Synaptics' (SYNA) Buy Rating Reaffirmed at Rosenblatt Securities

Synaptics (NASDAQ:SYNA - Get Free Report)'s stock had its "buy" rating reaffirmed by Rosenblatt Securities in a report released on Tuesday,Benzinga reports. They currently have a $92.00 target price on the software maker's stock. Rosenblatt Securities' price target would indicate a potential upside of 29.00% from the stock's current price.

Other research analysts have also issued reports about the stock. Susquehanna upped their target price on shares of Synaptics from $95.00 to $105.00 and gave the company a "positive" rating in a report on Wednesday, January 22nd. Needham & Company LLC reissued a "buy" rating and set a $90.00 price target on shares of Synaptics in a research note on Wednesday, January 29th. Craig Hallum raised Synaptics from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 29th. TD Cowen increased their target price on Synaptics from $90.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Finally, KeyCorp lowered Synaptics from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, October 8th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Synaptics has an average rating of "Moderate Buy" and an average target price of $98.44.

Synaptics Price Performance

Shares of Synaptics stock traded down $3.50 on Tuesday, hitting $71.32. The company's stock had a trading volume of 1,779,768 shares, compared to its average volume of 784,735. The company has a market capitalization of $2.86 billion, a P/E ratio of 18.06 and a beta of 1.45. Synaptics has a 52-week low of $67.83 and a 52-week high of $115.85. The firm has a fifty day moving average price of $79.91 and a 200-day moving average price of $77.37. The company has a quick ratio of 4.02, a current ratio of 4.49 and a debt-to-equity ratio of 0.66.

Insider Activity at Synaptics

In other Synaptics news, insider Vikram Gupta sold 411 shares of the firm's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $81.63, for a total value of $33,549.93. Following the transaction, the insider now directly owns 40,795 shares of the company's stock, valued at $3,330,095.85. This trade represents a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Synaptics

Large investors have recently modified their holdings of the stock. GAMMA Investing LLC boosted its holdings in Synaptics by 261.8% in the 3rd quarter. GAMMA Investing LLC now owns 369 shares of the software maker's stock worth $29,000 after acquiring an additional 267 shares during the period. Quarry LP acquired a new position in shares of Synaptics during the third quarter worth $31,000. CWM LLC lifted its position in shares of Synaptics by 58.1% during the third quarter. CWM LLC now owns 1,151 shares of the software maker's stock worth $89,000 after purchasing an additional 423 shares in the last quarter. Van ECK Associates Corp purchased a new position in shares of Synaptics in the third quarter valued at $132,000. Finally, KBC Group NV grew its holdings in Synaptics by 87.4% during the 4th quarter. KBC Group NV now owns 1,795 shares of the software maker's stock valued at $137,000 after purchasing an additional 837 shares in the last quarter. Institutional investors and hedge funds own 99.43% of the company's stock.

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.