Synaptics (NASDAQ:SYNA – Free Report) had its price objective hoisted by Susquehanna from $130.00 to $135.00 in a research note released on Friday, Benzinga reports. Susquehanna currently has a positive rating on the software maker’s stock.
Several other research firms have also issued reports on SYNA. TD Cowen boosted their target price on Synaptics from $115.00 to $135.00 and gave the stock an outperform rating in a research report on Friday. Craig Hallum lowered Synaptics from a buy rating to a hold rating and set a $105.00 target price for the company. in a research report on Friday. KeyCorp boosted their price objective on Synaptics from $115.00 to $125.00 and gave the company an overweight rating in a research report on Friday, November 10th. Mizuho decreased their price objective on Synaptics from $115.00 to $110.00 and set a buy rating for the company in a research report on Friday, November 10th. Finally, JPMorgan Chase & Co. began coverage on Synaptics in a research report on Friday, December 8th. They issued an overweight rating and a $130.00 price objective for the company. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $125.36.
Synaptics Price Performance
Synaptics (NASDAQ:SYNA – Get Free Report) last posted its earnings results on Thursday, February 8th. The software maker reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.11. The company 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% compared to the same quarter last year. During the same period in the previous year, the company earned $1.47 EPS. As a group, research analysts anticipate that Synaptics will post -0.49 earnings per share for the current year.
Insider Buying and Selling
In other Synaptics news, insider John Mcfarland sold 884 shares of the 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 transaction, the insider now directly owns 15,183 shares in the company, valued at $1,606,816.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Synaptics
Several large investors have recently added to or reduced their stakes in SYNA. Metropolitan Life Insurance Co NY grew its stake in Synaptics by 3.8% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 2,443 shares of the software maker’s stock valued at $232,000 after acquiring an additional 89 shares during the period. US Bancorp DE lifted its holdings in shares of Synaptics by 2.7% in the fourth quarter. US Bancorp DE now owns 3,480 shares of the software maker’s stock valued at $397,000 after purchasing an additional 93 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Synaptics by 2.8% in the third quarter. Commonwealth Equity Services LLC now owns 4,511 shares of the software maker’s stock valued at $446,000 after purchasing an additional 123 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Synaptics by 10.5% in the first quarter. PNC Financial Services Group Inc. now owns 1,352 shares of the software maker’s stock valued at $270,000 after purchasing an additional 128 shares in the last quarter. Finally, Point72 Hong Kong Ltd lifted its holdings in shares of Synaptics by 12.2% in the first quarter. Point72 Hong Kong Ltd now owns 1,241 shares of the software maker’s stock valued at $248,000 after purchasing an additional 135 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.
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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