Synaptics (NASDAQ:SYNA) Stock Price Down 5.3%

Synaptics Incorporated (NASDAQ:SYNA)’s share price dropped 5.3% during mid-day trading on Monday . The company traded as low as $70.87 and last traded at $71.12. Approximately 93,064 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 284,887 shares. The stock had previously closed at $75.12.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Needham & Company LLC decreased their price objective on shares of Synaptics from $125.00 to $110.00 and set a “buy” rating for the company in a report on Friday, May 10th. TD Cowen cut their price target on Synaptics from $135.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, May 10th. KeyCorp reduced their price target on shares of Synaptics from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Friday, May 10th. Finally, Wells Fargo & Company lowered their price target 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. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Synaptics currently has an average rating of “Moderate Buy” and an average target price of $117.67.

Synaptics Trading Down 5.4 %

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 stock has a market capitalization of $2.69 billion, a P/E ratio of -25.13 and a beta of 1.47. The firm’s 50-day simple moving average is $88.71 and its 200 day simple moving average is $94.76.

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

Institutional Trading of Synaptics

Several large investors have recently added to or reduced their stakes in the business. CWM LLC increased its position in Synaptics by 26.0% during the first quarter. CWM LLC now owns 673 shares of the software maker’s stock worth $66,000 after acquiring an additional 139 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new position in Synaptics during the 2nd quarter valued at about $67,000. Register Financial Advisors LLC acquired a new stake in Synaptics during the 1st quarter valued at $76,000. Innealta Capital LLC acquired a new stake in shares of Synaptics in the second quarter valued at $83,000. Finally, nVerses Capital LLC bought a new stake in shares of Synaptics during the second quarter valued at approximately $141,000. 99.43% of the stock is owned by 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.