Synaptics (NASDAQ:SYNA) Trading Up 0.2%

Synaptics Incorporated (NASDAQ:SYNA)’s stock price traded up 0.2% during mid-day trading on Monday . The company traded as high as $90.58 and last traded at $88.84. 17,584 shares traded hands during trading, a decline of 94% from the average session volume of 282,181 shares. The stock had previously closed at $88.62.

Analyst Ratings Changes

Several research analysts recently commented on the stock. KeyCorp cut their price target on shares of Synaptics from $135.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, May 10th. TD Cowen cut their target price on shares of Synaptics from $135.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Wells Fargo & Company reduced their target price on shares of Synaptics from $115.00 to $95.00 and set an “equal weight” rating on the stock in a report on Friday, May 10th. Finally, Needham & Company LLC lowered their price target on Synaptics from $125.00 to $110.00 and set a “buy” rating for the company in a report on Friday, May 10th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $117.67.

Synaptics Stock Performance

The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of -31.67 and a beta of 1.47. The company has a debt-to-equity ratio of 0.78, a quick ratio of 4.78 and a current ratio of 5.32. The stock’s fifty day moving average is $90.54 and its two-hundred day moving average is $95.90.

Synaptics (NASDAQ:SYNA) last posted its quarterly earnings data on Thursday, May 9th. The software maker reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. Synaptics had a negative net margin of 11.30% and a negative return on equity of 0.90%. The company had revenue of $237.30 million during the quarter, compared to analysts’ expectations of $235.17 million. During the same period in the prior year, the company posted $1.14 EPS. The firm’s revenue for the quarter was down 27.3% on a year-over-year basis. Analysts forecast that Synaptics Incorporated will post -0.36 earnings per share for the current year.

Institutional Investors Weigh In On Synaptics

Hedge funds have recently bought and sold shares of the business. CWM LLC boosted its stake in shares of Synaptics by 26.0% during the 1st quarter. CWM LLC now owns 673 shares of the software maker’s stock valued at $66,000 after buying an additional 139 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in Synaptics during the 2nd quarter valued at $67,000. Register Financial Advisors LLC bought a new position in Synaptics during the 1st quarter valued at $76,000. Innealta Capital LLC acquired a new position in Synaptics during the 2nd quarter worth $83,000. Finally, Truist Financial Corp bought a new stake in shares of Synaptics in the 4th quarter worth about $212,000. Institutional investors and hedge funds 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.