Synaptics (NASDAQ:SYNA) Price Target Lowered to $80.00 at Mizuho

Synaptics (NASDAQ:SYNA) had its price objective cut by Mizuho from $90.00 to $80.00 in a research report report published on Monday,Benzinga reports. They currently have an outperform rating on the software maker’s stock.

Other equities analysts have also issued reports about the company. Needham & Company LLC reissued a “buy” rating and issued a $90.00 price target on shares of Synaptics in a research note on Tuesday, February 4th. Craig Hallum upgraded Synaptics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 29th. Rosenblatt Securities restated a “buy” rating and issued a $105.00 target price on shares of Synaptics in a report on Thursday, February 27th. Finally, Susquehanna raised their price objective on Synaptics from $95.00 to $105.00 and gave the company a “positive” rating in a research note on Wednesday, January 22nd. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Synaptics has an average rating of “Moderate Buy” and an average price target of $95.00.

Synaptics Stock Performance

Shares of Synaptics stock opened at $64.35 on Monday. The company has a market cap of $2.52 billion, a P/E ratio of 15.21 and a beta of 1.55. The company has a current ratio of 3.88, a quick ratio of 3.36 and a debt-to-equity ratio of 0.60. The business has a 50-day moving average price of $71.99 and a two-hundred day moving average price of $74.56. Synaptics has a 1-year low of $60.75 and a 1-year high of $99.99.

Insider Transactions at Synaptics

In other Synaptics news, insider Ken Rizvi purchased 3,600 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was bought at an average cost of $69.15 per share, with a total value of $248,940.00. Following the transaction, the insider now directly owns 27,630 shares in the company, valued at approximately $1,910,614.50. The trade was a 14.98 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Synaptics

Several large investors have recently modified their holdings of the stock. Wellington Management Group LLP lifted its holdings in Synaptics by 20.7% in the fourth quarter. Wellington Management Group LLP now owns 556,643 shares of the software maker’s stock valued at $42,483,000 after acquiring an additional 95,432 shares during the period. Menard Financial Group LLC purchased a new position in Synaptics during the fourth quarter valued at approximately $37,000. Jefferies Financial Group Inc. boosted its holdings in Synaptics by 39.1% in the 4th quarter. Jefferies Financial Group Inc. now owns 4,478 shares of the software maker’s stock worth $342,000 after buying an additional 1,259 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Synaptics by 20.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 85,787 shares of the software maker’s stock worth $6,547,000 after acquiring an additional 14,531 shares during the period. Finally, Squarepoint Ops LLC bought a new position in Synaptics in the 4th quarter worth approximately $1,268,000. Hedge funds and other institutional investors 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.