Synaptics (SYNA) Raised to “Hold” at ValuEngine

ValuEngine upgraded shares of Synaptics (NASDAQ:SYNA) from a sell rating to a hold rating in a report published on Wednesday, ValuEngine reports.

A number of other equities analysts have also recently weighed in on the company. Mizuho reduced their price target on Synaptics from $39.00 to $35.00 and set a neutral rating for the company in a report on Friday, May 10th. BMO Capital Markets reduced their price target on Synaptics to $29.00 and set a market perform rating for the company in a report on Friday, May 10th. Craig Hallum reaffirmed a buy rating and issued a $39.00 price target (down previously from $47.00) on shares of Synaptics in a report on Friday, May 10th. Needham & Company LLC reaffirmed a buy rating and issued a $42.00 price target (down previously from $45.00) on shares of Synaptics in a report on Friday, May 10th. Finally, BidaskClub cut Synaptics from a hold rating to a sell rating in a report on Wednesday, May 8th. Two investment 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. The stock presently has an average rating of Hold and an average target price of $44.40.

NASDAQ SYNA opened at $29.54 on Wednesday. The stock has a market capitalization of $1.02 billion, a P/E ratio of 14.92 and a beta of 0.86. Synaptics has a twelve month low of $29.50 and a twelve month high of $55.25. The company has a quick ratio of 2.56, a current ratio of 3.19 and a debt-to-equity ratio of 0.64.

Synaptics (NASDAQ:SYNA) last released its quarterly earnings results on Thursday, May 9th. The software maker reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.52. The company had revenue of $334.00 million during the quarter, compared to analysts’ expectations of $345.30 million. Synaptics had a return on equity of 15.21% and a net margin of 1.39%. Synaptics’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.92 EPS. As a group, equities research analysts expect that Synaptics will post 2.33 EPS for the current year.

In other Synaptics news, SVP John Mcfarland sold 2,829 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $33.76, for a total transaction of $95,507.04. Following the completion of the transaction, the senior vice president now owns 21,871 shares of the company’s stock, valued at $738,364.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.70% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in SYNA. Norges Bank acquired a new position in shares of Synaptics during the fourth quarter valued at approximately $17,801,000. State of New Jersey Common Pension Fund D raised its holdings in shares of Synaptics by 190.5% during the first quarter. State of New Jersey Common Pension Fund D now owns 610,000 shares of the software maker’s stock valued at $24,248,000 after acquiring an additional 400,000 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Synaptics by 36.4% during the fourth quarter. Fisher Asset Management LLC now owns 1,283,764 shares of the software maker’s stock valued at $47,769,000 after acquiring an additional 342,909 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Synaptics by 9.2% during the third 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. Finally, Victory Capital Management Inc. acquired a new position in shares of Synaptics during the first quarter valued at approximately $9,559,000. 98.56% of the stock is 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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