Synaptics (NASDAQ:SYNA) Earns Overweight Rating from Analysts at Barclays

Key Points

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Stock analysts at Barclays started coverage on shares of Synaptics (NASDAQ:SYNA - Get Free Report) in a report released on Monday, Marketbeat reports. The brokerage set an "overweight" rating and a $78.00 price target on the software maker's stock. Barclays's price target indicates a potential upside of 9.17% from the stock's previous close.

Several other brokerages have also recently weighed in on SYNA. Wall Street Zen upgraded shares of Synaptics from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Needham & Company LLC initiated coverage on shares of Synaptics in a research report on Friday, May 9th. They issued a "buy" rating and a $80.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $91.33.

Synaptics Price Performance

Shares of SYNA stock traded up $5.13 during mid-day trading on Monday, hitting $71.45. The company had a trading volume of 678,028 shares, compared to its average volume of 538,628. Synaptics has a 52-week low of $41.80 and a 52-week high of $89.81. The stock's 50 day moving average price is $65.93 and its 200-day moving average price is $62.96. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.78 and a quick ratio of 2.26. The company has a market capitalization of $2.75 billion, a P/E ratio of -59.05 and a beta of 1.61.

Synaptics (NASDAQ:SYNA - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The software maker reported $1.01 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.01. Synaptics had a negative net margin of 4.45% and a positive return on equity of 4.32%. The company had revenue of $282.80 million for the quarter, compared to analysts' expectations of $280.12 million. During the same quarter in the previous year, the business posted $0.64 earnings per share. Synaptics's quarterly revenue was up 14.3% on a year-over-year basis. Synaptics has set its Q1 2026 guidance at 1.490-1.690 EPS. Equities research analysts forecast that Synaptics will post 0.96 earnings per share for the current year.

Synaptics announced that its board has authorized a share buyback program on Thursday, August 7th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the software maker to repurchase up to 6.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

Institutional Trading of Synaptics

A number of hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC lifted its stake in Synaptics by 160.6% in the second quarter. Tower Research Capital LLC TRC now owns 5,081 shares of the software maker's stock worth $329,000 after acquiring an additional 3,131 shares during the period. Corient Private Wealth LLC purchased a new stake in Synaptics in the second quarter worth about $328,000. Captrust Financial Advisors purchased a new stake in Synaptics in the second quarter worth about $237,000. Lazard Asset Management LLC purchased a new stake in Synaptics in the second quarter worth about $54,000. Finally, HRT Financial LP purchased a new stake in Synaptics in the second quarter worth about $2,318,000. 99.43% of the stock is owned by hedge funds and other 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.