Synaptics (NASDAQ:SYNA) Shares Down 10.3%

Synaptics Incorporated (NASDAQ:SYNA)’s share price was down 10.3% on Tuesday . The stock traded as low as $73.05 and last traded at $73.05. Approximately 179,098 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 300,735 shares. The stock had previously closed at $81.42.

Analyst Ratings Changes

SYNA has been the subject of several research analyst reports. Needham & Company LLC cut their price target on Synaptics from $110.00 to $95.00 and set a “buy” rating for the company in a report on Friday, August 9th. KeyCorp reduced their target price on shares of Synaptics from $115.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. JPMorgan Chase & Co. cut their price objective on shares of Synaptics from $120.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Wells Fargo & Company cut their price objective on shares of Synaptics from $115.00 to $95.00 and set an “equal weight” rating on the stock in a report on Friday, May 10th. Finally, Craig Hallum cut their price objective on shares of Synaptics from $105.00 to $80.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Synaptics has a consensus rating of “Moderate Buy” and an average price target of $105.44.

Synaptics Stock Performance

The company has a market cap of $2.97 billion, a PE ratio of -27.73 and a beta of 1.47. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.78 and a current ratio of 4.19. The firm’s 50 day moving average is $82.54 and its 200-day moving average is $90.15.

Synaptics (NASDAQ:SYNA) last posted its earnings results on Thursday, August 8th. The software maker reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.09. The company had revenue of $247.40 million for the quarter, compared to analyst estimates of $245.17 million. Synaptics had a net margin of 13.09% and a negative return on equity of 0.54%. Synaptics’s revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.01 EPS. On average, research analysts anticipate that Synaptics Incorporated will post 0.72 earnings per share for the current fiscal year.

Insider Buying and Selling at Synaptics

In other Synaptics news, insider Vikram Gupta sold 1,008 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were 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 of the company’s stock, valued at approximately $3,663,120. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last three months, insiders have sold 3,652 shares of company stock valued at $300,226. Insiders own 1.20% of the company’s stock.

Institutional Trading of Synaptics

A number of hedge funds and other institutional investors have recently made changes to their positions in SYNA. CWM LLC increased its position in shares of Synaptics by 26.0% during the first quarter. CWM LLC now owns 673 shares of the software maker’s stock worth $66,000 after purchasing an additional 139 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Synaptics in the 2nd quarter valued at about $67,000. Register Financial Advisors LLC acquired a new position in Synaptics in the 1st quarter valued at about $76,000. Innealta Capital LLC acquired a new position in Synaptics in the 2nd quarter valued at about $83,000. Finally, nVerses Capital LLC acquired a new position in Synaptics in the 2nd quarter valued at about $141,000. Institutional investors and hedge funds own 99.43% of the company’s stock.

Synaptics Company Profile

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.