Synaptics Incorporated (SYNA) Trading Down 0.6% on Analyst Downgrade

Shares of Synaptics Incorporated (NASDAQ:SYNA) fell 0.6% during trading on Monday after BidaskClub downgraded the stock from a hold rating to a sell rating. The company traded as low as $44.92 and last traded at $45.06, with a volume of 925,774 shares trading hands. The stock had previously closed at $45.32.

Other analysts have also recently issued research reports about the stock. Oppenheimer Holdings, Inc. restated an “underperform” rating and issued a $45.00 price objective (down previously from $48.00) on shares of Synaptics in a research report on Monday, July 17th. Vetr cut shares of Synaptics from a “hold” rating to a “sell” rating and set a $57.50 price objective for the company. in a research 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 report on Thursday, July 20th. Craig Hallum lowered their price objective on shares of Synaptics from $65.00 to $62.00 and set a “hold” rating for the company in a research report on Friday, April 28th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $70.00 price objective (down previously from $90.00) on shares of Synaptics in a research report on Saturday, April 29th. Seven investment 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.

In other news, insider Rick Bergman sold 10,000 shares of the stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $55.61, for a total transaction of $556,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey D. Buchanan sold 9,375 shares of the stock in a transaction dated 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 owns 16,166 shares of the company’s stock, valued at $904,002.72. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company’s stock.

Several institutional investors have recently bought and sold shares of SYNA. American Century Companies Inc. increased its position in Synaptics by 836.0% in the first quarter. American Century Companies Inc. now owns 90,213 shares of the software maker’s stock worth $4,466,000 after buying an additional 80,575 shares in the last quarter. Oxford Asset Management purchased a new stake in shares of Synaptics during the first quarter valued at about $1,105,000. First Trust Advisors LP increased its stake in shares of Synaptics by 55.6% in the first quarter. First Trust Advisors LP now owns 36,290 shares of the software maker’s stock valued at $1,797,000 after buying an additional 12,968 shares during the period. OppenheimerFunds Inc. increased its stake in shares of Synaptics by 0.5% in the first quarter. OppenheimerFunds Inc. now owns 508,515 shares of the software maker’s stock valued at $25,177,000 after buying an additional 2,703 shares during the period. Finally, Tudor Investment Corp ET AL increased its stake in shares of Synaptics by 87.8% in the first quarter. Tudor Investment Corp ET AL now owns 11,458 shares of the software maker’s stock valued at $567,000 after buying an additional 5,358 shares during the period. Institutional investors own 93.01% of the company’s stock.

The stock has a market capitalization of $1.40 billion, a price-to-earnings 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 (NASDAQ:SYNA) last issued its quarterly earnings data on Thursday, August 3rd. The software maker reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.11. Synaptics had a net margin of 2.84% and a return on equity of 16.51%. The business had revenue of $426.50 million during the quarter, compared to the consensus estimate of $426.49 million. During the same period in the prior year, the firm posted $0.46 EPS. The firm’s quarterly revenue was up 31.7% compared to the same quarter last year. Analysts predict that Synaptics Incorporated will post $4.60 earnings per share for the current fiscal year.

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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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