Synaptics (NASDAQ:SYNA) Rating Lowered to Sector Weight at KeyCorp

Synaptics (NASDAQ:SYNA) was downgraded by equities research analysts at KeyCorp from an “overweight” rating to a “sector weight” rating in a research report issued to clients and investors on Tuesday, FinViz reports.

Several other research analysts have also issued reports on the company. JPMorgan Chase & Co. dropped their price objective on Synaptics from $120.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Needham & Company LLC reduced their price target on shares of Synaptics from $110.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Craig Hallum cut their target price on shares of Synaptics from $105.00 to $80.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Finally, TD Cowen dropped their price target on Synaptics from $115.00 to $90.00 and set a “buy” rating for the company in a report on Friday, August 9th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $105.44.

Synaptics Trading Down 0.4 %

Synaptics stock opened at $76.06 on Tuesday. The business’s 50-day simple moving average is $75.98 and its 200-day simple moving average is $85.60. Synaptics has a 52 week low of $67.83 and a 52 week high of $121.37. The firm has a market capitalization of $3.04 billion, a PE ratio of -28.07 and a beta of 1.46. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.78 and a current ratio of 4.19.

Synaptics (NASDAQ:SYNA) last released its earnings results on Thursday, August 8th. The software maker reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.09. Synaptics had a net margin of 13.09% and a negative return on equity of 0.54%. The business had revenue of $247.40 million during the quarter, compared to analysts’ expectations of $245.17 million. During the same quarter last year, the company earned $0.01 earnings per share. The firm’s revenue was up 8.8% on a year-over-year basis. Equities research analysts forecast that Synaptics will post 0.72 earnings per share for the current year.

Insider Activity at Synaptics

In other news, insider Vikram Gupta sold 2,731 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $80.00, for a total transaction of $218,480.00. Following the transaction, the insider now directly owns 43,245 shares of the company’s stock, valued at approximately $3,459,600. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders have sold 5,609 shares of company stock worth $448,720. Corporate insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in Synaptics by 261.8% during the third quarter. GAMMA Investing LLC now owns 369 shares of the software maker’s stock valued at $29,000 after acquiring an additional 267 shares during the last quarter. CWM LLC grew its stake in Synaptics by 26.0% during the first quarter. CWM LLC now owns 673 shares of the software maker’s stock worth $66,000 after purchasing an additional 139 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Synaptics in the second quarter worth approximately $67,000. Register Financial Advisors LLC acquired a new position in Synaptics in the first quarter valued at approximately $76,000. Finally, Innealta Capital LLC acquired a new position in Synaptics in the second quarter valued at approximately $83,000. 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.