Synaptics (NASDAQ:SYNA) Shares Gap Down – Time to Sell?

Synaptics Incorporated (NASDAQ:SYNA)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $74.50, but opened at $72.31. Synaptics shares last traded at $74.41, with a volume of 89,274 shares.

Wall Street Analysts Forecast Growth

SYNA has been the topic of several analyst reports. Rosenblatt Securities dropped their target price on Synaptics from $130.00 to $92.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Susquehanna dropped their target price on Synaptics from $110.00 to $95.00 and set a “positive” rating on the stock in a report on Monday, October 21st. TD Cowen upped their price target on Synaptics from $90.00 to $100.00 and gave the company a “buy” rating in a report on Friday, November 8th. Craig Hallum lowered their price target on Synaptics from $105.00 to $80.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Finally, Needham & Company LLC lowered their price target on Synaptics from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Synaptics presently has a consensus rating of “Moderate Buy” and an average target price of $97.33.

Synaptics Stock Performance

The business has a fifty day simple moving average of $73.82 and a two-hundred day simple moving average of $82.22. The company has a quick ratio of 4.02, a current ratio of 4.49 and a debt-to-equity ratio of 0.66. The company has a market cap of $2.96 billion, a P/E ratio of 18.74 and a beta of 1.47.

Insider Buying and Selling at Synaptics

In other Synaptics 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 value of $80,640.00. Following the completion of the sale, the insider now owns 45,789 shares in the company, valued at $3,663,120. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 5,609 shares of company stock valued at $448,720. 1.30% of the stock is owned by company insiders.

Institutional Trading of Synaptics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its position in Synaptics by 261.8% in the third quarter. GAMMA Investing LLC now owns 369 shares of the software maker’s stock worth $29,000 after buying an additional 267 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Synaptics during the second quarter worth about $67,000. Innealta Capital LLC purchased a new stake in shares of Synaptics during the second quarter worth about $83,000. CWM LLC grew its position in shares of Synaptics by 58.1% during the third quarter. CWM LLC now owns 1,151 shares of the software maker’s stock worth $89,000 after purchasing an additional 423 shares in the last quarter. Finally, Van ECK Associates Corp purchased a new stake in shares of Synaptics during the third quarter worth about $132,000. Hedge funds and other institutional investors 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.