Synaptics (NASDAQ:SYNA) Shares Gap Down - What's Next?

Synaptics Incorporated (NASDAQ:SYNA - Get Free Report)'s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $85.05, but opened at $82.14. Synaptics shares last traded at $75.32, with a volume of 415,177 shares.

Analyst Ratings Changes

SYNA has been the subject of a number of research analyst reports. TD Cowen boosted their price target on Synaptics from $90.00 to $100.00 and gave the company a "buy" rating in a report on Friday, November 8th. Craig Hallum upgraded shares of Synaptics from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 29th. Susquehanna raised their price target on shares of Synaptics from $95.00 to $105.00 and gave the stock a "positive" rating in a research report on Wednesday, January 22nd. Rosenblatt Securities reaffirmed a "buy" rating and set a $92.00 price objective on shares of Synaptics in a research report on Tuesday. Finally, Needham & Company LLC reiterated a "buy" rating and set a $90.00 price objective on shares of Synaptics in a research note on Tuesday. Three 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.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $98.44.

Synaptics Price Performance

The business has a fifty day moving average of $79.91 and a 200-day moving average of $77.37. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.02 and a current ratio of 4.49. The firm has a market capitalization of $2.86 billion, a P/E ratio of 18.06 and a beta of 1.45.

Insiders Place Their Bets

In other news, insider Vikram Gupta sold 411 shares of the company's stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $81.63, for a total value of $33,549.93. Following the completion of the sale, the insider now owns 40,795 shares in the company, valued at $3,330,095.85. This represents a 1.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in shares of Synaptics by 261.8% during the 3rd quarter. GAMMA Investing LLC now owns 369 shares of the software maker's stock valued at $29,000 after purchasing an additional 267 shares in the last quarter. Quarry LP acquired a new position in Synaptics in the third quarter worth approximately $31,000. CWM LLC increased its holdings in shares of Synaptics by 58.1% in the third quarter. CWM LLC now owns 1,151 shares of the software maker's stock valued at $89,000 after buying an additional 423 shares in the last quarter. Van ECK Associates Corp acquired a new stake in shares of Synaptics during the 3rd quarter valued at $132,000. Finally, KBC Group NV boosted its stake in shares of Synaptics by 87.4% during the 4th quarter. KBC Group NV now owns 1,795 shares of the software maker's stock worth $137,000 after acquiring an additional 837 shares in the last quarter. 99.43% of the stock is owned by institutional investors and hedge funds.

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.