Synaptics (NASDAQ:SYNA) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Synaptics (NASDAQ:SYNA) from a sell rating to a hold rating in a research report sent to investors on Friday morning, reports. Zacks Investment Research currently has $34.00 price objective on the software maker’s stock.

According to Zacks, “Synaptics is a leader in designing and marketing human interface solutions such as touchpads for notebook computers, capactive touch screen controllers for handsets and biometric fingerprint sensors for mobile devices. “

A number of other brokerages have also commented on SYNA. Mizuho set a $88.00 target price on shares of Gilead Sciences and gave the stock a buy rating in a research report on Friday, May 10th. ValuEngine raised shares of Vermillion from a hold rating to a buy rating in a research report on Wednesday, May 15th. BidaskClub lowered shares of ZIX from a strong-buy rating to a buy rating in a research report on Tuesday, May 21st. Needham & Company LLC reaffirmed a buy rating and set a $42.00 target price (down from $45.00) on shares of Synaptics in a research report on Friday, May 10th. Finally, JPMorgan Chase & Co. raised their target price on shares of Yum China from $36.50 to $48.00 and gave the stock an overweight rating in a research report on Monday, March 18th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $41.00.

Shares of NASDAQ:SYNA opened at $31.47 on Friday. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 15.89 and a beta of 1.07. The stock’s 50 day moving average is $28.78. Synaptics has a one year low of $26.34 and a one year high of $51.67. The company has a current ratio of 3.19, a quick ratio of 2.56 and a debt-to-equity ratio of 0.64.

Synaptics (NASDAQ:SYNA) last issued its earnings results on Thursday, May 9th. The software maker reported $0.83 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.52. The business had revenue of $334.00 million for the quarter, compared to analyst estimates of $345.30 million. Synaptics had a net margin of 1.39% and a return on equity of 15.21%. The company’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same period last year, the company posted $0.92 earnings per share. On average, sell-side analysts expect that Synaptics will post 2.33 EPS for the current fiscal year.

In related news, SVP John Mcfarland sold 2,829 shares of Synaptics stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $33.76, for a total transaction of $95,507.04. Following the transaction, the senior vice president now directly owns 21,871 shares of the company’s stock, valued at $738,364.96. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 2.70% of the company’s stock.

A number of hedge funds have recently modified their holdings of SYNA. NumerixS Investment Technologies Inc purchased a new position in Synaptics during the fourth quarter valued at approximately $38,000. Penserra Capital Management LLC increased its holdings in Synaptics by 50.0% during the first quarter. Penserra Capital Management LLC now owns 1,185 shares of the software maker’s stock valued at $47,000 after buying an additional 395 shares during the period. Neuburgh Advisers LLC increased its holdings in Synaptics by 11.8% during the fourth quarter. Neuburgh Advisers LLC now owns 3,344 shares of the software maker’s stock valued at $124,000 after buying an additional 352 shares during the period. Truvestments Capital LLC purchased a new position in Synaptics during the first quarter valued at approximately $136,000. Finally, Palouse Capital Management Inc. purchased a new position in Synaptics in the first quarter worth $224,000. 96.78% of the stock is currently owned by institutional investors.

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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