Synaptics (NASDAQ:SYNA) Price Target Cut to $95.00 by Analysts at Needham & Company LLC

Synaptics (NASDAQ:SYNA) had its target price lowered by Needham & Company LLC from $110.00 to $95.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a buy rating on the software maker’s stock.

Several other research analysts also recently weighed in on SYNA. 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 decreased their price objective on Synaptics from $135.00 to $115.00 and set an overweight rating on the stock in a research note on Friday, May 10th. Finally, Wells Fargo & Company cut their target price on shares of Synaptics from $115.00 to $95.00 and set an equal weight rating for the company in a research note on Friday, May 10th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $105.44.

Synaptics Stock Down 1.7 %

Shares of SYNA opened at $71.51 on Friday. Synaptics has a 1 year low of $67.83 and a 1 year high of $121.37. The stock has a market capitalization of $2.82 billion, a PE ratio of -26.39 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 company’s 50-day simple moving average is $87.40 and its 200-day simple moving average is $93.80.

Synaptics (NASDAQ:SYNA) last released its quarterly earnings data on Thursday, August 8th. The software maker reported $0.64 earnings per share for the quarter, topping 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 company had revenue of $247.40 million for the quarter, compared to analysts’ expectations of $245.17 million. During the same quarter last year, the company earned $0.01 earnings per share. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. Analysts forecast that Synaptics will post -0.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Synaptics

Several institutional investors and hedge funds have recently modified their holdings of SYNA. Wellington Management Group LLP grew its holdings in Synaptics by 3.4% during the 4th quarter. Wellington Management Group LLP now owns 1,373,759 shares of the software maker’s stock worth $156,718,000 after acquiring an additional 44,548 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Synaptics by 18.1% in the second quarter. Bank of New York Mellon Corp now owns 1,259,106 shares of the software maker’s stock worth $111,053,000 after purchasing an additional 193,182 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Synaptics by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 907,347 shares of the software maker’s stock valued at $80,027,000 after buying an additional 31,643 shares during the last quarter. Victory Capital Management Inc. raised its stake in Synaptics by 39.1% during the second quarter. Victory Capital Management Inc. now owns 545,958 shares of the software maker’s stock valued at $48,153,000 after buying an additional 153,434 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in 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 buying an additional 100,150 shares in the last quarter. 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.