Synaptics (NASDAQ:SYNA) Rating Increased to Hold at Zacks Investment Research

Synaptics (NASDAQ:SYNAGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday, 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. “

Other research analysts have also recently issued reports about the company. StockNews.com began coverage on Synaptics in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Mizuho reduced their price objective on Synaptics from $250.00 to $225.00 in a research note on Friday. Cowen reduced their price objective on Synaptics from $310.00 to $210.00 in a research note on Monday. Summit Insights downgraded Synaptics from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Needham & Company LLC lifted their price objective on Synaptics from $320.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, February 4th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Synaptics presently has a consensus rating of “Buy” and a consensus target price of $259.64.

NASDAQ SYNA opened at $160.96 on Friday. The stock’s 50 day moving average is $189.94 and its 200 day moving average is $223.75. The company has a current ratio of 2.94, a quick ratio of 2.58 and a debt-to-equity ratio of 0.92. Synaptics has a 12 month low of $114.05 and a 12 month high of $299.39. The stock has a market cap of $6.32 billion, a PE ratio of 45.60 and a beta of 1.34.

Synaptics (NASDAQ:SYNAGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The software maker reported $3.75 EPS for the quarter, topping analysts’ consensus estimates of $3.55 by $0.20. Synaptics had a return on equity of 30.47% and a net margin of 9.85%. The company had revenue of $470.10 million for the quarter, compared to analysts’ expectations of $464.65 million. During the same period in the previous year, the firm earned $1.39 EPS. The firm’s revenue was up 44.3% compared to the same quarter last year. On average, analysts forecast that Synaptics will post 10.61 EPS for the current fiscal year.

In related news, insider Dean Warren Butler sold 1,448 shares of the business’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.80% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Crestline Management LP purchased a new position in Synaptics during the 3rd quarter valued at $2,721,000. Braun Stacey Associates Inc. purchased a new stake in shares of Synaptics in the 3rd quarter worth $21,357,000. Virtue Capital Management LLC purchased a new stake in shares of Synaptics in the 4th quarter worth $1,273,000. State of Michigan Retirement System lifted its holdings in shares of Synaptics by 12.5% in the 4th quarter. State of Michigan Retirement System now owns 9,935 shares of the software maker’s stock worth $2,876,000 after buying an additional 1,100 shares during the period. Finally, Syquant Capital Sas purchased a new stake in shares of Synaptics in the 4th quarter worth $72,000. Institutional investors 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.

Further Reading

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Analyst Recommendations for Synaptics (NASDAQ:SYNA)

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