Mizuho Cuts Synaptics (NASDAQ:SYNA) Price Target to $80.00

Synaptics (NASDAQ:SYNA - Get Free Report) had its price objective reduced by equities research analysts at Mizuho from $90.00 to $80.00 in a report issued on Monday,Benzinga reports. The firm currently has an "outperform" rating on the software maker's stock. Mizuho's target price would indicate a potential upside of 27.67% from the company's previous close.

A number of other research firms have also commented on SYNA. Rosenblatt Securities restated a "buy" rating and set a $105.00 price target on shares of Synaptics in a research report on Thursday, February 27th. Craig Hallum upgraded Synaptics from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 29th. Needham & Company LLC reaffirmed a "buy" rating and issued a $90.00 price target on shares of Synaptics in a report on Tuesday, February 4th. Finally, Susquehanna increased their price objective on shares of Synaptics from $95.00 to $105.00 and gave the stock a "positive" rating in a report on Wednesday, January 22nd. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Synaptics has an average rating of "Moderate Buy" and a consensus target price of $95.00.

Synaptics Price Performance

NASDAQ:SYNA traded down $1.62 on Monday, reaching $62.66. The stock had a trading volume of 147,334 shares, compared to its average volume of 423,117. The company has a quick ratio of 3.36, a current ratio of 3.88 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $2.46 billion, a P/E ratio of 14.79 and a beta of 1.55. Synaptics has a 1-year low of $60.75 and a 1-year high of $99.99. The stock has a fifty day moving average price of $71.66 and a 200-day moving average price of $74.49.

Remove Ads

Insider Buying and Selling

In other Synaptics news, insider Ken Rizvi acquired 3,600 shares of the company's stock in a transaction on Monday, February 10th. The shares were purchased at an average price of $69.15 per share, for a total transaction of $248,940.00. Following the completion of the purchase, the insider now directly owns 27,630 shares of the company's stock, valued at approximately $1,910,614.50. This represents a 14.98 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Synaptics

Large investors have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Synaptics by 232.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,406 shares of the software maker's stock valued at $652,000 after buying an additional 5,880 shares during the period. Intech Investment Management LLC lifted its position in shares of Synaptics by 27.0% during the 3rd quarter. Intech Investment Management LLC now owns 27,689 shares of the software maker's stock valued at $2,148,000 after acquiring an additional 5,883 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Synaptics by 4.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 447,881 shares of the software maker's stock worth $34,747,000 after purchasing an additional 17,119 shares in the last quarter. Meridian Wealth Management LLC bought a new position in shares of Synaptics in the third quarter worth $266,000. Finally, Algert Global LLC lifted its position in Synaptics by 44.9% during the third quarter. Algert Global LLC now owns 50,797 shares of the software maker's stock worth $3,941,000 after purchasing an additional 15,750 shares during the period. Institutional investors own 99.43% of the company's stock.

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.