Shares of Synaptics Incorporated (NASDAQ:SYNA – Get Rating) traded down 4.3% on Monday after Cowen lowered their price target on the stock from $210.00 to $110.00. Cowen currently has an outperform rating on the stock. Synaptics traded as low as $88.35 and last traded at $89.07. 2,138 shares traded hands during mid-day trading, a decline of 100% from the average session volume of 525,069 shares. The stock had previously closed at $93.06.
Several other research analysts have also recently weighed in on the stock. Needham & Company LLC dropped their price objective on shares of Synaptics from $185.00 to $140.00 in a research report on Tuesday, October 25th. TheStreet lowered shares of Synaptics from a “b-” rating to a “c+” rating in a report on Friday, October 14th. Susquehanna lowered their target price on shares of Synaptics from $200.00 to $185.00 in a report on Friday, August 5th. KeyCorp lowered their target price on shares of Synaptics from $205.00 to $130.00 in a report on Tuesday, October 11th. Finally, Mizuho lowered their target price on shares of Synaptics from $225.00 to $205.00 and set a “buy” rating for the company in a report on Friday, August 5th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $178.33.
Insider Buying and Selling
In related news, insider Saleel Awsare sold 4,000 shares of the company’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $123.00, for a total value of $492,000.00. Following the completion of the transaction, the insider now directly owns 34,608 shares of the company’s stock, valued at approximately $4,256,784. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Saleel Awsare sold 4,000 shares of the company’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $123.00, for a total value of $492,000.00. Following the completion of the transaction, the insider now directly owns 34,608 shares of the company’s stock, valued at approximately $4,256,784. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP John Mcfarland sold 8,188 shares of the company’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $137.09, for a total transaction of $1,122,492.92. Following the completion of the transaction, the senior vice president now directly owns 15,083 shares of the company’s stock, valued at $2,067,728.47. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,188 shares of company stock valued at $2,148,813. Company insiders own 0.97% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the stock. Ellevest Inc. increased its holdings in Synaptics by 76.1% during the first quarter. Ellevest Inc. now owns 405 shares of the software maker’s stock worth $81,000 after buying an additional 175 shares during the last quarter. Retirement Systems of Alabama lifted its position in shares of Synaptics by 0.8% in the first quarter. Retirement Systems of Alabama now owns 51,859 shares of the software maker’s stock valued at $10,346,000 after buying an additional 434 shares during the last quarter. Virginia Retirement Systems ET AL increased its holdings in shares of Synaptics by 9.1% during the 1st quarter. Virginia Retirement Systems ET AL now owns 9,600 shares of the software maker’s stock worth $1,915,000 after acquiring an additional 800 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Synaptics by 4.2% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,270 shares of the software maker’s stock valued at $1,051,000 after acquiring an additional 212 shares during the period. Finally, Inspire Investing LLC acquired a new stake in Synaptics during the 1st quarter valued at $239,000. 97.15% of the stock is currently owned by institutional investors.
Synaptics Stock Performance
The stock has a market capitalization of $3.58 billion, a P/E ratio of 14.70 and a beta of 1.52. The stock’s 50-day simple moving average is $104.64 and its 200 day simple moving average is $126.57. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.03 and a quick ratio of 2.66.
Synaptics (NASDAQ:SYNA – Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The software maker reported $3.21 EPS for the quarter, beating analysts’ consensus estimates of $3.13 by $0.08. The business had revenue of $476.40 million for the quarter, compared to analyst estimates of $472.74 million. Synaptics had a net margin of 14.80% and a return on equity of 38.59%. Synaptics’s quarterly revenue was up 45.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.60 EPS. Research analysts expect that Synaptics Incorporated will post 9.81 EPS for the current fiscal year.
Synaptics Company Profile
Synaptics Incorporated develops, markets, and sells semiconductor product solutions worldwide. The company offers AudioSmart for voice and audio processing; ConnectSmart for high-speed video/audio/data connectivity; DisplayLink for transmitting compressed video frames across low bandwidth connections; VideoSmart that enables set-top boxes or over-the-top, streaming devices, soundbars, surveillance cameras, and smart displays; and ImagingSmart solutions.