Synaptics Inc. (NASDAQ:SYNA) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Synaptics Inc. (NASDAQ:SYNA) have been given a consensus recommendation of “Hold” by the seventeen research firms that are currently covering the company. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $74.00.
Several brokerages recently weighed in on SYNA. Mizuho reissued a “hold” rating on shares of Synaptics in a research note on Saturday, June 18th. Zacks Investment Research downgraded shares of Synaptics from a “buy” rating to a “hold” rating in a research note on Saturday, July 9th. Needham & Company LLC reissued a “buy” rating and issued a $65.00 target price (down previously from $88.00) on shares of Synaptics in a research note on Friday, July 29th. TheStreet downgraded shares of Synaptics from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. Finally, Cowen and Company reaffirmed a “buy” rating on shares of Synaptics in a research note on Friday, June 17th.
Shares of Synaptics (NASDAQ:SYNA) traded up 0.03% on Wednesday, reaching $58.17. 242,824 shares of the company were exchanged. The stock has a market capitalization of $2.02 billion, a PE ratio of 30.46 and a beta of 1.64. The company has a 50-day moving average price of $56.92 and a 200 day moving average price of $63.61. Synaptics has a 1-year low of $47.09 and a 1-year high of $94.48.
Synaptics (NASDAQ:SYNA) last announced its earnings results on Thursday, July 28th. The company reported $0.46 earnings per share for the quarter, meeting the consensus estimate of $0.46. Synaptics had a net margin of 4.33% and a return on equity of 18.44%. The firm earned $323.90 million during the quarter, compared to the consensus estimate of $318.48 million. During the same quarter in the previous year, the company posted $1.57 EPS. The firm’s revenue for the quarter was down 32.4% on a year-over-year basis. On average, analysts forecast that Synaptics will post $5.18 EPS for the current fiscal year.
In other news, SVP John Mcfarland sold 2,778 shares of the stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $60.00, for a total transaction of $166,680.00. Following the completion of the transaction, the senior vice president now directly owns 10,226 shares in the company, valued at approximately $613,560. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Rick Bergman sold 10,000 shares of the stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $58.29, for a total value of $582,900.00. Following the transaction, the insider now owns 82,491 shares of the company’s stock, valued at $4,808,400.39. The disclosure for this sale can be found here. 3.60% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Sandy Spring Bank boosted its position in Synaptics by 5.4% in the second quarter. Sandy Spring Bank now owns 1,950 shares of the company’s stock valued at $105,000 after buying an additional 100 shares during the period. Acrospire Investment Management LLC boosted its position in Synaptics by 150.0% in the second quarter. Acrospire Investment Management LLC now owns 2,000 shares of the company’s stock valued at $108,000 after buying an additional 1,200 shares during the period. LS Investment Advisors LLC boosted its position in Synaptics by 70.4% in the second quarter. LS Investment Advisors LLC now owns 2,178 shares of the company’s stock valued at $117,000 after buying an additional 900 shares during the period. Bancorpsouth Inc. acquired a new position in Synaptics during the first quarter valued at approximately $209,000. Finally, Kempen Capital Management N.V. acquired a new position in Synaptics during the second quarter valued at approximately $148,000. Institutional investors own 89.77% of the company’s stock.
Synaptics Company Profile
Synaptics Incorporated developer and supplier of custom-designed human interface solutions that enable people to interact more easily and intuitively with a wide variety of mobile computing, communications, entertainment, and other electronic devices. The portfolio includes Display Driver ICs (DDICs) which drive high-performance displays for smartphones and tablets.
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