Needham & Company LLC Reiterates Buy Rating for Synaptics (NASDAQ:SYNA)

Synaptics (NASDAQ:SYNA)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a note issued to investors on Tuesday,Benzinga reports. They presently have a $90.00 price target on the software maker’s stock. Needham & Company LLC’s price target points to a potential upside of 18.56% from the stock’s previous close.

A number of other research firms have also recently commented on SYNA. KeyCorp cut Synaptics from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Rosenblatt Securities restated a “buy” rating and set a $92.00 target price on shares of Synaptics in a research report on Tuesday. 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. TD Cowen increased their price target 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. Finally, Craig Hallum upgraded shares of Synaptics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 29th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $98.44.

Synaptics Trading Up 2.1 %

NASDAQ SYNA opened at $75.91 on Tuesday. The firm’s fifty day moving average price is $79.98 and its 200 day moving average price is $77.39. Synaptics has a 12 month low of $67.83 and a 12 month high of $115.85. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.49 and a quick ratio of 4.02. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 19.22 and a beta of 1.45.

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 stock was sold at an average price of $81.63, for a total value of $33,549.93. Following the completion of the transaction, the insider now directly owns 40,795 shares of the company’s stock, valued at $3,330,095.85. This trade represents a 1.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in Synaptics by 261.8% during the 3rd quarter. GAMMA Investing LLC now owns 369 shares of the software maker’s stock valued at $29,000 after acquiring an additional 267 shares in the last quarter. Quarry LP acquired a new stake in shares of Synaptics in the third quarter valued at approximately $31,000. CWM LLC increased its stake in shares of Synaptics by 58.1% during the 3rd quarter. CWM LLC now owns 1,151 shares of the software maker’s stock worth $89,000 after purchasing an additional 423 shares in the last quarter. Van ECK Associates Corp acquired a new position in shares of Synaptics during the 3rd quarter worth approximately $132,000. Finally, KBC Group NV lifted its stake in Synaptics by 87.4% in the 4th quarter. KBC Group NV now owns 1,795 shares of the software maker’s stock valued at $137,000 after buying an additional 837 shares in the last quarter. Hedge funds and other institutional investors 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.