Synaptics (NASDAQ:SYNA) Trading 6.7% Higher – Should You Buy?

Synaptics Incorporated (NASDAQ:SYNAGet Free Report) shares were up 6.7% during mid-day trading on Friday . The stock traded as high as $99.38 and last traded at $99.7110. Approximately 171,090 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 871,590 shares. The stock had previously closed at $93.47.

Analyst Ratings Changes

Several research firms have commented on SYNA. Craig Hallum set a $105.00 price target on shares of Synaptics in a research report on Friday, August 7th. Mizuho boosted their price objective on shares of Synaptics from $128.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Zacks Research raised shares of Synaptics from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 17th. Susquehanna lowered their target price on shares of Synaptics from $140.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, July 21st. Finally, Wall Street Zen raised shares of Synaptics from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $123.91.

View Our Latest Stock Report on Synaptics

Synaptics Stock Performance

The company has a debt-to-equity ratio of 0.43, a current ratio of 1.12 and a quick ratio of 0.90. The firm has a market cap of $3.88 billion, a price-to-earnings ratio of -7.87 and a beta of 1.94. The firm has a fifty day simple moving average of $107.60 and a two-hundred day simple moving average of $104.34.

Synaptics (NASDAQ:SYNAGet Free Report) last issued its quarterly earnings results on Thursday, August 6th. The software maker reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.02. The business had revenue of $308.00 million for the quarter, compared to analyst estimates of $305.32 million. Synaptics had a positive return on equity of 4.37% and a negative net margin of 41.00%.The company’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.01 earnings per share. On average, analysts expect that Synaptics Incorporated will post 1.98 EPS for the current year.

Insiders Place Their Bets

In other news, insider Esther Song sold 437 shares of Synaptics stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $103.68, for a total transaction of $45,308.16. Following the completion of the sale, the insider directly owned 14,683 shares in the company, valued at approximately $1,522,333.44. The trade was a 2.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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. Also, insider Vikram Gupta sold 4,277 shares of the company’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $94.49, for a total value of $404,133.73. Following the completion of the transaction, the insider directly owned 99,191 shares in the company, valued at approximately $9,372,557.59. The trade was a 4.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 15,867 shares of company stock valued at $1,624,996. Insiders own 0.50% of the company’s stock.

Institutional Trading of Synaptics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SYNA. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Synaptics by 5.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 90,704 shares of the software maker’s stock worth $5,780,000 after purchasing an additional 4,917 shares during the last quarter. M&T Bank Corp purchased a new stake in Synaptics in the second quarter valued at approximately $205,000. First Trust Advisors LP boosted its position in Synaptics by 9.8% in the second quarter. First Trust Advisors LP now owns 60,393 shares of the software maker’s stock valued at $3,915,000 after buying an additional 5,393 shares during the last quarter. Marshall Wace LLP increased its holdings in Synaptics by 472.1% in the 2nd quarter. Marshall Wace LLP now owns 89,490 shares of the software maker’s stock worth $5,801,000 after buying an additional 73,848 shares during the period. Finally, Federated Hermes Inc. raised its position in Synaptics by 9.1% during the 2nd quarter. Federated Hermes Inc. now owns 23,352 shares of the software maker’s stock worth $1,514,000 after buying an additional 1,939 shares during the last quarter. Institutional investors and hedge funds own 99.43% of the company’s stock.

About Synaptics

(Get Free Report)

Synaptics Incorporated (NASDAQ: SYNA) is a fabless semiconductor company that develops technologies for human-machine interaction, connectivity and edge computing. Its solutions are used in consumer electronics, automotive systems, enterprise equipment and other connected devices.

The company’s products include touchpads, touchscreens, fingerprint sensors, display and video interface technologies, and related human-interface solutions. Synaptics also develops wireless connectivity products, including technologies supporting Wi-Fi, Bluetooth and other connected-device applications, as well as semiconductor platforms designed to enable edge artificial intelligence and the Internet of Things.

Founded in 1986 and headquartered in Santa Clara, California, Synaptics serves customers and original equipment manufacturers globally.

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