Synaptics (NASDAQ:SYNA) Shares Down 2.7% - Here's Why

Synaptics Incorporated (NASDAQ:SYNA - Get Free Report) shares dropped 2.7% during mid-day trading on Friday . The stock traded as low as $79.94 and last traded at $80.24. Approximately 99,197 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 470,422 shares. The stock had previously closed at $82.48.

Analyst Ratings Changes

Several brokerages have commented on SYNA. Rosenblatt Securities dropped their target price 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. KeyCorp lowered shares of Synaptics from an "overweight" rating to a "sector weight" rating in a report on Tuesday, October 8th. 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. TD Cowen lifted their price target on Synaptics from $90.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Finally, Susquehanna reduced their price objective on Synaptics from $110.00 to $95.00 and set a "positive" rating for the company in a research report on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $97.33.

Synaptics Stock Down 1.8 %

The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of 20.51 and a beta of 1.45. The firm has a 50-day moving average of $76.94 and a 200 day moving average of $78.73. 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 411 shares of the business's stock in a transaction that occurred on 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 owns 40,795 shares of the company's stock, valued at $3,330,095.85. The trade was a 1.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is owned by company insiders.

Institutional Trading of Synaptics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC boosted its stake in Synaptics by 189.7% in the 3rd quarter. Barclays PLC now owns 81,330 shares of the software maker's stock valued at $6,309,000 after purchasing an additional 53,252 shares during the period. Algert Global LLC lifted its holdings in shares of Synaptics by 44.9% during the third quarter. Algert Global LLC now owns 50,797 shares of the software maker's stock worth $3,941,000 after buying an additional 15,750 shares in the last quarter. Point72 Asset Management L.P. grew its stake in shares of Synaptics by 15,571.4% in the second quarter. Point72 Asset Management L.P. now owns 814,912 shares of the software maker's stock valued at $71,875,000 after acquiring an additional 809,712 shares in the last quarter. BNP Paribas Financial Markets increased its position in Synaptics by 111.7% during the third quarter. BNP Paribas Financial Markets now owns 79,777 shares of the software maker's stock worth $6,189,000 after acquiring an additional 42,101 shares during the period. Finally, Emerald Mutual Fund Advisers Trust raised its stake in Synaptics by 88.7% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 160,993 shares of the software maker's stock worth $14,200,000 after purchasing an additional 75,680 shares in the last quarter. Institutional investors 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.