Synaptics Incorporated (NASDAQ:SYNA) Trading Down 0.6% on Analyst Downgrade
Shares of Synaptics Incorporated (NASDAQ:SYNA) were down 0.6% on Monday after BidaskClub downgraded the stock from a hold rating to a sell rating. The company traded as low as $44.92 and last traded at $45.06, with a volume of 925,774 shares. The stock had previously closed at $45.32.
A number of other analysts have also weighed in on the stock. Vetr raised shares of Synaptics from a “hold” rating to a “buy” rating and set a $57.50 target price on the stock in a report on Wednesday, May 17th. Zacks Investment Research lowered shares of Synaptics from a “hold” rating to a “sell” rating in a report on Thursday, June 29th. Craig Hallum decreased their target price on shares of Synaptics from $65.00 to $62.00 and set a “hold” rating on the stock in a report on Friday, April 28th. Needham & Company LLC upped their target price on shares of Synaptics from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Finally, Jefferies Group LLC reaffirmed an “underperform” rating and set a $48.00 target price (up previously from $45.00) on shares of Synaptics in a report on Saturday, April 29th. Seven investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. Synaptics currently has an average rating of “Hold” and an average target price of $57.43.
In other news, VP Wajid Ali sold 555 shares of the company’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $56.75, for a total value of $31,496.25. Following the completion of the sale, the vice president now owns 15,900 shares of the company’s stock, valued at approximately $902,325. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey D. Buchanan sold 9,375 shares of the company’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $55.92, for a total transaction of $524,250.00. Following the completion of the sale, the director now directly owns 16,166 shares of the company’s stock, valued at approximately $904,002.72. The disclosure for this sale can be found here. In the last three months, insiders sold 19,930 shares of company stock valued at $1,111,846. Corporate insiders own 3.60% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. TrimTabs Asset Management LLC boosted its stake in shares of Synaptics by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 2,073 shares of the software maker’s stock worth $103,000 after buying an additional 976 shares during the period. Harbour Capital Advisors LLC acquired a new stake in shares of Synaptics during the first quarter worth about $104,000. Edge Wealth Management LLC boosted its stake in shares of Synaptics by 1,451.0% in the first quarter. Edge Wealth Management LLC now owns 2,218 shares of the software maker’s stock worth $110,000 after buying an additional 2,075 shares during the period. LS Investment Advisors LLC boosted its stake in shares of Synaptics by 17.9% in the second quarter. LS Investment Advisors LLC now owns 2,775 shares of the software maker’s stock worth $143,000 after buying an additional 421 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Synaptics during the second quarter worth about $147,000. 93.01% of the stock is owned by institutional investors.
The stock’s 50 day moving average price is $54.09 and its 200 day moving average price is $54.00. The firm has a market capitalization of $1.55 billion, a P/E ratio of 68.09 and a beta of 1.13.
Synaptics (NASDAQ:SYNA) last posted its earnings results on Thursday, August 3rd. The software maker reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. Synaptics had a net margin of 2.84% and a return on equity of 16.51%. The firm had revenue of $426.50 million during the quarter, compared to analyst estimates of $426.49 million. During the same period last year, the firm posted $0.46 earnings per share. Synaptics’s revenue for the quarter was up 31.7% compared to the same quarter last year. Equities analysts forecast that Synaptics Incorporated will post $4.71 earnings per share for the current fiscal year.
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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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