Barclays Begins Coverage on Synaptics (NASDAQ:SYNA)

Equities researchers at Barclays began coverage on shares of Synaptics (NASDAQ:SYNA) in a research report issued on Monday, MarketBeat Ratings reports. The brokerage set an “overweight” rating and a $78.00 price target on the software maker’s stock. Barclays‘s target price would indicate a potential upside of 14.27% from the stock’s current price.

Several other equities analysts have also weighed in on SYNA. Needham & Company LLC assumed coverage on shares of Synaptics in a report on Friday, May 9th. They set a “buy” rating and a $80.00 price objective on the stock. Wall Street Zen raised shares of Synaptics from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $91.33.

Synaptics Stock Performance

NASDAQ SYNA opened at $68.26 on Monday. The firm’s fifty day moving average price is $65.65 and its two-hundred day moving average price is $63.09. The stock has a market cap of $2.63 billion, a PE ratio of -56.41 and a beta of 1.61. Synaptics has a fifty-two week low of $41.80 and a fifty-two week high of $89.81. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.26 and a current ratio of 2.78.

Synaptics (NASDAQ:SYNA) last issued its quarterly earnings data on Thursday, August 7th. The software maker reported $1.01 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.01. Synaptics had a negative net margin of 4.45% and a positive return on equity of 4.32%. The company had revenue of $282.80 million for the quarter, compared to analysts’ expectations of $280.12 million. During the same quarter in the previous year, the firm posted $0.64 earnings per share. Synaptics’s revenue for the quarter was up 14.3% on a year-over-year basis. Synaptics has set its Q1 2026 guidance at 1.490-1.690 EPS. On average, equities analysts expect that Synaptics will post 0.96 EPS for the current fiscal year.

Synaptics announced that its board has initiated a stock buyback program on Thursday, August 7th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the software maker to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Synaptics

A number of hedge funds have recently made changes to their positions in the stock. Ameriprise Financial Inc. grew its stake in shares of Synaptics by 22.5% during the first quarter. Ameriprise Financial Inc. now owns 6,098,453 shares of the software maker’s stock valued at $388,587,000 after buying an additional 1,118,559 shares during the last quarter. State Street Corp grew its stake in shares of Synaptics by 0.5% during the second quarter. State Street Corp now owns 2,039,202 shares of the software maker’s stock valued at $132,181,000 after buying an additional 9,335 shares during the last quarter. Toronto Dominion Bank bought a new position in shares of Synaptics during the fourth quarter valued at about $152,895,000. Trigran Investments Inc. grew its stake in shares of Synaptics by 5.5% during the first quarter. Trigran Investments Inc. now owns 1,130,733 shares of the software maker’s stock valued at $72,050,000 after buying an additional 58,511 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Synaptics by 8.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,008,390 shares of the software maker’s stock valued at $76,960,000 after buying an additional 74,433 shares during the last quarter. 99.43% of the stock is owned by institutional investors.

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.