Needham & Company LLC Reaffirms Buy Rating for Synaptics (NASDAQ:SYNA)

Synaptics (NASDAQ:SYNA)‘s stock had its “buy” rating reiterated by research analysts at Needham & Company LLC in a research report issued on Wednesday,Benzinga reports. They presently have a $90.00 target price on the software maker’s stock. Needham & Company LLC’s price target indicates a potential upside of 11.76% from the company’s current price.

Other analysts also recently issued reports about the stock. TD Cowen increased their price objective on shares of Synaptics from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Susquehanna raised their price target on shares of Synaptics from $95.00 to $105.00 and gave the company a “positive” rating in a research report on Wednesday, January 22nd. Rosenblatt Securities reduced their target price on Synaptics from $130.00 to $92.00 and set a “buy” rating for the company in a report on Friday, November 8th. Finally, KeyCorp downgraded Synaptics from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $98.44.

Synaptics Trading Down 1.3 %

Synaptics stock opened at $80.53 on Wednesday. Synaptics has a 12 month low of $67.83 and a 12 month high of $115.85. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of 20.39 and a beta of 1.44. The business’s fifty day simple moving average is $79.37 and its two-hundred day simple moving average is $77.72. The company has a current ratio of 4.49, a quick ratio of 4.02 and a debt-to-equity ratio of 0.66.

Insiders Place Their Bets

In other news, insider Vikram Gupta sold 411 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $81.63, for a total value of $33,549.93. Following the transaction, the insider now owns 40,795 shares in the company, valued at $3,330,095.85. This represents a 1.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.30% of the company’s stock.

Institutional Trading of Synaptics

Several large investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. boosted its stake in shares of Synaptics by 5.8% during the 3rd quarter. Victory Capital Management Inc. now owns 577,523 shares of the software maker’s stock worth $44,804,000 after acquiring an additional 31,565 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Synaptics by 4.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 447,881 shares of the software maker’s stock worth $34,747,000 after purchasing an additional 17,119 shares during the period. Emerald Advisers LLC lifted its position in Synaptics by 2.5% during the third quarter. Emerald Advisers LLC now owns 207,287 shares of the software maker’s stock valued at $16,081,000 after purchasing an additional 5,004 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. grew its holdings in Synaptics by 8.0% during the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 192,003 shares of the software maker’s stock valued at $14,896,000 after purchasing an additional 14,181 shares during the period. Finally, Barclays PLC increased its position in Synaptics by 189.7% in the third quarter. Barclays PLC now owns 81,330 shares of the software maker’s stock worth $6,309,000 after buying an additional 53,252 shares in the last quarter. 99.43% of the stock is currently owned by 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.