Synaptics (NASDAQ:SYNA) Given “Buy” Rating at Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of Synaptics (NASDAQ:SYNA) in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a $92.00 target price on the software maker’s stock.

A number of other brokerages have also issued reports on SYNA. TD Cowen raised their price target on Synaptics from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price target on shares of Synaptics in a report on Wednesday, January 29th. Susquehanna lifted their price objective on shares of Synaptics from $95.00 to $105.00 and gave the company a “positive” rating in a research note on Wednesday, January 22nd. Craig Hallum upgraded Synaptics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 29th. Finally, KeyCorp downgraded shares of Synaptics from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Synaptics has a consensus rating of “Moderate Buy” and a consensus target price of $98.44.

Synaptics Price Performance

Synaptics stock opened at $74.34 on Tuesday. Synaptics has a 12-month low of $67.83 and a 12-month high of $115.85. The firm’s 50-day moving average is $80.03 and its two-hundred day moving average is $77.40. The stock has a market capitalization of $2.98 billion, a P/E ratio of 18.82 and a beta of 1.45. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.49 and a quick ratio of 4.02.

Insider Activity

In related news, insider Vikram Gupta sold 411 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $81.63, for a total value of $33,549.93. Following the sale, the insider now owns 40,795 shares of the company’s stock, valued at $3,330,095.85. This trade represents a 1.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Synaptics

Large investors have recently made changes to their positions in the company. SG Americas Securities LLC grew its holdings in Synaptics by 269.9% in the 3rd quarter. SG Americas Securities LLC now owns 12,251 shares of the software maker’s stock worth $950,000 after buying an additional 8,939 shares in the last quarter. Handelsbanken Fonder AB grew its stake in shares of Synaptics by 48.6% in the third quarter. Handelsbanken Fonder AB now owns 12,537 shares of the software maker’s stock worth $973,000 after purchasing an additional 4,100 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Synaptics by 261.8% during the third quarter. GAMMA Investing LLC now owns 369 shares of the software maker’s stock valued at $29,000 after purchasing an additional 267 shares during the period. Diversified Trust Co raised its stake in shares of Synaptics by 6.7% during the third quarter. Diversified Trust Co now owns 3,997 shares of the software maker’s stock valued at $310,000 after purchasing an additional 251 shares in the last quarter. Finally, CWM LLC raised its stake in shares of Synaptics by 58.1% during the third quarter. CWM LLC now owns 1,151 shares of the software maker’s stock valued at $89,000 after purchasing an additional 423 shares in the last quarter. Institutional investors and hedge funds 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.