Synaptics (NASDAQ:SYNA) Hits New 52-Week Low – Time to Sell?

Synaptics Incorporated (NASDAQ:SYNA)’s stock price reached a new 52-week low on Tuesday . The company traded as low as $67.64 and last traded at $67.71, with a volume of 313100 shares changing hands. The stock had previously closed at $69.45.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Rosenblatt Securities restated a “buy” rating and issued a $92.00 price target on shares of Synaptics in a report on Tuesday, February 4th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 target price on shares of Synaptics in a research note on Tuesday, February 4th. Craig Hallum upgraded shares of Synaptics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 29th. TD Cowen lifted their target price on shares of Synaptics from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, Susquehanna lifted their target price on shares of Synaptics from $95.00 to $105.00 and gave the stock a “positive” rating in a research note on Wednesday, January 22nd. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Synaptics currently has an average rating of “Moderate Buy” and a consensus target price of $95.25.

Synaptics Stock Performance

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 has a market capitalization of $2.74 billion, a PE ratio of 16.13 and a beta of 1.45. The firm’s fifty day moving average price is $79.49 and its two-hundred day moving average price is $76.92.

Insiders Place Their Bets

In other news, insider Vikram Gupta sold 411 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $81.63, for a total value of $33,549.93. Following the completion of the sale, the insider now directly owns 40,795 shares in the company, valued at $3,330,095.85. This represents a 1.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Synaptics

Hedge funds have recently modified their holdings of the business. Louisiana State Employees Retirement System grew its holdings in shares of Synaptics by 1.8% in the fourth quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the software maker’s stock valued at $847,000 after purchasing an additional 200 shares during the period. State of Michigan Retirement System boosted its stake in Synaptics by 2.1% during the fourth quarter. State of Michigan Retirement System now owns 9,533 shares of the software maker’s stock worth $728,000 after buying an additional 200 shares during the period. Arizona State Retirement System boosted its stake in Synaptics by 1.8% during the fourth quarter. Arizona State Retirement System now owns 11,573 shares of the software maker’s stock worth $883,000 after buying an additional 200 shares during the period. Inspire Advisors LLC boosted its stake in Synaptics by 2.7% during the fourth quarter. Inspire Advisors LLC now owns 8,175 shares of the software maker’s stock worth $624,000 after buying an additional 212 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Synaptics by 261.8% during 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 during the period. 99.43% of the stock is currently owned by institutional investors and hedge funds.

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.