Rosenblatt Securities Reiterates Buy Rating for Synaptics (NASDAQ:SYNA)

Synaptics (NASDAQ:SYNA)‘s stock had its “buy” rating reaffirmed by equities researchers at Rosenblatt Securities in a report released on Thursday,Benzinga reports. They currently have a $105.00 price target on the software maker’s stock. Rosenblatt Securities’ price target points to a potential upside of 58.75% from the company’s previous close.

Several other brokerages have also weighed in on SYNA. TD Cowen increased their target price on shares of Synaptics from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Needham & Company LLC reissued a “buy” rating and set a $90.00 price target on shares of Synaptics in a research report on Tuesday, February 4th. Susquehanna raised their target price on shares of Synaptics from $95.00 to $105.00 and gave the company a “positive” rating in a report on Wednesday, January 22nd. Finally, Craig Hallum upgraded shares of Synaptics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 29th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $96.88.

Synaptics Trading Up 1.3 %

Shares of SYNA opened at $66.14 on Thursday. The company has a current ratio of 3.88, a quick ratio of 3.36 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $2.59 billion, a P/E ratio of 15.64 and a beta of 1.45. The firm has a 50-day moving average price of $77.26 and a 200 day moving average price of $76.26. Synaptics has a 12-month low of $64.50 and a 12-month high of $109.00.

Insider Transactions at Synaptics

In other news, insider Ken Rizvi acquired 3,600 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were purchased at an average cost of $69.15 per share, for a total transaction of $248,940.00. Following the transaction, the insider now directly owns 27,630 shares in the company, valued at approximately $1,910,614.50. This represents a 14.98 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Vikram Gupta sold 411 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were 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 approximately $3,330,095.85. This trade represents a 1.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ameriprise Financial Inc. raised its stake in Synaptics by 1.0% in the 4th quarter. Ameriprise Financial Inc. now owns 4,979,894 shares of the software maker’s stock valued at $380,059,000 after purchasing an additional 51,498 shares during the last quarter. Vanguard Group Inc. raised its stake in Synaptics by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 4,907,880 shares of the software maker’s stock valued at $374,569,000 after purchasing an additional 93,155 shares during the last quarter. Toronto Dominion Bank acquired a new position in Synaptics in the 4th quarter valued at about $152,895,000. FMR LLC raised its stake in Synaptics by 0.9% in the 4th quarter. FMR LLC now owns 1,891,227 shares of the software maker’s stock valued at $144,338,000 after purchasing an additional 16,337 shares during the last quarter. Finally, Trigran Investments Inc. raised its stake in Synaptics by 5.9% in the 4th quarter. Trigran Investments Inc. now owns 1,072,222 shares of the software maker’s stock valued at $81,832,000 after purchasing an additional 59,647 shares during the last quarter. Institutional investors and hedge funds own 99.43% of the company’s stock.

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.