Synaptics (NASDAQ:SYNA) Sets New 12-Month Low – Time to Sell?

Synaptics Incorporated (NASDAQ:SYNA) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $53.53 and last traded at $54.11, with a volume of 258946 shares traded. The stock had previously closed at $63.67.

Analysts Set New Price Targets

A number of brokerages have commented on SYNA. Susquehanna increased their price target on shares of Synaptics from $95.00 to $105.00 and gave the company a “positive” rating in a research report on Wednesday, January 22nd. Mizuho reduced their target price on shares of Synaptics from $90.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, March 24th. Rosenblatt Securities reissued a “buy” rating and issued a $105.00 price target on shares of Synaptics in a research note on Thursday, February 27th. Craig Hallum raised Synaptics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 29th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of Synaptics in a report on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.00.

Synaptics Trading Down 7.3 %

The company has a current ratio of 3.88, a quick ratio of 3.36 and a debt-to-equity ratio of 0.60. The firm has a market cap of $1.89 billion, a PE ratio of 11.41 and a beta of 1.60. The firm has a fifty day simple moving average of $68.66 and a two-hundred day simple moving average of $73.92.

Insider Activity at Synaptics

In other news, insider Ken Rizvi acquired 3,600 shares of the business’s stock in a transaction on Monday, February 10th. The shares were acquired at an average cost of $69.15 per share, with a total value of $248,940.00. Following the transaction, the insider now owns 27,630 shares in the company, valued at $1,910,614.50. The trade was a 14.98 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SYNA. Louisiana State Employees Retirement System boosted its holdings in shares of Synaptics by 1.8% during the 4th quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the software maker’s stock valued at $847,000 after buying an additional 200 shares in the last quarter. State of Michigan Retirement System boosted its stake in Synaptics by 2.1% during the fourth quarter. State of Michigan Retirement System now owns 9,533 shares of the software maker’s stock worth $728,000 after acquiring an additional 200 shares in the last quarter. Arizona State Retirement System grew its holdings in Synaptics by 1.8% in the fourth quarter. Arizona State Retirement System now owns 11,573 shares of the software maker’s stock worth $883,000 after purchasing an additional 200 shares during the period. Bridge City Capital LLC increased its stake in shares of Synaptics by 0.9% during the fourth quarter. Bridge City Capital LLC now owns 22,511 shares of the software maker’s stock valued at $1,718,000 after purchasing an additional 201 shares in the last quarter. Finally, Inspire Advisors LLC lifted its holdings in shares of Synaptics by 2.7% during the fourth quarter. Inspire Advisors LLC now owns 8,175 shares of the software maker’s stock valued at $624,000 after purchasing an additional 212 shares during the last quarter. Hedge funds and other institutional investors own 99.43% of the company’s stock.

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.