Synaptics (NASDAQ:SYNA) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of Synaptics (NASDAQ:SYNA) from a hold rating to a strong-buy rating in a research note published on Monday,Zacks.com reports.

Several other equities analysts have also recently issued reports on SYNA. Mizuho boosted their target price on Synaptics from $128.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Craig Hallum set a $105.00 price target on Synaptics in a report on Friday, August 7th. TD Cowen downgraded Synaptics from a “buy” rating to a “hold” rating in a research note on Friday, June 26th. JPMorgan Chase & Co. upped their price objective on Synaptics from $100.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft cut Synaptics from a “buy” rating to a “hold” rating and set a $125.00 price objective for the company. in a research report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $123.91.

Synaptics Stock Down 5.2%

Shares of NASDAQ:SYNA opened at $104.83 on Monday. Synaptics has a fifty-two week low of $58.28 and a fifty-two week high of $149.11. The company has a quick ratio of 0.90, a current ratio of 1.12 and a debt-to-equity ratio of 0.43. The firm’s 50-day simple moving average is $119.53 and its 200-day simple moving average is $103.20. The company has a market cap of $4.10 billion, a price-to-earnings ratio of -8.29 and a beta of 1.99.

Synaptics (NASDAQ:SYNA) last posted its quarterly earnings results on Thursday, August 6th. The software maker reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.02. The firm had revenue of $308.00 million during the quarter, compared to analysts’ expectations of $305.32 million. Synaptics had a negative net margin of 41.00% and a positive return on equity of 4.37%. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.01 earnings per share. As a group, equities research analysts predict that Synaptics will post 1.98 earnings per share for the current year.

Insider Buying and Selling at Synaptics

In other Synaptics news, insider Esther Song sold 8,833 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $141.17, for a total value of $1,246,954.61. Following the completion of the transaction, the insider directly owned 12,421 shares of the company’s stock, valued at approximately $1,753,472.57. This trade represents a 41.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vikram Gupta sold 692 shares of Synaptics stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $147.50, for a total transaction of $102,070.00. Following the sale, the insider owned 83,434 shares of the company’s stock, valued at approximately $12,306,515. The trade was a 0.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 10,345 shares of company stock valued at $1,453,745. Corporate insiders own 0.50% of the company’s stock.

Institutional Trading of Synaptics

Several large investors have recently bought and sold shares of the company. CoreCap Advisors LLC acquired a new position in shares of Synaptics during the 2nd quarter worth $25,000. CIBC Private Wealth Group LLC grew its stake in Synaptics by 119.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 349 shares of the software maker’s stock valued at $26,000 after acquiring an additional 190 shares during the last quarter. Allworth Financial LP purchased a new position in Synaptics during the 2nd quarter valued at about $33,000. Leonteq Securities AG purchased a new position in Synaptics during the 4th quarter valued at about $43,000. Finally, Lazard Asset Management LLC acquired a new position in Synaptics during the second quarter worth about $54,000. Institutional investors and hedge funds own 99.43% of the company’s stock.

About Synaptics

Synaptics Incorporated is a global developer and supplier of human interface solutions for computing, networking, communications, and entertainment devices. The company specializes in the design, development and integration of custom chips and software that enable intuitive, natural user interactions. Synaptics solutions support touch, display, audio and biometrics functions, facilitating seamless human-to-machine interfaces across a broad range of end markets.

Key product offerings include touch controllers for laptops and tablets, capacitive touchscreens and display drivers for mobile devices, fingerprint sensors and secure authentication modules, as well as advanced audio processing and voice enhancement technologies.