Synaptics’ (SYNA) “Buy” Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Synaptics (NASDAQ:SYNA) in a research note issued to investors on Thursday,Benzinga reports. They currently have a $105.00 target price on the software maker’s stock.

Other equities research analysts have also recently issued reports about the stock. Craig Hallum upgraded shares of Synaptics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 29th. Susquehanna lifted their price objective on Synaptics from $95.00 to $105.00 and gave the company a “positive” rating in a research report on Wednesday, January 22nd. TD Cowen boosted their price target on Synaptics from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price target on shares of Synaptics in a research report on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Synaptics has an average rating of “Moderate Buy” and a consensus price target of $96.88.

Synaptics Stock Down 4.0 %

Shares of SYNA stock opened at $65.30 on Thursday. Synaptics has a 1 year low of $65.11 and a 1 year high of $109.00. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.36 and a current ratio of 3.88. The business’s fifty day moving average is $77.26 and its 200-day moving average is $76.26. The stock has a market cap of $2.56 billion, a PE ratio of 15.44 and a beta of 1.45.

Insiders Place Their Bets

In other Synaptics news, insider Ken Rizvi acquired 3,600 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were acquired at an average cost of $69.15 per share, for a total transaction of $248,940.00. Following the completion of the purchase, the insider now owns 27,630 shares of the company’s stock, valued at approximately $1,910,614.50. This trade represents a 14.98 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Vikram Gupta sold 411 shares of Synaptics stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $81.63, for a total value of $33,549.93. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Synaptics

A number of institutional investors have recently made changes to their positions in the business. Louisiana State Employees Retirement System increased its stake in shares of Synaptics by 1.8% in the fourth quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the software maker’s stock worth $847,000 after purchasing an additional 200 shares during the period. State of Michigan Retirement System increased its stake in Synaptics by 2.1% during the fourth quarter. State of Michigan Retirement System now owns 9,533 shares of the software maker’s stock valued at $728,000 after acquiring an additional 200 shares during the period. Arizona State Retirement System increased its stake in Synaptics by 1.8% during the fourth quarter. Arizona State Retirement System now owns 11,573 shares of the software maker’s stock valued at $883,000 after acquiring an additional 200 shares during the period. Bridge City Capital LLC increased its stake in Synaptics by 0.9% during the fourth quarter. Bridge City Capital LLC now owns 22,511 shares of the software maker’s stock valued at $1,718,000 after acquiring an additional 201 shares during the period. Finally, Inspire Advisors LLC increased its stake in Synaptics by 2.7% during the fourth quarter. Inspire Advisors LLC now owns 8,175 shares of the software maker’s stock valued at $624,000 after acquiring an additional 212 shares during the period. 99.43% of the stock is currently owned by institutional investors.

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.