Synaptics’ (SYNA) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Synaptics (NASDAQ:SYNA) in a research note released on Sunday morning, AnalystRatings.com reports. Needham & Company LLC currently has a $42.00 price objective on the software maker’s stock.

Several other brokerages have also weighed in on SYNA. Craig Hallum lowered shares of Synaptics from a buy rating to a hold rating and decreased their price objective for the stock from $39.00 to $28.00 in a report on Friday, August 9th. BidaskClub downgraded shares of Synaptics from a sell rating to a strong sell rating in a research report on Wednesday, August 7th. Zacks Investment Research downgraded shares of Synaptics from a buy rating to a hold rating in a research report on Friday, July 26th. Rosenblatt Securities restated a hold rating and issued a $42.00 price target on shares of Synaptics in a research report on Thursday, August 8th. Finally, Mizuho reduced their price target on shares of Synaptics from $39.00 to $35.00 and set a neutral rating on the stock in a research report on Friday, May 10th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of Hold and an average target price of $35.33.

SYNA opened at $34.03 on Friday. The company’s fifty day moving average price is $31.14. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 13.61 and a beta of 1.02. Synaptics has a twelve month low of $26.34 and a twelve month high of $48.74. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.56 and a current ratio of 3.19.

Synaptics (NASDAQ:SYNA) last released its quarterly earnings results on Thursday, August 8th. The software maker reported $0.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.47. The business had revenue of $295.10 million during the quarter, compared to analyst estimates of $307.27 million. Synaptics had a negative net margin of 1.56% and a positive return on equity of 12.49%. The business’s revenue was down 24.0% on a year-over-year basis. During the same period last year, the business earned $1.00 EPS. Analysts forecast that Synaptics will post 1.53 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of the company. Arizona State Retirement System lifted its position in Synaptics by 1.4% in the 2nd quarter. Arizona State Retirement System now owns 25,038 shares of the software maker’s stock valued at $730,000 after purchasing an additional 335 shares during the last quarter. Penserra Capital Management LLC lifted its position in Synaptics by 50.0% in the 1st quarter. Penserra Capital Management LLC now owns 1,185 shares of the software maker’s stock valued at $47,000 after purchasing an additional 395 shares during the last quarter. Rhumbline Advisers lifted its position in Synaptics by 0.4% in the 1st quarter. Rhumbline Advisers now owns 108,714 shares of the software maker’s stock valued at $4,321,000 after purchasing an additional 466 shares during the last quarter. Cardinal Capital Management lifted its position in Synaptics by 3.1% in the 2nd quarter. Cardinal Capital Management now owns 20,681 shares of the software maker’s stock valued at $603,000 after purchasing an additional 621 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in Synaptics by 7.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 8,982 shares of the software maker’s stock valued at $334,000 after purchasing an additional 633 shares during the last quarter. Institutional investors own 95.34% of the company’s stock.

About Synaptics

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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Analyst Recommendations for Synaptics (NASDAQ:SYNA)

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