Synaptics (NASDAQ:SYNA) Price Target Raised to $135.00

Synaptics (NASDAQ:SYNAFree Report) had its price objective upped by KeyCorp from $125.00 to $135.00 in a report published on Friday morning, Benzinga reports. They currently have an overweight rating on the software maker’s stock.

Other analysts also recently issued research reports about the company. StockNews.com downgraded Synaptics from a hold rating to a sell rating in a research note on Monday, January 29th. Mizuho reduced their price target on Synaptics from $127.00 to $124.00 and set a buy rating for the company in a report on Friday. Craig Hallum cut Synaptics from a buy rating to a hold rating and set a $105.00 target price for the company. in a report on Friday. Susquehanna increased their target price on Synaptics from $130.00 to $135.00 and gave the company a positive rating in a report on Friday. Finally, Rosenblatt Securities increased their price target on Synaptics from $110.00 to $130.00 and gave the company a buy rating in a report on Friday. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $125.36.

Get Our Latest Stock Analysis on Synaptics

Synaptics Stock Up 1.3 %

Synaptics stock opened at $113.68 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 4.04 and a current ratio of 4.53. The business’s 50-day simple moving average is $109.53 and its two-hundred day simple moving average is $97.46. The company has a market cap of $4.47 billion, a PE ratio of -57.13 and a beta of 1.61. Synaptics has a fifty-two week low of $67.73 and a fifty-two week high of $129.34.

Synaptics (NASDAQ:SYNAGet Free Report) last posted its quarterly earnings results on Thursday, February 8th. The software maker reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.11. Synaptics had a positive return on equity of 3.01% and a negative net margin of 7.54%. The business had revenue of $237.00 million for the quarter, compared to the consensus estimate of $235.26 million. During the same quarter in the previous year, the business earned $1.47 EPS. The company’s quarterly revenue was down 32.9% compared to the same quarter last year. Equities analysts anticipate that Synaptics will post -0.49 EPS for the current year.

Insider Buying and Selling

In other news, insider John Mcfarland sold 884 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $105.83, for a total transaction of $93,553.72. Following the completion of the transaction, the insider now directly owns 15,183 shares in the company, valued at $1,606,816.89. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Metropolitan Life Insurance Co NY raised its stake in Synaptics by 3.8% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 2,443 shares of the software maker’s stock valued at $232,000 after buying an additional 89 shares in the last quarter. US Bancorp DE raised its stake in Synaptics by 2.7% in the fourth quarter. US Bancorp DE now owns 3,480 shares of the software maker’s stock valued at $397,000 after buying an additional 93 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in Synaptics by 2.8% in the third quarter. Commonwealth Equity Services LLC now owns 4,511 shares of the software maker’s stock valued at $446,000 after buying an additional 123 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Synaptics by 10.5% in the first quarter. PNC Financial Services Group Inc. now owns 1,352 shares of the software maker’s stock valued at $270,000 after buying an additional 128 shares in the last quarter. Finally, Point72 Hong Kong Ltd raised its stake in Synaptics by 12.2% in the first quarter. Point72 Hong Kong Ltd now owns 1,241 shares of the software maker’s stock valued at $248,000 after buying an additional 135 shares in the last quarter. 91.51% of the stock is currently owned by hedge funds and other institutional investors.

Synaptics Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Synaptics (NASDAQ:SYNA)

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