Synaptics (NASDAQ:SYNA) Shares Gap Down – Time to Sell?

Synaptics Incorporated (NASDAQ:SYNA)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $74.50, but opened at $72.31. Synaptics shares last traded at $74.41, with a volume of 89,274 shares.

Analyst Ratings Changes

Several research firms recently weighed in on SYNA. Rosenblatt Securities reduced their target price on Synaptics from $130.00 to $92.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. TD Cowen boosted their price objective on Synaptics from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. KeyCorp cut shares of Synaptics from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Craig Hallum cut their price target on shares of Synaptics from $105.00 to $80.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Finally, Susquehanna decreased their target price on Synaptics from $110.00 to $95.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $97.33.

Synaptics Trading Down 0.8 %

The firm has a 50-day moving average price of $73.89 and a 200-day moving average price of $82.07. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of 18.90 and a beta of 1.47. The company has a current ratio of 4.49, a quick ratio of 4.02 and a debt-to-equity ratio of 0.66.

Insider Buying and Selling at Synaptics

In other Synaptics news, insider Vikram Gupta sold 1,008 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $80.00, for a total transaction of $80,640.00. Following the sale, the insider now owns 45,789 shares in the company, valued at approximately $3,663,120. The trade was a 2.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders sold 5,609 shares of company stock valued at $448,720. 1.30% of the stock is owned by insiders.

Institutional Trading of Synaptics

Several large investors have recently added to or reduced their stakes in the company. Barclays PLC boosted its stake in shares of Synaptics by 189.7% during the 3rd quarter. Barclays PLC now owns 81,330 shares of the software maker’s stock valued at $6,309,000 after buying an additional 53,252 shares during the period. XTX Topco Ltd bought a new stake in Synaptics during the third quarter valued at about $227,000. iSAM Funds UK Ltd acquired a new position in shares of Synaptics during the third quarter worth approximately $422,000. Quarry LP bought a new position in shares of Synaptics during the 3rd quarter worth about $31,000. Finally, Petrus Trust Company LTA bought a new position in Synaptics during the third quarter valued at about $844,000. 99.43% of the stock is owned by institutional investors and hedge funds.

About Synaptics

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.