Synaptics Incorporated (NASDAQ:SYNA) Receives Average Recommendation of "Buy" from Brokerages

Synaptics Incorporated (NASDAQ:SYNA - Get Free Report) has received an average recommendation of "Buy" from the eight ratings firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $93.75.

A number of research analysts recently issued reports on SYNA shares. Mizuho reduced their price objective on Synaptics from $90.00 to $80.00 and set an "outperform" rating on the stock in a research note on Monday, March 24th. Rosenblatt Securities restated a "buy" rating and issued a $105.00 price target on shares of Synaptics in a research note on Thursday, February 27th. Finally, Needham & Company LLC assumed coverage on shares of Synaptics in a research report on Friday, May 9th. They set a "buy" rating and a $80.00 price objective for the company.

Synaptics Trading Up 0.4%

NASDAQ SYNA opened at $65.63 on Friday. The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of 15.89 and a beta of 1.68. Synaptics has a 52 week low of $41.80 and a 52 week high of $98.00. The stock's 50 day moving average price is $60.61 and its two-hundred day moving average price is $66.83. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.34 and a current ratio of 2.88.

Synaptics (NASDAQ:SYNA - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The software maker reported $0.90 earnings per share for the quarter, beating analysts' consensus estimates of $0.85 by $0.05. The firm had revenue of $266.60 million during the quarter, compared to the consensus estimate of $265.03 million. Synaptics had a return on equity of 3.16% and a net margin of 15.90%. The business's revenue was up 12.3% compared to the same quarter last year. During the same period last year, the company earned $0.53 earnings per share. As a group, analysts anticipate that Synaptics will post 0.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Synaptics

Several hedge funds and other institutional investors have recently bought and sold shares of SYNA. Ameriprise Financial Inc. raised its holdings in Synaptics by 22.5% during the first quarter. Ameriprise Financial Inc. now owns 6,098,453 shares of the software maker's stock worth $388,587,000 after buying an additional 1,118,559 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Synaptics by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 4,907,880 shares of the software maker's stock worth $374,569,000 after acquiring an additional 93,155 shares during the last quarter. Toronto Dominion Bank acquired a new stake in shares of Synaptics in the 4th quarter worth about $152,895,000. FMR LLC lifted its position in Synaptics by 0.9% in the 4th quarter. FMR LLC now owns 1,891,227 shares of the software maker's stock valued at $144,338,000 after acquiring an additional 16,337 shares in the last quarter. Finally, Trigran Investments Inc. boosted its stake in Synaptics by 5.5% during the 1st quarter. Trigran Investments Inc. now owns 1,130,733 shares of the software maker's stock valued at $72,050,000 after purchasing an additional 58,511 shares during the last quarter. 99.43% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.