Synaptics Incorporated (NASDAQ:SYNA) Upgraded by BidaskClub to Hold
Synaptics Incorporated (NASDAQ:SYNA) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Sunday.
A number of other brokerages have also recently commented on SYNA. BMO Capital Markets restated a “hold” rating and set a $56.00 target price on shares of Synaptics in a report on Friday, April 28th. Needham & Company LLC restated a “buy” rating and set a $65.00 target price on shares of Synaptics in a report on Friday, June 9th. Zacks Investment Research upgraded Synaptics from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a report on Saturday, April 22nd. Cowen and Company restated an “outperform” rating and set a $75.00 target price on shares of Synaptics in a report on Wednesday, March 22nd. Finally, Rosenblatt Securities restated a “buy” rating and set a $70.00 target price on shares of Synaptics in a report on Monday, June 26th. Six research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $59.43.
Synaptics (NASDAQ SYNA) traded up 1.14% during mid-day trading on Friday, reaching $55.09. 510,327 shares of the company were exchanged. The stock’s 50-day moving average price is $56.52 and its 200-day moving average price is $54.27. Synaptics has a 1-year low of $47.00 and a 1-year high of $69.45. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 82.97 and a beta of 1.13.
Synaptics (NASDAQ:SYNA) last issued its quarterly earnings data on Thursday, April 27th. The software maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by $0.04. The business had revenue of $442.20 million for the quarter, compared to analyst estimates of $430.19 million. Synaptics had a return on equity of 13.73% and a net margin of 1.48%. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.21 earnings per share. On average, equities research analysts anticipate that Synaptics will post $4.86 EPS for the current fiscal year.
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In other Synaptics news, VP Wajid Ali sold 555 shares of the company’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $56.75, for a total transaction of $31,496.25. Following the completion of the sale, the vice president now directly owns 15,900 shares in the company, valued at $902,325. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey D. Buchanan sold 9,375 shares of the company’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $55.92, for a total value of $524,250.00. Following the sale, the director now owns 16,166 shares of the company’s stock, valued at $904,002.72. The disclosure for this sale can be found here. Insiders sold 39,930 shares of company stock worth $2,212,446 over the last 90 days. Company insiders own 3.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of SYNA. BlackRock Inc. increased its position in Synaptics by 23,834.7% in the first quarter. BlackRock Inc. now owns 4,199,575 shares of the software maker’s stock worth $207,921,000 after buying an additional 4,182,029 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Synaptics by 18.2% in the first quarter. Ameriprise Financial Inc. now owns 4,351,207 shares of the software maker’s stock valued at $215,426,000 after buying an additional 671,478 shares during the period. Norges Bank bought a new stake in shares of Synaptics during the fourth quarter valued at about $31,600,000. FMR LLC increased its stake in shares of Synaptics by 387.8% in the first quarter. FMR LLC now owns 513,850 shares of the software maker’s stock valued at $25,441,000 after buying an additional 408,500 shares during the period. Finally, Morgan Stanley increased its stake in shares of Synaptics by 180.2% in the first quarter. Morgan Stanley now owns 610,070 shares of the software maker’s stock valued at $30,206,000 after buying an additional 392,375 shares during the period. 93.01% of the stock is owned by hedge funds and other institutional investors.
Synaptics Company Profile
Synaptics Incorporated is engaged in the development, marketing and sale of intuitive human interface solutions for electronic devices and products. The Company is a developer and supplier of custom-designed human interface product solutions that enable people to interact with a range of mobile computing, communications, entertainment and other electronic devices.
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