Synaptics Incorporated (NASDAQ:SYNA) Stock Has Consensus Price Target of $123.09

Key Points

• Analysts maintain a “Hold” consensus on Synaptics, with 11 hold, two buy, and one sell rating. The average 12-month price target is $123.09, modestly above the reported share price of $117.36.
• Recent analyst actions were mixed: Zacks Research and Needham downgraded the stock to “Hold,” while Mizuho raised its target to $170 and Barclays increased its target to $135.
• Synaptics exceeded its latest quarterly expectations, reporting $1.23 in earnings per share versus a $1.21 estimate and $308 million in revenue, up 8.9% year over year. Institutional investors own 99.43% of the company, while insiders sold 15,951 shares worth about $1.61 million over the past 90 days.

Synaptics Incorporated (NASDAQ:SYNA - Get Free Report) has been given a consensus rating of "Hold" by the fourteen analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $123.09.

A number of equities analysts have recently issued reports on SYNA shares. Zacks Research lowered shares of Synaptics from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 9th. Needham & Company LLC lowered shares of Synaptics from a "buy" rating to a "hold" rating in a report on Friday, June 26th. Barclays restated an "equal weight" rating and issued a $135.00 price objective (up from $110.00) on shares of Synaptics in a research report on Friday, June 26th. Mizuho boosted their price objective on shares of Synaptics from $128.00 to $170.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 1st. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating and set a $123.00 price objective (down from $140.00) on shares of Synaptics in a report on Friday, October 2nd.

Insider Activity

In other news, insider Esther Song sold 437 shares of the business'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 completion of the sale, the insider owned 14,683 shares in the company, valued at $1,522,333.44. The trade was a 2.89% decrease in their ownership of the stock. The transaction was disclosed in a legal 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 Lisa Bodensteiner sold 334 shares of the business's stock in a transaction on Friday, September 18th. The stock was sold at an average price of $92.63, for a total value of $30,938.42. Following the sale, the insider owned 77,518 shares of the company's stock, valued at approximately $7,180,492.34. The trade was a 0.43% decrease in their position. The SEC filing for this sale provides additional information. 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. In the last ninety days, insiders sold 15,951 shares of company stock valued at $1,612,862. Company insiders own 0.70% of the company's stock.

Institutional Trading of Synaptics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CoreCap Advisors LLC bought a new position in shares of Synaptics in the 2nd quarter worth $25,000. Allworth Financial LP acquired a new stake in shares of Synaptics during the second quarter worth $33,000. Global Retirement Partners LLC acquired a new stake in shares of Synaptics during the second quarter worth $61,000. State of Wyoming bought a new stake in Synaptics in the second quarter valued at about $65,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Synaptics in the second quarter valued at about $73,000. 99.43% of the stock is owned by institutional investors.

Synaptics Price Performance

Shares of Synaptics stock opened at $117.36 on Thursday. The company has a current ratio of 1.12, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $4.66 billion, a price-to-earnings ratio of -9.28 and a beta of 1.96. Synaptics has a 1-year low of $58.28 and a 1-year high of $149.11. The firm's 50-day moving average price is $102.83 and its two-hundred day moving average price is $109.38.

Synaptics (NASDAQ:SYNA - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The software maker reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.02. The company had revenue of $308.00 million during the quarter, compared to analyst estimates of $305.32 million. Synaptics had a negative net margin of 41.00% and a positive return on equity of 4.37%. The company's revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the business posted $1.01 earnings per share. On average, equities analysts predict that Synaptics will post 1.98 earnings per share for the current fiscal year.

About Synaptics

Synaptics Incorporated NASDAQ: SYNA is a fabless semiconductor company that develops technologies enabling people to interact with digital devices. Its products combine sensing, processing, connectivity and artificial intelligence capabilities for consumer electronics, automotive systems and Internet of Things applications.

The company's portfolio includes touch and display controllers, touchpads, fingerprint sensors, audio and voice-processing solutions, wireless connectivity products, and video and vision processors.

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