Synaptics Incorporated (NASDAQ:SYNA) had its price target dropped by research analysts at Oppenheimer Holdings, Inc. from $45.00 to $35.00 in a note issued to investors on Tuesday. The firm presently has an “underperform” rating on the software maker’s stock. Oppenheimer Holdings, Inc.’s price target points to a potential downside of 11.05% from the stock’s current price.

Several other equities research analysts have also commented on SYNA. BMO Capital Markets dropped their price target on shares of Synaptics from $56.00 to $46.00 and set a “market perform” rating on the stock in a research note on Friday, August 4th. Citigroup Inc. reiterated an “underperform” rating and issued a $35.00 price objective (down from $45.00) on shares of Synaptics in a report on Tuesday. BidaskClub cut shares of Synaptics from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Cowen and Company set a $75.00 price objective on shares of Synaptics and gave the company a “buy” rating in a report on Wednesday, August 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $55.00 price objective (down from $65.00) on shares of Synaptics in a report on Friday, August 4th. Seven analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Synaptics has a consensus rating of “Hold” and a consensus price target of $56.10.

Synaptics (SYNA) traded up 0.97% during trading on Tuesday, hitting $39.73. The company had a trading volume of 155,267 shares. The company’s 50 day moving average price is $49.28 and its 200-day moving average price is $52.73. The company has a market cap of $1.34 billion, a PE ratio of 29.00 and a beta of 1.13. Synaptics has a 12 month low of $38.50 and a 12 month high of $69.45.

Synaptics (NASDAQ:SYNA) last announced its quarterly earnings results on Thursday, August 3rd. The software maker reported $0.85 EPS for the quarter, beating the consensus estimate of $0.74 by $0.11. Synaptics had a net margin of 2.84% and a return on equity of 16.51%. The company had revenue of $426.50 million for the quarter, compared to analyst estimates of $426.49 million. During the same quarter last year, the business earned $0.46 earnings per share. Synaptics’s revenue was up 31.7% compared to the same quarter last year. Equities analysts expect that Synaptics will post $4.60 earnings per share for the current year.

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In related news, Director Jeffrey D. Buchanan sold 9,375 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $904,002.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Rick Bergman sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $55.61, for a total transaction of $556,100.00. The disclosure for this sale can be found here. Company insiders own 3.60% of the company’s stock.

A number of hedge funds have recently modified their holdings of SYNA. 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 last quarter. Harbour Capital Advisors LLC purchased a new position in Synaptics during the first quarter worth approximately $104,000. Highlander Capital Management LLC purchased a new position in Synaptics during the second quarter worth approximately $104,000. Riverhead Capital Management LLC raised its position in Synaptics by 95.0% in the second quarter. Riverhead Capital Management LLC now owns 2,730 shares of the software maker’s stock worth $141,000 after buying an additional 1,330 shares in the last quarter. Finally, LS Investment Advisors LLC raised its position in 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 in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

About Synaptics

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.

Analyst Recommendations for Synaptics (NASDAQ:SYNA)

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