Brokerages Set Synaptics, Incorporated (NASDAQ:SYNA) Price Target at $40.00

Synaptics, Incorporated (NASDAQ:SYNA) has been assigned a consensus recommendation of “Hold” from the twelve research firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $35.38.

SYNA has been the topic of several research reports. ValuEngine upgraded Synaptics from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. Dougherty & Co upgraded Synaptics from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Friday. Craig Hallum cut Synaptics from a “buy” rating to a “hold” rating and cut their target price for the company from $39.00 to $28.00 in a research note on Friday. Mizuho restated a “hold” rating and issued a $35.00 target price on shares of Synaptics in a research note on Sunday. Finally, BidaskClub cut Synaptics from a “sell” rating to a “strong sell” rating in a research note on Wednesday.

In other Synaptics news, SVP John Mcfarland sold 2,829 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $33.76, for a total value of $95,507.04. Following the sale, the senior vice president now owns 21,871 shares in the company, valued at approximately $738,364.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.70% of the company’s stock.

Several institutional investors have recently made changes to their positions in SYNA. Norges Bank bought a new stake in shares of Synaptics during the 4th quarter worth approximately $17,801,000. State of New Jersey Common Pension Fund D raised its stake in shares of Synaptics by 190.5% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 610,000 shares of the software maker’s stock worth $24,248,000 after purchasing an additional 400,000 shares in the last quarter. Victory Capital Management Inc. bought a new stake in shares of Synaptics during the 1st quarter worth approximately $9,559,000. First Midwest Bank Trust Division raised its stake in shares of Synaptics by 111.7% during the 2nd quarter. First Midwest Bank Trust Division now owns 274,080 shares of the software maker’s stock worth $7,987,000 after purchasing an additional 144,601 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Synaptics by 8.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,741,214 shares of the software maker’s stock worth $64,791,000 after purchasing an additional 142,207 shares in the last quarter. Institutional investors own 96.41% of the company’s stock.

Shares of NASDAQ:SYNA traded up $0.52 during trading on Thursday, hitting $33.75. 1,464,138 shares of the company’s stock traded hands, compared to its average volume of 649,831. Synaptics has a 52 week low of $26.34 and a 52 week high of $48.74. The company has a current ratio of 3.19, a quick ratio of 2.56 and a debt-to-equity ratio of 0.64. The firm has a market cap of $1.15 billion, a P/E ratio of 13.50 and a beta of 1.02. The firm has a 50-day simple moving average of $30.71.

Synaptics (NASDAQ:SYNA) last released its quarterly earnings data on Thursday, August 8th. The software maker reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.47. Synaptics had a positive return on equity of 12.49% and a negative net margin of 1.56%. The business had revenue of $295.10 million for the quarter, compared to analysts’ expectations of $307.27 million. During the same quarter in the previous year, the business posted $1.00 EPS. Synaptics’s revenue for the quarter was down 24.0% on a year-over-year basis. Equities analysts forecast that Synaptics will post 1.53 EPS for the current year.

About Synaptics

Synaptics Incorporated develops, markets, and sells intuitive human interface solutions for electronic devices and products worldwide. The company offers its products and solutions for smartphones, tablets, and touchscreen applications, as well as mobile, handheld, wireless, and entertainment devices; notebook applications; and other personal computer (PC) product applications.

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Analyst Recommendations for Synaptics (NASDAQ:SYNA)

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