Synaptics (NASDAQ:SYNA) Downgraded by ValuEngine

Synaptics (NASDAQ:SYNA) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a report released on Sunday, December 31st.

SYNA has been the topic of several other research reports. UBS Group upgraded Synaptics from an “underperform” rating to a “market perform” rating in a report on Friday, December 8th. Craig Hallum reiterated a “buy” rating and set a $43.00 target price (down previously from $55.00) on shares of Synaptics in a report on Wednesday, November 8th. Oppenheimer reissued a “sell” rating and set a $35.00 price target on shares of Synaptics in a research report on Wednesday, November 8th. Zacks Investment Research downgraded Synaptics from a “buy” rating to a “hold” rating in a research report on Tuesday, October 24th. Finally, JPMorgan Chase & Co. set a $53.00 price target on Synaptics and gave the stock a “buy” rating in a research report on Thursday, October 26th. Six research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. Synaptics has an average rating of “Hold” and a consensus target price of $48.03.

Synaptics (NASDAQ SYNA) traded up $5.86 during mid-day trading on Friday, reaching $49.76. The firm has a market cap of $1,680.00, a price-to-earnings ratio of 103.67, a PEG ratio of 1.19 and a beta of 1.20. Synaptics has a 52-week low of $33.73 and a 52-week high of $64.54. The company has a current ratio of 2.35, a quick ratio of 1.70 and a debt-to-equity ratio of 0.59.

Synaptics (NASDAQ:SYNA) last issued its quarterly earnings results on Tuesday, November 7th. The software maker reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.46. Synaptics had a return on equity of 15.85% and a net margin of 1.06%. The company had revenue of $417.40 million for the quarter, compared to analyst estimates of $398.68 million. During the same period in the previous year, the company posted $1.03 earnings per share. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. analysts expect that Synaptics will post 2.8 earnings per share for the current year.

In other Synaptics news, CFO Wajid Ali sold 2,918 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $41.75, for a total transaction of $121,826.50. Following the completion of the sale, the chief financial officer now directly owns 27,281 shares in the company, valued at $1,138,981.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rick Bergman sold 2,000 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $40.00, for a total value of $80,000.00. Following the sale, the insider now owns 130,307 shares of the company’s stock, valued at $5,212,280. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA lifted its stake in Synaptics by 64.9% during the second quarter. BNP Paribas Arbitrage SA now owns 20,645 shares of the software maker’s stock worth $1,068,000 after purchasing an additional 8,126 shares during the last quarter. Artemis Investment Management LLP lifted its stake in shares of Synaptics by 2,784.7% in the 2nd quarter. Artemis Investment Management LLP now owns 61,791 shares of the software maker’s stock valued at $3,195,000 after acquiring an additional 59,649 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of Synaptics by 100.4% in the 3rd quarter. Jane Street Group LLC now owns 9,075 shares of the software maker’s stock valued at $356,000 after acquiring an additional 4,547 shares during the last quarter. Advisory Services Network LLC lifted its stake in shares of Synaptics by 1.7% in the 2nd quarter. Advisory Services Network LLC now owns 4,510 shares of the software maker’s stock valued at $233,000 after acquiring an additional 75 shares during the last quarter. Finally, Chicago Equity Partners LLC bought a new position in shares of Synaptics in the 2nd quarter valued at $879,000.

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Synaptics Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Synaptics (NASDAQ:SYNA)

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