Synaptics (NASDAQ:SYNA) Price Target Cut to $95.00

Synaptics (NASDAQ:SYNA) had its price objective lowered by Susquehanna from $110.00 to $95.00 in a research report report published on Monday morning, Benzinga reports. Susquehanna currently has a positive rating on the software maker’s stock.

SYNA has been the topic of a number of other reports. Craig Hallum reduced their price target on Synaptics from $105.00 to $80.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. JPMorgan Chase & Co. decreased their price target on Synaptics from $120.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. TD Cowen dropped their price target on Synaptics from $115.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Needham & Company LLC decreased their price objective on shares of Synaptics from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, KeyCorp cut shares of Synaptics from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Synaptics presently has an average rating of “Moderate Buy” and an average target price of $101.00.

Synaptics Trading Up 0.8 %

SYNA opened at $71.80 on Monday. The company has a current ratio of 4.19, a quick ratio of 3.78 and a debt-to-equity ratio of 0.66. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of -26.49 and a beta of 1.46. Synaptics has a 12 month low of $67.83 and a 12 month high of $121.37. The stock has a fifty day moving average price of $75.17 and a 200-day moving average price of $83.61.

Synaptics (NASDAQ:SYNA) last announced its earnings results on Thursday, August 8th. The software maker reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.09. Synaptics had a net margin of 13.09% and a negative return on equity of 0.54%. The business had revenue of $247.40 million during the quarter, compared to the consensus estimate of $245.17 million. During the same period in the previous year, the company posted $0.01 earnings per share. The firm’s revenue was up 8.8% on a year-over-year basis. As a group, equities research analysts anticipate that Synaptics will post 0.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Vikram Gupta sold 1,008 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $80.00, for a total value of $80,640.00. Following the sale, the insider now owns 45,789 shares in the company, valued at $3,663,120. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders have sold 5,609 shares of company stock valued at $448,720. Company insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Synaptics

Several large investors have recently made changes to their positions in SYNA. State of Alaska Department of Revenue raised its position in shares of Synaptics by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 4,547 shares of the software maker’s stock worth $352,000 after acquiring an additional 310 shares during the period. CWC Advisors LLC. purchased a new position in shares of Synaptics in the 3rd quarter valued at about $297,000. Cardinal Capital Management raised its holdings in Synaptics by 20.1% in the 3rd quarter. Cardinal Capital Management now owns 26,705 shares of the software maker’s stock worth $2,072,000 after purchasing an additional 4,465 shares during the period. nVerses Capital LLC boosted its position in Synaptics by 75.0% during the third quarter. nVerses Capital LLC now owns 2,800 shares of the software maker’s stock worth $217,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Creative Planning boosted its position in Synaptics by 113.4% during the third quarter. Creative Planning now owns 8,942 shares of the software maker’s stock worth $694,000 after purchasing an additional 4,752 shares in the last quarter. 99.43% of the stock is currently owned by institutional investors and hedge funds.

About Synaptics

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.