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

Synaptics Incorporated (NASDAQ:SYNA - Get Free Report) reached a new 52-week low during trading on Wednesday . The company traded as low as $41.80 and last traded at $42.92, with a volume of 1186016 shares traded. The stock had previously closed at $45.56.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Needham & Company LLC reiterated a "buy" rating and issued a $90.00 price objective on shares of Synaptics in a research report on Tuesday, February 4th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $105.00 target price on shares of Synaptics in a research note on Thursday, February 27th. Craig Hallum raised Synaptics from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 29th. Mizuho reduced their price objective on Synaptics from $90.00 to $80.00 and set an "outperform" rating for the company in a research report on Monday, March 24th. Finally, Susquehanna lifted their target price on Synaptics from $95.00 to $105.00 and gave the company a "positive" rating in a research report on Wednesday, January 22nd. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Synaptics has an average rating of "Moderate Buy" and a consensus target price of $95.00.

Synaptics Stock Up 3.1 %

The firm's 50 day moving average is $63.68 and its two-hundred day moving average is $72.56. The firm has a market capitalization of $1.93 billion, a P/E ratio of 11.65 and a beta of 1.60. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.88 and a quick ratio of 3.36.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Louisiana State Employees Retirement System boosted its holdings in shares of Synaptics by 1.8% in the 4th quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the software maker's stock valued at $847,000 after purchasing an additional 200 shares in the last quarter. State of Michigan Retirement System boosted its stake in Synaptics by 2.1% in the fourth quarter. State of Michigan Retirement System now owns 9,533 shares of the software maker's stock valued at $728,000 after buying an additional 200 shares in the last quarter. Arizona State Retirement System grew its position in Synaptics by 1.8% in the fourth quarter. Arizona State Retirement System now owns 11,573 shares of the software maker's stock valued at $883,000 after acquiring an additional 200 shares during the last quarter. Bridge City Capital LLC lifted its holdings in shares of Synaptics by 0.9% in the fourth quarter. Bridge City Capital LLC now owns 22,511 shares of the software maker's stock worth $1,718,000 after acquiring an additional 201 shares during the last quarter. Finally, Inspire Advisors LLC boosted its stake in shares of Synaptics by 2.7% in the 4th quarter. Inspire Advisors LLC now owns 8,175 shares of the software maker's stock valued at $624,000 after purchasing an additional 212 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.