Synaptics Incorporated (NASDAQ:SYNA) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Synaptics Incorporated (NASDAQ:SYNA) have received an average recommendation of “Moderate Buy” from the nine research firms that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $97.33.

SYNA has been the subject of several recent research reports. Susquehanna cut 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. Needham & Company LLC cut their target price on Synaptics from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, November 8th. TD Cowen raised their target price on Synaptics from $90.00 to $100.00 and gave the company a “buy” rating in a report on Friday, November 8th. Craig Hallum cut their target price on Synaptics from $105.00 to $80.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Finally, Rosenblatt Securities cut their target price on Synaptics from $130.00 to $92.00 and set a “buy” rating on the stock in a report on Friday, November 8th.

Synaptics Stock Performance

Shares of Synaptics stock opened at $73.85 on Thursday. The company has a quick ratio of 4.02, a current ratio of 4.49 and a debt-to-equity ratio of 0.66. Synaptics has a 12 month low of $67.83 and a 12 month high of $121.37. The business has a fifty day simple moving average of $73.94 and a 200-day simple moving average of $81.86. The stock has a market cap of $2.96 billion, a PE ratio of 18.70 and a beta of 1.47.

Insider Buying and Selling at Synaptics

In other Synaptics news, insider Vikram Gupta sold 2,731 shares of Synaptics stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $80.00, for a total transaction of $218,480.00. Following the sale, the insider now directly owns 43,245 shares of the company’s stock, valued at approximately $3,459,600. The trade was a 5.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have sold 5,609 shares of company stock valued at $448,720. 1.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp boosted its holdings in shares of 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 acquiring an additional 193,182 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Synaptics by 3.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 907,347 shares of the software maker’s stock worth $80,027,000 after acquiring an additional 31,643 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of Synaptics by 15,571.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 814,912 shares of the software maker’s stock worth $71,875,000 after acquiring an additional 809,712 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Synaptics by 5.8% in the 3rd quarter. Victory Capital Management Inc. now owns 577,523 shares of the software maker’s stock worth $44,804,000 after acquiring an additional 31,565 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Synaptics by 4.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 447,881 shares of the software maker’s stock worth $34,747,000 after acquiring an additional 17,119 shares in the last quarter. 99.43% of the stock is 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.