Synaptics (NASDAQ:SYNA) Shares Gap Up - Here's Why

Synaptics Incorporated (NASDAQ:SYNA - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $74.82, but opened at $78.56. Synaptics shares last traded at $69.87, with a volume of 322,045 shares.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Needham & Company LLC restated a "buy" rating and set a $90.00 target price on shares of Synaptics in a research note on Tuesday, February 4th. Craig Hallum upgraded shares of Synaptics from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 29th. TD Cowen raised 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. Rosenblatt Securities restated a "buy" rating and set a $92.00 target price on shares of Synaptics in a research note on Tuesday, February 4th. Finally, 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. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $95.25.

Synaptics Trading Down 1.8 %

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 stock has a market capitalization of $2.73 billion, a P/E ratio of 16.13 and a beta of 1.45. The firm's fifty day simple moving average is $79.49 and its 200 day simple moving average is $76.92.

Insider Activity

In related news, insider Vikram Gupta sold 411 shares of Synaptics stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $81.63, for a total transaction of $33,549.93. Following the sale, the insider now directly owns 40,795 shares in the company, valued at $3,330,095.85. This trade represents a 1.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Synaptics

Several hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in 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 bought a new stake in Synaptics during the 3rd quarter valued at $31,000. CWM LLC increased its stake in Synaptics by 58.1% during the 3rd quarter. CWM LLC now owns 1,151 shares of the software maker's stock valued at $89,000 after purchasing an additional 423 shares in the last quarter. Van ECK Associates Corp bought a new stake in Synaptics during the 3rd quarter valued at $132,000. Finally, KBC Group NV increased its stake in Synaptics by 87.4% during the 4th quarter. KBC Group NV now owns 1,795 shares of the software maker's stock valued at $137,000 after purchasing an additional 837 shares in the last quarter. 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.