Synaptics (NASDAQ:SYNA) Hits New 52-Week High at $71.06

Synaptics, Incorporated (NASDAQ:SYNA)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $71.06 and last traded at $70.82, with a volume of 97199 shares changing hands. The stock had previously closed at $70.82.

SYNA has been the topic of a number of recent analyst reports. Craig Hallum upped their target price on shares of Synaptics from $28.00 to $40.00 and gave the company a “hold” rating in a research note on Friday, November 8th. BMO Capital Markets boosted their price objective on shares of Synaptics to $50.00 in a research report on Friday, November 8th. Summit Insights raised shares of Synaptics from a “hold” rating to a “buy” rating in a research report on Thursday, December 19th. Zacks Investment Research upgraded shares of Synaptics from a “hold” rating to a “strong-buy” rating and set a $67.00 target price for the company in a research report on Wednesday, November 13th. Finally, TheStreet upgraded shares of Synaptics from a “d+” rating to a “c-” rating in a research report on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $53.88.

The company has a current ratio of 2.98, a quick ratio of 2.42 and a debt-to-equity ratio of 0.72. The firm has a market cap of $2.31 billion, a PE ratio of 28.48 and a beta of 1.20. The company’s 50-day moving average is $64.12 and its 200 day moving average is $45.05.

Synaptics (NASDAQ:SYNA) last issued its quarterly earnings results on Thursday, November 7th. The software maker reported $1.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.49. The business had revenue of $339.90 million during the quarter, compared to the consensus estimate of $314.44 million. Synaptics had a negative net margin of 1.63% and a positive return on equity of 13.40%. The firm’s quarterly revenue was down 18.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.24 EPS. On average, research analysts predict that Synaptics, Incorporated will post 2.81 EPS for the current fiscal year.

In related news, SVP Hing Chung Wong sold 24,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $56.52, for a total value of $1,356,480.00. Following the completion of the sale, the senior vice president now owns 44,905 shares in the company, valued at approximately $2,538,030.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Kermit Nolan sold 9,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $56.89, for a total transaction of $512,010.00. Following the completion of the sale, the insider now owns 71,276 shares of the company’s stock, valued at approximately $4,054,891.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,189 shares of company stock valued at $2,131,160. 1.70% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the stock. Hennessy Advisors Inc. purchased a new stake in Synaptics in the 4th quarter worth approximately $18,698,000. Fisher Asset Management LLC lifted its position in Synaptics by 13.8% in the 3rd quarter. Fisher Asset Management LLC now owns 1,776,512 shares of the software maker’s stock worth $70,972,000 after buying an additional 215,852 shares in the last quarter. Vanguard Group Inc. lifted its position in Synaptics by 3.7% in the 2nd quarter. Vanguard Group Inc. now owns 4,883,667 shares of the software maker’s stock worth $142,310,000 after buying an additional 175,697 shares in the last quarter. Nuveen Asset Management LLC purchased a new stake in Synaptics in the 2nd quarter worth approximately $4,334,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Synaptics in the 2nd quarter worth approximately $2,116,000. Institutional investors and hedge funds own 94.88% of the company’s stock.

Synaptics Company Profile (NASDAQ:SYNA)

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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