TD Cowen Lowers Synaptics (NASDAQ:SYNA) Price Target to $115.00

Synaptics (NASDAQ:SYNA) had its price objective lowered by TD Cowen from $135.00 to $115.00 in a note issued to investors on Friday, Briefing.com reports. The brokerage currently has a “buy” rating on the software maker’s stock. TD Cowen’s price objective suggests a potential upside of 25.46% from the stock’s current price.

A number of other equities analysts also recently commented on SYNA. Susquehanna lifted their price objective on Synaptics from $130.00 to $135.00 and gave the stock a “positive” rating in a research report on Friday, February 9th. Needham & Company LLC upped their price objective on shares of Synaptics from $115.00 to $125.00 and gave the company a “buy” rating in a report on Friday, February 9th. Mizuho reduced their target price on shares of Synaptics from $127.00 to $124.00 and set a “buy” rating on the stock in a research note on Friday, February 9th. StockNews.com raised shares of Synaptics from a “sell” rating to a “hold” rating in a research note on Monday, February 12th. Finally, Rosenblatt Securities lifted their price target on shares of Synaptics from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $118.78.

Synaptics Trading Up 0.7 %

Shares of SYNA opened at $91.66 on Friday. Synaptics has a 52-week low of $72.64 and a 52-week high of $121.37. The stock has a market cap of $3.60 billion, a PE ratio of -46.06 and a beta of 1.59. The firm’s fifty day moving average is $94.43 and its two-hundred day moving average is $100.75. The company has a quick ratio of 4.04, a current ratio of 4.53 and a debt-to-equity ratio of 0.79.

Synaptics (NASDAQ:SYNA) last posted its quarterly earnings results on Thursday, May 9th. The software maker reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. Synaptics had a negative net margin of 7.54% and a positive return on equity of 3.01%. The firm had revenue of $237.30 million for the quarter, compared to analyst estimates of $235.17 million. During the same period in the previous year, the business posted $1.14 earnings per share. Synaptics’s quarterly revenue was down 27.3% on a year-over-year basis. Research analysts forecast that Synaptics will post -0.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Synaptics

In related news, insider Vikram Gupta sold 3,616 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $105.75, for a total transaction of $382,392.00. Following the completion of the transaction, the insider now directly owns 31,847 shares in the company, valued at approximately $3,367,820.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Synaptics

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Synaptics by 1.6% during the third quarter. Vanguard Group Inc. now owns 4,692,436 shares of the software maker’s stock worth $419,691,000 after acquiring an additional 72,044 shares during the period. Wellington Management Group LLP boosted its stake in shares of Synaptics by 3.1% in the 3rd quarter. Wellington Management Group LLP now owns 1,329,211 shares of the software maker’s stock valued at $118,885,000 after buying an additional 39,352 shares during the period. Ameriprise Financial Inc. raised its holdings in Synaptics by 2.9% in the third quarter. Ameriprise Financial Inc. now owns 4,131,256 shares of the software maker’s stock valued at $369,500,000 after acquiring an additional 116,276 shares in the last quarter. Eagle Asset Management Inc. lifted its stake in Synaptics by 10.1% in the third quarter. Eagle Asset Management Inc. now owns 99,871 shares of the software maker’s stock worth $8,932,000 after acquiring an additional 9,141 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in Synaptics during the 3rd quarter worth approximately $2,271,000. 99.43% of the stock is currently owned by institutional investors and hedge funds.

Synaptics Company Profile

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