Synaptics (NASDAQ:SYNA) Given New $90.00 Price Target at Needham & Company LLC

Synaptics (NASDAQ:SYNA) had its price objective decreased by analysts at Needham & Company LLC from $95.00 to $90.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the software maker’s stock. Needham & Company LLC’s target price would indicate a potential upside of 11.22% from the stock’s previous close.

Several other brokerages have also recently issued reports on SYNA. KeyCorp cut shares of Synaptics from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Susquehanna decreased their target price on Synaptics from $110.00 to $95.00 and set a “positive” rating for the company in a research report on Monday, October 21st. 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 note on Friday, August 9th. TD Cowen boosted their target price on shares of Synaptics from $90.00 to $100.00 and gave the company a “buy” rating in a report on Friday. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $130.00 price target on shares of Synaptics in a research note on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Synaptics currently has an average rating of “Moderate Buy” and an average price target of $97.33.

Synaptics Price Performance

Shares of SYNA stock opened at $80.92 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.78 and a current ratio of 4.19. Synaptics has a fifty-two week low of $67.83 and a fifty-two week high of $121.37. The firm has a market cap of $3.23 billion, a P/E ratio of 20.49 and a beta of 1.47. The business’s 50 day moving average price is $73.79 and its 200-day moving average price is $82.45.

Synaptics (NASDAQ:SYNA) last released its quarterly earnings results on Thursday, August 8th. The software maker reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.09. Synaptics had a net margin of 16.14% and a return on equity of 1.34%. The business had revenue of $247.40 million for the quarter, compared to analysts’ expectations of $245.17 million. During the same quarter in the previous year, the business posted $0.01 earnings per share. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, equities research analysts anticipate that Synaptics will post 0.72 earnings per share for the current year.

Insider Activity at Synaptics

In other Synaptics news, insider Vikram Gupta sold 1,008 shares of Synaptics stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $80.00, for a total value of $80,640.00. Following the completion of the transaction, the insider now directly owns 45,789 shares of the company’s stock, valued at approximately $3,663,120. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have sold 5,609 shares of company stock valued at $448,720. 1.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Synaptics

Hedge funds have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. boosted its stake in Synaptics by 15,571.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 814,912 shares of the software maker’s stock valued at $71,875,000 after purchasing an additional 809,712 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Synaptics by 18.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,259,106 shares of the software maker’s stock worth $111,053,000 after buying an additional 193,182 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Synaptics by 39.1% in the 2nd quarter. Victory Capital Management Inc. now owns 545,958 shares of the software maker’s stock worth $48,153,000 after buying an additional 153,434 shares in the last quarter. Westfield Capital Management Co. LP bought a new position in Synaptics during the 1st quarter valued at about $13,065,000. Finally, Emerald Mutual Fund Advisers Trust boosted its holdings in shares of Synaptics by 88.7% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 160,993 shares of the software maker’s stock valued at $14,200,000 after acquiring an additional 75,680 shares during the last quarter. 99.43% of the stock is currently owned by hedge funds and other institutional investors.

Synaptics Company Profile

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.