Synaptics (NASDAQ:SYNA) Shares Gap Up – Here’s Why

Synaptics Incorporated (NASDAQ:SYNA)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $74.82, but opened at $78.56. Synaptics shares last traded at $69.87, with a volume of 322,045 shares changing hands.

Wall Street Analyst Weigh In

SYNA has been the topic of several analyst reports. Craig Hallum raised shares of Synaptics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 29th. Needham & Company LLC restated a “buy” rating and issued a $90.00 price target on shares of Synaptics in a research report on Tuesday. Susquehanna lifted their price target on Synaptics from $95.00 to $105.00 and gave the company a “positive” rating in a research note on Wednesday, January 22nd. TD Cowen increased their price objective on shares of Synaptics from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $92.00 target price on shares of Synaptics in a research note on Tuesday. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $98.44.

Synaptics Trading Down 4.8 %

The company has a debt-to-equity ratio of 0.66, a current ratio of 4.49 and a quick ratio of 4.02. The firm’s 50 day moving average price is $79.91 and its 200-day moving average price is $77.37. The stock has a market cap of $2.85 billion, a P/E ratio of 18.04 and a beta of 1.45.

Insider Activity

In related news, insider Vikram Gupta sold 411 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $81.63, for a total transaction of $33,549.93. Following the completion of the transaction, the insider now directly owns 40,795 shares of the company’s stock, valued at approximately $3,330,095.85. This trade represents a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. TimesSquare Capital Management LLC boosted its stake in shares of Synaptics by 46.0% during the fourth quarter. TimesSquare Capital Management LLC now owns 526,335 shares of the software maker’s stock valued at $40,170,000 after purchasing an additional 165,866 shares during the period. Peregrine Capital Management LLC lifted its holdings in shares of Synaptics by 210.0% during the 4th quarter. Peregrine Capital Management LLC now owns 204,829 shares of the software maker’s stock valued at $15,633,000 after purchasing an additional 138,748 shares during the last quarter. Barclays PLC boosted its position in shares of Synaptics by 189.7% in the 3rd quarter. Barclays PLC now owns 81,330 shares of the software maker’s stock worth $6,309,000 after purchasing an additional 53,252 shares in the last quarter. BNP Paribas Financial Markets increased its position in Synaptics by 111.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 79,777 shares of the software maker’s stock valued at $6,189,000 after buying an additional 42,101 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in Synaptics by 5.8% in the third quarter. Victory Capital Management Inc. now owns 577,523 shares of the software maker’s stock valued at $44,804,000 after buying an additional 31,565 shares during the last quarter. Institutional investors own 99.43% of the company’s stock.

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.