Synaptics (NASDAQ:SYNA) Price Target Lowered to $95.00 at Wells Fargo & Company

Synaptics (NASDAQ:SYNA - Get Free Report) had its price target lowered by investment analysts at Wells Fargo & Company from $115.00 to $95.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an "equal weight" rating on the software maker's stock. Wells Fargo & Company's price objective points to a potential upside of 6.81% from the stock's previous close.

SYNA has been the subject of a number of other research reports. Craig Hallum lowered shares of Synaptics from a "buy" rating to a "hold" rating and set a $105.00 price objective for the company. in a report on Friday, February 9th. Susquehanna lifted their price target on shares of Synaptics from $130.00 to $135.00 and gave the stock a "positive" rating in a report on Friday, February 9th. TD Cowen decreased their price objective on Synaptics from $135.00 to $115.00 and set a "buy" rating for the company in a report on Friday. Needham & Company LLC cut their target price on Synaptics from $125.00 to $110.00 and set a "buy" rating on the stock in a report on Friday. Finally, Mizuho reduced their price target on Synaptics from $127.00 to $124.00 and set a "buy" rating on the stock in a research report on Friday, February 9th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, Synaptics currently has an average rating of "Moderate Buy" and an average target price of $117.67.

Synaptics Price Performance

NASDAQ:SYNA traded down $2.72 on Friday, hitting $88.94. The company had a trading volume of 846,862 shares, compared to its average volume of 294,215. The firm has a 50 day moving average of $94.43 and a two-hundred day moving average of $100.75. The stock has a market capitalization of $3.50 billion, a price-to-earnings ratio of -44.13 and a beta of 1.59. Synaptics has a 52 week low of $72.64 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.

Synaptics (NASDAQ:SYNA - Get Free Report) last released its quarterly earnings data on Thursday, May 9th. The software maker reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.04. Synaptics had a positive return on equity of 3.01% and a negative net margin of 7.54%. The company had revenue of $237.30 million for the quarter, compared to the consensus estimate of $235.17 million. During the same quarter last year, the business posted $1.14 EPS. Synaptics's revenue for the quarter was down 27.3% on a year-over-year basis. On average, research analysts anticipate that Synaptics will post -0.48 earnings per share for the current year.

Insider Buying and Selling

In other Synaptics news, insider Vikram Gupta sold 3,616 shares of the business's 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 transaction, 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 legal filing with the SEC, which is available through this link. 1.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Synaptics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Signaturefd LLC raised its stake in Synaptics by 711.8% during the 3rd quarter. Signaturefd LLC now owns 276 shares of the software maker's stock worth $25,000 after buying an additional 242 shares during the period. Venturi Wealth Management LLC bought a new position in shares of Synaptics in the third quarter valued at $31,000. Fifth Third Bancorp grew its holdings in shares of Synaptics by 92.4% during the third quarter. Fifth Third Bancorp now owns 433 shares of the software maker's stock valued at $39,000 after buying an additional 208 shares during the last quarter. Headinvest LLC bought a new stake in shares of Synaptics during the third quarter worth about $40,000. Finally, Covestor Ltd raised its holdings in shares of Synaptics by 180.3% in the 3rd quarter. Covestor Ltd now owns 639 shares of the software maker's stock worth $57,000 after acquiring an additional 411 shares during the last quarter. Institutional investors own 99.43% of the company's stock.

About Synaptics

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.

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