Synaptics Incorporated (NASDAQ:SYNA) Receives Average Rating of "Hold" from Brokerages

Key Points

• Analysts maintain a “Hold” consensus on Synaptics, with nine hold ratings, three buys, one strong buy and one sell among 14 brokerages. The average 12-month price target is $123.91.
• Recent analyst views were mixed: Mizuho raised its target to $170 and assigned an “outperform” rating, while Susquehanna cut its target to $125 and Northland Securities downgraded the stock to “hold.”
• Synaptics exceeded quarterly expectations, reporting $1.23 in EPS and $308 million in revenue, with revenue up 8.9% year over year. Insiders sold $2.47 million of shares over the past 90 days, while institutional investors own 99.43% of the stock.

Shares of Synaptics Incorporated (NASDAQ:SYNA - Get Free Report) have been assigned a consensus rating of "Hold" from the fourteen brokerages that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, nine have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $123.9091.

Several equities research analysts recently issued reports on SYNA shares. Wall Street Zen raised shares of Synaptics from a "hold" rating to a "buy" rating in a research note on Saturday, July 4th. Barclays reissued an "equal weight" rating and set a $135.00 target price (up from $110.00) on shares of Synaptics in a research report on Friday, June 26th. Susquehanna cut their target price on Synaptics from $140.00 to $125.00 and set a "neutral" rating on the stock in a report on Tuesday, July 21st. Northland Securities cut Synaptics from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 26th. Finally, Mizuho upped their price target on Synaptics from $128.00 to $170.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 1st.

Insider Activity

In related news, insider Lisa Bodensteiner sold 6,056 shares of the firm's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $103.62, for a total value of $627,522.72. Following the transaction, the insider directly owned 78,634 shares in the company, valued at approximately $8,148,055.08. This trade represents a 7.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 Esther Song sold 8,833 shares of the firm's stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $141.17, for a total transaction of $1,246,954.61. Following the completion of the transaction, the insider owned 12,421 shares in the company, valued at $1,753,472.57. The trade was a 41.56% 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. Insiders have sold a total of 20,423 shares of company stock valued at $2,467,817 over the last 90 days. 0.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Synaptics

Hedge funds have recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Synaptics by 5.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 90,704 shares of the software maker's stock worth $5,780,000 after purchasing an additional 4,917 shares during the period. M&T Bank Corp acquired a new position in shares of Synaptics during the 2nd quarter worth about $205,000. First Trust Advisors LP boosted its stake in Synaptics by 9.8% during the 2nd quarter. First Trust Advisors LP now owns 60,393 shares of the software maker's stock valued at $3,915,000 after purchasing an additional 5,393 shares during the period. Marshall Wace LLP boosted its stake in Synaptics by 472.1% during the 2nd quarter. Marshall Wace LLP now owns 89,490 shares of the software maker's stock valued at $5,801,000 after purchasing an additional 73,848 shares during the period. Finally, Federated Hermes Inc. grew its holdings in Synaptics by 9.1% in the 2nd quarter. Federated Hermes Inc. now owns 23,352 shares of the software maker's stock valued at $1,514,000 after buying an additional 1,939 shares during the last quarter. 99.43% of the stock is currently owned by institutional investors.

Synaptics Price Performance

Shares of SYNA opened at $94.87 on Wednesday. The firm has a market cap of $3.71 billion, a PE ratio of -7.50 and a beta of 1.99. The firm's 50 day moving average price is $115.67 and its 200 day moving average price is $103.62. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.90 and a current ratio of 1.12. 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, topping the consensus estimate of $1.21 by $0.02. Synaptics had a negative net margin of 41.00% and a positive return on equity of 4.37%. The company had revenue of $308.00 million during the quarter, compared to the consensus estimate of $305.32 million. During the same period in the previous year, the firm posted $1.01 earnings per share. The company's revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, research analysts expect that Synaptics will post 1.98 EPS for the current fiscal year.

About Synaptics

Synaptics Incorporated is a global developer and supplier of human interface solutions for computing, networking, communications, and entertainment devices. The company specializes in the design, development and integration of custom chips and software that enable intuitive, natural user interactions. Synaptics solutions support touch, display, audio and biometrics functions, facilitating seamless human-to-machine interfaces across a broad range of end markets.

Key product offerings include touch controllers for laptops and tablets, capacitive touchscreens and display drivers for mobile devices, fingerprint sensors and secure authentication modules, as well as advanced audio processing and voice enhancement technologies.

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