Oppenheimer Holdings Weighs in on Synaptics Incorporated’s Q2 2018 Earnings (SYNA)
Synaptics Incorporated (NASDAQ:SYNA) – Analysts at Oppenheimer Holdings upped their Q2 2018 earnings estimates for Synaptics in a research report issued on Wednesday. Oppenheimer Holdings analyst A. Uerkwitz now anticipates that the software maker will post earnings of $0.70 per share for the quarter, up from their prior estimate of $0.47. Oppenheimer Holdings currently has a “Sell” rating and a $35.00 target price on the stock. Oppenheimer Holdings also issued estimates for Synaptics’ Q3 2018 earnings at $0.56 EPS, Q4 2018 earnings at $0.69 EPS, FY2018 earnings at $2.55 EPS and FY2019 earnings at $1.56 EPS.
Synaptics (NASDAQ:SYNA) last announced its earnings results on Tuesday, November 7th. The software maker reported $1.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.46. The firm had revenue of $417.40 million during the quarter, compared to analyst estimates of $398.68 million. Synaptics had a net margin of 1.06% and a return on equity of 15.85%. Synaptics’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.03 EPS.
Several other equities analysts have also weighed in on the stock. Craig Hallum restated a “buy” rating and set a $43.00 price objective (down previously from $55.00) on shares of Synaptics in a research report on Wednesday, November 8th. Stifel Nicolaus reduced their price objective on shares of Synaptics from $68.00 to $59.00 and set a “buy” rating for the company in a research report on Wednesday, November 8th. Rosenblatt Securities lowered shares of Synaptics from a “buy” rating to a “neutral” rating and set a $36.00 price objective for the company. in a research report on Friday, November 3rd. J P Morgan Chase & Co set a $53.00 price objective on shares of Synaptics and gave the company a “buy” rating in a research report on Thursday, October 26th. Finally, Zacks Investment Research lowered shares of Synaptics from a “buy” rating to a “hold” rating in a research report on Tuesday, October 24th. Seven equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $48.03.
Synaptics (NASDAQ SYNA) traded down $1.32 during trading hours on Monday, hitting $38.95. 1,558,200 shares of the stock traded hands, compared to its average volume of 885,760. Synaptics has a one year low of $33.73 and a one year high of $64.54. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.70 and a current ratio of 2.35. The company has a market cap of $1,370.45, a price-to-earnings ratio of 12.31, a price-to-earnings-growth ratio of 0.96 and a beta of 1.17.
Hedge funds have recently bought and sold shares of the business. Tiedemann Wealth Management LLC lifted its position in shares of Synaptics by 17.9% in the third quarter. Tiedemann Wealth Management LLC now owns 16,335 shares of the software maker’s stock worth $103,000 after purchasing an additional 2,485 shares in the last quarter. Highlander Capital Management LLC purchased a new stake in shares of Synaptics in the second quarter worth approximately $104,000. Victory Capital Management Inc. purchased a new stake in shares of Synaptics in the third quarter worth approximately $120,000. Riverhead Capital Management LLC lifted its position in shares of Synaptics by 95.0% in the second quarter. Riverhead Capital Management LLC now owns 2,730 shares of the software maker’s stock worth $141,000 after purchasing an additional 1,330 shares in the last quarter. Finally, LS Investment Advisors LLC lifted its position in shares of Synaptics by 17.9% in the second quarter. LS Investment Advisors LLC now owns 2,775 shares of the software maker’s stock worth $143,000 after purchasing an additional 421 shares in the last quarter. 97.74% of the stock is owned by institutional investors.
In other Synaptics news, CFO Wajid Ali sold 2,918 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $41.75, for a total transaction of $121,826.50. Following the completion of the sale, the chief financial officer now directly owns 27,281 shares of the company’s stock, valued at $1,138,981.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.70% of the stock is currently owned by corporate insiders.
Synaptics Company Profile
Synaptics Incorporated is engaged in the development, marketing and sale of intuitive human interface solutions for electronic devices and products. The Company is a developer and supplier of custom-designed human interface product solutions that enable people to interact with a range of mobile computing, communications, entertainment and other electronic devices.
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