Synaptics (NASDAQ:SYNA) Given “Buy” Rating at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Synaptics (NASDAQ:SYNA) in a report released on Thursday, Benzinga reports. Rosenblatt Securities currently has a $130.00 price target on the software maker’s stock.

A number of other brokerages have also weighed in on SYNA. JPMorgan Chase & Co. decreased their price objective on Synaptics from $120.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Craig Hallum lowered their target price on Synaptics from $105.00 to $80.00 and set a “hold” rating on the stock in a report on Friday, August 9th. TD Cowen cut their price target on Synaptics from $115.00 to $90.00 and set a “buy” rating for the company in a report on Friday, August 9th. KeyCorp lowered Synaptics from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Finally, Needham & Company LLC reduced their price target on Synaptics from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $101.00.

Synaptics Price Performance

Shares of NASDAQ:SYNA traded up $1.88 during midday trading on Thursday, reaching $70.55. 58,601 shares of the company’s stock traded hands, compared to its average volume of 305,487. The company has a market cap of $2.82 billion, a P/E ratio of 22.68 and a beta of 1.46. The company has a fifty day simple moving average of $74.70 and a two-hundred day simple moving average of $82.90. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.78 and a current ratio of 4.19. Synaptics has a 1 year low of $67.83 and a 1 year high of $121.37.

Synaptics (NASDAQ:SYNA) last released its earnings results on Thursday, August 8th. The software maker reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.09. Synaptics had a net margin of 13.09% and a negative return on equity of 0.54%. The business had revenue of $247.40 million during the quarter, compared to analysts’ expectations of $245.17 million. During the same quarter in the previous year, the company earned $0.01 earnings per share. The company’s quarterly revenue was up 8.8% on a year-over-year basis. Equities analysts predict that Synaptics will post 0.81 EPS for the current fiscal year.

Insider Buying and Selling

In other Synaptics news, insider Vikram Gupta sold 1,008 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $80.00, for a total transaction of $80,640.00. Following the transaction, the insider now directly owns 45,789 shares in the company, valued at $3,663,120. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders sold 5,609 shares of company stock valued at $448,720. Company insiders own 1.30% of the company’s stock.

Institutional Trading of Synaptics

Several hedge funds have recently modified their holdings of the stock. Heron Bay Capital Management increased its position in shares of Synaptics by 1.3% in the 1st quarter. Heron Bay Capital Management now owns 9,197 shares of the software maker’s stock valued at $897,000 after purchasing an additional 116 shares during the last quarter. US Bancorp DE raised its stake in Synaptics by 3.5% in the first quarter. US Bancorp DE now owns 3,603 shares of the software maker’s stock valued at $352,000 after buying an additional 123 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in Synaptics by 0.3% during the 1st quarter. Russell Investments Group Ltd. now owns 48,665 shares of the software maker’s stock worth $4,748,000 after buying an additional 163 shares during the last quarter. Choreo LLC lifted its holdings in Synaptics by 3.9% during the 2nd 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, State of Michigan Retirement System boosted its position in shares of Synaptics by 2.1% during the 1st quarter. State of Michigan Retirement System now owns 9,633 shares of the software maker’s stock worth $940,000 after acquiring an additional 200 shares in the last quarter. 99.43% of the stock is currently owned by institutional investors and hedge funds.

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.