Synaptics (NASDAQ:SYNA) Downgraded by Craig Hallum to “Hold”

Synaptics (NASDAQ:SYNAGet Free Report) was downgraded by equities research analysts at Craig Hallum from a “buy” rating to a “hold” rating in a report issued on Friday, MarketBeat reports. They presently have a $105.00 price target on the software maker’s stock. Craig Hallum’s target price suggests a potential downside of 4.74% from the company’s current price.

Several other analysts have also recently commented on the stock. Mizuho reduced their target price on shares of Synaptics from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, November 10th. Rosenblatt Securities upped their target price on shares of Synaptics from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, November 10th. StockNews.com lowered Synaptics from a “hold” rating to a “sell” rating in a research note on Monday, January 29th. Susquehanna lifted their price target on Synaptics from $100.00 to $115.00 and gave the stock a “positive” rating in a research note on Friday, November 10th. Finally, TD Cowen lifted their price target on Synaptics from $115.00 to $135.00 and gave the stock an “outperform” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Synaptics presently has an average rating of “Moderate Buy” and an average price target of $118.64.

Read Our Latest Stock Report on SYNA

Synaptics Stock Up 2.0 %

SYNA stock opened at $110.22 on Friday. Synaptics has a one year low of $67.73 and a one year high of $129.34. The stock has a market capitalization of $4.32 billion, a PE ratio of -91.09 and a beta of 1.61. The company has a debt-to-equity ratio of 0.81, a quick ratio of 3.98 and a current ratio of 4.52. The company has a fifty day moving average of $109.05 and a 200-day moving average of $97.03.

Synaptics (NASDAQ:SYNAGet Free Report) last released its earnings results on Thursday, February 8th. The software maker reported $0.57 EPS for the quarter, topping the consensus estimate of $0.46 by $0.11. Synaptics had a negative net margin of 4.07% and a positive return on equity of 7.24%. The company had revenue of $237.00 million during the quarter, compared to analysts’ expectations of $235.26 million. During the same quarter last year, the business earned $1.47 EPS. The business’s revenue was down 32.9% on a year-over-year basis. As a group, analysts expect that Synaptics will post -0.49 EPS for the current year.

Insiders Place Their Bets

In other Synaptics news, insider John Mcfarland sold 884 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $105.83, for a total value of $93,553.72. Following the transaction, the insider now directly owns 15,183 shares of the company’s stock, valued at approximately $1,606,816.89. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Synaptics

Several institutional investors and hedge funds have recently made changes to their positions in SYNA. Trigran Investments Inc. grew its stake in shares of Synaptics by 67.1% in the second quarter. Trigran Investments Inc. now owns 1,374,752 shares of the software maker’s stock worth $117,376,000 after purchasing an additional 551,959 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Synaptics by 75.4% during the second quarter. Bank of New York Mellon Corp now owns 1,030,462 shares of the software maker’s stock valued at $87,981,000 after buying an additional 443,026 shares in the last quarter. Norges Bank bought a new position in Synaptics during the fourth quarter valued at about $34,790,000. Victory Capital Management Inc. boosted its stake in Synaptics by 1,255.2% during the fourth quarter. Victory Capital Management Inc. now owns 394,383 shares of the software maker’s stock valued at $44,991,000 after buying an additional 365,282 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in Synaptics by 6.9% during the second quarter. BlackRock Inc. now owns 5,323,437 shares of the software maker’s stock valued at $454,515,000 after buying an additional 341,905 shares in the last quarter. 91.51% of the stock is owned by institutional investors and hedge funds.

About Synaptics

(Get Free Report)

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.

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Analyst Recommendations for Synaptics (NASDAQ:SYNA)

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