Synaptics (NASDAQ:SYNA) Price Target Raised to $125.00 at Susquehanna

Key Points

• Susquehanna raised its price target on Synaptics from $105 to $125 and retains a "positive" rating, implying roughly a 14.4% upside from the prior close.
• Synaptics beat quarterly estimates with $1.21 EPS vs. $1.15 expected and $302.5M revenue (up 13.2% YoY), though the company still shows a negative net margin and a negative P/E.
• The stock's consensus is a "Moderate Buy" (10 Buys, 2 Holds, 2 Sells) with an average price target of $101.73, and institutional investors own about 99.43% of the shares.

Synaptics (NASDAQ:SYNA - Get Free Report) had its price target increased by Susquehanna from $105.00 to $125.00 in a report released on Friday,Benzinga reports. The firm presently has a "positive" rating on the software maker's stock. Susquehanna's target price indicates a potential upside of 14.43% from the stock's previous close.

Other equities research analysts have also recently issued reports about the company. TD Cowen reissued a "buy" rating on shares of Synaptics in a research note on Friday, February 6th. Wall Street Zen lowered Synaptics from a "buy" rating to a "hold" rating in a research report on Saturday, March 14th. Rosenblatt Securities upped their price target on shares of Synaptics from $95.00 to $125.00 and gave the stock a "buy" rating in a research note on Friday, February 6th. Mizuho increased their price objective on shares of Synaptics from $94.00 to $103.00 and gave the company an "outperform" rating in a research report on Friday, February 6th. Finally, Barclays reaffirmed an "overweight" rating and issued a $100.00 target price on shares of Synaptics in a report on Thursday, January 15th. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $101.73.

Synaptics Price Performance

SYNA stock opened at $109.24 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.33 and a current ratio of 2.93. The firm has a 50 day moving average price of $79.18 and a 200-day moving average price of $77.86. Synaptics has a 52-week low of $57.54 and a 52-week high of $110.43. The firm has a market capitalization of $4.23 billion, a price-to-earnings ratio of -68.75, a PEG ratio of 4.06 and a beta of 1.86.

Synaptics (NASDAQ:SYNA - Get Free Report) last posted its quarterly earnings results on Thursday, February 5th. The software maker reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.06. The company had revenue of $302.50 million for the quarter, compared to the consensus estimate of $300.31 million. Synaptics had a positive return on equity of 4.77% and a negative net margin of 5.41%.The firm's quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.92 EPS. Equities research analysts forecast that Synaptics will post 1.18 EPS for the current fiscal year.

Insider Activity at Synaptics

In other Synaptics news, insider Vikram Gupta sold 1,548 shares of the stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $92.90, for a total value of $143,809.20. Following the transaction, the insider directly owned 87,382 shares in the company, valued at approximately $8,117,787.80. This trade represents a 1.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lisa Bodensteiner sold 1,798 shares of Synaptics stock in a transaction on Monday, April 20th. The stock was sold at an average price of $81.87, for a total transaction of $147,202.26. Following the transaction, the insider owned 65,183 shares in the company, valued at $5,336,532.21. This represents a 2.68% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 7,348 shares of company stock worth $618,827 in the last quarter. Company insiders own 0.50% of the company's stock.

Hedge Funds Weigh In On Synaptics

Several institutional investors and hedge funds have recently bought and sold shares of SYNA. CIBC Private Wealth Group LLC raised its stake in shares of Synaptics by 119.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 349 shares of the software maker's stock worth $26,000 after buying an additional 190 shares during the period. Hantz Financial Services Inc. increased its holdings in Synaptics by 143.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 595 shares of the software maker's stock worth $41,000 after acquiring an additional 351 shares in the last quarter. Optiver Holding B.V. increased its holdings in Synaptics by 40.2% in the 3rd quarter. Optiver Holding B.V. now owns 593 shares of the software maker's stock worth $41,000 after acquiring an additional 170 shares in the last quarter. Leonteq Securities AG bought a new stake in Synaptics during the 4th quarter worth approximately $43,000. Finally, Lazard Asset Management LLC bought a new stake in Synaptics during the 2nd quarter worth approximately $54,000. 99.43% of the stock is currently owned by hedge funds and other institutional investors.

About Synaptics

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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