Synaptics Incorporated (NASDAQ:SYNA) Receives Average Rating of “Moderate Buy” from Brokerages

Synaptics Incorporated (NASDAQ:SYNA) has been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $97.33.

A number of research firms recently weighed in on SYNA. Craig Hallum decreased their price target on Synaptics from $105.00 to $80.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Susquehanna decreased their price target on Synaptics from $110.00 to $95.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. TD Cowen lifted their price target on Synaptics from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, November 8th. KeyCorp downgraded Synaptics from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Finally, Rosenblatt Securities decreased their price target on Synaptics from $130.00 to $92.00 and set a “buy” rating on the stock in a research note on Friday, November 8th.

Synaptics Trading Down 1.1 %

NASDAQ:SYNA opened at $73.85 on Thursday. The firm has a market cap of $2.96 billion, a P/E ratio of 18.70 and a beta of 1.47. The company has a current ratio of 4.49, a quick ratio of 4.02 and a debt-to-equity ratio of 0.66. The stock’s 50 day simple moving average is $73.94 and its 200-day simple moving average is $81.86. Synaptics has a 12-month low of $67.83 and a 12-month high of $121.37.

Insider Transactions at Synaptics

In related news, insider Vikram Gupta sold 1,008 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $80.00, for a total value of $80,640.00. Following the sale, the insider now directly owns 45,789 shares in the company, valued at $3,663,120. This trade represents a 2.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders have sold 5,609 shares of company stock worth $448,720. 1.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Synaptics

Several hedge funds have recently modified their holdings of SYNA. Heron Bay Capital Management boosted its stake in shares of Synaptics by 1.3% during the 1st quarter. Heron Bay Capital Management now owns 9,197 shares of the software maker’s stock worth $897,000 after acquiring an additional 116 shares in the last quarter. US Bancorp DE boosted its stake in shares of Synaptics by 3.5% during the 1st quarter. US Bancorp DE now owns 3,603 shares of the software maker’s stock worth $352,000 after acquiring an additional 123 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Synaptics by 0.3% during the 1st quarter. Russell Investments Group Ltd. now owns 48,665 shares of the software maker’s stock worth $4,748,000 after acquiring an additional 163 shares in the last quarter. Choreo LLC boosted its stake in shares of Synaptics by 3.9% during the 2nd quarter. Choreo LLC now owns 4,845 shares of the software maker’s stock worth $417,000 after acquiring an additional 180 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of Synaptics by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 11,002 shares of the software maker’s stock worth $970,000 after acquiring an additional 229 shares in the last quarter. 99.43% of the stock is currently owned by institutional investors and hedge funds.

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.