Synaptics (NASDAQ:SYNA) Price Target Cut to $80.00 by Analysts at Craig Hallum

Synaptics (NASDAQ:SYNA) had its price target lowered by Craig Hallum from $105.00 to $80.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a hold rating on the software maker’s stock.

Other equities research analysts have also issued reports about the stock. Needham & Company LLC reduced their price objective on shares of Synaptics from $110.00 to $95.00 and set a buy rating on the stock in a report on Friday. TD Cowen reduced their price target on shares of Synaptics from $115.00 to $90.00 and set a buy rating for the company in a research report on Friday. KeyCorp reduced their price target on shares of Synaptics from $115.00 to $100.00 and set an overweight rating for the company in a research report on Friday. Finally, Wells Fargo & Company reduced their price target on shares of 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 issued a buy rating to the company. According to MarketBeat.com, Synaptics currently has a consensus rating of Moderate Buy and an average price target of $108.78.

Synaptics Stock Up 0.5 %

Synaptics stock traded up $0.38 during mid-day trading on Friday, reaching $72.71. 703,941 shares of the company’s stock were exchanged, compared to its average volume of 298,247. The company has a market cap of $2.87 billion, a P/E ratio of -26.83 and a beta of 1.47. Synaptics has a twelve month low of $67.83 and a twelve month high of $121.37. The company has a quick ratio of 4.78, a current ratio of 5.32 and a debt-to-equity ratio of 0.78. The company has a fifty day moving average of $87.86 and a 200-day moving average of $94.19.

Synaptics (NASDAQ:SYNA) last announced its quarterly earnings data on Thursday, August 8th. The software maker reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.09. Synaptics had a negative net margin of 11.30% and a negative return on equity of 0.90%. The business had revenue of $247.40 million for the quarter, compared to analyst estimates of $245.17 million. During the same period last year, the business earned $0.01 EPS. The company’s revenue was up 8.8% on a year-over-year basis. Sell-side analysts expect that Synaptics will post -0.36 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SYNA. Raymond James & Associates grew its position in Synaptics by 57.6% during the fourth quarter. Raymond James & Associates now owns 13,942 shares of the software maker’s stock worth $1,591,000 after buying an additional 5,093 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Synaptics in the fourth quarter valued at about $234,000. Louisiana State Employees Retirement System purchased a new stake in shares of Synaptics in the fourth quarter valued at about $1,255,000. Phocas Financial Corp. purchased a new stake in shares of Synaptics in the fourth quarter valued at about $3,558,000. Finally, Handelsbanken Fonder AB lifted its holdings in shares of Synaptics by 21.9% in the fourth quarter. Handelsbanken Fonder AB now owns 7,237 shares of the software maker’s stock valued at $826,000 after purchasing an additional 1,300 shares in the last quarter. 99.43% of the stock is currently owned by institutional investors and hedge funds.

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.