Synaptics (NASDAQ:SYNA) Upgraded at Craig Hallum

Craig Hallum upgraded shares of Synaptics (NASDAQ:SYNA) from a hold rating to a strong-buy rating in a research report report published on Wednesday morning,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on SYNA. KeyCorp cut Synaptics from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Rosenblatt Securities decreased their price objective on Synaptics from $130.00 to $92.00 and set a “buy” rating for the company in a research note on Friday, November 8th. TD Cowen upped their price objective on Synaptics from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Susquehanna upped their price objective on Synaptics from $95.00 to $105.00 and gave the stock a “positive” rating in a research note on Wednesday, January 22nd. Finally, Needham & Company LLC restated a “buy” rating and set a $90.00 price objective on shares of Synaptics in a research note on Wednesday. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $98.44.

Synaptics Price Performance

SYNA opened at $84.90 on Wednesday. The business has a fifty day moving average of $80.07 and a 200 day moving average of $77.80. 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 has a market cap of $3.40 billion, a P/E ratio of 21.49 and a beta of 1.44.

Insider Activity at Synaptics

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 transaction of $33,549.93. Following the completion of the sale, the insider now owns 40,795 shares of the company’s stock, valued at $3,330,095.85. This trade represents a 1.00 % 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. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Synaptics

A number of institutional investors have recently modified their holdings of SYNA. Louisiana State Employees Retirement System boosted its holdings in Synaptics by 1.8% in the fourth quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the software maker’s stock valued at $847,000 after purchasing an additional 200 shares during the period. Diversified Trust Co boosted its holdings in Synaptics by 6.7% in the third quarter. Diversified Trust Co now owns 3,997 shares of the software maker’s stock valued at $310,000 after purchasing an additional 251 shares during the period. GAMMA Investing LLC boosted its holdings in Synaptics by 261.8% in the third 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 period. State of Alaska Department of Revenue boosted its holdings in Synaptics by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 4,547 shares of the software maker’s stock valued at $352,000 after purchasing an additional 310 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in Synaptics by 0.4% in the fourth quarter. Principal Financial Group Inc. now owns 92,053 shares of the software maker’s stock valued at $7,025,000 after purchasing an additional 333 shares during the period. 99.43% of the stock is owned by institutional investors and hedge funds.

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.