Analysts’ Recent Ratings Updates for Synaptics (SYNA)

Synaptics (NASDAQ: SYNA) recently received a number of ratings updates from brokerages and research firms:

• 8/9/2024 – Synaptics had its price target lowered by analysts at JPMorgan Chase & Co. from $120.00 to $100.00. They now have an “overweight” rating on the stock.
• 8/9/2024 – Synaptics had its price target lowered by analysts at KeyCorp from $115.00 to $100.00. They now have an “overweight” rating on the stock.
• 8/9/2024 – Synaptics had its price target lowered by analysts at Craig Hallum from $105.00 to $80.00. They now have a “hold” rating on the stock.
• 8/9/2024 – Synaptics had its price target lowered by analysts at TD Cowen from $115.00 to $90.00. They now have a “buy” rating on the stock.
• 8/9/2024 – Synaptics had its price target lowered by analysts at Needham & Company LLC from $110.00 to $95.00. They now have a “buy” rating on the stock.

Synaptics Price Performance

Shares of NASDAQ:SYNA opened at $80.76 on Wednesday. The firm has a 50 day moving average of $83.95 and a 200-day moving average of $91.45. Synaptics Incorporated has a 12 month low of $67.83 and a 12 month high of $121.37. The company has a current ratio of 4.19, a quick ratio of 3.78 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $3.19 billion, a PE ratio of -29.80 and a beta of 1.47.

Synaptics (NASDAQ:SYNA) last announced its quarterly earnings data on Thursday, August 8th. The software maker reported $0.64 EPS for the quarter, beating the consensus estimate of $0.55 by $0.09. The business had revenue of $247.40 million during the quarter, compared to the consensus estimate of $245.17 million. Synaptics had a net margin of 13.09% and a negative return on equity of 0.54%. The company’s revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.01 earnings per share. On average, equities research analysts predict that Synaptics Incorporated will post 0.72 EPS for the current fiscal year.

Insider Buying and Selling

In other Synaptics news, insider Vikram Gupta sold 1,870 shares of Synaptics stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $80.00, for a total value of $149,600.00. Following the transaction, the insider now owns 46,797 shares in the company, valued at $3,743,760. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 2,644 shares of company stock worth $219,586 in the last ninety days. 1.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Synaptics

A number of hedge funds have recently made changes to their positions in SYNA. Quantbot Technologies LP acquired a new stake in Synaptics in the first quarter valued at approximately $586,000. UBS Group AG lifted its stake in shares of Synaptics by 26.8% in the 4th quarter. UBS Group AG now owns 105,457 shares of the software maker’s stock valued at $12,031,000 after acquiring an additional 22,308 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in shares of Synaptics by 27.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 28,815 shares of the software maker’s stock valued at $2,807,000 after acquiring an additional 6,276 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Synaptics by 34.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 390,251 shares of the software maker’s stock valued at $44,520,000 after acquiring an additional 100,150 shares in the last quarter. Finally, Willner & Heller LLC bought a new stake in Synaptics during the 4th quarter worth $807,000. 99.43% of the stock is currently owned by institutional investors and hedge funds.

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