Synaptics Incorporated (NASDAQ:SYNA) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Synaptics has a consensus “Hold” rating from 14 brokerages, with nine holds, three buys, one strong buy and one sell. The average 12-month price target is $123.91, above the reported share price of $93.11.
• The company’s latest quarterly results modestly exceeded expectations, with adjusted EPS of $1.23 versus a $1.21 estimate and revenue of $308 million versus $305.32 million expected. Revenue increased 8.9% year over year, although Synaptics reported a negative net margin.
• Institutional investors own 99.43% of Synaptics, while insiders own 0.50%; insiders sold 15,804 shares worth approximately $1.6 million over the past 90 days, primarily through pre-arranged Rule 10b5-1 plans.

Synaptics Incorporated (NASDAQ:SYNA - Get Free Report) has been given a consensus rating of "Hold" by the fourteen ratings firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $123.9091.

Several research analysts have weighed in on the company. Wall Street Zen upgraded Synaptics from a "hold" rating to a "buy" rating in a research report on Saturday, July 4th. Rosenblatt Securities decreased their price target on shares of Synaptics from $160.00 to $115.00 and set a "neutral" rating on the stock in a research note on Friday, August 7th. TD Cowen lowered shares of Synaptics from a "buy" rating to a "hold" rating in a research report on Friday, June 26th. Needham & Company LLC downgraded shares of Synaptics from a "buy" rating to a "hold" rating in a report on Friday, June 26th. Finally, Zacks Research upgraded shares of Synaptics from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 17th.

Insider Activity at Synaptics

In other Synaptics news, insider Esther Song sold 437 shares of the firm's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $103.68, for a total transaction of $45,308.16. Following the transaction, the insider owned 14,683 shares in the company, valued at $1,522,333.44. This trade represents a 2.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Vikram Gupta sold 4,277 shares of Synaptics stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $94.49, for a total value of $404,133.73. Following the completion of the transaction, the insider directly owned 99,191 shares of the company's stock, valued at $9,372,557.59. This represents a 4.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 15,804 shares of company stock worth $1,598,162. Company insiders own 0.50% of the company's stock.

Institutional Investors Weigh In On Synaptics

Several institutional investors and hedge funds have recently bought and sold shares of SYNA. Tidal Investments LLC acquired a new position in shares of Synaptics in the 2nd quarter valued at approximately $711,000. Engineers Gate Manager LP boosted its position in shares of Synaptics by 65.8% during the 2nd quarter. Engineers Gate Manager LP now owns 24,078 shares of the software maker's stock worth $2,991,000 after acquiring an additional 9,553 shares in the last quarter. Corient Private Wealth LP bought a new position in Synaptics in the second quarter valued at approximately $239,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Synaptics during the second quarter valued at approximately $593,000. Finally, Syon Capital LLC acquired a new position in Synaptics during the second quarter valued at approximately $231,000. Institutional investors own 99.43% of the company's stock.

Synaptics Stock Up 2.2%

Synaptics stock opened at $93.11 on Friday. The company's 50-day moving average price is $104.08 and its two-hundred day moving average price is $104.73. The company has a quick ratio of 0.90, a current ratio of 1.12 and a debt-to-equity ratio of 0.43. The stock has a market cap of $3.70 billion, a P/E ratio of -7.36 and a beta of 1.94. Synaptics has a twelve month low of $58.28 and a twelve month high of $149.11.

Synaptics (NASDAQ:SYNA - Get Free Report) last posted its earnings results on Thursday, August 6th. The software maker reported $1.23 EPS for the quarter, beating the consensus estimate of $1.21 by $0.02. The company had revenue of $308.00 million for the quarter, compared to the consensus estimate of $305.32 million. Synaptics had a positive return on equity of 4.37% and a negative net margin of 41.00%.The firm's revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.01 earnings per share. As a group, analysts expect that Synaptics will post 1.98 EPS for the current year.

Synaptics Company Profile

Synaptics Incorporated NASDAQ: SYNA is a fabless semiconductor company that develops technologies for human-machine interaction, connectivity and edge computing. Its solutions are used in consumer electronics, automotive systems, enterprise equipment and other connected devices.

The company's products include touchpads, touchscreens, fingerprint sensors, display and video interface technologies, and related human-interface solutions. Synaptics also develops wireless connectivity products, including technologies supporting Wi-Fi, Bluetooth and other connected-device applications, as well as semiconductor platforms designed to enable edge artificial intelligence and the Internet of Things.

Founded in 1986 and headquartered in Santa Clara, California, Synaptics serves customers and original equipment manufacturers globally.

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