Synaptics (SYNA) Downgraded to “Sell” at ValuEngine

ValuEngine downgraded shares of Synaptics (NASDAQ:SYNA) from a hold rating to a sell rating in a research report report published on Tuesday morning.

A number of other brokerages have also recently issued reports on SYNA. TheStreet cut Synaptics from a c- rating to a d+ rating in a research report on Friday, October 19th. Craig Hallum raised Synaptics from a hold rating to a buy rating and set a $51.00 target price for the company in a research report on Wednesday, August 1st. Needham & Company LLC increased their price objective on Synaptics from $52.00 to $58.00 and gave the stock a buy rating in a research report on Friday, August 10th. Zacks Investment Research raised Synaptics from a hold rating to a buy rating and set a $44.00 price objective for the company in a research report on Wednesday, October 10th. Finally, BMO Capital Markets increased their price objective on Synaptics from $39.00 to $44.00 and gave the stock a market perform rating in a research report on Friday, August 10th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. Synaptics has an average rating of Hold and an average target price of $52.36.

Shares of NASDAQ SYNA opened at $36.78 on Tuesday. The stock has a market capitalization of $1.33 billion, a P/E ratio of 18.58, a PEG ratio of 1.31 and a beta of 0.94. The company has a quick ratio of 2.14, a current ratio of 2.61 and a debt-to-equity ratio of 0.62. Synaptics has a 52-week low of $35.16 and a 52-week high of $55.25.

Synaptics (NASDAQ:SYNA) last announced its earnings results on Thursday, August 9th. The software maker reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.09. The firm had revenue of $388.50 million during the quarter, compared to analysts’ expectations of $391.75 million. Synaptics had a positive return on equity of 11.07% and a negative net margin of 7.61%. The business’s revenue was down 8.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.18 EPS. As a group, research analysts forecast that Synaptics will post 2.9 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SYNA. Dimensional Fund Advisors LP increased its stake in Synaptics by 6.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,991,758 shares of the software maker’s stock valued at $100,324,000 after purchasing an additional 120,802 shares in the last quarter. FMR LLC increased its stake in Synaptics by 35.6% in the 2nd quarter. FMR LLC now owns 1,007,800 shares of the software maker’s stock valued at $50,763,000 after purchasing an additional 264,700 shares in the last quarter. Fisher Asset Management LLC purchased a new position in Synaptics in the 2nd quarter valued at approximately $47,293,000. Victory Capital Management Inc. increased its stake in Synaptics by 38.0% in the 3rd quarter. Victory Capital Management Inc. now owns 800,063 shares of the software maker’s stock valued at $36,499,000 after purchasing an additional 220,152 shares in the last quarter. Finally, Millennium Management LLC increased its stake in Synaptics by 39.4% in the 2nd quarter. Millennium Management LLC now owns 425,432 shares of the software maker’s stock valued at $21,429,000 after purchasing an additional 120,346 shares in the last quarter. 98.32% of the stock is owned by hedge funds and other institutional investors.

Synaptics Company Profile

Synaptics Incorporated develops, markets, and sells intuitive human interface solutions for electronic devices and products worldwide. The company offers its products and solutions for smartphones, tablets, and touchscreen applications, as well as mobile, handheld, wireless, and entertainment devices; notebook applications; and other personal computer (PC) product applications.

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