Synaptics (NASDAQ:SYNA) Given New $80.00 Price Target at Mizuho

Synaptics (NASDAQ:SYNA) had its price objective dropped by Mizuho from $90.00 to $80.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the software maker’s stock. Mizuho’s price objective suggests a potential upside of 22.80% from the stock’s previous close.

Several other equities analysts have also recently weighed in on SYNA. Rosenblatt Securities restated a “buy” rating and set a $105.00 price target on shares of Synaptics in a report on Thursday, February 27th. Needham & Company LLC restated a “buy” rating and issued a $90.00 price target on shares of Synaptics in a research report on Tuesday, February 4th. Susquehanna upped their price target on shares of Synaptics from $95.00 to $105.00 and gave the company a “positive” rating in a research note on Wednesday, January 22nd. Finally, Craig Hallum raised shares of Synaptics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 29th. Two investment 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. Based on data from MarketBeat, Synaptics has a consensus rating of “Moderate Buy” and an average target price of $95.00.

Synaptics Price Performance

Shares of SYNA traded up $1.05 during midday trading on Monday, hitting $65.15. 57,201 shares of the company traded hands, compared to its average volume of 656,693. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 15.40 and a beta of 1.55. The firm has a 50 day moving average of $72.74 and a 200-day moving average of $74.75. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.36 and a current ratio of 3.88. Synaptics has a 52 week low of $60.75 and a 52 week high of $99.99.

Insider Transactions at Synaptics

In other news, insider Ken Rizvi purchased 3,600 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were acquired at an average price of $69.15 per share, with a total value of $248,940.00. Following the transaction, the insider now owns 27,630 shares of the company’s stock, valued at $1,910,614.50. This represents a 14.98 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Synaptics

A number of hedge funds have recently added to or reduced their stakes in SYNA. Quarry LP bought a new stake in shares of Synaptics in the 3rd quarter valued at about $31,000. Brown Brothers Harriman & Co. purchased a new position in Synaptics during the fourth quarter valued at approximately $31,000. Menard Financial Group LLC bought a new position in Synaptics in the fourth quarter worth approximately $37,000. Aster Capital Management DIFC Ltd bought a new stake in Synaptics during the 4th quarter valued at $43,000. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new stake in Synaptics during the 4th quarter valued at $72,000. 99.43% of the stock is owned by hedge funds and other institutional investors.

About Synaptics

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.