Synaptics’ (SYNA) Buy Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Synaptics (NASDAQ:SYNA) in a report released on Thursday, Benzinga reports. They currently have a $130.00 price objective on the software maker’s stock.

Several other analysts also recently commented on the company. Susquehanna dropped their price objective on Synaptics from $110.00 to $95.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. KeyCorp cut Synaptics from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Craig Hallum lowered their target price on Synaptics from $105.00 to $80.00 and set a “hold” rating for the company in a research note on Friday, August 9th. JPMorgan Chase & Co. cut their price target on shares of Synaptics from $120.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Finally, TD Cowen lowered their price objective on shares of Synaptics from $115.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $101.00.

Synaptics Price Performance

Shares of SYNA opened at $70.22 on Thursday. The stock has a market cap of $2.80 billion, a P/E ratio of 22.65 and a beta of 1.47. Synaptics has a 1 year low of $67.83 and a 1 year high of $121.37. The stock’s 50-day moving average price is $74.49 and its two-hundred day moving average price is $82.78. The company has a current ratio of 4.19, a quick ratio of 3.78 and a debt-to-equity ratio of 0.66.

Synaptics (NASDAQ:SYNA) last released its quarterly earnings data on Thursday, August 8th. The software maker reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.09. Synaptics had a net margin of 13.09% and a negative return on equity of 0.54%. The business had revenue of $247.40 million for the quarter, compared to analyst estimates of $245.17 million. During the same quarter last year, the firm earned $0.01 EPS. Synaptics’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, equities analysts predict that Synaptics will post 0.81 earnings per share for the current year.

Insider Activity

In related news, insider Vikram Gupta sold 1,008 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $80.00, for a total transaction of $80,640.00. Following the sale, the insider now owns 45,789 shares in the company, valued at approximately $3,663,120. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold 5,609 shares of company stock worth $448,720 in the last quarter. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Synaptics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new position in shares of Synaptics during the 1st quarter worth about $586,000. CANADA LIFE ASSURANCE Co grew its holdings in Synaptics by 27.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 28,815 shares of the software maker’s stock worth $2,807,000 after purchasing an additional 6,276 shares during the period. Point72 Asset Management L.P. increased its position in Synaptics by 15,571.4% during the second quarter. Point72 Asset Management L.P. now owns 814,912 shares of the software maker’s stock worth $71,875,000 after buying an additional 809,712 shares during the last quarter. Emerald Mutual Fund Advisers Trust raised its stake in Synaptics by 88.7% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 160,993 shares of the software maker’s stock valued at $14,200,000 after buying an additional 75,680 shares during the period. Finally, Squarepoint Ops LLC acquired a new stake in shares of Synaptics in the second quarter valued at approximately $941,000. 99.43% of the stock is owned by institutional investors.

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.