Needham & Company LLC restated their buy rating on shares of Synaptics (NASDAQ:SYNA) in a report issued on Sunday, AnalystRatings.com reports. The brokerage currently has a $42.00 price target on the software maker’s stock.

SYNA has been the topic of a number of other reports. Dougherty & Co raised Synaptics from a neutral rating to a buy rating and set a $40.00 target price on the stock in a research note on Friday, August 9th. Craig Hallum cut Synaptics from a buy rating to a hold rating and cut their target price for the stock from $39.00 to $28.00 in a research note on Friday, August 9th. Zacks Investment Research cut Synaptics from a buy rating to a hold rating in a research note on Friday, July 26th. Mizuho cut their target price on Synaptics from $39.00 to $35.00 and set a neutral rating on the stock in a research note on Friday, May 10th. Finally, BidaskClub cut Synaptics from a sell rating to a strong sell rating in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. Synaptics has a consensus rating of Hold and a consensus target price of $35.33.

Shares of SYNA stock opened at $33.06 on Friday. The stock has a market capitalization of $1.13 billion, a PE ratio of 13.22 and a beta of 1.02. The business has a fifty day moving average price of $31.25. Synaptics has a twelve month low of $26.34 and a twelve month high of $48.74. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.56 and a current ratio of 3.19.

Synaptics (NASDAQ:SYNA) last issued its quarterly earnings results on Thursday, August 8th. The software maker reported $0.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.47. The company had revenue of $295.10 million for the quarter, compared to analysts’ expectations of $307.27 million. Synaptics had a positive return on equity of 12.49% and a negative net margin of 1.56%. The firm’s revenue for the quarter was down 24.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.00 earnings per share. As a group, equities research analysts predict that Synaptics will post 1.53 earnings per share for the current year.

In other news, Director Nelson C. Chan sold 6,000 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $33.25, for a total value of $199,500.00. Following the sale, the director now directly owns 39,449 shares of the company’s stock, valued at $1,311,679.25. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.70% of the company’s stock.

Several large investors have recently made changes to their positions in SYNA. Penserra Capital Management LLC lifted its holdings in shares of Synaptics by 50.0% during the first quarter. Penserra Capital Management LLC now owns 1,185 shares of the software maker’s stock valued at $47,000 after purchasing an additional 395 shares in the last quarter. TRUE Private Wealth Advisors bought a new position in shares of Synaptics during the second quarter valued at $56,000. US Bancorp DE lifted its holdings in shares of Synaptics by 80.1% during the second quarter. US Bancorp DE now owns 2,156 shares of the software maker’s stock valued at $62,000 after purchasing an additional 959 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Synaptics by 188.6% during the second quarter. Bank of Montreal Can now owns 3,495 shares of the software maker’s stock valued at $102,000 after purchasing an additional 2,284 shares in the last quarter. Finally, Quantamental Technologies LLC bought a new position in shares of Synaptics during the second quarter valued at $113,000. 95.34% of the stock is currently owned by hedge funds and other institutional investors.

About Synaptics

Synaptics Incorporated develops, markets, and sells intuitive human interface solutions for electronic devices and products worldwide. The company offers its products and solutions for smartphones, tablets, and touchscreen applications, as well as mobile, handheld, wireless, and entertainment devices; notebook applications; and other personal computer (PC) product applications.

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Analyst Recommendations for Synaptics (NASDAQ:SYNA)

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