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

Synaptics Incorporated (NASDAQ:SYNA - Get Free Report) shares gapped up prior to trading on Thursday . The stock had previously closed at $76.32, but opened at $79.88. Synaptics shares last traded at $81.06, with a volume of 144,928 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have commented on SYNA shares. Needham & Company LLC reduced their target price on shares of Synaptics from $95.00 to $90.00 and set a "buy" rating for the company in a report on Friday, November 8th. Rosenblatt Securities cut their price objective on Synaptics from $130.00 to $92.00 and set a "buy" rating for the company in a research report on Friday, November 8th. KeyCorp cut shares of Synaptics from an "overweight" rating to a "sector weight" rating in a research note on Tuesday, October 8th. TD Cowen increased their target price on shares of Synaptics from $90.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Finally, Susquehanna cut their price target on shares of Synaptics from $110.00 to $95.00 and set a "positive" rating on the stock in a research note on Monday, October 21st. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Synaptics presently has an average rating of "Moderate Buy" and an average price target of $97.33.

Synaptics Trading Up 8.1 %

The company has a 50-day moving average price of $76.54 and a 200-day moving average price of $78.79. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of 20.88 and a beta of 1.45. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.02 and a current ratio of 4.49.

Insider Buying and Selling at Synaptics

In other news, insider Vikram Gupta sold 411 shares of Synaptics 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SYNA. Barclays PLC boosted its holdings in shares of Synaptics by 189.7% in the third quarter. Barclays PLC now owns 81,330 shares of the software maker's stock valued at $6,309,000 after acquiring an additional 53,252 shares during the period. XTX Topco Ltd purchased a new position in Synaptics during the 3rd quarter worth $227,000. iSAM Funds UK Ltd acquired a new position in Synaptics in the third quarter valued at $422,000. Quarry LP purchased a new stake in shares of Synaptics in the third quarter valued at about $31,000. Finally, Petrus Trust Company LTA acquired a new stake in shares of Synaptics during the third quarter worth about $844,000. Hedge funds and other institutional investors own 99.43% of the company's stock.

About Synaptics

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.