Synaptics Incorporated (NASDAQ:SYNA) Lowered to Sell at BidaskClub

BidaskClub cut shares of Synaptics Incorporated (NASDAQ:SYNA) from a hold rating to a sell rating in a report published on Monday, July 24th.

Other equities research analysts also recently issued research reports about the company. Oppenheimer Holdings, Inc. reiterated an underperform rating and set a $45.00 price target (down previously from $48.00) on shares of Synaptics in a report on Monday, July 17th. Vetr downgraded Synaptics from a hold rating to a sell rating and set a $57.50 price target for the company. in a report on Wednesday, June 7th. BMO Capital Markets restated a hold rating and issued a $56.00 price objective on shares of Synaptics in a research note on Thursday, July 20th. Craig Hallum reduced their price objective on Synaptics from $65.00 to $62.00 and set a hold rating for the company in a research note on Friday, April 28th. Finally, Zacks Investment Research downgraded Synaptics from a buy rating to a hold rating in a research note on Thursday, March 30th. Seven research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $57.43.

Synaptics (NASDAQ:SYNA) opened at 40.36 on Monday. The company has a market capitalization of $1.40 billion, a PE ratio of 29.46 and a beta of 1.13. The stock’s 50 day moving average is $49.64 and its 200 day moving average is $52.91. Synaptics has a 52 week low of $39.89 and a 52 week high of $69.45.

Synaptics (NASDAQ:SYNA) last announced its quarterly earnings results on Thursday, August 3rd. The software maker reported $0.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.11. Synaptics had a return on equity of 16.51% and a net margin of 2.84%. The business had revenue of $426.50 million during the quarter, compared to the consensus estimate of $426.49 million. During the same quarter in the prior year, the company posted $0.46 earnings per share. Synaptics’s revenue was up 31.7% compared to the same quarter last year. Analysts predict that Synaptics will post $4.60 EPS for the current fiscal year.

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In related news, Director Jeffrey D. Buchanan sold 9,375 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $55.92, for a total transaction of $524,250.00. Following the transaction, the director now directly owns 16,166 shares in the company, valued at approximately $904,002.72. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Rick Bergman sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $55.61, for a total value of $556,100.00. The disclosure for this sale can be found here. Company insiders own 3.60% of the company’s stock.

Large investors have recently modified their holdings of the company. Highlander Capital Management LLC acquired a new stake in shares of Synaptics during the second quarter worth $104,000. TrimTabs Asset Management LLC raised its stake in shares of Synaptics by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 2,073 shares of the software maker’s stock worth $103,000 after buying an additional 976 shares in the last quarter. Harbour Capital Advisors LLC acquired a new stake in shares of Synaptics during the first quarter worth $104,000. Edge Wealth Management LLC raised its stake in shares of Synaptics by 1,451.0% in the first quarter. Edge Wealth Management LLC now owns 2,218 shares of the software maker’s stock worth $110,000 after buying an additional 2,075 shares in the last quarter. Finally, Riverhead Capital Management LLC raised its stake in shares of Synaptics by 95.0% in the second quarter. Riverhead Capital Management LLC now owns 2,730 shares of the software maker’s stock worth $141,000 after buying an additional 1,330 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Synaptics Company Profile

Synaptics Incorporated is engaged in the development, marketing and sale of intuitive human interface solutions for electronic devices and products. The Company is a developer and supplier of custom-designed human interface product solutions that enable people to interact with a range of mobile computing, communications, entertainment and other electronic devices.

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