Stifel Nicolaus Reiterates “Buy” Rating for Synaptics Incorporated (NASDAQ:SYNA)
Stifel Nicolaus reiterated their buy rating on shares of Synaptics Incorporated (NASDAQ:SYNA) in a report published on Friday. Stifel Nicolaus currently has a $68.00 target price on the software maker’s stock.
Several other research analysts have also weighed in on SYNA. BMO Capital Markets restated a hold rating and set a $56.00 target price on shares of Synaptics in a research report on Thursday, July 20th. BidaskClub lowered shares of Synaptics from a hold rating to a sell rating in a research report on Monday, July 24th. Oppenheimer Holdings, Inc. restated an underperform rating and set a $45.00 target price (down from $48.00) on shares of Synaptics in a research report on Monday, July 17th. Cowen and Company set a $75.00 target price on shares of Synaptics and gave the stock an outperform rating in a research report on Thursday, July 27th. Finally, Rosenblatt Securities restated a buy rating and set a $70.00 target price (down from $90.00) on shares of Synaptics in a research report on Saturday, April 29th. Seven investment analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $59.23.
Synaptics (NASDAQ:SYNA) opened at 52.61 on Friday. The company has a 50-day moving average of $54.23 and a 200-day moving average of $54.00. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 79.23 and a beta of 1.13. Synaptics has a 52 week low of $47.00 and a 52 week high of $69.45.
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In other Synaptics news, Director Jeffrey D. Buchanan sold 9,375 shares of the company’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $55.92, for a total value of $524,250.00. Following the sale, the director now owns 16,166 shares of the company’s stock, valued at $904,002.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Rick Bergman sold 20,000 shares of the company’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $55.03, for a total transaction of $1,100,600.00. Following the completion of the sale, the chief executive officer now directly owns 115,488 shares in the company, valued at approximately $6,355,304.64. The disclosure for this sale can be found here. Insiders sold 39,930 shares of company stock worth $2,212,446 in the last ninety days. Insiders own 3.60% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. boosted its stake in shares of Synaptics by 836.0% in the first quarter. American Century Companies Inc. now owns 90,213 shares of the software maker’s stock valued at $4,466,000 after buying an additional 80,575 shares in the last quarter. Oxford Asset Management bought a new stake in shares of Synaptics during the first quarter valued at $1,105,000. First Trust Advisors LP boosted its stake in shares of Synaptics by 55.6% in the first quarter. First Trust Advisors LP now owns 36,290 shares of the software maker’s stock valued at $1,797,000 after buying an additional 12,968 shares in the last quarter. OppenheimerFunds Inc. boosted its stake in shares of Synaptics by 0.5% in the first quarter. OppenheimerFunds Inc. now owns 508,515 shares of the software maker’s stock valued at $25,177,000 after buying an additional 2,703 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of Synaptics by 54,423.5% in the first quarter. Acadian Asset Management LLC now owns 9,269 shares of the software maker’s stock valued at $459,000 after buying an additional 9,252 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.
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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