Synaptics (NASDAQ:SYNA) Shares Down 2.7% – Here’s Why

Synaptics Incorporated (NASDAQ:SYNA) shares were down 2.7% during mid-day trading on Friday . The company traded as low as $79.94 and last traded at $80.24. Approximately 99,197 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 470,422 shares. The stock had previously closed at $82.48.

Wall Street Analyst Weigh In

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

Synaptics Stock Down 2.3 %

The company has a market capitalization of $3.23 billion, a PE ratio of 20.41 and a beta of 1.45. The business has a 50-day moving average of $76.76 and a 200 day moving average of $78.81. 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 Transactions at Synaptics

In related news, insider Vikram Gupta sold 411 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $81.63, for a total value of $33,549.93. Following the sale, the insider now directly owns 40,795 shares of the company’s stock, valued at $3,330,095.85. This represents a 1.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.30% of the company’s stock.

Institutional Trading of Synaptics

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its stake in shares of Synaptics by 261.8% during the third quarter. GAMMA Investing LLC now owns 369 shares of the software maker’s stock valued at $29,000 after acquiring an additional 267 shares in the last quarter. Quarry LP bought a new position in Synaptics during the 3rd quarter worth about $31,000. CWM LLC increased its position in Synaptics by 58.1% during the 3rd quarter. CWM LLC now owns 1,151 shares of the software maker’s stock valued at $89,000 after purchasing an additional 423 shares during the period. Van ECK Associates Corp purchased a new position in Synaptics during the 3rd quarter valued at about $132,000. Finally, nVerses Capital LLC raised its holdings in shares of Synaptics by 75.0% in the 3rd quarter. nVerses Capital LLC now owns 2,800 shares of the software maker’s stock valued at $217,000 after purchasing an additional 1,200 shares in the last quarter. Hedge funds and other institutional investors own 99.43% of the company’s stock.

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.