Synaptics Incorporated (NASDAQ:SYNA - Get Free Report) hit a new 52-week low on Thursday . The company traded as low as $66.76 and last traded at $67.40, with a volume of 66469 shares trading hands. The stock had previously closed at $68.03.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on SYNA. Craig Hallum upgraded shares of Synaptics from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 29th. Needham & Company LLC reiterated a "buy" rating and issued a $90.00 price objective on shares of Synaptics in a report on Tuesday, February 4th. Susquehanna boosted their target price on Synaptics from $95.00 to $105.00 and gave the stock a "positive" rating in a report on Wednesday, January 22nd. Rosenblatt Securities restated a "buy" rating and issued a $105.00 target price on shares of Synaptics in a research report on Thursday. Finally, TD Cowen lifted their price target on Synaptics from $90.00 to $100.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $96.88.
View Our Latest Report on SYNA
Synaptics Price Performance
The company has a market cap of $2.47 billion, a price-to-earnings ratio of 14.87 and a beta of 1.45. 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 business has a 50-day moving average price of $77.09 and a 200 day moving average price of $76.25.
Insider Activity
In other Synaptics news, insider Vikram Gupta sold 411 shares of the business'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 sale, the insider now owns 40,795 shares in the company, valued at approximately $3,330,095.85. The trade was a 1.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ken Rizvi bought 3,600 shares of the firm's stock in a transaction on Monday, February 10th. The stock was 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 of the company's stock, valued at approximately $1,910,614.50. This trade represents a 14.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.30% of the stock is currently owned by company insiders.
Institutional Trading of Synaptics
Several large investors have recently added to or reduced their stakes in the company. Toronto Dominion Bank purchased a new position in shares of Synaptics during the fourth quarter valued at $152,895,000. Norges Bank acquired a new stake in Synaptics during the 4th quarter worth about $43,481,000. Groupama Asset Managment purchased a new position in Synaptics during the 4th quarter valued at about $38,160,000. TimesSquare Capital Management LLC increased its holdings in shares of Synaptics by 46.0% in the 4th quarter. TimesSquare Capital Management LLC now owns 526,335 shares of the software maker's stock valued at $40,170,000 after purchasing an additional 165,866 shares during the period. Finally, Deutsche Bank AG lifted its position in shares of Synaptics by 341.9% in the fourth quarter. Deutsche Bank AG now owns 189,398 shares of the software maker's stock worth $14,455,000 after purchasing an additional 146,540 shares in the last quarter. 99.43% of the stock is owned by institutional investors and hedge funds.
About Synaptics
(
Get Free Report)
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.
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