Synaptics (NASDAQ:SYNA) Shares Gap Up – Here’s What Happened

Synaptics Incorporated (NASDAQ:SYNA)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $76.32, but opened at $79.88. Synaptics shares last traded at $81.06, with a volume of 144,928 shares.

Wall Street Analyst Weigh In

SYNA has been the topic of several recent research reports. Rosenblatt Securities lowered their price objective on shares of Synaptics from $130.00 to $92.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Needham & Company LLC dropped their price target on Synaptics from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, November 8th. TD Cowen raised their price objective on Synaptics from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Susquehanna cut their target price on Synaptics from $110.00 to $95.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Finally, KeyCorp lowered Synaptics from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Synaptics presently has an average rating of “Moderate Buy” and a consensus price target of $97.33.

Synaptics Price Performance

The company has a quick ratio of 4.02, a current ratio of 4.49 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $3.25 billion, a PE ratio of 20.53 and a beta of 1.45. The stock’s 50-day moving average is $76.54 and its 200 day moving average is $78.79.

Insider Transactions at Synaptics

In related news, insider Vikram Gupta sold 411 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $81.63, for a total value of $33,549.93. Following the completion of the sale, the insider now owns 40,795 shares of the company’s stock, valued at approximately $3,330,095.85. The trade was a 1.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Choreo LLC grew its position in Synaptics by 3.9% in the 2nd quarter. Choreo LLC now owns 4,845 shares of the software maker’s stock worth $417,000 after purchasing an additional 180 shares during the last quarter. Arizona State Retirement System grew its position in Synaptics by 2.1% during the second quarter. Arizona State Retirement System now owns 11,002 shares of the software maker’s stock worth $970,000 after buying an additional 229 shares in the last quarter. Diversified Trust Co increased its stake in Synaptics by 6.7% during the third quarter. Diversified Trust Co now owns 3,997 shares of the software maker’s stock valued at $310,000 after acquiring an additional 251 shares during the period. GAMMA Investing LLC lifted its position in shares of Synaptics by 261.8% in the 3rd quarter. GAMMA Investing LLC now owns 369 shares of the software maker’s stock worth $29,000 after acquiring an additional 267 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Synaptics by 3.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,357 shares of the software maker’s stock worth $737,000 after purchasing an additional 299 shares in the last quarter. Institutional investors own 99.43% of the company’s stock.

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.