Synaptics Incorporated (NASDAQ:SYNA) Given a $75.00 Price Target by Cowen and Company Analysts
Cowen and Company set a $75.00 target price on Synaptics Incorporated (NASDAQ:SYNA) in a research note issued to investors on Thursday morning. The firm currently has an outperform rating on the software maker’s stock.
Other equities research analysts also recently issued research reports about the stock. Needham & Company LLC boosted their target price on shares of Synaptics from $60.00 to $65.00 and gave the stock a buy rating in a research report on Friday, April 28th. Vetr raised shares of Synaptics from a hold rating to a buy rating and set a $57.50 target price for the company in a research report on Wednesday, May 17th. BidaskClub raised shares of Synaptics from a hold rating to a buy rating in a research report on Saturday, June 10th. Zacks Investment Research raised shares of Synaptics from a hold rating to a buy rating and set a $57.00 target price for the company in a research report on Saturday, April 22nd. Finally, Jefferies Group LLC reissued an underperform rating and issued a $48.00 target price (up previously from $45.00) 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 assigned a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $59.23.
Shares of Synaptics (SYNA) traded down 0.06% during trading on Thursday, hitting $54.02. 15,962 shares of the company were exchanged. The company’s 50-day moving average price is $54.43 and its 200 day moving average price is $53.99. Synaptics has a 12 month low of $47.00 and a 12 month high of $69.45. The stock has a market cap of $1.85 billion, a P/E ratio of 81.36 and a beta of 1.13.
Synaptics (NASDAQ:SYNA) last released its quarterly earnings results on Thursday, April 27th. The software maker reported $0.81 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by $0.04. Synaptics had a return on equity of 13.73% and a net margin of 1.48%. The firm had revenue of $442.20 million for the quarter, compared to analysts’ expectations of $430.19 million. During the same period last year, the firm earned $1.21 EPS. The business’s quarterly revenue was up 9.9% on a year-over-year basis. On average, equities analysts predict that Synaptics will post $4.86 earnings per share for the current fiscal year.
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In other Synaptics news, VP Wajid Ali sold 555 shares of the business’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $56.75, for a total transaction of $31,496.25. Following the completion of the transaction, the vice president now directly owns 15,900 shares of the company’s stock, valued at approximately $902,325. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey D. Buchanan sold 9,375 shares of the business’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $55.92, for a total transaction of $524,250.00. Following the transaction, the director now directly owns 16,166 shares of the company’s stock, valued at $904,002.72. The disclosure for this sale can be found here. Insiders sold a total of 39,930 shares of company stock valued at $2,212,446 over the last ninety days. Company insiders own 3.60% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. TrimTabs Asset Management LLC raised its position in Synaptics by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 2,073 shares of the software maker’s stock worth $103,000 after buying an additional 976 shares during the last quarter. Harbour Capital Advisors LLC purchased a new position in Synaptics during the first quarter worth about $104,000. Edge Wealth Management LLC raised its position in Synaptics by 1,451.0% in the first quarter. Edge Wealth Management LLC now owns 2,218 shares of the software maker’s stock worth $110,000 after buying an additional 2,075 shares during the last quarter. LS Investment Advisors LLC raised its position in 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 buying an additional 421 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new position in Synaptics during the first quarter worth about $148,000. 93.01% of the stock is owned by hedge funds and other institutional investors.
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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