Synaptics Incorporated (NASDAQ:SYNA) Receives Average Rating of “Buy” from Brokerages

Shares of Synaptics Incorporated (NASDAQ:SYNA) have been given an average recommendation of “Buy” by the eight analysts that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $93.75.

A number of research analysts have commented on the company. Mizuho decreased their price objective on Synaptics from $90.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, March 24th. Needham & Company LLC assumed coverage on Synaptics in a research note on Friday, May 9th. They set a “buy” rating and a $80.00 price objective on the stock.

Synaptics Price Performance

Shares of NASDAQ SYNA opened at $67.26 on Tuesday. The company has a current ratio of 2.88, a quick ratio of 2.34 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 16.29 and a beta of 1.70. Synaptics has a twelve month low of $41.80 and a twelve month high of $93.64. The firm has a 50-day moving average of $64.34 and a two-hundred day moving average of $65.46.

Synaptics (NASDAQ:SYNA) last released its earnings results on Thursday, May 8th. The software maker reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.05. The business had revenue of $266.60 million for the quarter, compared to the consensus estimate of $265.03 million. Synaptics had a net margin of 15.90% and a return on equity of 3.16%. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period last year, the firm posted $0.53 earnings per share. As a group, analysts expect that Synaptics will post 0.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Synaptics

Hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in shares of Synaptics in the fourth quarter worth about $371,000. Swiss National Bank boosted its holdings in Synaptics by 1.4% in the 4th quarter. Swiss National Bank now owns 78,500 shares of the software maker’s stock worth $5,991,000 after buying an additional 1,100 shares during the period. Cibc World Markets Corp purchased a new position in Synaptics in the 4th quarter valued at approximately $283,000. Thrivent Financial for Lutherans grew its stake in Synaptics by 37.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 12,779 shares of the software maker’s stock valued at $975,000 after buying an additional 3,500 shares in the last quarter. Finally, Xponance Inc. raised its holdings in Synaptics by 7.2% during the 4th quarter. Xponance Inc. now owns 5,703 shares of the software maker’s stock valued at $435,000 after acquiring an additional 382 shares during the period. Institutional investors own 99.43% of the company’s stock.

Synaptics Company Profile

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.