Synaptics Incorporated (NASDAQ:SYNA) Given Average Rating of "Buy" by Brokerages

Synaptics Incorporated (NASDAQ:SYNA - Get Free Report) has earned a consensus rating of "Buy" from the eight brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $93.75.

Several equities analysts have weighed in on SYNA shares. Needham & Company LLC began coverage on Synaptics in a research note on Friday, May 9th. They set a "buy" rating and a $80.00 target price on the stock. Mizuho decreased their target price on Synaptics from $90.00 to $80.00 and set an "outperform" rating on the stock in a report on Monday, March 24th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $105.00 price target on shares of Synaptics in a report on Thursday, February 27th.

Synaptics Stock Down 0.7%

Shares of SYNA traded down $0.42 during mid-day trading on Monday, reaching $62.06. 19,826 shares of the stock traded hands, compared to its average volume of 476,979. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of 14.73 and a beta of 1.67. The stock has a fifty day simple moving average of $56.52 and a 200 day simple moving average of $68.42. Synaptics has a 12-month low of $41.80 and a 12-month high of $98.00. The company has a quick ratio of 3.36, a current ratio of 3.88 and a debt-to-equity ratio of 0.60.

Synaptics (NASDAQ:SYNA - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The software maker reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $0.05. Synaptics had a net margin of 16.73% and a return on equity of 1.61%. The firm had revenue of $266.60 million during the quarter, compared to the consensus estimate of $265.03 million. During the same quarter in the previous year, the company posted $0.53 earnings per share. The firm's revenue was up 12.3% on a year-over-year basis. Sell-side analysts expect that Synaptics will post 0.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Ameriprise Financial Inc. lifted its position in Synaptics by 22.5% in the 1st quarter. Ameriprise Financial Inc. now owns 6,098,453 shares of the software maker's stock valued at $388,587,000 after acquiring an additional 1,118,559 shares in the last quarter. Vanguard Group Inc. increased its stake in 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 buying an additional 93,155 shares in the last quarter. Toronto Dominion Bank purchased a new position in shares of Synaptics during the fourth quarter valued at about $152,895,000. FMR LLC grew its position in shares of Synaptics by 0.9% during the fourth quarter. FMR LLC now owns 1,891,227 shares of the software maker's stock valued at $144,338,000 after purchasing an additional 16,337 shares in the last quarter. Finally, Trigran Investments Inc. grew its position in shares of Synaptics by 5.5% during the first 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 in the last quarter. Hedge funds and other institutional investors own 99.43% of the company's stock.

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.