Synaptics’ (SYNA) Buy Rating Reiterated at Needham & Company LLC

Synaptics (NASDAQ:SYNA)‘s stock had its “buy” rating reissued by Needham & Company LLC in a research note issued on Friday, Benzinga reports. They presently have a $100.00 target price on the software maker’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 16.28% from the company’s current price.

Several other research analysts also recently commented on SYNA. Mizuho reduced their price objective on Synaptics from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, August 4th. Susquehanna cut their target price on shares of Synaptics from $115.00 to $100.00 and set a “positive” rating on the stock in a research report on Friday, August 4th. TD Cowen lifted their target price on Synaptics from $86.00 to $95.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. Rosenblatt Securities restated a “buy” rating and issued a $100.00 price target on shares of Synaptics in a report on Wednesday. Finally, Wells Fargo & Company reduced their price objective on shares of Synaptics from $95.00 to $85.00 and set an “equal weight” rating for the company in a research note on Friday, August 4th. Four 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 an average target price of $112.08.

Synaptics Trading Up 0.6 %

SYNA stock traded up $0.55 during midday trading on Friday, reaching $86.00. The company’s stock had a trading volume of 76,711 shares, compared to its average volume of 535,126. The firm has a market capitalization of $3.36 billion, a price-to-earnings ratio of 47.41 and a beta of 1.55. Synaptics has a 1 year low of $67.73 and a 1 year high of $142.14. The company has a debt-to-equity ratio of 0.78, a quick ratio of 4.36 and a current ratio of 4.89. The stock has a fifty day simple moving average of $88.79 and a two-hundred day simple moving average of $92.86.

Synaptics (NASDAQ:SYNA) last announced its quarterly earnings data on Thursday, August 3rd. The software maker reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.22. The company had revenue of $227.30 million during the quarter, compared to analyst estimates of $224.34 million. Synaptics had a net margin of 5.43% and a return on equity of 17.11%. The firm’s revenue for the quarter was down 52.3% on a year-over-year basis. During the same quarter last year, the business posted $3.21 EPS. On average, equities research analysts predict that Synaptics will post 0.55 EPS for the current year.

Insider Buying and Selling at Synaptics

In other news, insider John Mcfarland sold 946 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $91.70, for a total transaction of $86,748.20. Following the sale, the insider now owns 10,379 shares of the company’s stock, valued at approximately $951,754.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider John Mcfarland sold 946 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $91.70, for a total transaction of $86,748.20. Following the sale, the insider now directly owns 10,379 shares of the company’s stock, valued at approximately $951,754.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Saleel Awsare sold 7,669 shares of Synaptics stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $91.16, for a total value of $699,106.04. Following the completion of the transaction, the insider now owns 26,362 shares of the company’s stock, valued at approximately $2,403,159.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,084 shares of company stock valued at $1,267,017. 0.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SYNA. Y Intercept Hong Kong Ltd raised its position in Synaptics by 67.1% during the first quarter. Y Intercept Hong Kong Ltd now owns 7,533 shares of the software maker’s stock worth $837,000 after acquiring an additional 3,026 shares during the period. Citigroup Inc. lifted its stake in Synaptics by 7.1% in the 1st quarter. Citigroup Inc. now owns 66,243 shares of the software maker’s stock valued at $7,363,000 after buying an additional 4,406 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Synaptics by 6.5% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,508 shares of the software maker’s stock worth $239,000 after buying an additional 153 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its stake in Synaptics by 6.5% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,429 shares of the software maker’s stock worth $381,000 after buying an additional 209 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Synaptics by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 771,803 shares of the software maker’s stock valued at $73,444,000 after acquiring an additional 18,500 shares during the last quarter. Hedge funds and other institutional investors own 91.51% 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.