Synaptics (NASDAQ:SYNA) Rating Increased to B- at TheStreet

TheStreet upgraded shares of Synaptics (NASDAQ:SYNAGet Rating) from a c+ rating to a b- rating in a report issued on Thursday, TheStreetRatingsTable reports.

Other equities research analysts have also issued research reports about the stock. Craig Hallum dropped their price objective on shares of Synaptics from $265.00 to $220.00 in a research report on Friday, May 6th. Needham & Company LLC dropped their price objective on shares of Synaptics from $340.00 to $265.00 in a research report on Friday, May 6th. KeyCorp dropped their price objective on shares of Synaptics from $215.00 to $205.00 and set an overweight rating for the company in a research report on Friday. Cowen dropped their price objective on shares of Synaptics from $310.00 to $210.00 in a research report on Monday, May 2nd. Finally, Susquehanna Bancshares lowered their price target on shares of Synaptics from $200.00 to $185.00 in a report on Friday. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Synaptics has a consensus rating of Moderate Buy and a consensus target price of $221.67.

Synaptics Stock Performance

Shares of SYNA stock opened at $145.75 on Thursday. Synaptics has a one year low of $109.26 and a one year high of $299.39. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.80 and a current ratio of 3.17. The company has a 50 day moving average price of $131.12 and a 200 day moving average price of $168.68. The firm has a market capitalization of $5.77 billion, a price-to-earnings ratio of 23.03 and a beta of 1.46.

Synaptics (NASDAQ:SYNAGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The software maker reported $3.87 EPS for the quarter, topping the consensus estimate of $3.13 by $0.74. Synaptics had a net margin of 14.80% and a return on equity of 40.31%. The firm had revenue of $476.40 million during the quarter, compared to analyst estimates of $472.74 million. During the same quarter in the prior year, the business posted $1.60 earnings per share. Synaptics’s revenue for the quarter was up 45.3% compared to the same quarter last year. Sell-side analysts anticipate that Synaptics will post 11.59 EPS for the current year.

Insider Buying and Selling at Synaptics

In other Synaptics news, insider Dean Warren Butler sold 1,126 shares of the stock in a transaction on Monday, May 9th. The shares were sold at an average price of $155.61, for a total transaction of $175,216.86. Following the transaction, the insider now directly owns 26,651 shares in the company, valued at approximately $4,147,162.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Kiva A. Allgood sold 196 shares of the firm’s stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $155.61, for a total value of $30,499.56. Following the transaction, the director now directly owns 6,654 shares in the company, valued at approximately $1,035,428.94. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Dean Warren Butler sold 1,126 shares of the firm’s stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $155.61, for a total transaction of $175,216.86. Following the completion of the transaction, the insider now owns 26,651 shares in the company, valued at $4,147,162.11. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Los Angeles Capital Management LLC lifted its position in shares of Synaptics by 104.5% in the 2nd quarter. Los Angeles Capital Management LLC now owns 33,525 shares of the software maker’s stock worth $3,958,000 after buying an additional 17,135 shares during the last quarter. TimesSquare Capital Management LLC lifted its position in Synaptics by 14.3% in the 2nd quarter. TimesSquare Capital Management LLC now owns 329,345 shares of the software maker’s stock valued at $38,879,000 after purchasing an additional 41,295 shares during the last quarter. Cardinal Capital Management lifted its position in Synaptics by 2.0% in the 2nd quarter. Cardinal Capital Management now owns 14,635 shares of the software maker’s stock valued at $1,728,000 after purchasing an additional 283 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in Synaptics by 31.1% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 20,477 shares of the software maker’s stock valued at $2,417,000 after purchasing an additional 4,857 shares during the last quarter. Finally, Trigran Investments Inc. lifted its position in Synaptics by 7.0% in the 2nd quarter. Trigran Investments Inc. now owns 495,424 shares of the software maker’s stock valued at $58,486,000 after purchasing an additional 32,500 shares during the last quarter. 91.93% of the stock is currently owned by institutional investors.

About Synaptics

(Get Rating)

Synaptics Incorporated develops and supplies semiconductor products and solutions 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 or over-the-top, streaming devices, soundbars, surveillance cameras, and smart displays; and ImagingSmart solutions.

Further Reading

Analyst Recommendations for Synaptics (NASDAQ:SYNA)

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