Synaptics Incorporated (NASDAQ:SYNA) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Synaptics Incorporated (NASDAQ:SYNA) have received an average rating of “Moderate Buy” from the nine research firms that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $97.33.

Several research firms recently weighed in on SYNA. Rosenblatt Securities reduced their price target on shares of Synaptics from $130.00 to $92.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Needham & Company LLC cut their price objective on shares of Synaptics from $95.00 to $90.00 and set a “buy” rating for the company in a report on Friday, November 8th. Craig Hallum cut their price objective on shares of Synaptics from $105.00 to $80.00 and set a “hold” rating for the company in a report on Friday, August 9th. JPMorgan Chase & Co. cut their price objective on shares of Synaptics from $120.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Finally, Susquehanna cut their price objective on shares of Synaptics from $110.00 to $95.00 and set a “positive” rating for the company in a report on Monday, October 21st.

Synaptics Stock Down 0.2 %

SYNA opened at $72.55 on Thursday. Synaptics has a twelve month low of $67.83 and a twelve month high of $121.37. The company has a quick ratio of 4.02, a current ratio of 4.49 and a debt-to-equity ratio of 0.66. The company has a 50-day moving average price of $73.99 and a 200 day moving average price of $81.68. The company has a market cap of $2.91 billion, a PE ratio of 18.37 and a beta of 1.47.

Insider Activity

In related news, insider Vikram Gupta sold 1,008 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $80.00, for a total transaction of $80,640.00. Following the completion of the transaction, the insider now owns 45,789 shares of the company’s stock, valued at approximately $3,663,120. This trade represents a 2.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 5,609 shares of company stock valued at $448,720 in the last 90 days. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Synaptics

Hedge funds have recently made changes to their positions in the stock. CANADA LIFE ASSURANCE Co boosted its position in shares of Synaptics by 27.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 28,815 shares of the software maker’s stock worth $2,807,000 after purchasing an additional 6,276 shares during the period. Point72 Asset Management L.P. boosted its position in shares of Synaptics by 15,571.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 814,912 shares of the software maker’s stock worth $71,875,000 after purchasing an additional 809,712 shares during the period. Emerald Mutual Fund Advisers Trust lifted its holdings in Synaptics by 88.7% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 160,993 shares of the software maker’s stock worth $14,200,000 after buying an additional 75,680 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in Synaptics during the 2nd quarter worth approximately $941,000. Finally, Intech Investment Management LLC acquired a new stake in Synaptics during the 2nd quarter worth approximately $1,923,000. Hedge funds and other institutional investors own 99.43% of the company’s stock.

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.