BidaskClub Upgrades Synaptics (SYNA) to Buy

BidaskClub upgraded shares of Synaptics (NASDAQ:SYNA) from a hold rating to a buy rating in a research note published on Saturday, March 30th, BidAskClub reports.

A number of other research firms have also recently issued reports on SYNA. ValuEngine upgraded shares of Synaptics from a strong sell rating to a sell rating in a report on Tuesday, March 26th. JPMorgan Chase & Co. cut shares of Synaptics from an overweight rating to a neutral rating and decreased their price target for the company from $55.00 to $50.00 in a report on Friday, February 8th. Zacks Investment Research cut shares of Synaptics from a buy rating to a hold rating in a research note on Wednesday, January 16th. Needham & Company LLC increased their target price on shares of Synaptics to $60.00 and gave the company a buy rating in a research note on Friday, February 8th. Finally, Mizuho cut shares of Synaptics from a buy rating to a neutral rating and reduced their target price for the company from $48.00 to $39.00 in a research note on Monday, March 18th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. Synaptics presently has an average rating of Hold and a consensus target price of $48.55.

NASDAQ:SYNA traded down $0.52 during trading hours on Friday, hitting $38.15. 445,694 shares of the stock traded hands, compared to its average volume of 884,669. Synaptics has a fifty-two week low of $31.65 and a fifty-two week high of $55.25. The company has a quick ratio of 2.15, a current ratio of 2.64 and a debt-to-equity ratio of 0.65. The company has a market cap of $1.31 billion, a P/E ratio of 19.27 and a beta of 0.90.

Synaptics (NASDAQ:SYNA) last posted its quarterly earnings results on Thursday, February 7th. The software maker reported $1.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.62. The business had revenue of $425.50 million for the quarter, compared to the consensus estimate of $421.54 million. Synaptics had a net margin of 0.09% and a return on equity of 15.38%. Synaptics’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.11 earnings per share. Equities research analysts anticipate that Synaptics will post 2.94 earnings per share for the current year.

In other Synaptics news, insider Kermit Nolan sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $41.49, for a total value of $414,900.00. Following the transaction, the insider now directly owns 65,611 shares of the company’s stock, valued at $2,722,200.39. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.70% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. NumerixS Investment Technologies Inc acquired a new stake in Synaptics in the 4th quarter valued at $38,000. BlueMountain Capital Management LLC acquired a new stake in Synaptics in the 3rd quarter valued at $104,000. Neuburgh Advisers LLC increased its stake in Synaptics by 11.8% in the 4th quarter. Neuburgh Advisers LLC now owns 3,344 shares of the software maker’s stock valued at $124,000 after buying an additional 352 shares during the last quarter. Truvestments Capital LLC acquired a new position in shares of Synaptics during the 1st quarter worth about $136,000. Finally, Dupont Capital Management Corp acquired a new position in shares of Synaptics during the 4th quarter worth about $151,000. 99.19% of the stock is currently owned by institutional investors and hedge funds.

About Synaptics

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

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Analyst Recommendations for Synaptics (NASDAQ:SYNA)

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