake in Synaptics by 186.4% during the third quarter. Engineers Gate Manager LP now owns 88,192 shares of the software maker’s stock valued at $3,455,000 after acquiring an additional 57,402 shares during the period. Finally, Stifel Financial Corp increased its stake in Synaptics by 35.8% during the third quarter. Stifel Financial Corp now owns 44,666 shares of the software maker’s stock valued at $1,762,000 after acquiring an additional 11,776 shares during the period. Institutional investors and hedge funds own 97.74% of the company’s stock.

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Synaptics Company Profile

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.

Analyst Recommendations for Synaptics (NASDAQ:SYNA)

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