Synaptics (SYNA) Stock Rating Reaffirmed by Needham & Company LLC

Synaptics (NASDAQ:SYNA)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a research note issued to investors on Friday, Briefing.com Automated Import reports. They presently have a $42.00 price objective on the software maker’s stock, down from their previous price objective of $45.00. Needham & Company LLC’s price objective indicates a potential upside of 19.25% from the company’s previous close.

SYNA has been the topic of several other reports. Zacks Investment Research raised shares of Synaptics from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research report on Thursday, February 7th. BidaskClub raised shares of Synaptics from a “hold” rating to a “buy” rating in a research report on Wednesday, March 13th. Mizuho reissued a “buy” rating on shares of Synaptics in a research report on Friday, February 8th. ValuEngine raised shares of Synaptics from a “sell” rating to a “hold” rating in a research report on Monday, January 28th. Finally, 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. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. Synaptics currently has a consensus rating of “Hold” and an average price target of $44.40.

Shares of NASDAQ:SYNA traded up $3.50 during midday trading on Friday, reaching $35.22. The company’s stock had a trading volume of 2,692,373 shares, compared to its average volume of 633,387. The company has a market capitalization of $1.09 billion, a PE ratio of 17.79 and a beta of 0.86. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.64 and a quick ratio of 2.15. Synaptics has a 12-month low of $31.39 and a 12-month high of $55.25.

Synaptics (NASDAQ:SYNA) last released its earnings results on Thursday, May 9th. The software maker reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.52. The firm had revenue of $334.00 million for the quarter, compared to the consensus estimate of $345.30 million. Synaptics had a net margin of 1.39% and a return on equity of 15.27%. The company’s revenue was down 15.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.92 EPS. Equities analysts anticipate that Synaptics will post 2.94 EPS for the current fiscal year.

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

Several hedge funds and other institutional investors have recently made changes to their positions in SYNA. Teachers Advisors LLC boosted its holdings in shares of Synaptics by 4.6% during the 3rd quarter. Teachers Advisors LLC now owns 68,173 shares of the software maker’s stock valued at $3,110,000 after acquiring an additional 2,994 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Synaptics by 9.2% during the 3rd quarter. Vanguard Group Inc. now owns 3,511,485 shares of the software maker’s stock valued at $160,194,000 after acquiring an additional 295,956 shares during the last quarter. Vanguard Group Inc boosted its holdings in shares of Synaptics by 9.2% during the 3rd quarter. Vanguard Group Inc now owns 3,511,485 shares of the software maker’s stock valued at $160,194,000 after acquiring an additional 295,956 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Synaptics by 1.5% during the 3rd quarter. Legal & General Group Plc now owns 33,198 shares of the software maker’s stock valued at $1,515,000 after acquiring an additional 503 shares during the last quarter. Finally, Cardinal Capital Management boosted its holdings in shares of Synaptics by 6.2% during the 4th quarter. Cardinal Capital Management now owns 19,255 shares of the software maker’s stock valued at $716,000 after acquiring an additional 1,126 shares during the last quarter. 98.56% of the stock is currently owned by hedge funds and other institutional investors.

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.

Further Reading: Average Daily Trade Volume – ADTV

Analyst Recommendations for Synaptics (NASDAQ:SYNA)

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