Synaptics Incorporated (NASDAQ:SYNA) received a $53.00 price target from J P Morgan Chase & Co in a research report issued on Thursday. The firm currently has a “buy” rating on the software maker’s stock. J P Morgan Chase & Co’s target price points to a potential upside of 43.90% from the stock’s previous close.
Other equities research analysts also recently issued reports about the stock. Needham & Company LLC reiterated a “buy” rating and set a $55.00 price objective (down from $65.00) on shares of Synaptics in a research note on Friday, August 4th. Craig Hallum upgraded shares of Synaptics from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $62.00 to $55.00 in a research note on Friday, August 4th. Cowen and Company set a $75.00 price objective on shares of Synaptics and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Stifel Nicolaus reiterated a “buy” rating and set a $68.00 price objective on shares of Synaptics in a research note on Friday, July 28th. Finally, Zacks Investment Research upgraded shares of Synaptics from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research note on Thursday, August 31st. Seven research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $51.26.
Shares of Synaptics (NASDAQ SYNA) traded up 1.68% during trading on Thursday, reaching $36.83. 628,394 shares of the company’s stock traded hands. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of 26.88 and a beta of 1.20. Synaptics has a 1-year low of $34.25 and a 1-year high of $64.54. The stock has a 50-day moving average of $38.17 and a 200-day moving average of $48.03.
Synaptics (NASDAQ:SYNA) last released its quarterly earnings data on Thursday, August 3rd. The software maker reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.11. Synaptics had a net margin of 2.84% and a return on equity of 16.51%. The company had revenue of $426.50 million during the quarter, compared to the consensus estimate of $426.49 million. During the same period in the previous year, the firm earned $0.46 earnings per share. Synaptics’s revenue for the quarter was up 31.7% on a year-over-year basis. On average, equities analysts predict that Synaptics will post $4.48 EPS for the current fiscal year.
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A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Ameriprise Financial Inc. raised its holdings in Synaptics by 16.0% in the second quarter. Ameriprise Financial Inc. now owns 5,048,535 shares of the software maker’s stock valued at $261,064,000 after acquiring an additional 697,328 shares in the last quarter. Vanguard Group Inc. raised its holdings in Synaptics by 2.7% in the second quarter. Vanguard Group Inc. now owns 4,228,015 shares of the software maker’s stock valued at $218,630,000 after acquiring an additional 110,567 shares in the last quarter. BlackRock Inc. raised its holdings in Synaptics by 23,834.7% in the first quarter. BlackRock Inc. now owns 4,199,575 shares of the software maker’s stock valued at $207,921,000 after acquiring an additional 4,182,029 shares in the last quarter. State Street Corp raised its holdings in Synaptics by 0.6% in the second quarter. State Street Corp now owns 1,313,469 shares of the software maker’s stock valued at $67,921,000 after acquiring an additional 8,390 shares in the last quarter. Finally, Lord Abbett & CO. LLC raised its holdings in Synaptics by 2.3% in the second quarter. Lord Abbett & CO. LLC now owns 1,244,747 shares of the software maker’s stock valued at $64,366,000 after acquiring an additional 27,878 shares in the last quarter. 99.96% of the stock is currently owned by hedge funds and other institutional investors.
Synaptics Incorporated is engaged in the development, marketing and sale of intuitive human interface solutions for electronic devices and products. The Company is a developer and supplier of custom-designed human interface product solutions that enable people to interact with a range of mobile computing, communications, entertainment and other electronic devices.
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