Synaptics (NASDAQ:SYNA) Sees Large Volume Increase – What’s Next?

Synaptics Incorporated (NASDAQ:SYNA) saw unusually-high trading volume on Friday . Approximately 1,245,263 shares were traded during mid-day trading, an increase of 293% from the previous session’s volume of 316,907 shares.The stock last traded at $75.30 and had previously closed at $75.24.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SYNA shares. TD Cowen upped their price objective on Synaptics from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Susquehanna decreased their price target on Synaptics from $110.00 to $95.00 and set a “positive” rating on the stock in a report on Monday, October 21st. JPMorgan Chase & Co. dropped their price objective on shares of Synaptics from $120.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. KeyCorp downgraded shares of Synaptics from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Finally, Rosenblatt Securities lowered their target price on shares of Synaptics from $130.00 to $92.00 and set a “buy” rating for the company in a report on Friday, November 8th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.33.

Synaptics Trading Down 0.9 %

The stock’s fifty day moving average price is $73.82 and its 200 day moving average price is $82.17. The stock has a market capitalization of $2.99 billion, a P/E ratio of 19.05 and a beta of 1.47. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.49 and a quick ratio of 4.02.

Insider Activity at Synaptics

In related news, insider Vikram Gupta sold 1,008 shares of Synaptics stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $80.00, for a total value of $80,640.00. Following the completion of the sale, the insider now directly owns 45,789 shares in the company, valued at $3,663,120. The trade was a 2.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last quarter, insiders sold 5,609 shares of company stock worth $448,720. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Synaptics

Hedge funds and other institutional investors have recently modified their holdings of the business. Heron Bay Capital Management lifted its position in shares of Synaptics by 1.3% during the first quarter. Heron Bay Capital Management now owns 9,197 shares of the software maker’s stock valued at $897,000 after buying an additional 116 shares during the last quarter. US Bancorp DE grew its position in Synaptics by 3.5% during the 1st quarter. US Bancorp DE now owns 3,603 shares of the software maker’s stock worth $352,000 after purchasing an additional 123 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Synaptics by 0.3% during the 1st quarter. Russell Investments Group Ltd. now owns 48,665 shares of the software maker’s stock valued at $4,748,000 after buying an additional 163 shares during the last quarter. Choreo LLC boosted its stake in shares of Synaptics by 3.9% in the second quarter. Choreo LLC now owns 4,845 shares of the software maker’s stock worth $417,000 after buying an additional 180 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in Synaptics by 2.1% during the second quarter. Arizona State Retirement System now owns 11,002 shares of the software maker’s stock worth $970,000 after acquiring an additional 229 shares during the period. 99.43% of the stock is currently owned by institutional investors.

Synaptics Company Profile

Synaptics Incorporated develops, markets, and sells semiconductor products worldwide. The company offers AudioSmart for voice and audio processing; ConnectSmart for high-speed video/audio/data connectivity; DisplayLink for transmitting compressed video frames across low bandwidth connections; VideoSmart that enables set-top boxes, over-the-top, streaming devices, soundbars, surveillance cameras, and smart displays; and ImagingSmart solutions.