Synaptics (NASDAQ:SYNA) Shares Gap Down - Time to Sell?

Shares of Synaptics Incorporated (NASDAQ:SYNA - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $74.50, but opened at $72.31. Synaptics shares last traded at $74.41, with a volume of 89,274 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Rosenblatt Securities decreased their price target on shares of Synaptics from $130.00 to $92.00 and set a "buy" rating on the stock in a research note on Friday, November 8th. Needham & Company LLC decreased their price target on shares of Synaptics from $95.00 to $90.00 and set a "buy" rating on the stock in a research note on Friday, November 8th. Susquehanna cut their price objective on shares of Synaptics from $110.00 to $95.00 and set a "positive" rating for the company in a research report on Monday, October 21st. KeyCorp cut shares of Synaptics from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Synaptics from $120.00 to $100.00 and set an "overweight" rating for the company in a research report on Friday, August 9th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $97.33.

Synaptics Price Performance

The stock has a market cap of $3.01 billion, a P/E ratio of 19.05 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. The business's fifty day moving average price is $73.82 and its 200 day moving average price is $82.17.

Insider Transactions at Synaptics

In other news, insider Vikram Gupta sold 1,008 shares of the company's stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $80.00, for a total value of $80,640.00. Following the completion of the transaction, the insider now owns 45,789 shares of the company's stock, valued at $3,663,120. This represents a 2.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 5,609 shares of company stock valued at $448,720. 1.30% of the stock is currently owned by insiders.

Institutional Trading of Synaptics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. PDT Partners LLC acquired a new stake in shares of Synaptics during the 3rd quarter worth approximately $592,000. Verition Fund Management LLC grew its position in shares of Synaptics by 108.3% during the 3rd quarter. Verition Fund Management LLC now owns 5,635 shares of the software maker's stock worth $437,000 after buying an additional 2,930 shares during the period. BNP Paribas Financial Markets grew its position in shares of Synaptics by 111.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 79,777 shares of the software maker's stock worth $6,189,000 after buying an additional 42,101 shares during the period. Algert Global LLC grew its position in shares of Synaptics by 44.9% during the 3rd 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 during the period. Finally, Meridian Wealth Management LLC acquired a new stake in shares of Synaptics during the 3rd quarter worth approximately $266,000. 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.