Synaptics (NASDAQ:SYNA) Sets New 12-Month Low - Here's What Happened

Synaptics Incorporated (NASDAQ:SYNA - Get Free Report)'s share price hit a new 52-week low during trading on Tuesday . The stock traded as low as $67.64 and last traded at $67.71, with a volume of 313100 shares traded. The stock had previously closed at $69.45.

Analyst Ratings Changes

SYNA has been the subject of several recent analyst reports. Craig Hallum raised Synaptics from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 29th. Susquehanna raised their target price on Synaptics from $95.00 to $105.00 and gave the stock a "positive" rating in a research report on Wednesday, January 22nd. Rosenblatt Securities reaffirmed a "buy" rating and issued a $92.00 target price on shares of Synaptics in a research report on Tuesday, February 4th. Needham & Company LLC reaffirmed a "buy" rating and issued a $90.00 target price on shares of Synaptics in a research report on Tuesday, February 4th. Finally, TD Cowen raised 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. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Synaptics has a consensus rating of "Moderate Buy" and an average price target of $95.25.

Synaptics Trading Down 1.0 %

The company has a debt-to-equity ratio of 0.66, a current ratio of 4.49 and a quick ratio of 4.02. The company has a fifty day moving average of $78.77 and a 200-day moving average of $76.54. The firm has a market capitalization of $2.89 billion, a PE ratio of 17.04 and a beta of 1.45.

Insider Buying and Selling 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 transaction of $33,549.93. Following the transaction, the insider now directly owns 40,795 shares in the company, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ken Rizvi bought 3,600 shares of the business's stock in a transaction on Monday, February 10th. The shares were bought at an average price of $69.15 per share, for a total transaction of $248,940.00. Following the completion of the acquisition, the insider now 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 disclosure for this purchase can be found here. Corporate insiders own 1.30% of the company's stock.

Hedge Funds Weigh In On Synaptics

A number of institutional investors have recently made changes to their positions in SYNA. Norges Bank bought a new position in shares of Synaptics in the fourth quarter worth about $43,481,000. Groupama Asset Managment bought a new position in shares of Synaptics in the fourth quarter worth about $38,160,000. TimesSquare Capital Management LLC increased its stake in shares of Synaptics by 46.0% in the fourth quarter. TimesSquare Capital Management LLC now owns 526,335 shares of the software maker's stock worth $40,170,000 after purchasing an additional 165,866 shares during the period. Peregrine Capital Management LLC increased its stake in shares of Synaptics by 210.0% in the fourth quarter. Peregrine Capital Management LLC now owns 204,829 shares of the software maker's stock worth $15,633,000 after purchasing an additional 138,748 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of Synaptics by 20.7% in the fourth quarter. Wellington Management Group LLP now owns 556,643 shares of the software maker's stock worth $42,483,000 after purchasing an additional 95,432 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.