Synaptics (SYNA) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Synaptics (NASDAQ:SYNA) from a hold rating to a buy rating in a research note released on Saturday morning. Zacks Investment Research currently has $43.00 target price on the software maker’s stock.

According to Zacks, “Synaptics is a leader in designing and marketing human interface solutions such as touchpads for notebook computers, capactive touch screen controllers for handsets and biometric fingerprint sensors for mobile devices. “

Several other research firms also recently issued reports on SYNA. BidaskClub raised shares of Synaptics from a sell rating to a hold rating in a research note on Sunday, January 13th. Susquehanna Bancshares assumed coverage on shares of Synaptics in a research note on Friday, December 7th. They set a neutral rating and a $38.00 target price for the company. ValuEngine raised shares of Synaptics from a sell rating to a hold rating in a research note on Wednesday, October 17th. TheStreet downgraded shares of Synaptics from a c- rating to a d+ rating in a research note on Friday, October 19th. Finally, Craig Hallum lowered their target price on shares of Synaptics from $56.00 to $50.00 and set a buy rating for the company in a research note on Friday, November 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. Synaptics currently has an average rating of Hold and an average target price of $52.00.

Shares of SYNA stock traded up $0.76 during trading hours on Friday, hitting $39.53. 216,531 shares of the company’s stock traded hands, compared to its average volume of 428,544. The company has a market capitalization of $1.37 billion, a P/E ratio of 15.44, a PEG ratio of 2.71 and a beta of 0.82. Synaptics has a 12 month low of $33.54 and a 12 month high of $55.25. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.93 and a current ratio of 2.42.

Synaptics (NASDAQ:SYNA) last released its quarterly earnings results on Thursday, November 8th. The software maker reported $1.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.10. The firm had revenue of $417.60 million during the quarter, compared to the consensus estimate of $410.60 million. Synaptics had a negative net margin of 5.75% and a positive return on equity of 12.96%. The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter last year, the firm earned $1.03 earnings per share. As a group, sell-side analysts forecast that Synaptics will post 2.92 earnings per share for the current fiscal year.

In related news, insider Kevin D. Barber sold 12,865 shares of Synaptics stock in a transaction on Monday, November 12th. The shares were sold at an average price of $34.69, for a total transaction of $446,286.85. Following the completion of the transaction, the insider now owns 14,001 shares of the company’s stock, valued at $485,694.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.70% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the business. TRUE Private Wealth Advisors acquired a new stake in Synaptics in the third quarter worth $103,000. BlueMountain Capital Management LLC acquired a new stake in Synaptics in the third quarter worth $104,000. Truvestments Capital LLC acquired a new stake in Synaptics in the third quarter worth $156,000. PNC Financial Services Group Inc. grew its holdings in Synaptics by 83.4% in the third quarter. PNC Financial Services Group Inc. now owns 3,443 shares of the software maker’s stock worth $157,000 after purchasing an additional 1,566 shares during the period. Finally, Lombard Odier Asset Management USA Corp acquired a new stake in Synaptics in the third quarter worth $228,000. Institutional investors and hedge funds own 97.04% of the company’s stock.

Synaptics Company Profile

Synaptics Incorporated develops, markets, and sells intuitive human interface solutions for electronic devices and products worldwide. The company offers its products and solutions for smartphones, tablets, and touchscreen applications, as well as mobile, handheld, wireless, and entertainment devices; notebook applications; and other personal computer (PC) product applications.

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