Synaptics (NASDAQ:SYNA) Sees Strong Trading Volume - Still a Buy?

Synaptics Incorporated (NASDAQ:SYNA - Get Free Report) shares saw strong trading volume on Friday . 1,245,263 shares were traded during mid-day trading, an increase of 293% from the previous session's volume of 316,907 shares.The stock last traded at $75.30 and had previously closed at $75.24.

Analyst Ratings Changes

SYNA has been the subject of a number of research reports. Needham & Company LLC lowered their target price on Synaptics from $95.00 to $90.00 and set a "buy" rating for the company in a report on Friday, November 8th. KeyCorp cut Synaptics from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. decreased their price target on shares of Synaptics from $120.00 to $100.00 and set an "overweight" rating for the company in a research note on Friday, August 9th. Rosenblatt Securities lowered their price objective on shares of Synaptics from $130.00 to $92.00 and set a "buy" rating on the stock in a report on Friday, November 8th. Finally, Craig Hallum reduced their target price on shares of Synaptics from $105.00 to $80.00 and set a "hold" rating for the company in a report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $97.33.

Synaptics Price Performance

The company's 50-day simple moving average is $73.89 and its 200-day simple moving average is $82.07. The stock has a market capitalization of $2.99 billion, a P/E ratio of 18.90 and a beta of 1.47. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.49 and a quick ratio of 4.02.

Insider Activity at Synaptics

In other Synaptics news, insider Vikram Gupta sold 1,870 shares of the company's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $80.00, for a total value of $149,600.00. Following the transaction, the insider now directly owns 46,797 shares in the company, valued at $3,743,760. The trade was a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders sold 5,609 shares of company stock worth $448,720. Insiders own 1.30% of the company's stock.

Institutional Trading of Synaptics

A number of hedge funds have recently modified their holdings of SYNA. GAMMA Investing LLC lifted its holdings in Synaptics by 261.8% during the 3rd quarter. GAMMA Investing LLC now owns 369 shares of the software maker's stock worth $29,000 after purchasing an additional 267 shares during the last quarter. Quarry LP bought a new stake in shares of Synaptics in the third quarter valued at about $31,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Synaptics in the second quarter valued at about $67,000. Innealta Capital LLC bought a new position in Synaptics during the second quarter worth about $83,000. Finally, CWM LLC raised its stake in Synaptics by 58.1% in the 3rd 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. Institutional investors and hedge funds 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.