Synaptics (NASDAQ:SYNA) Price Target Lowered to $90.00 at Needham & Company LLC

Synaptics (NASDAQ:SYNA) had its price target trimmed by Needham & Company LLC from $95.00 to $90.00 in a report issued on Friday,Benzinga reports. The firm currently has a buy rating on the software maker’s stock.

A number of other equities analysts also recently commented on SYNA. Rosenblatt Securities restated a “buy” rating and issued a $130.00 target price on shares of Synaptics in a research note on Thursday, October 31st. KeyCorp downgraded shares of Synaptics from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Craig Hallum dropped their target price on shares of Synaptics from $105.00 to $80.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. dropped their target price on shares of Synaptics from $120.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Finally, TD Cowen upped their target price on shares of Synaptics from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $97.33.

Synaptics Stock Performance

Shares of NASDAQ:SYNA opened at $78.64 on Friday. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of 19.91 and a beta of 1.47. Synaptics has a 12 month low of $67.83 and a 12 month high of $121.37. The firm’s 50-day moving average is $73.74 and its 200 day moving average is $82.36. The company has a current ratio of 4.19, a quick ratio of 3.78 and a debt-to-equity ratio of 0.66.

Insider Transactions at Synaptics

In related news, insider Vikram Gupta sold 1,008 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $80.00, for a total transaction of $80,640.00. Following the completion of the sale, the insider now owns 45,789 shares of the company’s stock, valued at $3,663,120. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last quarter, insiders sold 5,609 shares of company stock valued at $448,720. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Synaptics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quantbot Technologies LP purchased a new stake in Synaptics during the first quarter valued at approximately $586,000. CANADA LIFE ASSURANCE Co raised its holdings in shares of Synaptics by 27.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 28,815 shares of the software maker’s stock worth $2,807,000 after buying an additional 6,276 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in shares of Synaptics by 15,571.4% in the second quarter. Point72 Asset Management L.P. now owns 814,912 shares of the software maker’s stock worth $71,875,000 after buying an additional 809,712 shares during the last quarter. Emerald Mutual Fund Advisers Trust raised its holdings in shares of Synaptics by 88.7% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 160,993 shares of the software maker’s stock worth $14,200,000 after buying an additional 75,680 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in shares of Synaptics in the second quarter worth $941,000. Hedge funds and other institutional investors own 99.43% of the company’s stock.

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.