Synaptics (NASDAQ:SYNA) Price Target Lowered to $95.00 at Susquehanna

Synaptics (NASDAQ:SYNA) had its target price decreased by Susquehanna from $110.00 to $95.00 in a report released on Monday morning, Benzinga reports. Susquehanna currently has a positive rating on the software maker’s stock.

Several other equities analysts have also recently weighed in on SYNA. JPMorgan Chase & Co. cut 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. KeyCorp cut Synaptics from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Needham & Company LLC lowered their price objective on shares of Synaptics from $110.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Craig Hallum cut their price target on shares of Synaptics from $105.00 to $80.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Finally, TD Cowen decreased their price objective on Synaptics from $115.00 to $90.00 and set a “buy” rating for the company in a report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $101.00.

Synaptics Stock Performance

SYNA stock opened at $71.35 on Monday. 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 has a twelve month low of $67.83 and a twelve month high of $121.37. The business’s fifty day moving average is $75.37 and its 200-day moving average is $83.93. The company has a market cap of $2.85 billion, a P/E ratio of 23.02 and a beta of 1.46.

Synaptics (NASDAQ:SYNA) last announced its quarterly earnings results on Thursday, August 8th. The software maker reported $0.64 earnings per share for the quarter, beating 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 business had revenue of $247.40 million for the quarter, compared to the consensus estimate of $245.17 million. During the same period last year, the company posted $0.01 EPS. Synaptics’s revenue for the quarter was up 8.8% on a year-over-year basis. Equities research analysts forecast that Synaptics will post 0.81 EPS for the current year.

Insider Buying and Selling

In other Synaptics news, insider Vikram Gupta sold 2,731 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $80.00, for a total value of $218,480.00. Following the sale, the insider now owns 43,245 shares in the company, valued at $3,459,600. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders sold 5,609 shares of company stock worth $448,720. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Synaptics

Institutional investors and hedge funds have recently modified their holdings of the stock. Quantbot Technologies LP bought a new stake in shares of Synaptics during the 1st quarter worth about $586,000. CANADA LIFE ASSURANCE Co grew its position in shares of Synaptics by 27.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 28,815 shares of the software maker’s stock valued at $2,807,000 after purchasing an additional 6,276 shares during the last quarter. Point72 Asset Management L.P. increased its stake in shares of Synaptics by 15,571.4% during the second quarter. Point72 Asset Management L.P. now owns 814,912 shares of the software maker’s stock worth $71,875,000 after purchasing an additional 809,712 shares during the period. Emerald Mutual Fund Advisers Trust lifted its holdings in Synaptics by 88.7% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 160,993 shares of the software maker’s stock worth $14,200,000 after purchasing an additional 75,680 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new stake in Synaptics in the 2nd quarter valued at $941,000. 99.43% of the stock is currently owned by institutional investors and hedge funds.

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.