Synaptics (NASDAQ:SYNA) Trading Up 0.8%

Synaptics Incorporated (NASDAQ:SYNA) was up 0.8% on Tuesday . The stock traded as high as $72.84 and last traded at $72.84. Approximately 46,226 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 285,674 shares. The stock had previously closed at $72.28.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SYNA. KeyCorp reduced their target price on shares of Synaptics from $135.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, May 10th. Needham & Company LLC reduced their price target on Synaptics from $125.00 to $110.00 and set a “buy” rating for the company in a report on Friday, May 10th. Wells Fargo & Company dropped their price target on Synaptics from $115.00 to $95.00 and set an “equal weight” rating for the company in a research report on Friday, May 10th. Finally, TD Cowen decreased their price target on shares of Synaptics from $135.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $117.67.

Synaptics Price Performance

The firm has a market cap of $2.84 billion, a price-to-earnings ratio of -26.88 and a beta of 1.47. The company has a current ratio of 5.32, a quick ratio of 4.78 and a debt-to-equity ratio of 0.78. The stock has a 50-day moving average of $89.97 and a two-hundred day moving average of $95.44.

Synaptics (NASDAQ:SYNA) last announced its earnings results on Thursday, May 9th. The software maker reported $0.53 EPS for the quarter, topping the consensus estimate of $0.49 by $0.04. The firm had revenue of $237.30 million for the quarter, compared to the consensus estimate of $235.17 million. Synaptics had a negative net margin of 11.30% and a negative return on equity of 0.90%. The business’s quarterly revenue was down 27.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.14 EPS. On average, analysts anticipate that Synaptics Incorporated will post -0.36 EPS for the current year.

Hedge Funds Weigh In On Synaptics

Several hedge funds have recently added to or reduced their stakes in SYNA. CWM LLC grew its holdings in Synaptics by 26.0% during the first quarter. CWM LLC now owns 673 shares of the software maker’s stock valued at $66,000 after purchasing an additional 139 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Synaptics in the 2nd quarter valued at approximately $67,000. Register Financial Advisors LLC bought a new stake in shares of Synaptics in the first quarter worth $76,000. Innealta Capital LLC bought a new stake in Synaptics during the 2nd quarter worth about $83,000. Finally, nVerses Capital LLC acquired a new position in shares of Synaptics during the 2nd quarter worth approximately $141,000. 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.