Synaptics (NASDAQ:SYNA) Price Target Raised to $135.00

Synaptics (NASDAQ:SYNAGet Free Report) had its price objective upped by investment analysts at TD Cowen from $115.00 to $135.00 in a note issued to investors on Friday, MarketBeat reports. The brokerage currently has an “outperform” rating on the software maker’s stock. TD Cowen’s price target indicates a potential upside of 22.48% from the stock’s previous close.

A number of other research firms have also issued reports on SYNA. Mizuho lowered their target price on shares of Synaptics from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, November 10th. Rosenblatt Securities raised their price target 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 downgraded shares of Synaptics from a “hold” rating to a “sell” rating in a report on Monday, January 29th. Susquehanna raised their price objective on shares of Synaptics from $100.00 to $115.00 and gave the stock a “positive” rating in a report on Friday, November 10th. Finally, JPMorgan Chase & Co. started coverage on shares of Synaptics in a report on Friday, December 8th. They set an “overweight” rating and a $130.00 price target for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Synaptics currently has an average rating of “Moderate Buy” and an average price target of $118.64.

Check Out Our Latest Stock Report on SYNA

Synaptics Stock Up 2.0 %

Synaptics stock opened at $110.22 on Friday. The company has a market capitalization of $4.32 billion, a P/E ratio of -91.09 and a beta of 1.61. The firm’s fifty day simple moving average is $109.05 and its 200-day simple moving average is $97.03. The company has a current ratio of 4.52, a quick ratio of 3.98 and a debt-to-equity ratio of 0.81. Synaptics has a 1-year low of $67.73 and a 1-year high of $129.34.

Synaptics (NASDAQ:SYNAGet Free Report) last posted its earnings results on Thursday, February 8th. The software maker reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $237.00 million for the quarter, compared to analyst estimates of $235.26 million. During the same period last year, the business posted $1.47 EPS. Synaptics’s revenue was down 32.9% compared to the same quarter last year. Sell-side analysts forecast that Synaptics will post -0.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider John Mcfarland sold 884 shares of Synaptics stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $105.83, for a total transaction of $93,553.72. Following the completion of the sale, the insider now owns 15,183 shares in the company, valued at approximately $1,606,816.89. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Synaptics

Several institutional investors have recently modified their holdings of the business. Great Lakes Advisors LLC raised its position in shares of Synaptics by 273.2% in the fourth quarter. Great Lakes Advisors LLC now owns 28,392 shares of the software maker’s stock valued at $3,239,000 after purchasing an additional 20,784 shares during the period. Managed Asset Portfolios LLC grew its stake in shares of Synaptics by 6.2% in the fourth quarter. Managed Asset Portfolios LLC now owns 3,210 shares of the software maker’s stock valued at $366,000 after acquiring an additional 186 shares in the last quarter. Panagora Asset Management Inc. grew its stake in shares of Synaptics by 193.2% in the fourth quarter. Panagora Asset Management Inc. now owns 50,287 shares of the software maker’s stock valued at $5,737,000 after acquiring an additional 33,134 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Synaptics in the fourth quarter valued at about $426,000. Finally, Victory Capital Management Inc. grew its stake in shares of Synaptics by 1,255.2% in the fourth quarter. Victory Capital Management Inc. now owns 394,383 shares of the software maker’s stock valued at $44,991,000 after acquiring an additional 365,282 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

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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