Synaptics Inc. (SYNA) Stock Rating Lowered by Zacks Investment Research
Synaptics Inc. (NASDAQ:SYNA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “Synaptics is a leading developer of human interface solutions for a wide variety of mobile computing and communications devices and is the leading supplier of TouchPads to the notebook computer market. Products include the TouchPad input device, TouchStyk pointing stick, Dual Pointing combination input solution, ClearPad touch screen, Spiral pen input solution, and QuickStroke Chinese handwriting software. “
Several other equities research analysts also recently issued reports on SYNA. Rosenblatt Securities reissued a “buy” rating and issued a $106.00 price objective on shares of Synaptics in a research note on Thursday, June 9th. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Synaptics in a research note on Wednesday, June 15th. Mizuho reduced their price objective on Synaptics from $75.00 to $68.00 and set a “neutral” rating for the company in a research note on Thursday, June 16th. Needham & Company LLC reissued a “buy” rating and issued a $88.00 price objective on shares of Synaptics in a research note on Friday, June 17th. Finally, Cowen and Company reissued a “buy” rating on shares of Synaptics in a research note on Friday, June 17th. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Synaptics currently has a consensus rating of “Hold” and a consensus target price of $76.33.
Synaptics (NASDAQ:SYNA) opened at 55.055 on Wednesday. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 28.825 and a beta of 1.64. Synaptics has a 52-week low of $47.09 and a 52-week high of $94.48. The company’s 50-day moving average price is $57.00 and its 200 day moving average price is $63.52.
Synaptics (NASDAQ:SYNA) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.46 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.46. The firm earned $323.90 million during the quarter, compared to the consensus estimate of $318.48 million. Synaptics had a return on equity of 18.44% and a net margin of 4.33%. The business’s revenue for the quarter was down 32.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.57 EPS. Equities research analysts predict that Synaptics will post $5.18 earnings per share for the current year.
In other Synaptics news, insider Rick Bergman sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $58.29, for a total value of $582,900.00. Following the transaction, the insider now directly owns 82,491 shares of the company’s stock, valued at approximately $4,808,400.39. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Ritu Favre sold 3,259 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $53.09, for a total value of $173,020.31. Following the completion of the transaction, the insider now directly owns 12,360 shares in the company, valued at $656,192.40. The disclosure for this sale can be found here. 3.60% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of SYNA. Sandy Spring Bank raised its position in shares of Synaptics by 5.4% in the second quarter. Sandy Spring Bank now owns 1,950 shares of the company’s stock worth $105,000 after buying an additional 100 shares in the last quarter. Acrospire Investment Management LLC raised its position in shares of Synaptics by 150.0% in the second quarter. Acrospire Investment Management LLC now owns 2,000 shares of the company’s stock worth $108,000 after buying an additional 1,200 shares in the last quarter. LS Investment Advisors LLC raised its position in shares of Synaptics by 70.4% in the second quarter. LS Investment Advisors LLC now owns 2,178 shares of the company’s stock worth $117,000 after buying an additional 900 shares in the last quarter. Kempen Capital Management N.V. bought a new position in shares of Synaptics during the second quarter worth approximately $148,000. Finally, DIAM Co. Ltd. bought a new position in shares of Synaptics during the second quarter worth approximately $149,000. 89.77% of the stock is currently owned by institutional investors.
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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