Synaptics (SYNA) Stock Rating Upgraded by ValuEngine

Synaptics (NASDAQ:SYNA) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Monday, April 1st, ValuEngine reports.

SYNA has been the topic of a number of other research reports. BidaskClub raised shares of Synaptics from a “hold” rating to a “buy” rating in a research note on Wednesday, March 13th. Needham & Company LLC boosted their price objective on shares of Synaptics to $60.00 and gave the company a “buy” rating in a research report on Friday, February 8th. Zacks Investment Research cut shares of Synaptics from a “buy” rating to a “hold” rating in a research report on Wednesday, January 16th. JPMorgan Chase & Co. cut their price objective on shares of Synaptics from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Monday, March 18th. Finally, Mizuho cut shares of Synaptics from a “buy” rating to a “neutral” rating and cut their price objective for the company from $48.00 to $39.00 in a research report on Monday, March 18th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $48.55.

Shares of SYNA stock traded down $0.01 during mid-day trading on Monday, hitting $38.08. The company had a trading volume of 598,848 shares, compared to its average volume of 632,649. Synaptics has a 52-week low of $31.65 and a 52-week high of $55.25. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.15 and a current ratio of 2.64. The company has a market capitalization of $1.29 billion, a PE ratio of 19.23 and a beta of 0.90.

Synaptics (NASDAQ:SYNA) last released its earnings results on Thursday, February 7th. The software maker reported $1.55 EPS for the quarter, topping the consensus estimate of $0.93 by $0.62. The firm 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%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.11 earnings per share. On average, research analysts predict that Synaptics will post 2.94 EPS for the current fiscal year.

In other news, insider Kermit Nolan sold 10,000 shares of the company’s stock in a transaction dated 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 in the company, valued at $2,722,200.39. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 2.70% of the company’s stock.

A number of institutional investors have recently modified their holdings of SYNA. NumerixS Investment Technologies Inc purchased a new stake in shares of Synaptics during the fourth quarter valued at about $38,000. BlueMountain Capital Management LLC purchased a new position in shares of Synaptics in the 3rd quarter valued at approximately $104,000. Neuburgh Advisers LLC raised its position in shares of 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 purchasing an additional 352 shares during the last quarter. Truvestments Capital LLC purchased a new position in shares of Synaptics in the 1st quarter valued at approximately $136,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Synaptics by 83.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 3,443 shares of the software maker’s stock valued at $157,000 after purchasing an additional 1,566 shares during the last quarter. Institutional investors own 99.26% of the company’s stock.

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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