Synaptics Incorporated (NASDAQ:SYNA) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Synaptics Incorporated (NASDAQ:SYNA) have been given an average recommendation of “Moderate Buy” by the nine ratings firms that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $97.33.

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

Insiders Place Their Bets

In other Synaptics news, insider Vikram Gupta sold 411 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $81.63, for a total value of $33,549.93. Following the completion of the sale, the insider now directly owns 40,795 shares of the company’s stock, valued at $3,330,095.85. This trade represents a 1.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Synaptics

A number of hedge funds have recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings 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 purchasing an additional 267 shares during the last quarter. Quarry LP purchased a new stake in shares of Synaptics during the 3rd quarter valued at approximately $31,000. CWM LLC lifted its holdings in Synaptics by 58.1% in the third quarter. CWM LLC now owns 1,151 shares of the software maker’s stock valued at $89,000 after acquiring an additional 423 shares during the last quarter. Van ECK Associates Corp purchased a new position in Synaptics in the third quarter worth approximately $132,000. Finally, nVerses Capital LLC increased its stake in Synaptics by 75.0% during the third quarter. nVerses Capital LLC now owns 2,800 shares of the software maker’s stock worth $217,000 after acquiring an additional 1,200 shares during the last quarter. Hedge funds and other institutional investors own 99.43% of the company’s stock.

Synaptics Price Performance

NASDAQ:SYNA opened at $82.48 on Friday. The stock has a market capitalization of $3.30 billion, a PE ratio of 20.88 and a beta of 1.45. Synaptics has a 52 week low of $67.83 and a 52 week high of $115.85. The company has a quick ratio of 4.02, a current ratio of 4.49 and a debt-to-equity ratio of 0.66. The stock’s 50-day moving average price is $76.76 and its 200-day moving average price is $78.81.

About Synaptics

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.