Synaptics Incorporated (NASDAQ:SYNA) Receives Average Rating of “Buy” from Brokerages

Shares of Synaptics Incorporated (NASDAQ:SYNA) have been assigned a consensus rating of “Buy” from the eight research firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $93.75.

Several brokerages recently commented on SYNA. Susquehanna boosted their price target on Synaptics from $95.00 to $105.00 and gave the company a “positive” rating in a research note on Wednesday, January 22nd. Needham & Company LLC began coverage on Synaptics in a research note on Friday, May 9th. They issued a “buy” rating and a $80.00 price target on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $105.00 price target on shares of Synaptics in a research note on Thursday, February 27th. Craig Hallum raised Synaptics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 29th. Finally, Mizuho dropped their target price on Synaptics from $90.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, March 24th.

Institutional Investors Weigh In On Synaptics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Synaptics by 544.1% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,087 shares of the software maker’s stock valued at $388,000 after purchasing an additional 5,142 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Synaptics by 22.5% in the first quarter. Ameriprise Financial Inc. now owns 6,098,453 shares of the software maker’s stock valued at $388,587,000 after purchasing an additional 1,118,559 shares during the last quarter. Bragg Financial Advisors Inc increased its holdings in Synaptics by 36.2% in the first quarter. Bragg Financial Advisors Inc now owns 197,109 shares of the software maker’s stock valued at $12,560,000 after purchasing an additional 52,423 shares during the last quarter. Stoneridge Investment Partners LLC bought a new stake in Synaptics in the first quarter valued at about $217,000. Finally, EntryPoint Capital LLC bought a new stake in Synaptics in the first quarter valued at about $588,000. Institutional investors own 99.43% of the company’s stock.

Synaptics Stock Performance

SYNA opened at $66.11 on Thursday. The stock has a market cap of $2.59 billion, a PE ratio of 15.63 and a beta of 1.67. The company has a current ratio of 3.88, a quick ratio of 3.36 and a debt-to-equity ratio of 0.60. Synaptics has a 1 year low of $41.80 and a 1 year high of $98.00. The stock’s 50 day simple moving average is $57.34 and its 200-day simple moving average is $69.70.

Synaptics (NASDAQ:SYNA) last announced its quarterly earnings results on Thursday, May 8th. The software maker reported $0.90 EPS for the quarter, beating the consensus estimate of $0.85 by $0.05. The business had revenue of $266.60 million for the quarter, compared to analyst estimates of $265.03 million. Synaptics had a return on equity of 1.61% and a net margin of 16.73%. Synaptics’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.53 EPS. Sell-side analysts forecast that Synaptics will post 0.96 EPS for the current year.

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.