Rosenblatt Securities Reaffirms “Buy” Rating for Synaptics (NASDAQ:SYNA)

Synaptics (NASDAQ:SYNA)‘s stock had its “buy” rating reaffirmed by investment analysts at Rosenblatt Securities in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $130.00 price objective on the software maker’s stock. Rosenblatt Securities’ price objective would indicate a potential upside of 78.96% from the stock’s current price.

Several other brokerages also recently weighed in on SYNA. JPMorgan Chase & Co. reduced their price target on Synaptics from $120.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, August 9th. TD Cowen decreased their target price on shares of Synaptics from $115.00 to $90.00 and set a “buy” rating for the company in a report on Friday, August 9th. KeyCorp cut shares of Synaptics from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Craig Hallum decreased their price objective on shares of Synaptics from $105.00 to $80.00 and set a “hold” rating for the company in a report on Friday, August 9th. Finally, Susquehanna cut their target price on Synaptics from $110.00 to $95.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $101.00.

Synaptics Stock Down 3.6 %

NASDAQ:SYNA opened at $72.64 on Thursday. Synaptics has a 1-year low of $67.83 and a 1-year high of $121.37. The company has a market capitalization of $2.87 billion, a PE ratio of -26.80 and a beta of 1.46. The firm’s 50-day moving average price is $74.99 and its 200-day moving average price is $83.08. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.19 and a quick ratio of 3.78.

Synaptics (NASDAQ:SYNA) last released its earnings results on Thursday, August 8th. The software maker reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.09. The firm had revenue of $247.40 million during the quarter, compared to analyst estimates of $245.17 million. Synaptics had a net margin of 13.09% and a negative return on equity of 0.54%. The business’s revenue was up 8.8% on a year-over-year basis. During the same period last year, the business earned $0.01 earnings per share. On average, equities analysts predict that Synaptics will post 0.81 EPS for the current fiscal year.

Insider Activity

In related news, insider Vikram Gupta sold 1,008 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $80.00, for a total value of $80,640.00. Following the completion of the sale, the insider now directly owns 45,789 shares of the company’s stock, valued at approximately $3,663,120. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 5,609 shares of company stock valued at $448,720 in the last ninety days. Corporate insiders own 1.20% of the company’s stock.

Institutional Trading of Synaptics

A number of hedge funds and other institutional investors have recently modified their holdings of SYNA. Quantbot Technologies LP purchased a new stake in Synaptics in the 1st quarter worth $586,000. CANADA LIFE ASSURANCE Co grew its holdings in Synaptics by 27.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 28,815 shares of the software maker’s stock valued at $2,807,000 after buying an additional 6,276 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of Synaptics by 15,571.4% during the second quarter. Point72 Asset Management L.P. now owns 814,912 shares of the software maker’s stock valued at $71,875,000 after buying an additional 809,712 shares during the last quarter. Emerald Mutual Fund Advisers Trust boosted its position in shares of Synaptics by 88.7% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 160,993 shares of the software maker’s stock worth $14,200,000 after acquiring an additional 75,680 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in Synaptics during the second quarter valued at $941,000. 99.43% of the stock is owned by hedge funds and other institutional investors.

Synaptics Company Profile

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.