Synaptics (NASDAQ:SYNA – Get Free Report) had its target price boosted by Rosenblatt Securities from $115.00 to $123.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the software maker’s stock. Rosenblatt Securities’ target price points to a potential upside of 15.87% from the stock’s current price.
SYNA has been the topic of a number of other research reports. 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 research report on Monday, June 29th. Barclays restated an “equal weight” rating and set a $135.00 price objective (up from $110.00) on shares of Synaptics in a report on Friday, June 26th. Needham & Company LLC downgraded Synaptics from a “buy” rating to a “hold” rating in a report on Friday, June 26th. Wells Fargo & Company set a $123.00 price target on Synaptics in a research report on Friday. Finally, Weiss Ratings downgraded shares of Synaptics from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, three have issued 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, Synaptics has an average rating of “Hold” and a consensus target price of $123.09.
View Our Latest Analysis on Synaptics
Synaptics Price Performance
Synaptics (NASDAQ:SYNA – Get Free Report) last announced its earnings results on Thursday, August 6th. The software maker reported $1.23 EPS for the quarter, topping the consensus estimate of $1.21 by $0.02. The business had revenue of $308.00 million during the quarter, compared to analysts’ expectations 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 was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.01 earnings per share. Analysts anticipate that Synaptics will post 1.98 earnings per share for the current fiscal year.
Insider Buying and Selling at Synaptics
In related news, insider Lisa Bodensteiner sold 334 shares of the company’s stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $92.63, for a total transaction of $30,938.42. Following the transaction, the insider directly owned 77,518 shares of the company’s stock, valued at approximately $7,180,492.34. This represents a 0.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 firm’s stock in a transaction that occurred 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 sale, the insider directly owned 99,191 shares of the company’s stock, valued at $9,372,557.59. This trade represents a 4.13% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 15,951 shares of company stock valued at $1,612,862. Corporate insiders own 0.70% of the company’s stock.
Hedge Funds Weigh In On Synaptics
A number of hedge funds have recently bought and sold shares of the company. Tidal Investments LLC bought a new stake in Synaptics in the 2nd quarter worth about $711,000. Engineers Gate Manager LP lifted its holdings in Synaptics by 65.8% during the second quarter. Engineers Gate Manager LP now owns 24,078 shares of the software maker’s stock worth $2,991,000 after acquiring an additional 9,553 shares during the period. Corient Private Wealth LP bought a new stake in Synaptics during the second quarter worth $239,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Synaptics in the second quarter worth $593,000. Finally, Syon Capital LLC purchased a new position in Synaptics in the second quarter worth $231,000. 99.43% of the stock is owned by hedge funds and other institutional investors.
Synaptics Company Profile
Synaptics Incorporated (NASDAQ: SYNA) is a fabless semiconductor company that develops technologies enabling people to interact with digital devices. Its products combine sensing, processing, connectivity and artificial intelligence capabilities for consumer electronics, automotive systems and Internet of Things applications.
The company’s portfolio includes touch and display controllers, touchpads, fingerprint sensors, audio and voice-processing solutions, wireless connectivity products, and video and vision processors.
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