Synaptics (NASDAQ:SYNA) PT Lowered to $210.00 at Cowen

Synaptics (NASDAQ:SYNA – Get Rating) had its price objective reduced by investment analysts at Cowen from $310.00 to $210.00 in a report released on Monday, Stock Target Advisor reports. Cowen’s target price would suggest a potential upside of 38.00% from the company’s current price.

SYNA has been the subject of a number of other reports. Zacks Investment Research raised Synaptics from a “sell” rating to a “hold” rating in a research report on Thursday. Wells Fargo & Company assumed coverage on Synaptics in a research report on Thursday, April 7th. They set an “equal weight” rating and a $185.00 target price for the company. Mizuho cut their price target on Synaptics from $290.00 to $250.00 and set a “buy” rating on the stock in a report on Monday, April 18th. Needham & Company LLC lifted their price target on Synaptics from $320.00 to $340.00 and gave the company a “buy” rating in a report on Friday, February 4th. Finally, StockNews.com assumed coverage on Synaptics in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $261.43.

Shares of SYNA stock traded up $3.73 on Monday, reaching $152.17. 3,060 shares of the company’s stock were exchanged, compared to its average volume of 540,415. Synaptics has a 52 week low of $114.05 and a 52 week high of $299.39. 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 market capitalization of $5.98 billion, a PE ratio of 43.11 and a beta of 1.22. The company’s fifty day simple moving average is $194.38 and its 200 day simple moving average is $224.79.

Synaptics (NASDAQ:SYNA – Get Rating) last issued its earnings results on Thursday, February 3rd. The software maker reported $2.54 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.67 by ($0.13). The firm had revenue of $420.50 million for 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 period last year, the firm earned $1.79 earnings per share. As a group, sell-side analysts predict that Synaptics will post 10.61 earnings per share for the current fiscal year.

In other Synaptics news, insider Dean Warren Butler sold 1,448 shares of the business’s stock in a transaction dated Monday, February 7th. The stock was sold at an average price of $209.69, for a total transaction of $303,631.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.80% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. Bridgewater Advisors Inc. grew its stake in Synaptics by 0.3% during the 4th quarter. Bridgewater Advisors Inc. now owns 16,718 shares of the software maker’s stock valued at $4,840,000 after purchasing an additional 49 shares during the last quarter. Koshinski Asset Management Inc. lifted its holdings in shares of Synaptics by 23.8% in the 4th quarter. Koshinski Asset Management Inc. now owns 260 shares of the software maker’s stock valued at $75,000 after buying an additional 50 shares during the period. Meritage Portfolio Management lifted its holdings in shares of Synaptics by 5.2% in the 4th quarter. Meritage Portfolio Management now owns 1,193 shares of the software maker’s stock valued at $345,000 after buying an additional 59 shares during the period. Glenmede Trust Co. NA lifted its holdings in shares of Synaptics by 3.8% in the 4th quarter. Glenmede Trust Co. NA now owns 1,653 shares of the software maker’s stock valued at $478,000 after buying an additional 60 shares during the period. Finally, NEXT Financial Group Inc lifted its holdings in shares of Synaptics by 10.9% in the 4th quarter. NEXT Financial Group Inc now owns 630 shares of the software maker’s stock valued at $183,000 after buying an additional 62 shares during the period. Institutional investors and hedge funds own 91.93% of the company’s stock.

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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