Synaptics (NASDAQ:SYNA) Share Price Crosses Above 200-Day Moving Average - Here's Why

Synaptics Incorporated (NASDAQ:SYNA - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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 traded.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SYNA. Needham & Company LLC assumed coverage on shares of Synaptics in a report on Friday, May 9th. They set a "buy" rating and a $80.00 price target on the stock. Mizuho decreased their price target on shares of Synaptics from $90.00 to $80.00 and set an "outperform" rating for the company in a research note on Monday, March 24th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $93.75.

Synaptics Trading Down 1.8%

The stock has a market capitalization of $2.63 billion, a PE ratio of 16.54 and a beta of 1.70. The stock's 50 day moving average price is $63.36 and its 200-day moving average price is $66.08. The company has a quick ratio of 2.34, a current ratio of 2.88 and a debt-to-equity ratio of 0.60.

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. Synaptics had a net margin of 15.90% and a return on equity of 3.16%. The business had revenue of $266.60 million during the quarter, compared to analysts' expectations of $265.03 million. During the same period last year, the company posted $0.53 EPS. The business's revenue was up 12.3% on a year-over-year basis. On average, sell-side analysts expect that Synaptics Incorporated will post 0.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Arizona State Retirement System lifted its position in shares of Synaptics by 1.8% during the fourth quarter. Arizona State Retirement System now owns 11,573 shares of the software maker's stock worth $883,000 after purchasing an additional 200 shares in the last quarter. Bridge City Capital LLC raised its holdings in Synaptics by 0.9% in the fourth quarter. Bridge City Capital LLC now owns 22,511 shares of the software maker's stock valued at $1,718,000 after acquiring an additional 201 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Synaptics by 32.5% in the first quarter. PNC Financial Services Group Inc. now owns 1,016 shares of the software maker's stock valued at $65,000 after acquiring an additional 249 shares in the last quarter. Parallel Advisors LLC raised its holdings in Synaptics by 151.1% during the first quarter. Parallel Advisors LLC now owns 447 shares of the software maker's stock worth $28,000 after purchasing an additional 269 shares in the last quarter. Finally, Summit Investment Advisors Inc. raised its holdings in Synaptics by 1.5% during the fourth quarter. Summit Investment Advisors Inc. now owns 21,345 shares of the software maker's stock worth $1,629,000 after purchasing an additional 323 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.