Synaptics Incorporated (NASDAQ:SYNA) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Synaptics Incorporated (NASDAQ:SYNA) have been assigned an average recommendation of “Buy” from the eight analysts that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $93.75.

A number of brokerages have recently issued reports on SYNA. Rosenblatt Securities reiterated a “buy” rating and set a $105.00 target price on shares of Synaptics in a research note on Thursday, February 27th. Mizuho lowered their target price on Synaptics from $90.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, March 24th. Finally, Needham & Company LLC started coverage on Synaptics in a report on Friday, May 9th. They issued a “buy” rating and a $80.00 target price on the stock.

Institutional Investors Weigh In On Synaptics

Several institutional investors have recently modified their holdings of the company. Barclays PLC grew its stake in Synaptics by 189.7% in the 3rd quarter. Barclays PLC now owns 81,330 shares of the software maker’s stock valued at $6,309,000 after acquiring an additional 53,252 shares during the last quarter. KBC Group NV grew its position in shares of Synaptics by 87.4% in the fourth quarter. KBC Group NV now owns 1,795 shares of the software maker’s stock valued at $137,000 after purchasing an additional 837 shares during the last quarter. Retirement Systems of Alabama grew its position in shares of Synaptics by 1.2% in the fourth quarter. Retirement Systems of Alabama now owns 61,208 shares of the software maker’s stock valued at $4,671,000 after purchasing an additional 727 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Synaptics by 1.8% during the 4th quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the software maker’s stock worth $847,000 after purchasing an additional 200 shares in the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Synaptics by 211.4% during the 4th quarter. Van ECK Associates Corp now owns 5,754 shares of the software maker’s stock worth $439,000 after purchasing an additional 3,906 shares during the last quarter. Hedge funds and other institutional investors own 99.43% of the company’s stock.

Synaptics Stock Down 1.7%

SYNA stock opened at $58.60 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.36 and a current ratio of 3.88. Synaptics has a fifty-two week low of $41.80 and a fifty-two week high of $98.00. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 13.85 and a beta of 1.67. The company’s 50 day moving average price is $56.68 and its 200 day moving average price is $68.62.

Synaptics (NASDAQ:SYNA) last released its quarterly earnings data on Thursday, May 8th. The software maker reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.05. Synaptics had a return on equity of 1.61% and a net margin of 16.73%. The business had revenue of $266.60 million during the quarter, compared to analysts’ expectations of $265.03 million. During the same period in the prior year, the firm posted $0.53 EPS. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. On average, equities research analysts anticipate that Synaptics will post 0.96 EPS for the current fiscal year.

About Synaptics

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.