Rosenblatt Securities Lowers Synaptics (NASDAQ:SYNA) Price Target to $115.00

Key Points

• Rosenblatt Securities lowered Synaptics’ price target from $160 to $115 while maintaining a “neutral” rating, implying 12.63% potential upside from the prior close.
• Analyst sentiment is broadly cautious: Synaptics has an average “Hold” rating and a consensus price target of $129.36, with three Buy, ten Hold, and one Sell recommendation.
• Synaptics recently beat quarterly estimates, reporting $1.23 in adjusted EPS versus $1.21 expected and revenue of $308 million, up 8.9% year over year; however, insiders have sold $1.6 million of stock over the past 90 days.

Synaptics (NASDAQ:SYNA - Get Free Report) had its price target decreased by analysts at Rosenblatt Securities from $160.00 to $115.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the software maker's stock. Rosenblatt Securities' target price points to a potential upside of 12.63% from the company's previous close.

Other equities research analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft cut Synaptics from a "buy" rating to a "hold" rating and set a $125.00 target price on the stock. in a research report on Monday, June 29th. Mizuho increased their price target on Synaptics from $128.00 to $170.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 1st. Northland Securities lowered Synaptics from a "strong-buy" rating to a "hold" rating in a report on Friday, June 26th. Needham & Company LLC cut Synaptics from a "buy" rating to a "hold" rating in a research report on Friday, June 26th. Finally, Wall Street Zen raised Synaptics from a "hold" rating to a "buy" rating in a research note on Saturday, July 4th. Three equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Synaptics has an average rating of "Hold" and an average price target of $129.36.

Synaptics Stock Performance

SYNA opened at $102.10 on Friday. The firm has a fifty day moving average price of $124.23 and a 200 day moving average price of $102.04. Synaptics has a 1 year low of $58.28 and a 1 year high of $149.11. The stock has a market cap of $3.95 billion, a P/E ratio of -82.34 and a beta of 1.99. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.04 and a quick ratio of 2.39.

Synaptics (NASDAQ:SYNA - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The software maker reported $1.23 earnings per share for the quarter, beating analysts' consensus estimates of $1.21 by $0.02. Synaptics had a negative net margin of 4.10% and a positive return on equity of 4.32%. The company had revenue of $308.00 million during the quarter, compared to analysts' expectations of $305.32 million. During the same quarter in the previous year, the company earned $1.01 earnings per share. The firm's revenue for the quarter was up 8.9% on a year-over-year basis. Equities research analysts anticipate that Synaptics will post 1.29 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Vikram Gupta sold 692 shares of Synaptics stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $114.83, for a total transaction of $79,462.36. Following the transaction, the insider owned 84,126 shares in the company, valued at $9,660,188.58. The trade was a 0.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Esther Song sold 8,833 shares of the business's stock in a transaction dated 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 transaction, the insider directly owned 12,421 shares in the company, valued at approximately $1,753,472.57. The trade was a 41.56% 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. Over the last 90 days, insiders have sold 11,649 shares of company stock worth $1,603,484. 0.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Synaptics

Institutional investors and hedge funds have recently bought and sold shares of the company. CoreCap Advisors LLC acquired a new stake in shares of Synaptics during the 2nd quarter worth approximately $25,000. CIBC Private Wealth Group LLC lifted its holdings in Synaptics by 119.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 349 shares of the software maker's stock valued at $26,000 after acquiring an additional 190 shares during the last quarter. Global Retirement Partners LLC purchased a new position in Synaptics in the second quarter worth approximately $61,000. State of Wyoming acquired a new stake in Synaptics during the second quarter worth $65,000. Finally, Leonteq Securities AG acquired a new stake in Synaptics during the fourth quarter worth $43,000. 99.43% of the stock is currently owned by institutional investors and hedge funds.

Synaptics Company Profile

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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