Mizuho upgraded shares of Synaptics (NASDAQ:SYNA) from a neutral rating to a buy rating in a research note issued to investors on Wednesday, MarketBeat.com reports. They currently have $55.00 price objective on the software maker’s stock, up from their previous price objective of $42.00.
A number of other equities analysts have also weighed in on SYNA. Needham & Company LLC reissued a buy rating and issued a $55.00 target price on shares of Synaptics in a research report on Wednesday, December 13th. ValuEngine lowered Synaptics from a buy rating to a hold rating in a research report on Sunday, December 31st. KeyCorp raised Synaptics from a sector weight rating to an overweight rating in a research report on Friday, January 12th. Stifel Nicolaus decreased their target price on Synaptics from $59.00 to $57.00 and set a buy rating for the company in a research report on Thursday, February 8th. Finally, Craig Hallum reissued a buy rating and issued a $49.00 target price (up previously from $43.00) on shares of Synaptics in a research report on Thursday, February 8th. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Synaptics currently has an average rating of Hold and an average price target of $47.68.
Shares of NASDAQ:SYNA opened at $46.18 on Wednesday. Synaptics has a fifty-two week low of $33.73 and a fifty-two week high of $64.54. The company has a quick ratio of 1.85, a current ratio of 2.36 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $1,644.90, a price-to-earnings ratio of 13.91, a price-to-earnings-growth ratio of 1.26 and a beta of 0.91.
Synaptics (NASDAQ:SYNA) last issued its earnings results on Wednesday, February 7th. The software maker reported $1.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.03. Synaptics had a positive return on equity of 13.70% and a negative net margin of 5.04%. The business had revenue of $430.40 million during the quarter, compared to analyst estimates of $430.59 million. During the same quarter in the previous year, the firm earned $1.49 EPS. Synaptics’s revenue was down 6.7% on a year-over-year basis. sell-side analysts forecast that Synaptics will post 2.53 earnings per share for the current year.
In related news, Director Nelson C. Chan sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $45.17, for a total transaction of $135,510.00. Following the completion of the transaction, the director now directly owns 25,231 shares in the company, valued at approximately $1,139,684.27. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Rick Bergman sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $45.58, for a total value of $91,160.00. Following the transaction, the chief executive officer now owns 128,523 shares of the company’s stock, valued at $5,858,078.34. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,258 shares of company stock valued at $283,444. Corporate insiders own 3.70% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Disciplined Growth Investors Inc. MN grew its stake in shares of Synaptics by 1.4% during the 4th quarter. Disciplined Growth Investors Inc. MN now owns 1,014,352 shares of the software maker’s stock valued at $40,513,000 after acquiring an additional 14,010 shares during the period. MetLife Investment Advisors LLC bought a new position in shares of Synaptics during the 4th quarter valued at approximately $1,454,000. Cornerstone Capital Management Holdings LLC. grew its stake in shares of Synaptics by 92.7% during the 4th quarter. Cornerstone Capital Management Holdings LLC. now owns 93,121 shares of the software maker’s stock valued at $3,718,000 after acquiring an additional 44,800 shares during the period. Two Sigma Advisers LP grew its stake in shares of Synaptics by 183.4% during the 4th quarter. Two Sigma Advisers LP now owns 543,920 shares of the software maker’s stock valued at $21,724,000 after acquiring an additional 352,000 shares during the period. Finally, Stone Ridge Asset Management LLC bought a new position in shares of Synaptics during the 4th quarter valued at approximately $560,000. Institutional investors own 97.74% of the company’s stock.
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Synaptics Company Profile
Synaptics Incorporated develops, markets, and sells intuitive human interface solutions for electronic devices and products worldwide. The company offers its human interface products solutions for mobile product applications, including smartphones, tablets, and touchscreen applications, as well as mobile, handheld, wireless, and entertainment devices; notebook applications; and other personal computer (PC) product applications, such as keyboards, mice, and desktop product applications.
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