Synaptics (SYNA) PT Set at $55.00 by Rosenblatt Securities

Synaptics (NASDAQ:SYNA) has been given a $55.00 target price by investment analysts at Rosenblatt Securities in a report issued on Saturday. The firm presently has a “hold” rating on the software maker’s stock. Rosenblatt Securities’ price objective indicates a potential upside of 28.84% from the stock’s previous close.

SYNA has been the subject of a number of other reports. JPMorgan Chase & Co. upped their price objective on shares of Synaptics from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday. ValuEngine cut shares of Synaptics from a “hold” rating to a “sell” rating in a research report on Thursday, August 2nd. Lake Street Capital reiterated a “hold” rating and set a $52.00 price objective on shares of Synaptics in a research report on Friday. Cowen set a $60.00 price objective on shares of Synaptics and gave the stock a “buy” rating in a research report on Tuesday, May 8th. Finally, Craig Hallum reiterated a “buy” rating and set a $56.00 price objective (up from $51.00) on shares of Synaptics in a research report on Friday. Five investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $49.85.

Shares of Synaptics traded down $5.48, reaching $42.69, on Friday, MarketBeat reports. 2,330,546 shares of the stock were exchanged, compared to its average volume of 607,792. Synaptics has a one year low of $33.73 and a one year high of $55.25. The company has a current ratio of 2.50, a quick ratio of 2.09 and a debt-to-equity ratio of 0.64. The company has a market cap of $1.67 billion, a PE ratio of 21.56, a price-to-earnings-growth ratio of 1.45 and a beta of 0.85.

Synaptics (NASDAQ:SYNA) last released its quarterly earnings data on Thursday, August 9th. The software maker reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.09. The business had revenue of $388.50 million during the quarter, compared to analysts’ expectations of $391.75 million. Synaptics had a negative net margin of 7.61% and a positive return on equity of 11.15%. The firm’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.18 EPS. research analysts forecast that Synaptics will post 3.33 earnings per share for the current year.

In other Synaptics news, Director Francis F. Lee sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, May 17th. The shares were sold at an average price of $43.00, for a total value of $860,000.00. Following the completion of the transaction, the director now directly owns 67,069 shares in the company, valued at approximately $2,883,967. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Francis F. Lee sold 7,385 shares of the stock in a transaction on Monday, May 14th. The stock was sold at an average price of $43.03, for a total transaction of $317,776.55. Following the sale, the director now owns 54,454 shares of the company’s stock, valued at $2,343,155.62. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 411,420 shares of company stock valued at $20,511,668. Corporate insiders own 3.70% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of SYNA. Harel Insurance Investments & Financial Services Ltd. bought a new position in Synaptics during the second quarter worth $166,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in Synaptics by 53.3% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,315 shares of the software maker’s stock worth $197,000 after acquiring an additional 1,500 shares in the last quarter. Mutual Advisors LLC bought a new position in Synaptics during the first quarter worth $222,000. Xact Kapitalforvaltning AB bought a new position in Synaptics during the first quarter worth $226,000. Finally, NJ State Employees Deferred Compensation Plan bought a new position in Synaptics during the second quarter worth $252,000.

About Synaptics

Synaptics Incorporated develops, markets, and sells intuitive human interface solutions for electronic devices and products worldwide. The company offers its human interface products solutions for mobile product applications, including smartphones, tablets, and touchscreen applications, as well as mobile, handheld, wireless, and entertainment devices; notebook applications; and other personal computer (PC) product applications, such as keyboards, mice, and desktop product applications.

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Analyst Recommendations for Synaptics (NASDAQ:SYNA)

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