Synaptics (NASDAQ:SYNA) Given New $95.00 Price Target at Susquehanna

Synaptics (NASDAQ:SYNA) had its price objective lowered by Susquehanna from $110.00 to $95.00 in a research report released on Monday morning, Benzinga reports. Susquehanna currently has a positive rating on the software maker’s stock.

A number of other brokerages have also weighed in on SYNA. TD Cowen decreased their price objective on Synaptics from $115.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, August 9th. KeyCorp lowered shares of Synaptics from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Needham & Company LLC cut their price objective on shares of Synaptics from $110.00 to $95.00 and set a “buy” rating for the company in a report on Friday, August 9th. JPMorgan Chase & Co. lowered their target price on Synaptics from $120.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Finally, Craig Hallum cut their price target on Synaptics from $105.00 to $80.00 and set a “hold” rating for the company in a report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $101.00.

Synaptics Stock Up 0.8 %

SYNA opened at $71.80 on Monday. The company has a market cap of $2.84 billion, a PE ratio of -26.49 and a beta of 1.46. Synaptics has a twelve month low of $67.83 and a twelve month high of $121.37. The company has a 50-day moving average price of $75.17 and a 200 day moving average price of $83.61. The company has a quick ratio of 3.78, a current ratio of 4.19 and a debt-to-equity ratio of 0.66.

Synaptics (NASDAQ:SYNA) last announced its earnings results on Thursday, August 8th. The software maker reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.09. The business had revenue of $247.40 million during the quarter, compared to analysts’ expectations of $245.17 million. Synaptics had a negative return on equity of 0.54% and a net margin of 13.09%. The business’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.01 earnings per share. Sell-side analysts expect that Synaptics will post 0.81 earnings per share for the current fiscal year.

Insider Transactions at Synaptics

In other Synaptics news, insider Vikram Gupta sold 2,731 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $80.00, for a total value of $218,480.00. Following the transaction, the insider now owns 43,245 shares of the company’s stock, valued at $3,459,600. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last ninety days, insiders sold 5,609 shares of company stock worth $448,720. 1.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Synaptics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Point72 Asset Management L.P. raised its position in Synaptics by 15,571.4% in the second quarter. Point72 Asset Management L.P. now owns 814,912 shares of the software maker’s stock valued at $71,875,000 after purchasing an additional 809,712 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of 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 valued at $111,053,000 after buying an additional 193,182 shares during the period. Victory Capital Management Inc. lifted its stake in Synaptics by 39.1% during the 2nd quarter. Victory Capital Management Inc. now owns 545,958 shares of the software maker’s stock worth $48,153,000 after acquiring an additional 153,434 shares in the last quarter. Westfield Capital Management Co. LP purchased a new position in Synaptics during the 1st quarter valued at about $13,065,000. Finally, Emerald Mutual Fund Advisers Trust grew its position in Synaptics by 88.7% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 160,993 shares of the software maker’s stock valued at $14,200,000 after acquiring an additional 75,680 shares in the last quarter. 99.43% of the stock is owned by hedge funds and other institutional investors.

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.