Synaptics (SYNA) Downgraded by ValuEngine to “Hold”

ValuEngine cut shares of Synaptics (NASDAQ:SYNA) from a buy rating to a hold rating in a research report released on Sunday.

A number of other research firms have also recently commented on SYNA. Craig Hallum reiterated a buy rating and issued a $43.00 price target (down from $55.00) on shares of Synaptics in a research note on Wednesday, November 8th. Oppenheimer reiterated a sell rating and issued a $35.00 price target on shares of Synaptics in a research note on Wednesday, November 8th. Stifel Nicolaus decreased their price target on Synaptics from $68.00 to $59.00 and set a buy rating for the company in a research note on Wednesday, November 8th. KeyCorp reiterated a hold rating on shares of Synaptics in a research note on Wednesday, September 6th. Finally, Needham & Company LLC reissued a buy rating and issued a $55.00 price objective on shares of Synaptics in a report on Wednesday, December 13th. Six analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. Synaptics currently has an average rating of Hold and a consensus price target of $48.03.

Shares of Synaptics (NASDAQ:SYNA) traded up $0.41 during midday trading on Friday, hitting $41.56. The company had a trading volume of 650,500 shares, compared to its average volume of 597,150. The company has a quick ratio of 1.70, a current ratio of 2.35 and a debt-to-equity ratio of 0.59. The stock has a market cap of $1,410.00, a PE ratio of 86.58, a P/E/G ratio of 0.98 and a beta of 1.20. Synaptics has a 1 year low of $33.73 and a 1 year high of $64.54.

Synaptics (NASDAQ:SYNA) last released its quarterly earnings results on Tuesday, November 7th. The software maker reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.46. Synaptics had a return on equity of 15.85% and a net margin of 1.06%. The company had revenue of $417.40 million during the quarter, compared to analysts’ expectations of $398.68 million. During the same period last year, the business posted $1.03 earnings per share. The firm’s revenue was up 8.1% compared to the same quarter last year. analysts predict that Synaptics will post 2.8 EPS for the current year.

In related news, insider Rick Bergman sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $40.00, for a total transaction of $80,000.00. Following the sale, the insider now directly owns 130,307 shares of the company’s stock, valued at $5,212,280. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Wajid Ali sold 2,918 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $41.75, for a total value of $121,826.50. Following the sale, the chief financial officer now directly owns 27,281 shares in the company, valued at $1,138,981.75. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. Tiedemann Wealth Management LLC grew its holdings in Synaptics by 17.9% in the third quarter. Tiedemann Wealth Management LLC now owns 16,335 shares of the software maker’s stock valued at $103,000 after purchasing an additional 2,485 shares during the period. Highlander Capital Management LLC acquired a new stake in Synaptics in the second quarter valued at approximately $104,000. Victory Capital Management Inc. acquired a new stake in Synaptics in the third quarter valued at approximately $120,000. Riverhead Capital Management LLC grew its holdings in Synaptics by 95.0% in the second quarter. Riverhead Capital Management LLC now owns 2,730 shares of the software maker’s stock valued at $141,000 after purchasing an additional 1,330 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in Synaptics by 51.0% in the second quarter. PNC Financial Services Group Inc. now owns 2,806 shares of the software maker’s stock valued at $145,000 after purchasing an additional 948 shares during the period. 97.74% of the stock is currently owned by hedge funds and other institutional investors.

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About Synaptics

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Synaptics (NASDAQ:SYNA)

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