Synaptics (NASDAQ:SYNA) Stock Passes Above 200 Day Moving Average – What’s Next?

Synaptics Incorporated (NASDAQ:SYNA)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $79.38 and traded as high as $79.38. Synaptics shares last traded at $77.23, with a volume of 264,645 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. KeyCorp lowered Synaptics from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Susquehanna cut their target price on shares of Synaptics from $110.00 to $95.00 and set a “positive” rating for the company in a report on Monday, October 21st. Needham & Company LLC decreased their target price on shares of Synaptics from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. TD Cowen upped their price objective on Synaptics from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, Rosenblatt Securities lowered their price target on Synaptics from $130.00 to $92.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $97.33.

Synaptics Stock Down 1.8 %

The stock has a market cap of $3.09 billion, a P/E ratio of 19.55 and a beta of 1.45. The company’s 50 day moving average price is $76.29 and its two-hundred day moving average price is $79.16. The company has a quick ratio of 4.02, a current ratio of 4.49 and a debt-to-equity ratio of 0.66.

Insiders Place Their Bets

In other Synaptics news, insider Vikram Gupta sold 411 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $81.63, for a total transaction of $33,549.93. Following the transaction, the insider now owns 40,795 shares of the company’s stock, valued at approximately $3,330,095.85. This trade represents a 1.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Synaptics

A number of hedge funds and other institutional investors have recently modified their holdings of SYNA. Barclays PLC lifted its holdings in Synaptics by 189.7% during the third quarter. Barclays PLC now owns 81,330 shares of the software maker’s stock worth $6,309,000 after buying an additional 53,252 shares during the period. Algert Global LLC lifted its stake in shares of Synaptics by 44.9% during the 3rd quarter. Algert Global LLC now owns 50,797 shares of the software maker’s stock worth $3,941,000 after purchasing an additional 15,750 shares during the last quarter. Point72 Asset Management L.P. boosted 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 valued at $71,875,000 after purchasing an additional 809,712 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Synaptics by 111.7% in the third quarter. BNP Paribas Financial Markets now owns 79,777 shares of the software maker’s stock valued at $6,189,000 after purchasing an additional 42,101 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust raised its holdings 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 worth $14,200,000 after purchasing an additional 75,680 shares in the last quarter. 99.43% of the stock is currently 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.