Cowen Trims Synaptics (NASDAQ:SYNA) Target Price to $210.00

Synaptics (NASDAQ:SYNAGet Rating) had its price target reduced by stock analysts at Cowen from $310.00 to $210.00 in a research note issued to investors on Monday, The Fly reports. Cowen’s target price would indicate a potential upside of 41.47% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. KeyCorp dropped their price target on Synaptics from $310.00 to $250.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 12th. Wells Fargo & Company began coverage on Synaptics in a research report on Thursday, April 7th. They set an “equal weight” rating and a $185.00 price target on the stock. Mizuho dropped their price target on Synaptics from $290.00 to $250.00 and set a “buy” rating on the stock in a research report on Monday, April 18th. StockNews.com began coverage on Synaptics in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Needham & Company LLC upped their price target on Synaptics from $320.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, February 4th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $265.38.

Synaptics stock opened at $148.44 on Monday. The stock has a market cap of $5.83 billion, a P/E ratio of 42.05 and a beta of 1.22. The company has a current ratio of 2.94, a quick ratio of 2.58 and a debt-to-equity ratio of 0.92. The stock has a 50 day moving average of $194.38 and a 200-day moving average of $224.79. Synaptics has a 52 week low of $114.05 and a 52 week high of $299.39.

Synaptics (NASDAQ:SYNAGet Rating) last released its earnings results on Thursday, February 3rd. The software maker reported $2.54 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.67 by ($0.13). The business had revenue of $420.50 million for the quarter, compared to analysts’ expectations of $422.90 million. Synaptics had a net margin of 9.85% and a return on equity of 30.47%. During the same quarter last year, the company posted $1.79 earnings per share. As a group, equities analysts predict that Synaptics will post 10.61 earnings per share for the current fiscal year.

In other news, insider Dean Warren Butler sold 1,448 shares of the firm’s stock in a transaction on Monday, February 7th. The stock was sold at an average price of $209.69, for a total transaction of $303,631.12. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.80% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its position in shares of Synaptics by 112.9% in the 3rd quarter. Wellington Management Group LLP now owns 2,911,436 shares of the software maker’s stock valued at $523,272,000 after purchasing an additional 1,543,913 shares during the period. BlackRock Inc. boosted its position in shares of Synaptics by 15.5% in the 4th quarter. BlackRock Inc. now owns 4,532,718 shares of the software maker’s stock valued at $1,312,268,000 after purchasing an additional 608,675 shares during the period. Norges Bank acquired a new position in shares of Synaptics in the 4th quarter valued at $73,188,000. Invesco Ltd. boosted its position in shares of Synaptics by 91.2% in the 3rd quarter. Invesco Ltd. now owns 327,629 shares of the software maker’s stock valued at $58,884,000 after purchasing an additional 156,284 shares during the period. Finally, Morgan Stanley boosted its position in shares of Synaptics by 99.7% in the 2nd quarter. Morgan Stanley now owns 267,957 shares of the software maker’s stock valued at $41,689,000 after purchasing an additional 133,810 shares during the period. 91.93% of the stock is owned by institutional investors and hedge funds.

Synaptics Company Profile (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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