Synaptics (NASDAQ:SYNA) Shares Down 10.3%

Synaptics Incorporated (NASDAQ:SYNA - Get Free Report) shares were down 10.3% during mid-day trading on Tuesday . The company traded as low as $73.05 and last traded at $73.05. Approximately 179,098 shares traded hands during trading, a decline of 40% from the average daily volume of 300,735 shares. The stock had previously closed at $81.42.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SYNA shares. TD Cowen lowered their price objective on Synaptics from $115.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, August 9th. Wells Fargo & Company lowered their price objective on Synaptics from $115.00 to $95.00 and set an "equal weight" rating for the company in a research report on Friday, May 10th. KeyCorp lowered their target price on Synaptics from $115.00 to $100.00 and set an "overweight" rating for the company in a report on Friday, August 9th. Craig Hallum lowered their target price on Synaptics from $105.00 to $80.00 and set a "hold" rating for the company in a report on Friday, August 9th. Finally, Needham & Company LLC lowered their target price on Synaptics from $110.00 to $95.00 and set a "buy" rating for the company in a report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $105.44.

Synaptics Stock Down 10.6 %

The company has a quick ratio of 3.78, a current ratio of 4.19 and a debt-to-equity ratio of 0.66. The stock has a 50 day simple moving average of $83.00 and a 200 day simple moving average of $90.37. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of -26.87 and a beta of 1.47.

Synaptics (NASDAQ:SYNA - Get Free Report) last announced its earnings results on Thursday, August 8th. The software maker reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.09. The company had revenue of $247.40 million for the quarter, compared to analysts' expectations of $245.17 million. Synaptics had a negative return on equity of 0.54% and a net margin of 13.09%. Synaptics's quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.01 earnings per share. As a group, analysts expect that Synaptics Incorporated will post 0.72 earnings per share for the current fiscal year.

Insider Activity at Synaptics

In related news, insider Vikram Gupta sold 1,008 shares of Synaptics stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $80.00, for a total transaction of $80,640.00. Following the sale, the insider now directly owns 45,789 shares in the company, valued at $3,663,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 3,652 shares of company stock valued at $300,226 over the last 90 days. Insiders own 1.20% of the company's stock.

Institutional Trading of Synaptics

Hedge funds have recently bought and sold shares of the business. Quantbot Technologies LP bought a new stake in Synaptics during the first quarter worth $586,000. UBS Group AG raised its stake in shares of Synaptics by 26.8% in the fourth quarter. UBS Group AG now owns 105,457 shares of the software maker's stock valued at $12,031,000 after buying an additional 22,308 shares during the period. CANADA LIFE ASSURANCE Co raised its stake in shares of Synaptics by 27.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 28,815 shares of the software maker's stock valued at $2,807,000 after buying an additional 6,276 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Synaptics by 34.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 390,251 shares of the software maker's stock valued at $44,520,000 after buying an additional 100,150 shares during the period. Finally, Willner & Heller LLC bought a new stake in shares of Synaptics in the fourth quarter valued at $807,000. 99.43% of the stock is currently owned by institutional investors.

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.