Synaptics (NASDAQ:SYNA) Receives “Buy” Rating from Needham & Company LLC

Synaptics (NASDAQ:SYNA)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a research note issued to investors on Friday,Benzinga reports. They currently have a $85.00 target price on the software maker’s stock. Needham & Company LLC’s target price suggests a potential upside of 23.89% from the company’s previous close.

Several other equities analysts also recently weighed in on SYNA. Rosenblatt Securities reissued a “buy” rating and issued a $95.00 price target on shares of Synaptics in a research note on Friday, October 17th. Barclays initiated coverage on Synaptics in a report on Monday, August 18th. They issued an “overweight” rating and a $78.00 price target for the company. Wall Street Zen lowered Synaptics from a “buy” rating to a “hold” rating in a research note on Friday, August 22nd. Deutsche Bank Aktiengesellschaft assumed coverage on Synaptics in a report on Thursday, September 11th. They set a “buy” rating and a $85.00 price target on the stock. Finally, Zacks Research raised shares of Synaptics from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $88.29.

Synaptics Price Performance

NASDAQ:SYNA opened at $68.61 on Friday. The firm has a market cap of $2.68 billion, a P/E ratio of -56.70, a price-to-earnings-growth ratio of 3.03 and a beta of 1.63. The stock has a 50 day moving average of $69.74 and a two-hundred day moving average of $65.77. Synaptics has a 12 month low of $41.80 and a 12 month high of $89.81. The company has a current ratio of 2.78, a quick ratio of 2.26 and a debt-to-equity ratio of 0.60.

Synaptics (NASDAQ:SYNA) last issued its quarterly earnings results on Thursday, November 6th. The software maker reported $1.09 EPS for the quarter, topping the consensus estimate of $1.06 by $0.03. The firm had revenue of $292.50 million during the quarter, compared to analysts’ expectations of $289.93 million. Synaptics had a positive return on equity of 4.32% and a negative net margin of 4.45%.The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.81 earnings per share. Synaptics has set its Q2 2026 guidance at 1.000-1.300 EPS. On average, analysts expect that Synaptics will post 0.96 earnings per share for the current fiscal year.

Synaptics declared that its board has approved a share buyback plan on Thursday, August 7th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the software maker to reacquire up to 6.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Synaptics

A number of institutional investors and hedge funds have recently made changes to their positions in SYNA. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Synaptics during the 1st quarter worth approximately $25,000. Quarry LP raised its position in Synaptics by 220.0% in the first quarter. Quarry LP now owns 528 shares of the software maker’s stock valued at $34,000 after purchasing an additional 363 shares during the period. Banque Cantonale Vaudoise acquired a new position in Synaptics during the first quarter worth $35,000. Hantz Financial Services Inc. boosted its position in shares of Synaptics by 143.9% during the third quarter. Hantz Financial Services Inc. now owns 595 shares of the software maker’s stock worth $41,000 after buying an additional 351 shares during the period. Finally, Fifth Third Bancorp grew its stake in shares of Synaptics by 443.1% in the second quarter. Fifth Third Bancorp now owns 630 shares of the software maker’s stock valued at $41,000 after buying an additional 514 shares in the last quarter. 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.