Synaptics Incorporated (NASDAQ:SYNA) Given Average Recommendation of “Moderate Buy” by Brokerages

Synaptics Incorporated (NASDAQ:SYNA) has been given a consensus rating of “Moderate Buy” by the nine analysts that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $97.33.

Several analysts have commented on the stock. Rosenblatt Securities decreased their price target on shares of Synaptics from $130.00 to $92.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Needham & Company LLC decreased their price target on Synaptics from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, November 8th. KeyCorp cut shares of Synaptics from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Susquehanna lowered their target price on shares of Synaptics from $110.00 to $95.00 and set a “positive” rating for the company in a report on Monday, October 21st. Finally, TD Cowen upped their price target on shares of Synaptics from $90.00 to $100.00 and gave the company a “buy” rating in a report on Friday, November 8th.

Insider Transactions at Synaptics

In related news, insider Vikram Gupta sold 2,731 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $80.00, for a total value of $218,480.00. Following the completion of the sale, the insider now directly owns 43,245 shares of the company’s stock, valued at $3,459,600. This represents a 5.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Synaptics

Several hedge funds have recently modified their holdings of SYNA. Barclays PLC grew its stake in Synaptics by 189.7% in the third quarter. Barclays PLC now owns 81,330 shares of the software maker’s stock valued at $6,309,000 after purchasing an additional 53,252 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Synaptics during the third quarter worth $227,000. iSAM Funds UK Ltd acquired a new stake in shares of Synaptics in the 3rd quarter worth $422,000. Quarry LP acquired a new position in Synaptics during the 3rd quarter valued at about $31,000. Finally, Petrus Trust Company LTA acquired a new stake in Synaptics in the third quarter worth about $844,000. Hedge funds and other institutional investors own 99.43% of the company’s stock.

Synaptics Price Performance

NASDAQ:SYNA opened at $80.50 on Monday. The business’s 50-day simple moving average is $75.03 and its two-hundred day simple moving average is $80.57. Synaptics has a 52 week low of $67.83 and a 52 week high of $121.37. The stock has a market cap of $3.22 billion, a PE ratio of 20.38 and a beta of 1.45. The company has a quick ratio of 4.02, a current ratio of 4.49 and a debt-to-equity ratio of 0.66.

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.