Synaptics (NASDAQ:SYNA) Reaches New 52-Week Low - Time to Sell?

Synaptics Incorporated (NASDAQ:SYNA - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $61.29 and last traded at $61.92, with a volume of 795104 shares trading hands. The stock had previously closed at $62.91.

Analyst Ratings Changes

A number of research firms have recently commented on SYNA. Rosenblatt Securities reiterated a "buy" rating and set a $105.00 target price on shares of Synaptics in a research note on Thursday, February 27th. TD Cowen increased their price objective on Synaptics from $90.00 to $100.00 and gave the company a "buy" rating in a report on Friday, November 8th. Susquehanna boosted their target price on Synaptics from $95.00 to $105.00 and gave the company a "positive" rating in a research note on Wednesday, January 22nd. Craig Hallum upgraded Synaptics from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 29th. Finally, Needham & Company LLC restated a "buy" rating and issued a $90.00 price objective on shares of Synaptics in a research note on Tuesday, February 4th. 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's stock. According to MarketBeat.com, Synaptics presently has a consensus rating of "Moderate Buy" and an average target price of $96.88.

Synaptics Price Performance

The business has a fifty day moving average of $75.89 and a 200-day moving average of $75.88. The company has a current ratio of 3.88, a quick ratio of 3.36 and a debt-to-equity ratio of 0.60. The firm has a market cap of $2.63 billion, a PE ratio of 15.88 and a beta of 1.45.

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Insider Transactions at Synaptics

In other news, insider Ken Rizvi purchased 3,600 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were purchased at an average price of $69.15 per share, with a total value of $248,940.00. Following the completion of the acquisition, the insider now owns 27,630 shares in the company, valued at $1,910,614.50. This trade represents a 14.98 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.30% of the company's stock.

Institutional Investors Weigh In On Synaptics

Several large investors have recently added to or reduced their stakes in the business. Menard Financial Group LLC bought a new stake in shares of Synaptics during the 4th quarter valued at about $37,000. Jefferies Financial Group Inc. raised its stake in Synaptics by 39.1% in the fourth quarter. Jefferies Financial Group Inc. now owns 4,478 shares of the software maker's stock valued at $342,000 after purchasing an additional 1,259 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Synaptics by 20.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 85,787 shares of the software maker's stock valued at $6,547,000 after purchasing an additional 14,531 shares during the last quarter. Squarepoint Ops LLC purchased a new position in Synaptics in the 4th quarter worth approximately $1,268,000. Finally, Twinbeech Capital LP increased its holdings in shares of Synaptics by 183.3% in the 4th quarter. Twinbeech Capital LP now owns 40,759 shares of the software maker's stock worth $3,111,000 after buying an additional 26,373 shares during the last quarter. Institutional investors 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.