Synaptics (NASDAQ:SYNA) Shares Gap Down – Here’s What Happened

Shares of Synaptics Incorporated (NASDAQ:SYNA) gapped down before the market opened on Thursday . The stock had previously closed at $74.50, but opened at $72.31. Synaptics shares last traded at $74.41, with a volume of 89,274 shares.

Analyst Upgrades and Downgrades

SYNA has been the subject of several analyst reports. Needham & Company LLC lowered their price target on shares of Synaptics from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, November 8th. TD Cowen lifted their price target on shares of Synaptics from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Susquehanna decreased their price objective on Synaptics from $110.00 to $95.00 and set a “positive” rating for the company in a report on Monday, October 21st. Craig Hallum lowered their price target on shares of Synaptics from $105.00 to $80.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Finally, Rosenblatt Securities dropped their price objective on Synaptics from $130.00 to $92.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $97.33.

Synaptics Trading Down 0.8 %

The business has a fifty day moving average price of $73.89 and a 200-day moving average price of $82.07. The company has a market cap of $2.99 billion, a P/E ratio of 18.90 and a beta of 1.47. The company has a quick ratio of 4.02, a current ratio of 4.49 and a debt-to-equity ratio of 0.66.

Insiders Place Their Bets

In other Synaptics news, insider Vikram Gupta sold 1,008 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $80.00, for a total transaction of $80,640.00. Following the transaction, the insider now owns 45,789 shares in the company, valued at $3,663,120. This trade represents a 2.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 5,609 shares of company stock worth $448,720 in the last 90 days. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Synaptics

Institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in shares of Synaptics by 261.8% in the 3rd quarter. GAMMA Investing LLC now owns 369 shares of the software maker’s stock valued at $29,000 after purchasing an additional 267 shares in the last quarter. Quarry LP acquired a new position in Synaptics during the third quarter worth about $31,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Synaptics in the second quarter worth about $67,000. Innealta Capital LLC acquired a new stake in shares of Synaptics in the 2nd quarter valued at approximately $83,000. Finally, CWM LLC grew its holdings in shares of Synaptics by 58.1% during the 3rd quarter. CWM LLC now owns 1,151 shares of the software maker’s stock valued at $89,000 after purchasing an additional 423 shares during the last quarter. Institutional investors own 99.43% of the company’s stock.

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.