Synaptics (NASDAQ:SYNA) Price Target Raised to $100.00 at TD Cowen

Synaptics (NASDAQ:SYNA) had its price target boosted by TD Cowen from $90.00 to $100.00 in a research note released on Friday morning, MarketBeat reports. TD Cowen currently has a buy rating on the software maker’s stock.

A number of other analysts also recently commented on the stock. Needham & Company LLC dropped their price target 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. JPMorgan Chase & Co. reduced their price objective on shares of Synaptics from $120.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Craig Hallum dropped their price target on Synaptics from $105.00 to $80.00 and set a “hold” rating on the stock in a report on Friday, August 9th. KeyCorp lowered Synaptics from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Finally, Susquehanna cut their target price on Synaptics from $110.00 to $95.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $97.33.

Synaptics Stock Performance

SYNA traded up $6.28 on Friday, hitting $80.92. 893,079 shares of the company’s stock were exchanged, compared to its average volume of 310,200. The company has a current ratio of 4.19, a quick ratio of 3.78 and a debt-to-equity ratio of 0.66. The stock has a fifty day moving average of $73.79 and a two-hundred day moving average of $82.46. Synaptics has a twelve month low of $67.83 and a twelve month high of $121.37. The firm has a market cap of $3.23 billion, a PE ratio of 20.49 and a beta of 1.47.

Synaptics (NASDAQ:SYNA) last posted its earnings results on Thursday, August 8th. The software maker reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.09. Synaptics had a negative return on equity of 0.54% and a net margin of 13.09%. The company had revenue of $247.40 million for the quarter, compared to analysts’ expectations of $245.17 million. During the same period last year, the business posted $0.01 earnings per share. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, research analysts anticipate that Synaptics will post 0.81 earnings per share for the current fiscal year.

Insider Buying and Selling at Synaptics

In related news, insider Vikram Gupta sold 1,008 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $80.00, for a total value of $80,640.00. Following the sale, the insider now owns 45,789 shares of the company’s stock, valued at $3,663,120. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold a total of 5,609 shares of company stock valued at $448,720 in the last ninety days. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Synaptics

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