Synaptics (NASDAQ:SYNA) Trading 5.5% Higher

Synaptics Incorporated (NASDAQ:SYNA) shares rose 5.5% during trading on Thursday . The stock traded as high as $78.92 and last traded at $78.79. Approximately 20,843 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 302,263 shares. The stock had previously closed at $74.65.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. TD Cowen reduced their price objective on shares of Synaptics from $115.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Needham & Company LLC reduced their price target on Synaptics from $110.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, August 9th. JPMorgan Chase & Co. dropped their price objective on Synaptics from $120.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Craig Hallum reduced their target price on Synaptics from $105.00 to $80.00 and set a “hold” rating for the company in a report on Friday, August 9th. Finally, KeyCorp decreased their price target on Synaptics from $115.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Synaptics currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.44.

Synaptics Stock Performance

The company’s 50-day moving average is $79.30 and its two-hundred day moving average is $87.84. The company has a market capitalization of $2.95 billion, a P/E ratio of -27.23 and a beta of 1.47. The company has a quick ratio of 3.78, a current ratio of 4.19 and a debt-to-equity ratio of 0.66.

Synaptics (NASDAQ:SYNA) last issued its quarterly earnings results on Thursday, August 8th. The software maker reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.09. Synaptics had a net margin of 13.09% and a negative return on equity of 0.54%. The firm had revenue of $247.40 million for the quarter, compared to analyst estimates of $245.17 million. During the same quarter in the prior year, the firm earned $0.01 EPS. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. Equities analysts anticipate that Synaptics Incorporated will post 0.72 earnings per share for the current fiscal year.

Insider Transactions at Synaptics

In related news, insider Vikram Gupta sold 1,008 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $80.00, for a total transaction of $80,640.00. Following the transaction, the insider now directly owns 45,789 shares of the company’s stock, valued at approximately $3,663,120. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders sold 3,135 shares of company stock worth $252,381. 1.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Synaptics

A number of large investors have recently added to or reduced their stakes in the business. Heron Bay Capital Management grew its stake in shares of Synaptics by 1.3% during the first quarter. Heron Bay Capital Management now owns 9,197 shares of the software maker’s stock valued at $897,000 after buying an additional 116 shares during the last quarter. US Bancorp DE increased its stake in Synaptics by 3.5% in the 1st quarter. US Bancorp DE now owns 3,603 shares of the software maker’s stock worth $352,000 after purchasing an additional 123 shares during the period. CWM LLC increased its stake in Synaptics by 26.0% in the 1st quarter. CWM LLC now owns 673 shares of the software maker’s stock worth $66,000 after purchasing an additional 139 shares during the period. Bridge City Capital LLC lifted its position in Synaptics by 0.8% in the first quarter. Bridge City Capital LLC now owns 19,092 shares of the software maker’s stock valued at $1,863,000 after purchasing an additional 149 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Synaptics by 0.3% during the first quarter. Russell Investments Group Ltd. now owns 48,665 shares of the software maker’s stock valued at $4,748,000 after purchasing an additional 163 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.