Synaptics (NASDAQ:SYNA – Free Report) had its price target increased by KeyCorp from $125.00 to $135.00 in a report published on Friday, Benzinga reports. KeyCorp currently has an overweight rating on the software maker’s stock.
Several other equities analysts have also commented on the company. Needham & Company LLC raised their price objective on Synaptics from $115.00 to $125.00 and gave the company a buy rating in a research report on Friday. Rosenblatt Securities raised their price target on Synaptics from $110.00 to $130.00 and gave the company a buy rating in a report on Friday. Susquehanna raised their price target on Synaptics from $130.00 to $135.00 and gave the company a positive rating in a report on Friday. JPMorgan Chase & Co. started coverage on Synaptics in a report on Friday, December 8th. They set an overweight rating and a $130.00 price target for the company. Finally, StockNews.com downgraded Synaptics from a hold rating to a sell rating in a report on Monday, January 29th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Synaptics presently has an average rating of Moderate Buy and an average target price of $125.36.
Synaptics Stock Performance
Synaptics (NASDAQ:SYNA – Get Free Report) last announced its quarterly earnings data on Thursday, February 8th. The software maker reported $0.57 EPS for the quarter, beating the consensus estimate of $0.46 by $0.11. The business had revenue of $237.00 million during the quarter, compared to analyst estimates of $235.26 million. Synaptics had a positive return on equity of 3.01% and a negative net margin of 7.54%. The company’s revenue for the quarter was down 32.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.47 earnings per share. As a group, research analysts expect that Synaptics will post -0.49 earnings per share for the current year.
Insider Buying and Selling
In related news, insider John Mcfarland sold 884 shares of Synaptics stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $105.83, for a total value of $93,553.72. Following the completion of the sale, the insider now directly owns 15,183 shares in the company, valued at approximately $1,606,816.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Synaptics
A number of large investors have recently made changes to their positions in SYNA. Trigran Investments Inc. grew its stake in shares of Synaptics by 67.1% during the 2nd quarter. Trigran Investments Inc. now owns 1,374,752 shares of the software maker’s stock valued at $117,376,000 after purchasing an additional 551,959 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Synaptics by 75.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,030,462 shares of the software maker’s stock valued at $87,981,000 after purchasing an additional 443,026 shares during the period. Norges Bank bought a new stake in shares of Synaptics during the 4th quarter valued at about $34,790,000. Victory Capital Management Inc. grew its stake in shares of Synaptics by 1,255.2% during the 4th quarter. Victory Capital Management Inc. now owns 394,383 shares of the software maker’s stock valued at $44,991,000 after purchasing an additional 365,282 shares during the period. Finally, BlackRock Inc. grew its stake in shares of Synaptics by 6.9% during the 2nd quarter. BlackRock Inc. now owns 5,323,437 shares of the software maker’s stock valued at $454,515,000 after purchasing an additional 341,905 shares during the period. 91.51% of the stock is currently owned by institutional investors.
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.
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