Synaptics Incorporated (SYNA) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of Synaptics Incorporated (NASDAQ:SYNA) from a hold rating to a buy rating in a research note published on Thursday. The brokerage currently has $46.00 target price on the software maker’s stock.
According to Zacks, “Synaptics is a leader in designing and marketing human interface solutions such as touchpads for notebook computers, capactive touch screen controllers for handsets and biometric fingerprint sensors for mobile devices. “
Several other brokerages also recently issued reports on SYNA. Needham & Company LLC reiterated a buy rating and set a $65.00 price objective on shares of Synaptics in a research report on Friday, June 9th. BidaskClub upgraded Synaptics from a hold rating to a buy rating in a research report on Saturday, June 10th. Cowen and Company set a $75.00 price objective on Synaptics and gave the stock a buy rating in a research report on Wednesday, August 2nd. Rosenblatt Securities reiterated a buy rating and set a $70.00 price objective on shares of Synaptics in a research report on Monday, June 26th. Finally, BMO Capital Markets reiterated a hold rating and set a $56.00 price objective on shares of Synaptics in a research report on Tuesday, June 13th. Seven research analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. Synaptics currently has an average rating of Hold and a consensus price target of $54.09.
Synaptics (SYNA) traded down 1.15% during mid-day trading on Thursday, reaching $41.09. The company’s stock had a trading volume of 391,460 shares. The firm has a market capitalization of $1.38 billion, a PE ratio of 29.99 and a beta of 1.13. Synaptics has a 12 month low of $38.50 and a 12 month high of $69.45. The stock’s 50-day moving average is $46.87 and its 200-day moving average is $51.88.
Synaptics (NASDAQ:SYNA) last issued its quarterly earnings data on Thursday, August 3rd. The software maker reported $0.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.11. The business had revenue of $426.50 million during the quarter, compared to the consensus estimate of $426.49 million. Synaptics had a return on equity of 16.51% and a net margin of 2.84%. The business’s revenue was up 31.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.46 earnings per share. On average, equities analysts anticipate that Synaptics will post $4.61 EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of SYNA. BlackRock Inc. boosted 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 valued at $207,921,000 after buying an additional 4,182,029 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Synaptics by 16.0% in the second quarter. Ameriprise Financial Inc. now owns 5,048,535 shares of the software maker’s stock valued at $261,064,000 after buying an additional 697,328 shares during the last quarter. Koch Industries Inc. purchased a new position in Synaptics during the second quarter valued at $551,000. FMR LLC boosted its position in 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 last quarter. Finally, Morgan Stanley boosted its position in 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 last quarter. 97.74% of the stock is currently owned by institutional investors.
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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