Synaptics (NASDAQ:SYNA) Stock Price Passes Above Two Hundred Day Moving Average - Time to Sell?

Shares of Synaptics Incorporated (NASDAQ:SYNA - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $66.10 and traded as high as $68.44. Synaptics shares last traded at $66.53, with a volume of 246,407 shares trading hands.

Wall Street Analyst Weigh In

SYNA has been the topic of several recent research reports. Mizuho decreased their price target on Synaptics from $90.00 to $80.00 and set an "outperform" rating on the stock in a report on Monday, March 24th. Needham & Company LLC assumed coverage on Synaptics in a research report on Friday, May 9th. They issued a "buy" rating and a $80.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Synaptics has a consensus rating of "Buy" and an average target price of $93.75.

Synaptics Stock Up 0.6%

The company has a market cap of $2.66 billion, a PE ratio of 16.73 and a beta of 1.70. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.88 and a quick ratio of 2.34. The firm has a 50-day simple moving average of $62.83 and a two-hundred day simple moving average of $66.12.

Synaptics (NASDAQ:SYNA - Get Free Report) last issued 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. The company had revenue of $266.60 million for the quarter, compared to analysts' expectations of $265.03 million. Synaptics had a return on equity of 3.16% and a net margin of 15.90%. The firm's quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.53 earnings per share. Research analysts anticipate that Synaptics Incorporated will post 0.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Synaptics

Hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC boosted its position in Synaptics by 88.6% during the second quarter. Parallel Advisors LLC now owns 843 shares of the software maker's stock valued at $55,000 after purchasing an additional 396 shares during the last quarter. Glenview Trust co raised its holdings in Synaptics by 13.6% in the 1st quarter. Glenview Trust co now owns 31,455 shares of the software maker's stock valued at $2,004,000 after acquiring an additional 3,775 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Synaptics by 5.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 90,704 shares of the software maker's stock valued at $5,780,000 after acquiring an additional 4,917 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Synaptics by 9.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 66,408 shares of the software maker's stock worth $4,232,000 after buying an additional 5,733 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Synaptics by 112.9% in the 1st quarter. AQR Capital Management LLC now owns 154,918 shares of the software maker's stock worth $9,684,000 after buying an additional 82,162 shares in the last quarter. 99.43% of the stock is currently owned by institutional investors and hedge funds.

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.