Synaptics Inc. (NASDAQ:SYNA) was upgraded by equities research analysts at Mizuho from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday, StockTargetPrices.com reports. The brokerage presently has a $74.00 price objective on the stock, up from their prior price objective of $58.00. Mizuho’s price target points to a potential upside of 12.53% from the company’s current price.
A number of other brokerages also recently commented on SYNA. KeyCorp reissued a “hold” rating on shares of Synaptics in a report on Wednesday, July 6th. Needham & Company LLC reissued a “buy” rating and issued a $88.00 price target on shares of Synaptics in a report on Friday, June 17th. TheStreet downgraded Synaptics from a “buy” rating to a “hold” rating in a report on Friday, July 29th. Craig Hallum reduced their price target on Synaptics from $85.00 to $70.00 and set a “buy” rating for the company in a report on Friday, July 29th. Finally, Oppenheimer Holdings Inc. reissued a “hold” rating on shares of Synaptics in a report on Wednesday, June 15th. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $76.83.
Synaptics (NASDAQ:SYNA) opened at 65.76 on Thursday. The firm’s 50-day moving average price is $59.09 and its 200 day moving average price is $62.38. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of 34.43 and a beta of 1.76. Synaptics has a 52-week low of $47.09 and a 52-week high of $94.48.
Synaptics (NASDAQ:SYNA) last issued its earnings results on Thursday, July 28th. The company reported $0.46 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.46. Synaptics had a return on equity of 18.44% and a net margin of 4.33%. The company earned $323.90 million during the quarter, compared to the consensus estimate of $318.48 million. During the same quarter in the prior year, the business earned $1.57 earnings per share. The company’s revenue was down 32.4% compared to the same quarter last year. On average, equities research analysts forecast that Synaptics will post $5.18 EPS for the current year.
In related news, insider Rick Bergman sold 10,000 shares of the stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $58.29, for a total value of $582,900.00. Following the completion of the transaction, the insider now directly owns 82,491 shares of the company’s stock, valued at approximately $4,808,400.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP John Mcfarland sold 2,778 shares of the stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $60.00, for a total value of $166,680.00. Following the completion of the transaction, the senior vice president now directly owns 10,226 shares of the company’s stock, valued at $613,560. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.
A number of institutional investors have recently modified their holdings of SYNA. Oregon Public Employees Retirement Fund raised its position in shares of Synaptics by 3.7% in the third quarter. Oregon Public Employees Retirement Fund now owns 12,719 shares of the company’s stock worth $745,000 after buying an additional 454 shares during the period. Bremer Trust National Association acquired a new position in shares of Synaptics during the third quarter worth about $480,000. Foundry Partners LLC raised its position in shares of Synaptics by 28.0% in the third quarter. Foundry Partners LLC now owns 7,195 shares of the company’s stock worth $421,000 after buying an additional 1,575 shares during the period. Independent Portfolio Consultants Inc. acquired a new position in shares of Synaptics during the third quarter worth about $1,037,000. Finally, Macquarie Group Ltd. raised its position in shares of Synaptics by 27.4% in the second quarter. Macquarie Group Ltd. now owns 328,122 shares of the company’s stock worth $17,637,000 after buying an additional 70,656 shares during the period. 89.76% of the stock is owned by institutional investors and hedge funds.
Synaptics Company Profile
Synaptics Incorporated developer and supplier of custom-designed human interface solutions that enable people to interact more easily and intuitively with a wide variety of mobile computing, communications, entertainment, and other electronic devices. The portfolio includes Display Driver ICs (DDICs) which drive high-performance displays for smartphones and tablets.
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