Synaptics (NASDAQ:SYNA) Stock Rating Lowered by KeyCorp

KeyCorp lowered shares of Synaptics (NASDAQ:SYNA) from an overweight rating to a sector weight rating in a report issued on Tuesday morning, Marketbeat.com reports.

A number of other research analysts have also recently commented on the company. TD Cowen decreased their price objective on Synaptics from $115.00 to $90.00 and set a buy rating on the stock in a report on Friday, August 9th. Craig Hallum decreased their price target on Synaptics from $105.00 to $80.00 and set a hold rating on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. cut their price objective on Synaptics from $120.00 to $100.00 and set an overweight rating for the company in a research report on Friday, August 9th. Finally, Needham & Company LLC decreased their target price on shares of Synaptics from $110.00 to $95.00 and set a buy rating on the stock in a research report on Friday, August 9th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Synaptics has a consensus rating of Moderate Buy and a consensus target price of $105.44.

Synaptics Stock Up 1.4 %

Shares of SYNA opened at $73.20 on Tuesday. Synaptics has a 52-week low of $67.83 and a 52-week high of $121.37. The company has a quick ratio of 3.78, a current ratio of 4.19 and a debt-to-equity ratio of 0.66. The stock has a fifty day simple moving average of $75.20 and a two-hundred day simple moving average of $85.07. The company has a market capitalization of $2.92 billion, a PE ratio of 23.61 and a beta of 1.46.

Synaptics (NASDAQ:SYNA) last released its quarterly earnings data on Thursday, August 8th. The software maker reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.09. The firm had revenue of $247.40 million during the quarter, compared to analysts’ expectations of $245.17 million. Synaptics had a net margin of 13.09% and a negative return on equity of 0.54%. Synaptics’s revenue was up 8.8% compared to the same quarter last year. During the same period last year, the business earned $0.01 earnings per share. As a group, equities analysts forecast that Synaptics will post 0.72 EPS for the current year.

Insider Activity at Synaptics

In other Synaptics news, insider Vikram Gupta sold 1,008 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $80.00, for a total transaction of $80,640.00. Following the sale, the insider now directly owns 45,789 shares in the company, valued at $3,663,120. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 5,609 shares of company stock worth $448,720 in the last three months. 1.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Synaptics

Several institutional investors have recently modified their holdings of the business. Quantbot Technologies LP acquired a new stake in shares of Synaptics in the first quarter valued at $586,000. CANADA LIFE ASSURANCE Co increased its holdings in Synaptics by 27.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 28,815 shares of the software maker’s stock worth $2,807,000 after purchasing an additional 6,276 shares during the period. Point72 Asset Management L.P. raised its position in Synaptics by 15,571.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 814,912 shares of the software maker’s stock valued at $71,875,000 after purchasing an additional 809,712 shares in the last quarter. Emerald Mutual Fund Advisers Trust boosted its stake in shares of Synaptics by 88.7% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 160,993 shares of the software maker’s stock valued at $14,200,000 after buying an additional 75,680 shares during the period. Finally, Squarepoint Ops LLC purchased a new position in shares of Synaptics in the 2nd quarter valued at about $941,000. Institutional investors and hedge funds own 99.43% of the company’s stock.

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.