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

Zacks Investment Research lowered shares of Synaptics (NASDAQ:SYNA) from a buy rating to a hold rating in a research report released on Thursday morning, Zacks.com reports.

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. “

Several other analysts have also recently issued reports on SYNA. Needham & Company LLC reaffirmed a buy rating and set a $42.00 price objective (down from $45.00) on shares of Synaptics in a report on Friday, May 10th. Craig Hallum cut SharpSpring from a buy rating to a hold rating and upped their price objective for the stock from $17.00 to $21.00 in a report on Friday, May 10th. BMO Capital Markets upped their price objective on Sun Life Financial from C$58.00 to C$60.00 in a report on Friday, May 10th. Mizuho set a $88.00 target price on Gilead Sciences and gave the company a buy rating in a research report on Friday, May 10th. Finally, BidaskClub downgraded Ames National from a hold rating to a sell rating in a research report on Wednesday, July 17th. One equities research 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’s stock. Synaptics currently has a consensus rating of Hold and an average target price of $41.00.

Shares of SYNA opened at $31.46 on Thursday. The stock has a market cap of $1.09 billion, a PE ratio of 15.89 and a beta of 1.07. Synaptics has a 1 year low of $26.34 and a 1 year high of $51.67. The business’s 50 day moving average price is $29.11. The company has a quick ratio of 2.56, a current ratio of 3.19 and a debt-to-equity ratio of 0.64.

Synaptics (NASDAQ:SYNA) last issued its quarterly earnings data on Thursday, May 9th. The software maker reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.52. The business had revenue of $334.00 million for the quarter, compared to analysts’ expectations of $345.30 million. Synaptics had a return on equity of 15.21% and a net margin of 1.39%. The company’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.92 EPS. As a group, analysts expect that Synaptics will post 2.32 earnings per share for the current year.

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

A number of institutional investors have recently made changes to their positions in SYNA. Norges Bank bought a new position in Synaptics in the 4th quarter valued at $17,801,000. State of New Jersey Common Pension Fund D grew its position in Synaptics by 190.5% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 610,000 shares of the software maker’s stock valued at $24,248,000 after acquiring an additional 400,000 shares during the last quarter. Victory Capital Management Inc. bought a new position in Synaptics in the 1st quarter valued at $9,559,000. D. E. Shaw & Co. Inc. grew its position in Synaptics by 106.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 288,096 shares of the software maker’s stock valued at $10,720,000 after acquiring an additional 148,594 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Synaptics by 8.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,741,214 shares of the software maker’s stock valued at $64,791,000 after acquiring an additional 142,207 shares during the last quarter. 96.78% of the stock is currently owned by institutional investors.

Synaptics Company Profile

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.

See Also: Holder of Record

Get a free copy of the Zacks research report on Synaptics (SYNA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Synaptics (NASDAQ:SYNA)

Receive News & Ratings for Synaptics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synaptics and related companies with MarketBeat.com's FREE daily email newsletter.