Synaptics (NASDAQ:SYNA) Earns “Buy” Rating from Needham & Company LLC

Synaptics (NASDAQ:SYNA)‘s stock had its “buy” rating reissued by stock analysts at Needham & Company LLC in a report issued on Wednesday,Benzinga reports. They presently have a $90.00 price objective on the software maker’s stock. Needham & Company LLC’s price target would indicate a potential upside of 4.46% from the stock’s previous close.

Other analysts also recently issued reports about the company. TD Cowen raised 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. Rosenblatt Securities dropped their price target on shares of Synaptics from $130.00 to $92.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Susquehanna lifted 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, KeyCorp cut Synaptics from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $98.44.

Synaptics Price Performance

SYNA stock opened at $86.16 on Wednesday. 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 $3.45 billion, a price-to-earnings ratio of 21.81 and a beta of 1.44. The business has a fifty day moving average of $79.90 and a two-hundred day moving average of $77.85.

Insider Activity

In related news, insider Vikram Gupta sold 411 shares of the firm’s stock in a transaction that occurred 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Synaptics

Large investors have recently modified their holdings of the company. GAMMA Investing LLC grew its stake in shares of Synaptics by 261.8% during the third quarter. GAMMA Investing LLC now owns 369 shares of the software maker’s stock worth $29,000 after purchasing an additional 267 shares in the last quarter. Quarry LP acquired a new position in shares of Synaptics during the 3rd quarter worth about $31,000. CWM LLC increased its holdings in shares of Synaptics by 58.1% in the 3rd 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. KBC Group NV raised its position in shares of Synaptics by 87.4% during the 4th quarter. KBC Group NV now owns 1,795 shares of the software maker’s stock worth $137,000 after acquiring an additional 837 shares in the last quarter. Finally, Van ECK Associates Corp purchased a new stake in Synaptics during the third quarter worth approximately $132,000. 99.43% of the stock is owned by hedge funds and other institutional investors.

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.