Brokerages Set Synaptics Incorporated (NASDAQ:SYNA) PT at $118.40

Synaptics Incorporated (NASDAQ:SYNA - Get Free Report) has earned an average rating of "Moderate Buy" from the nine ratings firms that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $118.40.

SYNA has been the topic of a number of recent research reports. Needham & Company LLC raised their price objective on Synaptics from $115.00 to $125.00 and gave the company a "buy" rating in a research report on Friday, February 9th. Susquehanna lifted their price target on Synaptics from $130.00 to $135.00 and gave the company a "positive" rating in a research report on Friday, February 9th. TD Cowen boosted their price objective on Synaptics from $115.00 to $135.00 and gave the company an "outperform" rating in a research report on Friday, February 9th. KeyCorp boosted their price objective on Synaptics from $125.00 to $135.00 and gave the company an "overweight" rating in a research report on Friday, February 9th. Finally, StockNews.com upgraded Synaptics from a "sell" rating to a "hold" rating in a research report on Monday, February 12th.

Insider Transactions at Synaptics

In other news, insider Vikram Gupta sold 3,616 shares of Synaptics stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $105.75, for a total value of $382,392.00. Following the sale, the insider now directly owns 31,847 shares of the company's stock, valued at $3,367,820.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.20% of the company's stock.

Hedge Funds Weigh In On Synaptics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Synaptics by 1.6% during the third quarter. Vanguard Group Inc. now owns 4,692,436 shares of the software maker's stock worth $419,691,000 after buying an additional 72,044 shares during the last quarter. Ameriprise Financial Inc. raised its position in Synaptics by 2.9% in the third quarter. Ameriprise Financial Inc. now owns 4,131,256 shares of the software maker's stock valued at $369,500,000 after purchasing an additional 116,276 shares during the period. Wellington Management Group LLP raised its position in Synaptics by 3.4% in the fourth quarter. Wellington Management Group LLP now owns 1,373,759 shares of the software maker's stock valued at $156,718,000 after purchasing an additional 44,548 shares during the period. FMR LLC raised its position in Synaptics by 39.3% in the third quarter. FMR LLC now owns 1,124,544 shares of the software maker's stock valued at $100,579,000 after purchasing an additional 317,307 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Synaptics by 9.1% in the third quarter. Bank of New York Mellon Corp now owns 1,124,477 shares of the software maker's stock valued at $100,573,000 after purchasing an additional 94,015 shares during the period. Institutional investors and hedge funds own 99.43% of the company's stock.

Synaptics Stock Up 1.9 %

Shares of SYNA traded up $1.69 during midday trading on Friday, reaching $89.26. 215,296 shares of the stock were exchanged, compared to its average volume of 269,361. Synaptics has a 52 week low of $67.73 and a 52 week high of $121.37. The company has a current ratio of 4.53, a quick ratio of 4.04 and a debt-to-equity ratio of 0.79. The company's 50 day moving average is $96.80 and its two-hundred day moving average is $101.08. The company has a market capitalization of $3.51 billion, a P/E ratio of -44.85 and a beta of 1.56.

Synaptics (NASDAQ:SYNA - Get Free Report) last posted its quarterly earnings results on Thursday, February 8th. The software maker reported $0.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.11. Synaptics had a positive return on equity of 3.01% and a negative net margin of 7.54%. The business had revenue of $237.00 million for the quarter, compared to the consensus estimate of $235.26 million. During the same quarter in the prior year, the company earned $1.47 EPS. The business's revenue was down 32.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Synaptics will post -0.48 earnings per share for the current year.

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.