Synaptics Incorporated (NASDAQ:SYNA) gapped up before the market opened on Wednesday following a stronger than expected earnings report. The stock had previously closed at $45.28, but opened at $42.95. Synaptics shares last traded at $42.95, with a volume of 6839863 shares traded.

The software maker reported $1.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.46. Synaptics had a return on equity of 16.51% and a net margin of 2.84%. The business had revenue of $417.40 million for the quarter, compared to the consensus estimate of $398.68 million. During the same period last year, the business earned $1.03 EPS. The firm’s revenue was up 8.1% compared to the same quarter last year.

A number of brokerages recently weighed in on SYNA. Craig Hallum reissued a “buy” rating and issued a $43.00 price objective (down from $55.00) on shares of Synaptics in a research note on Wednesday. Oppenheimer Holdings, Inc. reissued a “sell” rating and issued a $35.00 price objective on shares of Synaptics in a research note on Wednesday. Stifel Nicolaus cut their price objective on Synaptics from $68.00 to $59.00 and set a “buy” rating on the stock in a research note on Wednesday. Rosenblatt Securities downgraded Synaptics from a “buy” rating to a “neutral” rating and set a $36.00 price objective on the stock. in a research note on Friday, November 3rd. Finally, J P Morgan Chase & Co set a $53.00 price objective on Synaptics and gave the company a “buy” rating in a research note on Thursday, October 26th. Seven analysts have rated the stock with a sell rating, six have assigned 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 $48.03.

Large investors have recently made changes to their positions in the company. Highlander Capital Management LLC acquired a new stake in shares of Synaptics during the 2nd quarter worth approximately $104,000. Riverhead Capital Management LLC grew its holdings in shares of Synaptics by 95.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,730 shares of the software maker’s stock worth $141,000 after purchasing an additional 1,330 shares in the last quarter. LS Investment Advisors LLC grew its holdings in shares of Synaptics by 17.9% during the 2nd quarter. LS Investment Advisors LLC now owns 2,775 shares of the software maker’s stock worth $143,000 after purchasing an additional 421 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Synaptics by 51.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,806 shares of the software maker’s stock worth $145,000 after purchasing an additional 948 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Synaptics during the 2nd quarter worth approximately $147,000. 97.74% of the stock is currently owned by institutional investors.

The firm has a market cap of $1,234.70, a price-to-earnings ratio of 10.96, a price-to-earnings-growth ratio of 0.79 and a beta of 1.17. The company has a quick ratio of 2.13, a current ratio of 2.55 and a debt-to-equity ratio of 0.27.

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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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