Synaptics (NASDAQ:SYNA) Stock Price Down 7.7%

Synaptics Incorporated (NASDAQ:SYNA)’s stock price traded down 7.7% during mid-day trading on Friday . The stock traded as low as $74.67 and last traded at $75.12. 172,117 shares changed hands during mid-day trading, a decline of 39% from the average session volume of 283,639 shares. The stock had previously closed at $81.42.

Analysts Set New Price Targets

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

Synaptics Trading Down 8.7 %

The company has a current ratio of 5.32, a quick ratio of 4.78 and a debt-to-equity ratio of 0.78. The firm’s 50-day moving average is $90.28 and its 200-day moving average is $95.74. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of -27.65 and a beta of 1.47.

Synaptics (NASDAQ:SYNA) last released its earnings results on Thursday, May 9th. The software maker reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. The business had revenue of $237.30 million during the quarter, compared to the consensus estimate of $235.17 million. Synaptics had a negative return on equity of 0.90% and a negative net margin of 11.30%. The business’s revenue for the quarter was down 27.3% on a year-over-year basis. During the same period last year, the business posted $1.14 earnings per share. As a group, sell-side analysts anticipate that Synaptics Incorporated will post -0.36 EPS for the current fiscal year.

Institutional Trading of Synaptics

A number of institutional investors and hedge funds have recently modified their holdings of SYNA. CWM LLC lifted its holdings in shares of Synaptics by 26.0% in the first quarter. CWM LLC now owns 673 shares of the software maker’s stock worth $66,000 after buying an additional 139 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Synaptics during the second quarter valued at approximately $67,000. Register Financial Advisors LLC purchased a new stake in shares of Synaptics during the first quarter valued at about $76,000. Innealta Capital LLC purchased a new position in Synaptics during the 2nd quarter worth $83,000. Finally, nVerses Capital LLC acquired a new position in Synaptics during the 2nd quarter valued at approximately $141,000. 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.