Synaptics Incorporated (NASDAQ:SYNA) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Synaptics Incorporated (NASDAQ:SYNAGet Rating) have been assigned a consensus recommendation of “Hold” from the fifteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $241.25.

Several research firms recently commented on SYNA. StockNews.com began coverage on shares of Synaptics in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Summit Insights cut shares of Synaptics from a “buy” rating to a “hold” rating in a report on Friday, May 6th. Craig Hallum dropped their target price on shares of Synaptics from $265.00 to $220.00 in a report on Friday, May 6th. Mizuho dropped their target price on shares of Synaptics from $250.00 to $225.00 in a report on Friday, May 6th. Finally, KeyCorp dropped their price objective on shares of Synaptics from $310.00 to $250.00 and set an “overweight” rating for the company in a report on Tuesday, April 12th.

In other news, Director Kiva A. Allgood sold 196 shares of the business’s stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $155.61, for a total transaction of $30,499.56. Following the completion of the transaction, the director now owns 6,654 shares of the company’s stock, valued at $1,035,428.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dean Warren Butler sold 1,126 shares of the company’s stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $155.61, for a total value of $175,216.86. Following the completion of the sale, the insider now directly owns 26,651 shares of the company’s stock, valued at approximately $4,147,162.11. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the business. Braun Stacey Associates Inc. bought a new stake in Synaptics in the third quarter valued at approximately $21,357,000. Virtue Capital Management LLC bought a new position in shares of Synaptics during the fourth quarter valued at $1,273,000. Edmonds Duncan Registered Investment Advisors LLC purchased a new position in shares of Synaptics in the 1st quarter worth about $257,000. State of Michigan Retirement System raised its position 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 purchasing an additional 1,100 shares during the last quarter. Finally, Donoghue Forlines LLC purchased a new position in Synaptics in the 4th quarter worth about $646,000. Hedge funds and other institutional investors own 91.93% of the company’s stock.

NASDAQ SYNA opened at $120.75 on Thursday. The company has a current ratio of 3.17, a quick ratio of 2.80 and a debt-to-equity ratio of 0.85. The firm’s fifty day moving average price is $144.15 and its two-hundred day moving average price is $200.03. Synaptics has a 1 year low of $113.97 and a 1 year high of $299.39. The firm has a market capitalization of $4.78 billion, a P/E ratio of 25.31 and a beta of 1.34.

Synaptics (NASDAQ:SYNAGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The software maker reported $2.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.07). Synaptics had a return on equity of 34.97% and a net margin of 12.17%. The firm had revenue of $470.10 million for the quarter, compared to the consensus estimate of $464.65 million. During the same period last year, the company posted $1.39 earnings per share. The business’s revenue was up 44.3% compared to the same quarter last year. On average, research analysts anticipate that Synaptics will post 11.22 EPS for the current fiscal year.

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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Analyst Recommendations for Synaptics (NASDAQ:SYNA)

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