Synaptics Incorporated (NASDAQ:SYNA) has been given a $75.00 price target by Cowen and Company in a report issued on Wednesday, August 2nd. The firm currently has a “buy” rating on the software maker’s stock. Cowen and Company’s price objective indicates a potential upside of 83.42% from the stock’s current price.
Several other research firms have also recently weighed in on SYNA. BMO Capital Markets reiterated a “hold” rating and issued a $56.00 target price on shares of Synaptics in a research note on Friday, April 28th. Needham & Company LLC reissued a “buy” rating and issued a $65.00 price target on shares of Synaptics in a research report on Friday, June 9th. Zacks Investment Research raised shares of Synaptics from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a research report on Saturday, April 22nd. BidaskClub raised shares of Synaptics from a “hold” rating to a “buy” rating in a research report on Saturday, June 10th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $70.00 price target on shares of Synaptics in a research report on Monday, June 26th. Seven analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. Synaptics has an average rating of “Hold” and an average target price of $57.43.
Shares of Synaptics (NASDAQ SYNA) traded up 1.56% during mid-day trading on Wednesday, reaching $40.90. The company had a trading volume of 1,527,853 shares. The company has a market capitalization of $1.42 billion, a PE ratio of 29.85 and a beta of 1.13. Synaptics has a 52-week low of $39.89 and a 52-week high of $69.45. The company’s 50-day moving average price is $51.80 and its 200-day moving average price is $53.47.
Synaptics (NASDAQ:SYNA) last released its earnings results on Thursday, August 3rd. The software maker reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.11. Synaptics had a net margin of 2.84% and a return on equity of 16.51%. The business had revenue of $426.50 million during the quarter, compared to analysts’ expectations of $426.49 million. During the same quarter last year, the company earned $0.46 earnings per share. The firm’s revenue was up 31.7% on a year-over-year basis. On average, analysts forecast that Synaptics will post $4.60 earnings per share for the current fiscal year.
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In related news, insider Rick Bergman sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $55.61, for a total value of $556,100.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey D. Buchanan sold 9,375 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $55.92, for a total transaction of $524,250.00. Following the completion of the sale, the director now directly owns 16,166 shares of the company’s stock, valued at approximately $904,002.72. The disclosure for this sale can be found here. Company insiders own 3.60% of the company’s stock.
Several hedge funds have recently modified their holdings of SYNA. TrimTabs Asset Management LLC raised its stake in shares of Synaptics by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 2,073 shares of the software maker’s stock worth $103,000 after buying an additional 976 shares in the last quarter. Harbour Capital Advisors LLC bought a new stake in shares of Synaptics during the first quarter worth $104,000. Edge Wealth Management LLC raised its stake in shares of Synaptics by 1,451.0% in the first quarter. Edge Wealth Management LLC now owns 2,218 shares of the software maker’s stock worth $110,000 after buying an additional 2,075 shares in the last quarter. Riverhead Capital Management LLC raised its stake in shares of Synaptics by 95.0% in the second quarter. Riverhead Capital Management LLC now owns 2,730 shares of the software maker’s stock worth $141,000 after buying an additional 1,330 shares in the last quarter. Finally, LS Investment Advisors LLC raised its stake in shares of Synaptics by 17.9% in the second quarter. LS Investment Advisors LLC now owns 2,775 shares of the software maker’s stock worth $143,000 after buying an additional 421 shares in the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.
Synaptics Incorporated is engaged in the development, marketing and sale of intuitive human interface solutions for electronic devices and products. The Company is a developer and supplier of custom-designed human interface product solutions that enable people to interact with a range of mobile computing, communications, entertainment and other electronic devices.
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