Synaptics (NASDAQ:SYNA) Price Target Cut to $205.00 by Analysts at KeyCorp

Synaptics (NASDAQ:SYNAGet Rating) had its price target reduced by KeyCorp from $215.00 to $205.00 in a research report sent to investors on Friday, MarketBeat Ratings reports. They currently have an overweight rating on the software maker’s stock.

Other analysts have also issued reports about the company. Craig Hallum dropped their price target on Synaptics from $265.00 to $220.00 in a report on Friday, May 6th. Mizuho dropped their price target on Synaptics from $225.00 to $205.00 and set a buy rating on the stock in a report on Friday. Susquehanna Bancshares dropped their price target on Synaptics to $200.00 in a report on Monday, July 25th. Summit Insights lowered Synaptics from a buy rating to a hold rating in a report on Friday, May 6th. Finally, Needham & Company LLC dropped their price target on Synaptics from $340.00 to $265.00 in a report on Friday, May 6th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $221.67.

Synaptics Stock Up 0.5 %

Shares of NASDAQ:SYNA opened at $145.75 on Friday. The stock has a market cap of $5.77 billion, a price-to-earnings ratio of 23.03 and a beta of 1.46. The company has a quick ratio of 2.80, a current ratio of 3.17 and a debt-to-equity ratio of 0.85. Synaptics has a 12-month low of $109.26 and a 12-month high of $299.39. The business’s 50 day moving average is $131.12 and its 200 day moving average is $168.68.

Synaptics (NASDAQ:SYNAGet Rating) last announced its earnings results on Thursday, August 4th. The software maker reported $3.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.13 by $0.74. The company had revenue of $476.40 million for the quarter, compared to analysts’ expectations of $472.74 million. Synaptics had a return on equity of 40.31% and a net margin of 14.80%. Synaptics’s quarterly revenue was up 45.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.60 earnings per share. On average, sell-side analysts forecast that Synaptics will post 11.59 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Kiva A. Allgood sold 196 shares of Synaptics stock in a transaction on Monday, May 9th. The stock was sold at an average price of $155.61, for a total value of $30,499.56. Following the completion of the transaction, the director now directly owns 6,654 shares in the company, valued at $1,035,428.94. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Dean Warren Butler sold 1,126 shares of the business’s stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $155.61, for a total transaction of $175,216.86. Following the completion of the transaction, the insider now directly owns 26,651 shares in the company, valued at $4,147,162.11. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Kiva A. Allgood sold 196 shares of the business’s stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $155.61, for a total value of $30,499.56. Following the transaction, the director now owns 6,654 shares of the company’s stock, valued at $1,035,428.94. The disclosure for this sale can be found here. 0.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Synaptics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Edmond DE Rothschild Holding S.A. purchased a new position in Synaptics during the fourth quarter worth about $39,000. Sageworth Trust Co of South Dakota purchased a new position in shares of Synaptics in the 4th quarter worth about $43,000. San Luis Wealth Advisors LLC purchased a new position in shares of Synaptics in the 1st quarter worth about $56,000. Cornerstone Advisory LLC purchased a new position in shares of Synaptics in the 4th quarter worth about $58,000. Finally, Rockefeller Capital Management L.P. boosted its holdings in shares of Synaptics by 716.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 204 shares of the software maker’s stock worth $59,000 after purchasing an additional 179 shares in the last quarter. 91.93% of the stock is currently owned by hedge funds and other institutional investors.

Synaptics Company Profile

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Synaptics Incorporated develops and supplies semiconductor products and solutions 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 or over-the-top, streaming devices, soundbars, surveillance cameras, and smart displays; and ImagingSmart solutions.

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Analyst Recommendations for Synaptics (NASDAQ:SYNA)

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