Synaptics (NASDAQ:SYNA) Sees Large Volume Increase – Still a Buy?

Synaptics Incorporated (NASDAQ:SYNA) saw unusually-strong trading volume on Friday . Approximately 1,245,263 shares traded hands during trading, an increase of 293% from the previous session’s volume of 316,907 shares.The stock last traded at $75.30 and had previously closed at $75.24.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SYNA. Rosenblatt Securities decreased their price objective on Synaptics from $130.00 to $92.00 and set a “buy” rating for the company in a report 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 report on Friday, November 8th. JPMorgan Chase & Co. dropped their price objective on shares of Synaptics from $120.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. KeyCorp cut shares of Synaptics from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Finally, Susquehanna dropped their price target on shares of Synaptics from $110.00 to $95.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Synaptics has an average rating of “Moderate Buy” and a consensus target price of $97.33.

Synaptics Stock Performance

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 company has a market cap of $2.99 billion, a PE ratio of 18.90 and a beta of 1.47. The firm’s fifty day moving average is $73.89 and its 200 day moving average is $82.01.

Insider Transactions at Synaptics

In related news, insider Vikram Gupta sold 2,731 shares of Synaptics stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $80.00, for a total value of $218,480.00. Following the sale, the insider now directly owns 43,245 shares in the company, valued at approximately $3,459,600. The trade was a 5.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold 5,609 shares of company stock valued at $448,720 over the last 90 days. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Synaptics

Hedge funds have recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co increased its position in shares of Synaptics by 27.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 28,815 shares of the software maker’s stock worth $2,807,000 after purchasing an additional 6,276 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Synaptics by 15,571.4% during the second quarter. Point72 Asset Management L.P. now owns 814,912 shares of the software maker’s stock worth $71,875,000 after buying an additional 809,712 shares in the last quarter. Emerald Mutual Fund Advisers Trust grew its holdings in shares of Synaptics by 88.7% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 160,993 shares of the software maker’s stock worth $14,200,000 after buying an additional 75,680 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Synaptics in the second quarter valued at about $941,000. Finally, Intech Investment Management LLC purchased a new position in shares of Synaptics in the second quarter worth about $1,923,000. Institutional investors and hedge funds own 99.43% of the company’s stock.

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.