Mizuho lowered shares of Synaptics Incorporated (NASDAQ:SYNA) from a buy rating to a neutral rating in a research report report published on Monday, MarketBeat Ratings reports. They currently have $42.00 target price on the software maker’s stock, down from their prior target price of $60.00.
A number of other equities research analysts have also issued reports on SYNA. BMO Capital Markets restated a hold rating and set a $56.00 price target on shares of Synaptics in a report on Tuesday, June 13th. Pacific Crest restated an equal weight rating on shares of Synaptics in a report on Tuesday, June 20th. BidaskClub lowered shares of Synaptics from a buy rating to a hold rating in a report on Wednesday, June 21st. Rosenblatt Securities restated a buy rating and set a $70.00 price target on shares of Synaptics in a report on Monday, June 26th. Finally, Oppenheimer Holdings, Inc. restated an underperform rating and set a $45.00 price target (down previously from $48.00) on shares of Synaptics in a report on Monday, July 17th. Seven equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $51.16.
Shares of Synaptics (SYNA) opened at 37.72 on Monday. The stock has a market capitalization of $1.27 billion, a PE ratio of 27.53 and a beta of 1.20. Synaptics has a 1-year low of $36.36 and a 1-year high of $69.45. The firm has a 50-day moving average of $39.35 and a 200 day moving average of $49.04.
Synaptics (NASDAQ:SYNA) last released its quarterly earnings results on Thursday, August 3rd. The software maker reported $0.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.11. Synaptics had a net margin of 2.84% and a return on equity of 16.51%. The business had revenue of $426.50 million for the quarter, compared to analyst estimates of $426.49 million. During the same quarter in the previous year, the business earned $0.46 earnings per share. The firm’s revenue was up 31.7% compared to the same quarter last year. On average, equities analysts anticipate that Synaptics will post $4.48 earnings per share for the current fiscal year.
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Institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Arbitrage SA increased its stake in shares of Synaptics by 64.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 20,645 shares of the software maker’s stock worth $1,068,000 after purchasing an additional 8,126 shares during the last quarter. Artemis Investment Management LLP increased its stake in shares of Synaptics by 2,784.7% during the 2nd quarter. Artemis Investment Management LLP now owns 61,791 shares of the software maker’s stock worth $3,195,000 after purchasing an additional 59,649 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Synaptics by 55.6% during the 1st quarter. First Trust Advisors LP now owns 36,290 shares of the software maker’s stock worth $1,797,000 after purchasing an additional 12,968 shares during the last quarter. Chicago Equity Partners LLC acquired a new position in shares of Synaptics during the 2nd quarter worth $879,000. Finally, OppenheimerFunds Inc. increased its stake in shares of Synaptics by 0.5% during the 1st quarter. OppenheimerFunds Inc. now owns 508,515 shares of the software maker’s stock worth $25,177,000 after purchasing an additional 2,703 shares during the last quarter. Institutional investors own 97.74% of the company’s stock.
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.
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