Synaptics Inc. (SYNA) Upgraded to Buy at Mizuho
Synaptics Inc. (NASDAQ:SYNA) was upgraded by stock analysts at Mizuho from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The brokerage presently has a $74.00 price objective on the stock, up from their previous price objective of $58.00. Mizuho’s target price points to a potential upside of 12.53% from the stock’s current price.
Several other research analysts also recently weighed in on the company. Zacks Investment Research raised Synaptics from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Tuesday, August 30th. Lake Street Capital downgraded Synaptics from a “buy” rating to a “hold” rating and reduced their target price for the stock from $74.00 to $57.00 in a research note on Wednesday, July 6th. Pacific Crest reaffirmed a “sector perform” rating on shares of Synaptics in a research note on Monday, August 29th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $71.00 target price on shares of Synaptics in a research note on Wednesday, July 20th. Finally, Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of Synaptics in a research note on Sunday, July 10th. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $76.83.
Synaptics (NASDAQ:SYNA) opened at 65.76 on Thursday. The firm’s 50-day moving average is $59.09 and its 200 day moving average is $62.38. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of 34.43 and a beta of 1.76. Synaptics has a 1-year low of $47.09 and a 1-year high of $94.48.
Synaptics (NASDAQ:SYNA) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.46 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.46. The company 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%. Synaptics’s revenue for the quarter was down 32.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.57 earnings per share. Equities analysts anticipate that Synaptics will post $5.18 EPS for the current fiscal year.
In other news, SVP John Mcfarland sold 1,804 shares of the stock in a transaction on Thursday, October 6th. The stock was sold at an average price of $64.23, for a total transaction of $115,870.92. Following the completion of the transaction, the senior vice president now directly owns 7,726 shares in the company, valued at approximately $496,240.98. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Rick Bergman sold 10,000 shares of the stock in a transaction on 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 owns 82,491 shares of the company’s stock, valued at $4,808,400.39. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in SYNA. Vanguard Group Inc. boosted its position in Synaptics by 8.2% in the second quarter. Vanguard Group Inc. now owns 3,468,543 shares of the company’s stock worth $186,435,000 after buying an additional 263,781 shares in the last quarter. BlackRock Fund Advisors boosted its position in Synaptics by 2.9% in the second quarter. BlackRock Fund Advisors now owns 1,941,137 shares of the company’s stock worth $104,336,000 after buying an additional 55,284 shares in the last quarter. State Street Corp boosted its position in Synaptics by 2.1% in the second quarter. State Street Corp now owns 1,295,662 shares of the company’s stock worth $69,640,000 after buying an additional 26,961 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Synaptics by 1.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,070,840 shares of the company’s stock worth $57,558,000 after buying an additional 16,830 shares in the last quarter. Finally, State of Tennessee Treasury Department boosted its position in Synaptics by 32.9% in the second quarter. State of Tennessee Treasury Department now owns 737,386 shares of the company’s stock worth $39,635,000 after buying an additional 182,386 shares in the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.
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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