Synaptics (NASDAQ:SYNA) Price Target Raised to $135.00

Synaptics (NASDAQ:SYNAFree 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.

View Our Latest Analysis on Synaptics

Synaptics Stock Performance

Shares of SYNA stock opened at $113.68 on Friday. The company has a quick ratio of 4.04, a current ratio of 4.53 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $4.47 billion, a price-to-earnings ratio of -57.13 and a beta of 1.61. The stock has a fifty day moving average of $109.53 and a 200 day moving average of $97.46. Synaptics has a 52 week low of $67.73 and a 52 week high of $129.34.

Synaptics (NASDAQ:SYNAGet 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.

About Synaptics

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Synaptics (NASDAQ:SYNA)

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