Synaptics (NASDAQ:SYNA) Price Target Cut to $185.00 by Analysts at Susquehanna Bancshares

Synaptics (NASDAQ:SYNAGet Rating) had its price target cut by Susquehanna Bancshares from $200.00 to $185.00 in a research note issued to investors on Friday, Stock Target Advisor reports.

Several other equities research analysts have also recently weighed in on the company. Wells Fargo & Company decreased their target price on Synaptics from $175.00 to $125.00 and set an equal weight rating for the company in a research note on Monday, July 11th. Cowen cut their price target on Synaptics from $310.00 to $210.00 in a research report on Monday, May 2nd. Summit Insights lowered Synaptics from a buy rating to a hold rating in a report on Friday, May 6th. Craig Hallum dropped their target price on Synaptics from $265.00 to $220.00 in a report on Friday, May 6th. Finally, Mizuho dropped their target price on Synaptics from $225.00 to $205.00 and set a buy rating on the stock in a report on Friday. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $221.67.

Synaptics Stock Up 0.5 %

Shares of NASDAQ SYNA opened at $145.75 on Friday. The firm has a market cap of $5.77 billion, a price-to-earnings ratio of 23.03 and a beta of 1.46. The company has a quick ratio of 2.80, a current ratio of 3.17 and a debt-to-equity ratio of 0.85. Synaptics has a 52-week low of $109.26 and a 52-week high of $299.39. The business’s 50 day moving average is $131.12 and its two-hundred day moving average is $168.68.

Synaptics (NASDAQ:SYNAGet Rating) last posted its quarterly earnings results on Thursday, August 4th. The software maker reported $3.87 EPS for the quarter, topping the consensus estimate of $3.13 by $0.74. The business had revenue of $476.40 million during the quarter, compared to the consensus estimate of $472.74 million. Synaptics had a net margin of 14.80% and a return on equity of 40.31%. The company’s quarterly revenue was up 45.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.60 earnings per share. Research analysts predict that Synaptics will post 11.59 EPS for the current year.

Insiders Place Their Bets

In other Synaptics news, Director Kiva A. Allgood sold 196 shares of the business’s stock in a transaction on Monday, May 9th. The stock was sold at an average price of $155.61, for a total transaction of $30,499.56. Following the sale, the director now directly owns 6,654 shares in the company, valued at $1,035,428.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Dean Warren Butler sold 1,126 shares of the company’s stock in a transaction on Monday, May 9th. The stock was sold at an average price of $155.61, for a total value of $175,216.86. Following the sale, the insider now directly owns 26,651 shares in the company, valued at $4,147,162.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kiva A. Allgood sold 196 shares of the company’s stock in a transaction on Monday, May 9th. The shares were sold at an average price of $155.61, for a total value of $30,499.56. Following the completion of the sale, the director now owns 6,654 shares in the company, valued at $1,035,428.94. The disclosure for this sale can be found here. 0.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Synaptics

Several large investors have recently added to or reduced their stakes in SYNA. BlackRock Inc. boosted its position in shares of Synaptics by 10.6% in the first quarter. BlackRock Inc. now owns 5,014,550 shares of the software maker’s stock worth $1,000,402,000 after acquiring an additional 481,832 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Synaptics by 1.7% in the first quarter. Vanguard Group Inc. now owns 3,911,427 shares of the software maker’s stock worth $780,329,000 after acquiring an additional 67,124 shares during the last quarter. State Street Corp lifted its position in Synaptics by 3.5% during the first quarter. State Street Corp now owns 1,393,153 shares of the software maker’s stock valued at $277,934,000 after buying an additional 47,080 shares in the last quarter. Geode Capital Management LLC lifted its position in Synaptics by 11.4% during the fourth quarter. Geode Capital Management LLC now owns 740,819 shares of the software maker’s stock valued at $214,493,000 after buying an additional 75,888 shares in the last quarter. Finally, Neuberger Berman Group LLC lifted its position in Synaptics by 34.6% during the first quarter. Neuberger Berman Group LLC now owns 581,945 shares of the software maker’s stock valued at $116,098,000 after buying an additional 149,514 shares in the last quarter. 91.93% of the stock is currently owned by hedge funds and other institutional investors.

Synaptics Company Profile

(Get Rating)

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

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Analyst Recommendations for Synaptics (NASDAQ:SYNA)

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