Synaptics Incorporated (NASDAQ:SYNA) Receives $96.88 Average Price Target from Brokerages

Synaptics Incorporated (NASDAQ:SYNA) has received a consensus rating of “Moderate Buy” from the nine ratings firms that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $95.00.

Several brokerages recently issued reports on SYNA. Needham & Company LLC reiterated a “buy” rating and set a $90.00 price target on shares of Synaptics in a research report on Tuesday, February 4th. Craig Hallum raised Synaptics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 29th. Susquehanna increased their target price on Synaptics from $95.00 to $105.00 and gave the stock a “positive” rating in a research report on Wednesday, January 22nd. Rosenblatt Securities restated a “buy” rating and set a $105.00 price target on shares of Synaptics in a research report on Thursday, February 27th. Finally, Mizuho reduced their price target on Synaptics from $90.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday.

Synaptics Stock Performance

NASDAQ:SYNA opened at $65.26 on Wednesday. The company has a quick ratio of 3.36, a current ratio of 3.88 and a debt-to-equity ratio of 0.60. The firm’s fifty day simple moving average is $72.34 and its 200 day simple moving average is $74.63. The stock has a market cap of $2.56 billion, a P/E ratio of 15.43 and a beta of 1.55. Synaptics has a twelve month low of $60.75 and a twelve month high of $99.99.

Insider Transactions at Synaptics

In other news, insider Ken Rizvi bought 3,600 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were purchased at an average price of $69.15 per share, for a total transaction of $248,940.00. Following the completion of the purchase, the insider now owns 27,630 shares in the company, valued at approximately $1,910,614.50. This represents a 14.98 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Synaptics

Hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in Synaptics by 20.7% during the 4th quarter. Wellington Management Group LLP now owns 556,643 shares of the software maker’s stock valued at $42,483,000 after purchasing an additional 95,432 shares during the last quarter. Menard Financial Group LLC purchased a new stake in shares of Synaptics during the fourth quarter valued at $37,000. Jefferies Financial Group Inc. increased its holdings in Synaptics by 39.1% in the 4th quarter. Jefferies Financial Group Inc. now owns 4,478 shares of the software maker’s stock worth $342,000 after buying an additional 1,259 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Synaptics by 20.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 85,787 shares of the software maker’s stock worth $6,547,000 after buying an additional 14,531 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new position in Synaptics during the 4th quarter valued at about $1,268,000. 99.43% of the stock is currently 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.