Synaptics’ (SYNA) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Synaptics (NASDAQ:SYNA) in a research report sent to investors on Friday,Benzinga reports. The firm currently has a $85.00 price target on the software maker’s stock.

A number of other research analysts also recently issued reports on SYNA. Wall Street Zen downgraded shares of Synaptics from a “buy” rating to a “hold” rating in a research report on Friday, August 22nd. Weiss Ratings restated a “sell (d)” rating on shares of Synaptics in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft assumed coverage on Synaptics in a research report on Thursday, September 11th. They set a “buy” rating and a $85.00 price target on the stock. Barclays assumed coverage on Synaptics in a research report on Monday, August 18th. They issued an “overweight” rating and a $78.00 price objective for the company. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $95.00 target price on shares of Synaptics in a research report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $88.29.

Synaptics Stock Down 3.7%

Shares of NASDAQ:SYNA traded down $2.53 on Friday, reaching $66.08. The company had a trading volume of 1,176,194 shares, compared to its average volume of 495,652. The firm has a market capitalization of $2.58 billion, a PE ratio of -54.61, a PEG ratio of 3.03 and a beta of 1.63. The company has a current ratio of 2.78, a quick ratio of 2.26 and a debt-to-equity ratio of 0.60. Synaptics has a 52-week low of $41.80 and a 52-week high of $89.81. The firm’s 50 day simple moving average is $69.66 and its 200-day simple moving average is $65.88.

Synaptics (NASDAQ:SYNA) last issued its quarterly earnings data on Thursday, November 6th. The software maker reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. The company had revenue of $292.50 million for the quarter, compared to the consensus estimate of $289.93 million. Synaptics had a positive return on equity of 4.32% and a negative net margin of 4.45%.The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.81 earnings per share. Synaptics has set its Q2 2026 guidance at 1.000-1.300 EPS. As a group, analysts expect that Synaptics will post 0.96 earnings per share for the current fiscal year.

Synaptics declared that its Board of Directors has authorized a share repurchase plan on Thursday, August 7th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the software maker to repurchase up to 6.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Synaptics

Large investors have recently bought and sold shares of the company. Ameriprise Financial Inc. increased its holdings in Synaptics by 22.5% in the 1st quarter. Ameriprise Financial Inc. now owns 6,098,453 shares of the software maker’s stock worth $388,587,000 after buying an additional 1,118,559 shares during the period. State Street Corp increased its stake in shares of Synaptics by 0.5% in the second quarter. State Street Corp now owns 2,039,202 shares of the software maker’s stock worth $132,181,000 after acquiring an additional 9,335 shares during the period. Trigran Investments Inc. raised its holdings in shares of Synaptics by 5.5% during the first quarter. Trigran Investments Inc. now owns 1,130,733 shares of the software maker’s stock worth $72,050,000 after purchasing an additional 58,511 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Synaptics by 11.8% during the first quarter. Victory Capital Management Inc. now owns 645,727 shares of the software maker’s stock worth $41,146,000 after purchasing an additional 67,975 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Synaptics by 51.1% during the third quarter. JPMorgan Chase & Co. now owns 544,973 shares of the software maker’s stock valued at $37,243,000 after purchasing an additional 184,303 shares during the period. Hedge funds and other institutional investors own 99.43% of the company’s stock.

Synaptics Company Profile

Synaptics Incorporated develops, markets, and sells semiconductor products worldwide. The company offers AudioSmart for voice and audio processing; ConnectSmart for high-speed video/audio/data connectivity; DisplayLink for transmitting compressed video frames across low bandwidth connections; VideoSmart that enables set-top boxes, over-the-top, streaming devices, soundbars, surveillance cameras, and smart displays; and ImagingSmart solutions.