Synaptics (NASDAQ:SYNA) Trading Down 4.3%

Shares of Synaptics Incorporated (NASDAQ:SYNA) fell 4.3% during trading on Thursday . The stock traded as low as $83.59 and last traded at $83.59. 40,133 shares were traded during trading, a decline of 86% from the average session volume of 281,448 shares. The stock had previously closed at $87.32.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SYNA shares. KeyCorp lowered their target price on shares of Synaptics from $135.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, May 10th. TD Cowen dropped their price target on shares of Synaptics from $135.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Wells Fargo & Company reduced their price objective on shares of Synaptics from $115.00 to $95.00 and set an “equal weight” rating for the company in a research report on Friday, May 10th. Finally, Needham & Company LLC dropped their target price on shares of Synaptics from $125.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $117.67.

Synaptics Stock Down 7.7 %

The stock has a market cap of $2.97 billion, a price-to-earnings ratio of -27.72 and a beta of 1.47. The company has a quick ratio of 4.78, a current ratio of 5.32 and a debt-to-equity ratio of 0.78. The business’s fifty day moving average is $89.97 and its two-hundred day moving average is $95.54.

Synaptics (NASDAQ:SYNA) last posted its quarterly earnings data on Thursday, May 9th. The software maker reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. Synaptics had a negative return on equity of 0.90% and a negative net margin of 11.30%. The business had revenue of $237.30 million for the quarter, compared to analyst estimates of $235.17 million. During the same quarter in the prior year, the company earned $1.14 earnings per share. The company’s revenue was down 27.3% on a year-over-year basis. Equities analysts forecast that Synaptics Incorporated will post -0.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Heron Bay Capital Management grew its holdings in shares of Synaptics by 1.3% in the 1st quarter. Heron Bay Capital Management now owns 9,197 shares of the software maker’s stock worth $897,000 after acquiring an additional 116 shares during the period. US Bancorp DE grew its stake in Synaptics by 3.5% in the 1st quarter. US Bancorp DE now owns 3,603 shares of the software maker’s stock valued at $352,000 after acquiring an additional 123 shares during the last quarter. CWM LLC increased its holdings in Synaptics by 26.0% during the 1st quarter. CWM LLC now owns 673 shares of the software maker’s stock valued at $66,000 after acquiring an additional 139 shares in the last quarter. Bridge City Capital LLC increased its stake in shares of Synaptics by 0.8% during the 1st quarter. Bridge City Capital LLC now owns 19,092 shares of the software maker’s stock worth $1,863,000 after purchasing an additional 149 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Synaptics by 0.3% during the 1st quarter. Russell Investments Group Ltd. now owns 48,665 shares of the software maker’s stock worth $4,748,000 after purchasing an additional 163 shares during the last quarter. Hedge funds and other institutional investors own 99.43% of the company’s stock.

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.