Synaptics (NASDAQ:SYNA) Given New $90.00 Price Target at Needham & Company LLC

Synaptics (NASDAQ:SYNA - Get Free Report) had its price objective decreased by analysts at Needham & Company LLC from $95.00 to $90.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the software maker's stock. Needham & Company LLC's target price indicates a potential upside of 11.22% from the stock's current price.

Several other research analysts have also commented on SYNA. KeyCorp lowered Synaptics from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, October 8th. TD Cowen increased their price target on Synaptics from $90.00 to $100.00 and gave the company a "buy" rating in a research note on Friday. Rosenblatt Securities reaffirmed a "buy" rating and issued a $130.00 price objective on shares of Synaptics in a research report on Thursday, October 31st. JPMorgan Chase & Co. dropped their target price on shares of Synaptics from $120.00 to $100.00 and set an "overweight" rating on the stock in a research report on Friday, August 9th. Finally, Susquehanna dropped their price objective on shares of Synaptics from $110.00 to $95.00 and set a "positive" rating on the stock in a report on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $97.33.

Synaptics Trading Up 8.4 %

Shares of SYNA traded up $6.28 during mid-day trading on Friday, reaching $80.92. 893,079 shares of the company's stock traded hands, compared to its average volume of 310,200. Synaptics has a 12 month low of $67.83 and a 12 month high of $121.37. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.19 and a quick ratio of 3.78. The stock has a market cap of $3.23 billion, a P/E ratio of 20.49 and a beta of 1.47. The stock's 50-day moving average is $73.79 and its two-hundred day moving average is $82.45.

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

Insider Buying and Selling

In other Synaptics news, insider Vikram Gupta sold 1,008 shares of the business's stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $80.00, for a total value of $80,640.00. Following the sale, the insider now owns 45,789 shares of the company's stock, valued at $3,663,120. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders sold 5,609 shares of company stock worth $448,720. Company insiders own 1.30% of the company's stock.

Institutional Trading of Synaptics

A number of hedge funds and other institutional investors have recently bought and sold shares of SYNA. Quantbot Technologies LP acquired a new position in Synaptics in the first quarter valued at $586,000. CANADA LIFE ASSURANCE Co increased its holdings in Synaptics by 27.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 28,815 shares of the software maker's stock valued at $2,807,000 after acquiring an additional 6,276 shares in the last quarter. Point72 Asset Management L.P. increased its stake in shares of Synaptics by 15,571.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 814,912 shares of the software maker's stock worth $71,875,000 after purchasing an additional 809,712 shares in the last quarter. Emerald Mutual Fund Advisers Trust boosted its stake in shares of Synaptics by 88.7% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 160,993 shares of the software maker's stock valued at $14,200,000 after acquiring an additional 75,680 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in shares of Synaptics in the second quarter valued at approximately $941,000. 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.