Synaptics (NASDAQ:SYNA) Hits New 52-Week Low – Time to Sell?

Synaptics Incorporated (NASDAQ:SYNA) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $67.64 and last traded at $67.71, with a volume of 313100 shares. The stock had previously closed at $69.45.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 target price on shares of Synaptics in a research note on Tuesday, February 4th. TD Cowen upped their target price on shares of Synaptics from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Craig Hallum upgraded shares of Synaptics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 29th. Rosenblatt Securities reiterated a “buy” rating and issued a $92.00 target price on shares of Synaptics in a research note on Tuesday, February 4th. Finally, Susquehanna boosted their price objective on shares of Synaptics from $95.00 to $105.00 and gave the company a “positive” rating in a report on Wednesday, January 22nd. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $95.25.

Synaptics Trading Down 1.4 %

The firm has a market cap of $2.74 billion, a PE ratio of 16.13 and a beta of 1.45. The company has a quick ratio of 4.02, a current ratio of 4.49 and a debt-to-equity ratio of 0.66. The company’s 50 day moving average price is $79.49 and its two-hundred day moving average price is $76.92.

Insider Activity

In related news, insider Vikram Gupta sold 411 shares of the firm’s 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 transaction, the insider now owns 40,795 shares of the company’s stock, valued at $3,330,095.85. This trade represents a 1.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its position in Synaptics by 261.8% during the 3rd quarter. GAMMA Investing LLC now owns 369 shares of the software maker’s stock valued at $29,000 after purchasing an additional 267 shares during the period. Quarry LP purchased a new position in Synaptics during the 3rd quarter valued at 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. KBC Group NV increased its position in Synaptics by 87.4% during the 4th quarter. KBC Group NV now owns 1,795 shares of the software maker’s stock valued at $137,000 after purchasing an additional 837 shares during the period. Finally, Van ECK Associates Corp purchased a new position in Synaptics during the 3rd quarter valued at about $132,000. 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.