Cowen and Company reiterated their outperform rating on shares of Synaptics Inc. (NASDAQ:SYNA) in a research note published on Thursday morning. Cowen and Company currently has a $75.00 price objective on the stock.

Other research analysts have also recently issued reports about the stock. Craig Hallum cut shares of Synaptics from a buy rating to a hold rating and dropped their price objective for the stock from $70.00 to $65.00 in a research note on Friday, October 28th. TheStreet cut shares of Synaptics from a buy rating to a hold rating in a research note on Friday, July 29th. Needham & Company LLC cut shares of Synaptics from a buy rating to a hold rating in a research note on Friday, October 28th. Zacks Investment Research cut shares of Synaptics from a hold rating to a strong sell rating in a research note on Thursday, November 3rd. Finally, JPMorgan Chase & Co. reaffirmed a buy rating and issued a $71.00 target price on shares of Synaptics in a research note on Wednesday, July 20th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $73.08.

Shares of Synaptics (NASDAQ:SYNA) opened at 57.36 on Thursday. Synaptics has a 52 week low of $47.09 and a 52 week high of $91.68. The firm has a market capitalization of $2.00 billion, a PE ratio of 40.88 and a beta of 1.39. The stock has a 50 day moving average price of $60.46 and a 200 day moving average price of $58.75.

Synaptics (NASDAQ:SYNA) last issued its quarterly earnings data on Thursday, October 27th. The company reported $0.96 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.99 by $0.03. Synaptics had a return on equity of 15.27% and a net margin of 3.29%. The business had revenue of $386.20 million for the quarter, compared to analysts’ expectations of $372.65 million. During the same period last year, the business earned $1.49 earnings per share. The company’s revenue for the quarter was down 17.8% on a year-over-year basis. Equities analysts forecast that Synaptics will post $4.89 earnings per share for the current fiscal year.

In related news, SVP John Mcfarland sold 2,778 shares of Synaptics stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $60.00, for a total transaction of $166,680.00. Following the transaction, the senior vice president now owns 10,226 shares of the company’s stock, valued at approximately $613,560. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Rick Bergman sold 10,000 shares of Synaptics stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $58.29, for a total transaction of $582,900.00. Following the transaction, the insider now directly owns 82,491 shares in the company, valued at approximately $4,808,400.39. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sandy Spring Bank raised 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 last quarter. Acrospire Investment Management LLC raised 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 last quarter. LS Investment Advisors LLC raised 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 last quarter. Orinda Asset Management LLC purchased a new position in shares of Synaptics during the third quarter worth $129,000. Finally, Kempen Capital Management N.V. purchased a new position in shares of Synaptics during the second quarter worth $148,000. 89.19% of the stock is currently owned by institutional investors and hedge funds.

About Synaptics

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.

5 Day Chart for NASDAQ:SYNA

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