Synaptics (NASDAQ:SYNA) Sets New 1-Year Low at $70.23

Shares of Synaptics Incorporated (NASDAQ:SYNA) reached a new 52-week low on Monday . The company traded as low as $70.23 and last traded at $72.41, with a volume of 21973 shares. The stock had previously closed at $75.12.

Analyst Upgrades and Downgrades

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

Synaptics Trading Down 3.6 %

The company has a debt-to-equity ratio of 0.78, a current ratio of 5.32 and a quick ratio of 4.78. The company has a market capitalization of $2.86 billion, a P/E ratio of -26.24 and a beta of 1.47. The firm has a fifty day moving average price of $89.97 and a 200-day moving average price of $95.44.

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

Institutional Trading of Synaptics

Several hedge funds and other institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. raised its position in shares of Synaptics by 1,255.2% during the 4th quarter. Victory Capital Management Inc. now owns 394,383 shares of the software maker’s stock valued at $44,991,000 after buying an additional 365,282 shares in the last quarter. Norges Bank bought a new position in shares of Synaptics in the fourth quarter worth approximately $40,261,000. Bank of New York Mellon Corp grew its holdings in Synaptics by 18.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,259,106 shares of the software maker’s stock worth $111,053,000 after acquiring an additional 193,182 shares during the last quarter. Westfield Capital Management Co. LP bought a new stake in shares of Synaptics in the first quarter worth about $13,065,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Synaptics by 34.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 390,251 shares of the software maker’s stock valued at $44,520,000 after acquiring an additional 100,150 shares in the last quarter. 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.