Synaptics (NASDAQ:SYNA) Stock Price Expected to Rise, Rosenblatt Securities Analyst Says

by · The Markets Daily

Synaptics (NASDAQ:SYNA – Get Free Report) had its price objective boosted by equities research analysts at Rosenblatt Securities from $115.00 to $123.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the software maker’s stock. Rosenblatt Securities’ price objective suggests a potential upside of 15.87% from the stock’s current price.

A number of other equities analysts have also commented on SYNA. Needham & Company LLC lowered Synaptics from a “buy” rating to a “hold” rating in a report on Friday, June 26th. Zacks Research upgraded Synaptics from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 17th. Mizuho raised their target price on Synaptics from $128.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Barclays reaffirmed an “equal weight” rating and set a $135.00 target price (up from $110.00) on shares of Synaptics in a report on Friday, June 26th. Finally, Susquehanna decreased their price target on Synaptics from $140.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Synaptics has a consensus rating of “Hold” and a consensus price target of $123.09.

Check Out Our Latest Stock Report on SYNA

Synaptics Stock Performance

NASDAQ:SYNA opened at $106.15 on Friday. The company has a market capitalization of $4.21 billion, a P/E ratio of -8.39 and a beta of 1.96. The business has a fifty day simple moving average of $100.78 and a two-hundred day simple moving average of $106.47. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.12 and a quick ratio of 0.90. Synaptics has a 1 year low of $58.28 and a 1 year high of $149.11.

Synaptics (NASDAQ:SYNA – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The software maker reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.02. Synaptics had a positive return on equity of 4.37% and a negative net margin of 41.00%.The company had revenue of $308.00 million during the quarter, compared to the consensus estimate of $305.32 million. During the same quarter in the prior year, the company earned $1.01 EPS. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, analysts expect that Synaptics will post 1.98 earnings per share for the current year.

Insider Buying and Selling

In other Synaptics news, insider Esther Song sold 437 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $103.68, for a total value of $45,308.16. Following the completion of the sale, the insider owned 14,683 shares of the company’s stock, valued at $1,522,333.44. This represents a 2.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Lisa Bodensteiner sold 334 shares of Synaptics stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $92.63, for a total value of $30,938.42. Following the completion of the transaction, the insider owned 77,518 shares in the company, valued at approximately $7,180,492.34. This represents a 0.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 15,951 shares of company stock worth $1,612,862 in the last quarter. 0.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Synaptics

Large investors have recently added to or reduced their stakes in the company. ABS Investment Management LLC bought a new stake in shares of Synaptics in the second quarter worth about $310,575,000. CoreCap Advisors LLC bought a new position in Synaptics in the second quarter worth about $25,000. Allworth Financial LP purchased a new position in shares of Synaptics during the 2nd quarter worth approximately $33,000. Global Retirement Partners LLC bought a new stake in shares of Synaptics during the second quarter valued at approximately $61,000. Finally, State of Wyoming purchased a new position in Synaptics during the second quarter valued at $65,000. Institutional investors own 99.43% of the company’s stock.

About Synaptics

(Get Free Report)

Synaptics Incorporated (NASDAQ: SYNA) is a fabless semiconductor company that develops technologies enabling people to interact with digital devices. Its products combine sensing, processing, connectivity and artificial intelligence capabilities for consumer electronics, automotive systems and Internet of Things applications.

The company’s portfolio includes touch and display controllers, touchpads, fingerprint sensors, audio and voice-processing solutions, wireless connectivity products, and video and vision processors.

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