Synaptics Incorporated (NASDAQ:SYNA) Receives $97.33 Consensus Target Price from Brokerages

Synaptics Incorporated (NASDAQ:SYNA) has been given a consensus recommendation of “Moderate Buy” by the nine research firms that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $97.33.

A number of equities analysts have issued reports on the stock. KeyCorp cut shares of Synaptics from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Needham & Company LLC lowered their target price on shares of Synaptics from $95.00 to $90.00 and set a “buy” rating for the company in a report on Friday, November 8th. Rosenblatt Securities cut their price objective on Synaptics from $130.00 to $92.00 and set a “buy” rating on the stock in a report on Friday, November 8th. TD Cowen lifted their target price on shares of Synaptics from $90.00 to $100.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Susquehanna decreased their price target on Synaptics from $110.00 to $95.00 and set a “positive” rating for the company in a report on Monday, October 21st.

Synaptics Trading Down 3.2 %

Shares of Synaptics stock opened at $78.59 on Friday. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of 19.90 and a beta of 1.44. Synaptics has a 52-week low of $67.83 and a 52-week high of $115.85. The company’s 50-day simple moving average is $77.34 and its 200-day simple moving average is $78.47. The company has a quick ratio of 4.02, a current ratio of 4.49 and a debt-to-equity ratio of 0.66.

Insider Transactions at Synaptics

In other news, insider Vikram Gupta sold 411 shares of the stock in a transaction 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 transaction, the insider now owns 40,795 shares of the company’s stock, valued at $3,330,095.85. This represents a 1.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Synaptics

Large investors have recently modified their holdings of the business. Barclays PLC boosted its holdings in shares of Synaptics by 189.7% in the 3rd quarter. Barclays PLC now owns 81,330 shares of the software maker’s stock valued at $6,309,000 after buying an additional 53,252 shares during the last quarter. XTX Topco Ltd bought a new position in Synaptics during the 3rd quarter worth $227,000. iSAM Funds UK Ltd bought a new stake in Synaptics during the third quarter worth about $422,000. Quarry LP acquired a new stake in Synaptics in the third quarter valued at about $31,000. Finally, Petrus Trust Company LTA bought a new position in shares of Synaptics during the 3rd quarter worth about $844,000. 99.43% of the stock is currently owned by institutional investors.

About Synaptics

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.