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

Synaptics (NASDAQ:SYNA)‘s stock had its “buy” rating reaffirmed by equities research analysts at Needham & Company LLC in a research report issued on Tuesday,Benzinga reports. They presently have a $90.00 target price on the software maker’s stock. Needham & Company LLC’s price target would suggest a potential upside of 5.82% from the stock’s previous close.

Several other research firms also recently issued reports on SYNA. Craig Hallum upgraded shares of Synaptics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 29th. Susquehanna boosted their price target on Synaptics from $95.00 to $105.00 and gave the company a “positive” rating in a research note on Wednesday, January 22nd. Rosenblatt Securities reissued a “buy” rating and set a $92.00 price objective on shares of Synaptics in a report on Tuesday. TD Cowen raised their target price on Synaptics from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, KeyCorp cut shares of Synaptics from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Synaptics presently has an average rating of “Moderate Buy” and an average target price of $98.44.

Synaptics Stock Up 0.2 %

SYNA opened at $85.05 on Tuesday. The business has a 50 day moving average of $80.14 and a 200-day moving average of $77.50. The stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of 21.53 and a beta of 1.45. The company has a current ratio of 4.49, a quick ratio of 4.02 and a debt-to-equity ratio of 0.66. Synaptics has a 1-year low of $67.83 and a 1-year high of $115.85.

Insiders Place Their Bets

In other news, insider Vikram Gupta sold 411 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $81.63, for a total transaction of $33,549.93. Following the completion of the sale, the insider now owns 40,795 shares in the company, valued at $3,330,095.85. The trade was a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its holdings in Synaptics by 261.8% in the third quarter. GAMMA Investing LLC now owns 369 shares of the software maker’s stock valued at $29,000 after buying an additional 267 shares during the period. Quarry LP bought a new position in shares of Synaptics in the 3rd quarter worth $31,000. CWM LLC lifted its stake in Synaptics by 58.1% in the third quarter. CWM LLC now owns 1,151 shares of the software maker’s stock valued at $89,000 after buying an additional 423 shares during the period. KBC Group NV boosted its holdings in Synaptics by 87.4% during the fourth quarter. KBC Group NV now owns 1,795 shares of the software maker’s stock worth $137,000 after buying an additional 837 shares during the last quarter. Finally, Van ECK Associates Corp acquired a new position in shares of Synaptics during the 3rd quarter worth about $132,000. 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.