Zacks Investment Research Downgrades Synaptics (NASDAQ:SYNA) to Sell

Synaptics (NASDAQ:SYNAGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Synaptics is a leader in designing and marketing human interface solutions such as touchpads for notebook computers, capactive touch screen controllers for handsets and biometric fingerprint sensors for mobile devices. “

SYNA has been the subject of a number of other reports. TheStreet cut Synaptics from a “b” rating to a “c+” rating in a research note on Monday, February 7th. StockNews.com assumed coverage on Synaptics in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Rosenblatt Securities boosted their target price on Synaptics from $290.00 to $345.00 and gave the company a “buy” rating in a research note on Friday, December 31st. KeyCorp reduced their price objective on Synaptics from $310.00 to $250.00 and set an “overweight” rating for the company in a research report on Tuesday, April 12th. Finally, Needham & Company LLC upped their price objective on Synaptics from $320.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, February 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $273.08.

NASDAQ SYNA traded up $2.94 on Tuesday, reaching $162.64. The company had a trading volume of 9,565 shares, compared to its average volume of 532,052. The stock’s 50 day moving average is $207.03 and its 200-day moving average is $226.27. The stock has a market cap of $6.39 billion, a price-to-earnings ratio of 46.07, a PEG ratio of 1.44 and a beta of 1.22. The company has a quick ratio of 2.58, a current ratio of 2.94 and a debt-to-equity ratio of 0.92. Synaptics has a 52 week low of $114.05 and a 52 week high of $299.39.

Synaptics (NASDAQ:SYNAGet Rating) last released its quarterly earnings data on Thursday, February 3rd. The software maker reported $2.54 EPS for the quarter, missing analysts’ consensus estimates of $2.67 by ($0.13). The company had revenue of $420.50 million during the quarter, compared to the consensus estimate of $422.90 million. Synaptics had a net margin of 9.85% and a return on equity of 30.47%. During the same quarter in the prior year, the company posted $1.79 EPS. As a group, analysts forecast that Synaptics will post 10.64 EPS for the current year.

In other Synaptics news, insider Dean Warren Butler sold 1,448 shares of the company’s stock in a transaction that occurred on Monday, February 7th. The stock was sold at an average price of $209.69, for a total value of $303,631.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.80% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the business. Edmonds Duncan Registered Investment Advisors LLC bought a new stake in Synaptics in the first quarter valued at approximately $257,000. Keene & Associates Inc. increased its stake in shares of Synaptics by 18.5% during the first quarter. Keene & Associates Inc. now owns 1,228 shares of the software maker’s stock worth $245,000 after purchasing an additional 192 shares during the period. Diversified Trust Co bought a new position in shares of Synaptics during the first quarter worth approximately $649,000. Norges Bank bought a new position in shares of Synaptics during the fourth quarter worth approximately $73,188,000. Finally, BlackRock Inc. increased its stake in shares of Synaptics by 15.5% during the fourth quarter. BlackRock Inc. now owns 4,532,718 shares of the software maker’s stock worth $1,312,268,000 after purchasing an additional 608,675 shares during the period. Hedge funds and other institutional investors own 92.22% of the company’s stock.

About Synaptics (Get Rating)

Synaptics Incorporated develops and supplies semiconductor products and solutions 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 or over-the-top, streaming devices, soundbars, surveillance cameras, and smart displays; and ImagingSmart solutions.

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