Synaptics Incorporated (NASDAQ:SYNA) Receives $97.33 Average Target Price from Brokerages

Shares of Synaptics Incorporated (NASDAQ:SYNA) have received a consensus rating of “Moderate Buy” from the nine brokerages that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $97.33.

A number of analysts have recently commented on SYNA shares. 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. Needham & Company LLC dropped their price target on shares of Synaptics from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. KeyCorp downgraded shares of Synaptics from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. TD Cowen lifted their price objective on shares of Synaptics from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, Susquehanna cut their target price on shares of Synaptics from $110.00 to $95.00 and set a “positive” rating for the company in a research note on Monday, October 21st.

Insider Activity

In related news, insider Vikram Gupta sold 411 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $81.63, for a total transaction of $33,549.93. Following the transaction, the insider now directly owns 40,795 shares of the company’s stock, valued at approximately $3,330,095.85. The trade was a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Synaptics

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its position in shares of Synaptics by 18.1% in the second quarter. Bank of New York Mellon Corp now owns 1,259,106 shares of the software maker’s stock worth $111,053,000 after purchasing an additional 193,182 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Synaptics by 3.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 907,347 shares of the software maker’s stock valued at $80,027,000 after buying an additional 31,643 shares during the period. Point72 Asset Management L.P. lifted its position in 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 buying an additional 809,712 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Synaptics by 5.8% during the 3rd quarter. Victory Capital Management Inc. now owns 577,523 shares of the software maker’s stock valued at $44,804,000 after buying an additional 31,565 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Synaptics by 4.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 447,881 shares of the software maker’s stock valued at $34,747,000 after acquiring an additional 17,119 shares in the last quarter. Hedge funds and other institutional investors own 99.43% of the company’s stock.

Synaptics Price Performance

Shares of NASDAQ:SYNA opened at $79.46 on Monday. The stock has a market cap of $3.18 billion, a price-to-earnings ratio of 20.12 and a beta of 1.45. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.49 and a quick ratio of 4.02. Synaptics has a 12 month low of $67.83 and a 12 month high of $121.37. The stock’s 50 day moving average price is $75.49 and its 200 day moving average price is $80.39.

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.