Synaptics Incorporated (NASDAQ:SYNA) Receives $93.75 Average PT from Brokerages

Shares of Synaptics Incorporated (NASDAQ:SYNA) have received an average rating of “Buy” from the eight ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $93.75.

A number of equities research analysts have commented on the stock. Mizuho decreased their target price on shares of Synaptics from $90.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, March 24th. Needham & Company LLC started coverage on shares of Synaptics in a research report on Friday, May 9th. They set a “buy” rating and a $80.00 price objective on the stock. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $105.00 price objective on shares of Synaptics in a research report on Thursday, February 27th.

Institutional Investors Weigh In On Synaptics

Institutional investors and hedge funds have recently modified their holdings of the stock. Ameriprise Financial Inc. increased its position in Synaptics by 22.5% in the first quarter. Ameriprise Financial Inc. now owns 6,098,453 shares of the software maker’s stock worth $388,587,000 after purchasing an additional 1,118,559 shares during the last quarter. Vanguard Group Inc. increased its position in Synaptics by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 4,907,880 shares of the software maker’s stock worth $374,569,000 after purchasing an additional 93,155 shares during the last quarter. Toronto Dominion Bank bought a new stake in Synaptics in the fourth quarter worth $152,895,000. FMR LLC increased its position in Synaptics by 0.9% in the fourth quarter. FMR LLC now owns 1,891,227 shares of the software maker’s stock worth $144,338,000 after purchasing an additional 16,337 shares during the last quarter. Finally, Trigran Investments Inc. increased its position in Synaptics by 5.5% in the first quarter. Trigran Investments Inc. now owns 1,130,733 shares of the software maker’s stock worth $72,050,000 after purchasing an additional 58,511 shares during the last quarter. Institutional investors own 99.43% of the company’s stock.

Synaptics Price Performance

NASDAQ SYNA opened at $62.56 on Monday. Synaptics has a 12 month low of $41.80 and a 12 month high of $98.00. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of 14.79 and a beta of 1.68. The company’s 50 day moving average is $56.47 and its two-hundred day moving average is $68.19. 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 (NASDAQ:SYNA) last released its earnings results on Thursday, May 8th. The software maker reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.05. Synaptics had a net margin of 16.73% and a return on equity of 1.61%. The company had revenue of $266.60 million for the quarter, compared to analysts’ expectations of $265.03 million. During the same quarter last year, the business earned $0.53 EPS. The firm’s revenue was up 12.3% compared to the same quarter last year. As a group, research analysts anticipate that Synaptics will post 0.96 earnings per share 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.