Brokerages Set Synaptics Incorporated (NASDAQ:SYNA) Target Price at $105.44

Synaptics Incorporated (NASDAQ:SYNA - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the nine research firms that are presently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $105.44.

A number of analysts have recently commented on the company. Craig Hallum cut 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. Needham & Company LLC cut their target price on Synaptics from $110.00 to $95.00 and set a "buy" rating on the stock in a research note on Friday, August 9th. TD Cowen decreased their price target on shares of Synaptics from $115.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, August 9th. KeyCorp lowered shares of Synaptics from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Synaptics from $120.00 to $100.00 and set an "overweight" rating for the company in a research report on Friday, August 9th.

Synaptics Stock Down 2.3 %

Shares of NASDAQ:SYNA traded down $1.65 during trading on Friday, hitting $71.05. 725,538 shares of the company's stock traded hands, compared to its average volume of 310,665. The company has a current ratio of 4.19, a quick ratio of 3.78 and a debt-to-equity ratio of 0.66. The company has a 50-day moving average price of $75.37 and a 200-day moving average price of $84.08. Synaptics has a 52 week low of $67.83 and a 52 week high of $121.37. The company has a market cap of $2.81 billion, a price-to-earnings ratio of -26.22 and a beta of 1.46.

Synaptics (NASDAQ:SYNA - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The software maker reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.09. Synaptics had a net margin of 13.09% and a negative return on equity of 0.54%. The company had revenue of $247.40 million during the quarter, compared to analysts' expectations of $245.17 million. During the same quarter in the prior year, the company earned $0.01 earnings per share. The business's quarterly revenue was up 8.8% compared to the same quarter last year. As a group, research analysts forecast that Synaptics will post 0.81 EPS for the current fiscal year.

Insider Buying and Selling at Synaptics

In other news, insider Vikram Gupta sold 1,008 shares of the business's stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $80.00, for a total transaction of $80,640.00. Following the transaction, the insider now directly owns 45,789 shares in the company, valued at $3,663,120. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 5,609 shares of company stock worth $448,720 over the last quarter. 1.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SYNA. Heron Bay Capital Management lifted its holdings in Synaptics by 1.3% during the 1st quarter. Heron Bay Capital Management now owns 9,197 shares of the software maker's stock valued at $897,000 after purchasing an additional 116 shares during the last quarter. US Bancorp DE lifted its stake in shares of Synaptics by 3.5% during the 1st quarter. US Bancorp DE now owns 3,603 shares of the software maker's stock worth $352,000 after buying an additional 123 shares during the last quarter. CWM LLC boosted its holdings in shares of Synaptics by 26.0% during the 1st quarter. CWM LLC now owns 673 shares of the software maker's stock worth $66,000 after buying an additional 139 shares during the period. Russell Investments Group Ltd. grew its stake in Synaptics by 0.3% in the 1st quarter. Russell Investments Group Ltd. now owns 48,665 shares of the software maker's stock valued at $4,748,000 after buying an additional 163 shares during the last quarter. Finally, Choreo LLC raised its holdings in Synaptics by 3.9% in the 2nd quarter. Choreo LLC now owns 4,845 shares of the software maker's stock valued at $417,000 after acquiring an additional 180 shares during the period. 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.