Synaptics (NASDAQ:SYNA – Free Report) had its price target increased by TD Cowen from $115.00 to $135.00 in a report issued on Friday, MarketBeat Ratings reports. The firm currently has an outperform rating on the software maker’s stock.
Other analysts have also recently issued research reports about the stock. Rosenblatt Securities upped their target price on shares of Synaptics from $100.00 to $110.00 and gave the company a buy rating in a research note on Friday, November 10th. StockNews.com cut shares of Synaptics from a hold rating to a sell rating in a research note on Monday, January 29th. Mizuho cut their target price on shares of Synaptics from $115.00 to $110.00 and set a buy rating for the company in a research note on Friday, November 10th. KeyCorp raised their target price on shares of Synaptics from $115.00 to $125.00 and gave the company an overweight rating in a report on Friday, November 10th. Finally, Susquehanna raised their target price on shares of Synaptics from $100.00 to $115.00 and gave the company a positive rating in a report on Friday, November 10th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $125.36.
Synaptics Price Performance
Synaptics (NASDAQ:SYNA – Get Free Report) last posted its earnings results on Thursday, February 8th. The software maker reported $0.57 EPS 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 firm had revenue of $237.00 million for the quarter, compared to analysts’ expectations of $235.26 million. During the same period last year, the firm earned $1.47 EPS. The firm’s revenue was down 32.9% compared to the same quarter last year. Sell-side analysts expect that Synaptics will post -0.49 earnings per share for the current fiscal year.
Insider Activity at Synaptics
In related news, insider John Mcfarland sold 884 shares of the company’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 sale, the insider now directly owns 15,183 shares in the company, valued at approximately $1,606,816.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Synaptics
Large investors have recently modified their holdings of the business. Signaturefd LLC lifted its position in Synaptics by 711.8% during the 3rd quarter. Signaturefd LLC now owns 276 shares of the software maker’s stock worth $25,000 after acquiring an additional 242 shares during the period. Venturi Wealth Management LLC acquired a new position in shares of Synaptics in the third quarter worth about $31,000. Fifth Third Bancorp increased its holdings in Synaptics by 92.4% in the third quarter. Fifth Third Bancorp now owns 433 shares of the software maker’s stock valued at $39,000 after buying an additional 208 shares during the last quarter. Headinvest LLC acquired a new position in shares of Synaptics during the third quarter worth approximately $40,000. Finally, Belpointe Asset Management LLC lifted its position in Synaptics by 112.9% in the first quarter. Belpointe Asset Management LLC now owns 364 shares of the software maker’s stock worth $40,000 after purchasing an additional 193 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.
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.
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