Synaptics, Incorporated (SYNA) Earns Buy Rating from Rosenblatt Securities

Synaptics, Incorporated (NASDAQ:SYNA)‘s stock had its “buy” rating reaffirmed by stock analysts at Rosenblatt Securities in a report released on Saturday, April 29th. They presently have a $70.00 price objective on the software maker’s stock, down from their previous price objective of $90.00. Rosenblatt Securities’ price target would suggest a potential upside of 27.48% from the stock’s previous close.

Several other research analysts have also recently weighed in on SYNA. Cann restated an “underperform” rating and issued a $45.00 price objective on shares of Synaptics, in a research report on Tuesday, January 24th. Oppenheimer Holdings Inc. restated an “underperform” rating and issued a $45.00 price objective on shares of Synaptics, in a research report on Wednesday, January 25th. Lake Street Capital boosted their price objective on shares of Synaptics, from $57.00 to $61.00 and gave the stock a “hold” rating in a research report on Friday, January 27th. Zacks Investment Research upgraded shares of Synaptics, from a “sell” rating to a “hold” rating in a research report on Thursday, February 2nd. Finally, Northland Securities upgraded shares of Synaptics, from a “market perform” rating to an “outperform” rating and set a $60.00 target price for the company in a research report on Thursday, March 16th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $59.43.

Analyst Recommendations for Synaptics, (NASDAQ:SYNA)

Synaptics, (NASDAQ:SYNA) traded up 1.42% during mid-day trading on Friday, reaching $55.69. The company’s stock had a trading volume of 405,945 shares. Synaptics, has a 52 week low of $47.00 and a 52 week high of $69.45. The firm’s 50 day moving average price is $52.60 and its 200 day moving average price is $53.73. The firm has a market capitalization of $1.91 billion, a P/E ratio of 83.87 and a beta of 1.24.

Synaptics, (NASDAQ:SYNA) last posted its quarterly earnings data on Thursday, April 27th. The software maker reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.85 by $0.04. Synaptics, had a return on equity of 14.02% and a net margin of 2.54%. The company had revenue of $442.20 million during the quarter, compared to the consensus estimate of $430.19 million. During the same quarter last year, the firm earned $1.21 EPS. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, analysts anticipate that Synaptics, will post $4.90 EPS for the current fiscal year.

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In other news, VP Wajid Ali sold 555 shares of the stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $56.75, for a total transaction of $31,496.25. Following the completion of the transaction, the vice president now directly owns 15,900 shares in the company, valued at approximately $902,325. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Rick Bergman sold 20,000 shares of the stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $55.03, for a total transaction of $1,100,600.00. Following the transaction, the chief executive officer now owns 115,488 shares of the company’s stock, valued at $6,355,304.64. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company’s stock.

Several large investors have recently modified their holdings of SYNA. JPMorgan Chase & Co. boosted its stake in shares of Synaptics, by 665.4% in the third quarter. JPMorgan Chase & Co. now owns 195,114 shares of the software maker’s stock worth $11,429,000 after buying an additional 169,622 shares during the last quarter. Sirios Capital Management L P boosted its stake in shares of Synaptics, by 132.1% in the third quarter. Sirios Capital Management L P now owns 242,067 shares of the software maker’s stock worth $14,180,000 after buying an additional 137,775 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Synaptics, by 9.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 880,112 shares of the software maker’s stock worth $47,157,000 after buying an additional 73,041 shares during the last quarter. Federated Investors Inc. PA boosted its stake in shares of Synaptics, by 6.8% in the fourth quarter. Federated Investors Inc. PA now owns 56,829 shares of the software maker’s stock worth $3,045,000 after buying an additional 3,599 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Synaptics, by 8.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 5,930 shares of the software maker’s stock worth $318,000 after buying an additional 480 shares during the last quarter. 92.09% of the stock is currently owned by institutional investors.

Synaptics, Company Profile

Synaptics Incorporated is engaged in the development, marketing and sale of intuitive human interface solutions for electronic devices and products. The Company is a developer and supplier of custom-designed human interface product solutions that enable people to interact with a range of mobile computing, communications, entertainment and other electronic devices.

5 Day Chart for NASDAQ:SYNA

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