Shares of Synaptics Incorporated (NASDAQ:SYNA – Get Free Report) fell 5.3% on Monday . The stock traded as low as $70.87 and last traded at $71.12. 93,064 shares changed hands during trading, a decline of 67% from the average session volume of 284,887 shares. The stock had previously closed at $75.12.
Wall Street Analyst Weigh In
Several research firms have weighed in on SYNA. TD Cowen reduced their target price on Synaptics from $135.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Needham & Company LLC reduced their target price on Synaptics from $125.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Wells Fargo & Company reduced their target price on Synaptics from $115.00 to $95.00 and set an “equal weight” rating on the stock in a report on Friday, May 10th. Finally, KeyCorp dropped their price target on Synaptics from $135.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, May 10th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $117.67.
Synaptics Trading Down 3.8 %
The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of -26.67 and a beta of 1.47. The company has a debt-to-equity ratio of 0.78, a current ratio of 5.32 and a quick ratio of 4.78. The firm’s 50-day simple moving average is $89.97 and its 200 day simple moving average is $95.44.
Synaptics (NASDAQ:SYNA – Get Free Report) last announced its quarterly earnings data on Thursday, May 9th. The software maker reported $0.53 EPS for the quarter, beating the consensus estimate of $0.49 by $0.04. The business had revenue of $237.30 million during the quarter, compared to the consensus estimate of $235.17 million. Synaptics had a negative net margin of 11.30% and a negative return on equity of 0.90%. The company’s revenue was down 27.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.14 earnings per share. Equities analysts expect that Synaptics Incorporated will post -0.36 earnings per share for the current year.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Heron Bay Capital Management increased its holdings in Synaptics by 1.3% in the first quarter. Heron Bay Capital Management now owns 9,197 shares of the software maker’s stock valued at $897,000 after purchasing an additional 116 shares during the period. US Bancorp DE increased its holdings in Synaptics by 3.5% in the first quarter. US Bancorp DE now owns 3,603 shares of the software maker’s stock valued at $352,000 after purchasing an additional 123 shares during the period. CWM LLC increased its holdings in Synaptics by 26.0% in the first quarter. CWM LLC now owns 673 shares of the software maker’s stock valued at $66,000 after purchasing an additional 139 shares during the period. Bridge City Capital LLC increased its holdings in Synaptics by 0.8% in the first quarter. Bridge City Capital LLC now owns 19,092 shares of the software maker’s stock valued at $1,863,000 after purchasing an additional 149 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in Synaptics by 0.3% in the first quarter. Russell Investments Group Ltd. now owns 48,665 shares of the software maker’s stock valued at $4,748,000 after purchasing an additional 163 shares during the period. 99.43% of the stock is currently owned by institutional investors and hedge funds.
About Synaptics
Synaptics Incorporated develops, markets, and sells semiconductor products 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, over-the-top, streaming devices, soundbars, surveillance cameras, and smart displays; and ImagingSmart solutions.