Synaptics (NASDAQ:SYNA – Get Free Report) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.
Several other analysts also recently issued reports on the company. Deutsche Bank Aktiengesellschaft downgraded Synaptics from a “buy” rating to a “hold” rating and set a $125.00 price target on the stock. in a report on Monday, June 29th. Wall Street Zen upgraded Synaptics from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Rosenblatt Securities dropped their target price on Synaptics from $160.00 to $115.00 and set a “neutral” rating on the stock in a research report on Friday, August 7th. TD Cowen cut Synaptics from a “buy” rating to a “hold” rating in a research note on Friday, June 26th. Finally, JPMorgan Chase & Co. raised their target price on Synaptics from $100.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $123.91.
Check Out Our Latest Research Report on SYNA
Synaptics Stock Down 5.2%
Synaptics (NASDAQ:SYNA – Get Free Report) last released its earnings results on Thursday, August 6th. The software maker reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.02. The firm had revenue of $308.00 million during the quarter, compared to analyst estimates of $305.32 million. Synaptics had a negative net margin of 41.00% and a positive return on equity of 4.37%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.01 earnings per share. On average, sell-side analysts forecast that Synaptics will post 1.98 earnings per share for the current fiscal year.
Insider Transactions at Synaptics
In other news, insider Esther Song sold 8,833 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $141.17, for a total value of $1,246,954.61. Following the completion of the transaction, the insider owned 12,421 shares of the company’s stock, valued at approximately $1,753,472.57. This represents a 41.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lisa Bodensteiner sold 334 shares of the firm’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $138.28, for a total value of $46,185.52. Following the transaction, the insider directly owned 61,989 shares in the company, valued at $8,571,838.92. This trade represents a 0.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 10,345 shares of company stock valued at $1,453,745. 0.50% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Synaptics
Several hedge funds and other institutional investors have recently bought and sold shares of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Synaptics by 5.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 90,704 shares of the software maker’s stock valued at $5,780,000 after acquiring an additional 4,917 shares during the last quarter. M&T Bank Corp bought a new stake in shares of Synaptics during the 2nd quarter worth $205,000. First Trust Advisors LP grew its holdings in shares of Synaptics by 9.8% in the 2nd quarter. First Trust Advisors LP now owns 60,393 shares of the software maker’s stock worth $3,915,000 after acquiring an additional 5,393 shares during the last quarter. Marshall Wace LLP raised its position in shares of Synaptics by 472.1% during the second quarter. Marshall Wace LLP now owns 89,490 shares of the software maker’s stock worth $5,801,000 after purchasing an additional 73,848 shares during the period. Finally, Federated Hermes Inc. raised its position in shares of Synaptics by 9.1% during the second quarter. Federated Hermes Inc. now owns 23,352 shares of the software maker’s stock worth $1,514,000 after purchasing an additional 1,939 shares during the period. 99.43% of the stock is currently owned by institutional investors.
Synaptics Company Profile
Synaptics Incorporated is a global developer and supplier of human interface solutions for computing, networking, communications, and entertainment devices. The company specializes in the design, development and integration of custom chips and software that enable intuitive, natural user interactions. Synaptics solutions support touch, display, audio and biometrics functions, facilitating seamless human-to-machine interfaces across a broad range of end markets.
Key product offerings include touch controllers for laptops and tablets, capacitive touchscreens and display drivers for mobile devices, fingerprint sensors and secure authentication modules, as well as advanced audio processing and voice enhancement technologies.
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