Brokerages Set Synaptics Incorporated (NASDAQ:SYNA) Price Target at $97.33

Synaptics Incorporated (NASDAQ:SYNA) has earned an average rating of “Moderate Buy” from the nine brokerages that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $97.33.

Several research analysts have commented on SYNA shares. Susquehanna lowered their price objective on shares of Synaptics from $110.00 to $95.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Needham & Company LLC dropped their price objective on Synaptics from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, November 8th. KeyCorp lowered Synaptics from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Rosenblatt Securities dropped their target price on shares of Synaptics from $130.00 to $92.00 and set a “buy” rating for the company in a report on Friday, November 8th. Finally, TD Cowen lifted their price target on shares of Synaptics from $90.00 to $100.00 and gave the company a “buy” rating in a report on Friday, November 8th.

Synaptics Trading Up 1.9 %

SYNA opened at $82.79 on Monday. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of 20.96 and a beta of 1.45. The company has a quick ratio of 4.02, a current ratio of 4.49 and a debt-to-equity ratio of 0.66. Synaptics has a twelve month low of $67.83 and a twelve month high of $121.37. The company has a 50-day simple moving average of $75.36 and a 200 day simple moving average of $80.47.

Insiders Place Their Bets

In related news, insider Vikram Gupta sold 2,731 shares of Synaptics stock in a transaction on Friday, September 27th. The shares were sold at an average price of $80.00, for a total value of $218,480.00. Following the completion of the sale, the insider now owns 43,245 shares of the company’s stock, valued at approximately $3,459,600. This trade represents a 5.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Synaptics

Several large investors have recently added to or reduced their stakes in SYNA. Barclays PLC lifted its stake in Synaptics by 189.7% during the 3rd quarter. Barclays PLC now owns 81,330 shares of the software maker’s stock valued at $6,309,000 after acquiring an additional 53,252 shares in the last quarter. XTX Topco Ltd bought a new stake in Synaptics in the 3rd quarter worth about $227,000. iSAM Funds UK Ltd bought a new position in shares of Synaptics during the 3rd quarter worth approximately $422,000. Quarry LP purchased a new position in shares of Synaptics in the 3rd quarter worth approximately $31,000. Finally, Petrus Trust Company LTA purchased a new stake in shares of Synaptics during the third quarter valued at approximately $844,000. Institutional investors own 99.43% of the company’s stock.

About Synaptics

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.