Synaptics (NASDAQ:SYNA) Hits New 1-Year Low – Here’s What Happened

Synaptics Incorporated (NASDAQ:SYNA) shares hit a new 52-week low during trading on Thursday . The stock traded as low as $66.76 and last traded at $67.40, with a volume of 66469 shares traded. The stock had previously closed at $68.03.

Analyst Ratings Changes

SYNA has been the topic of several recent research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 target price on shares of Synaptics in a report on Tuesday, February 4th. Craig Hallum raised shares of Synaptics from a “hold” rating to a “strong-buy” rating in a research note 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. Rosenblatt Securities reissued a “buy” rating and issued a $105.00 price objective on shares of Synaptics in a research note on Thursday. Finally, TD Cowen lifted their price objective on shares of Synaptics from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $96.88.

Synaptics Trading Up 1.3 %

The business’s 50 day simple moving average is $77.09 and its two-hundred day simple moving average is $76.22. The stock has a market cap of $2.59 billion, a P/E ratio of 15.64 and a beta of 1.45. The company has a quick ratio of 3.36, a current ratio of 3.88 and a debt-to-equity ratio of 0.60.

Insiders Place Their Bets

In other Synaptics news, insider Ken Rizvi purchased 3,600 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were bought at an average price of $69.15 per share, for a total transaction of $248,940.00. Following the completion of the acquisition, the insider now owns 27,630 shares in the company, valued at approximately $1,910,614.50. This trade represents a 14.98 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Vikram Gupta sold 411 shares of Synaptics 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 transaction, the insider now owns 40,795 shares in the company, valued at approximately $3,330,095.85. This trade represents a 1.00 % decrease in their position. 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 hedge funds have recently modified their holdings of the business. Ameriprise Financial Inc. lifted its holdings in shares of Synaptics by 1.0% during the fourth quarter. Ameriprise Financial Inc. now owns 4,979,894 shares of the software maker’s stock worth $380,059,000 after purchasing an additional 51,498 shares during the period. Vanguard Group Inc. lifted its holdings in Synaptics by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 4,907,880 shares of the software maker’s stock valued at $374,569,000 after buying an additional 93,155 shares during the period. Toronto Dominion Bank acquired a new position in Synaptics in the fourth quarter valued at $152,895,000. FMR LLC lifted its holdings in Synaptics by 0.9% in the fourth quarter. FMR LLC now owns 1,891,227 shares of the software maker’s stock valued at $144,338,000 after buying an additional 16,337 shares during the period. Finally, Trigran Investments Inc. lifted its holdings in Synaptics by 5.9% in the fourth quarter. Trigran Investments Inc. now owns 1,072,222 shares of the software maker’s stock valued at $81,832,000 after buying an additional 59,647 shares during the period. 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.