Synaptics (NASDAQ:SYNA) Stock Passes Above 200 Day Moving Average – Here’s Why

Synaptics Incorporated (NASDAQ:SYNA)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $79.38 and traded as high as $79.38. Synaptics shares last traded at $77.23, with a volume of 264,645 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SYNA. 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 research report on Friday, November 8th. Susquehanna decreased their price objective on Synaptics from $110.00 to $95.00 and set a “positive” rating for the company in a report on Monday, October 21st. Rosenblatt Securities lowered their target price on Synaptics from $130.00 to $92.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Needham & Company LLC reduced their price target on Synaptics from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Finally, KeyCorp downgraded Synaptics from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Synaptics currently has a consensus rating of “Moderate Buy” and an average price target of $97.33.

Synaptics Trading Down 1.8 %

The company has a current ratio of 4.49, a quick ratio of 4.02 and a debt-to-equity ratio of 0.66. The firm’s 50-day moving average price is $76.16 and its 200 day moving average price is $79.38. The company has a market cap of $3.09 billion, a price-to-earnings ratio of 19.55 and a beta of 1.45.

Insider Transactions at Synaptics

In other Synaptics news, insider Vikram Gupta sold 411 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $81.63, for a total transaction of $33,549.93. Following the completion of the sale, the insider now owns 40,795 shares in the company, valued at approximately $3,330,095.85. The trade was a 1.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SYNA. GAMMA Investing LLC lifted its position in Synaptics by 261.8% in the 3rd quarter. GAMMA Investing LLC now owns 369 shares of the software maker’s stock valued at $29,000 after acquiring an additional 267 shares in the last quarter. Quarry LP bought a new position in shares of Synaptics in the third quarter valued at approximately $31,000. CWM LLC boosted its position in shares of Synaptics by 58.1% during the third quarter. CWM LLC now owns 1,151 shares of the software maker’s stock valued at $89,000 after buying an additional 423 shares during the last quarter. Van ECK Associates Corp bought a new stake in Synaptics during the third quarter worth $132,000. Finally, nVerses Capital LLC purchased a new stake in Synaptics in the 2nd quarter valued at $141,000. 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.