Synaptics (NASDAQ:SYNA) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Synaptics (NASDAQ:SYNA) from a hold rating to a buy rating in a research note released on Wednesday morning, Zacks.com reports. They currently have $275.00 target price on the software maker’s stock.

According to Zacks, “Synaptics is a leader in designing and marketing human interface solutions such as touchpads for notebook computers, capactive touch screen controllers for handsets and biometric fingerprint sensors for mobile devices. “

A number of other research firms also recently issued reports on SYNA. Needham & Company LLC raised their price objective on shares of Synaptics from $300.00 to $320.00 and gave the stock a buy rating in a report on Wednesday, December 15th. Summit Insights raised shares of Synaptics from a hold rating to a buy rating in a report on Thursday, November 4th. Cowen raised their price objective on shares of Synaptics from $250.00 to $310.00 and gave the stock an outperform rating in a report on Wednesday, December 8th. Craig Hallum raised their price objective on shares of Synaptics from $175.00 to $265.00 and gave the stock a buy rating in a report on Friday, November 5th. Finally, KeyCorp lifted their price target on shares of Synaptics from $270.00 to $310.00 and gave the company an overweight rating in a report on Tuesday, November 30th. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Buy and an average price target of $277.31.

Shares of SYNA stock opened at $245.57 on Wednesday. The company has a 50 day moving average price of $271.06 and a 200-day moving average price of $207.15. Synaptics has a 52 week low of $96.88 and a 52 week high of $299.39. The firm has a market capitalization of $9.64 billion, a PE ratio of 77.22, a P/E/G ratio of 2.67 and a beta of 1.15. The company has a quick ratio of 2.18, a current ratio of 2.47 and a debt-to-equity ratio of 0.39.

Synaptics (NASDAQ:SYNA) last posted its quarterly earnings data on Thursday, November 4th. The software maker reported $2.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.41. The company had revenue of $372.70 million for the quarter, compared to the consensus estimate of $370.58 million. Synaptics had a net margin of 8.86% and a return on equity of 27.84%. The firm’s revenue was up 13.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.38 earnings per share. Analysts anticipate that Synaptics will post 9.41 earnings per share for the current year.

In related news, insider Michael E. Hurlston sold 5,500 shares of the stock in a transaction dated Wednesday, December 8th. The shares were sold at an average price of $292.85, for a total value of $1,610,675.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP John Mcfarland sold 16,366 shares of the stock in a transaction dated Monday, November 8th. The stock was sold at an average price of $245.78, for a total transaction of $4,022,435.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,044 shares of company stock valued at $14,044,436. 0.80% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP raised its position in Synaptics by 112.9% in the 3rd quarter. Wellington Management Group LLP now owns 2,911,436 shares of the software maker’s stock worth $523,272,000 after purchasing an additional 1,543,913 shares during the period. Dimensional Fund Advisors LP raised its position in Synaptics by 1.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 873,315 shares of the software maker’s stock worth $156,964,000 after purchasing an additional 16,024 shares during the period. Trigran Investments Inc. raised its position in Synaptics by 16.7% in the 3rd quarter. Trigran Investments Inc. now owns 480,469 shares of the software maker’s stock worth $86,354,000 after purchasing an additional 68,590 shares during the period. Bank of New York Mellon Corp raised its position in Synaptics by 16.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 462,117 shares of the software maker’s stock worth $83,056,000 after purchasing an additional 66,453 shares during the period. Finally, Invesco Ltd. raised its position in Synaptics by 91.2% in the 3rd quarter. Invesco Ltd. now owns 327,629 shares of the software maker’s stock worth $58,884,000 after purchasing an additional 156,284 shares during the period. 91.25% of the stock is currently owned by institutional investors.

Synaptics Company Profile

Synaptics, Inc engages in the development, marketing, and sale of human interface semiconductor solutions for electronic devices and products. It specializes in custom-designed human interface that enable people to interact with mobile computing, communications, entertainment, and other electronic devices.

Featured Article: What are the reasons investors use put options?

Get a free copy of the Zacks research report on Synaptics (SYNA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Synaptics (NASDAQ:SYNA)

Receive News & Ratings for Synaptics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synaptics and related companies with MarketBeat.com's FREE daily email newsletter.