Synaptics (NASDAQ:SYNA) Trading Up 7.6% – Still a Buy?

Synaptics Incorporated (NASDAQ:SYNA) shares were up 7.6% during mid-day trading on Wednesday . The stock traded as high as $87.30 and last traded at $86.63. Approximately 120,142 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 491,080 shares. The stock had previously closed at $80.53.

Analyst Ratings Changes

A number of research analysts have issued reports on SYNA shares. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 target price on shares of Synaptics in a research report on Wednesday. TD Cowen upped their price objective on Synaptics from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Rosenblatt Securities cut their target price on shares of Synaptics from $130.00 to $92.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Craig Hallum upgraded shares of Synaptics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Finally, Susquehanna boosted their price objective on shares of Synaptics from $95.00 to $105.00 and gave the stock a “positive” rating in a research note on Wednesday, January 22nd. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Synaptics presently has an average rating of “Moderate Buy” and a consensus price target of $98.44.

Synaptics Stock Performance

The company has a current ratio of 4.49, a quick ratio of 4.02 and a debt-to-equity ratio of 0.66. The company has a 50-day moving average price of $79.90 and a two-hundred day moving average price of $77.85. The stock has a market capitalization of $3.45 billion, a P/E ratio of 21.81 and a beta of 1.44.

Insiders Place Their Bets

In related news, insider Vikram Gupta sold 411 shares of Synaptics stock in a transaction 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 completion of the sale, the insider now owns 40,795 shares of the company’s stock, valued at approximately $3,330,095.85. This trade represents a 1.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. lifted its position in Synaptics by 5.8% in the 3rd quarter. Victory Capital Management Inc. now owns 577,523 shares of the software maker’s stock valued at $44,804,000 after acquiring an additional 31,565 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Synaptics by 4.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 447,881 shares of the software maker’s stock valued at $34,747,000 after purchasing an additional 17,119 shares in the last quarter. Emerald Advisers LLC boosted its position in shares of 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 buying an additional 5,004 shares during 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 worth $14,896,000 after buying an additional 14,181 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in Synaptics by 2.1% during the fourth quarter. Rhumbline Advisers now owns 134,478 shares of the software maker’s stock worth $10,263,000 after buying an additional 2,752 shares in the last quarter. 99.43% of the stock is currently owned by institutional investors and hedge funds.

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.