Synaptics (NASDAQ:SYNA) Price Target Raised to $105.00

Synaptics (NASDAQ:SYNA) had its price target lifted by equities researchers at Susquehanna from $95.00 to $105.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “positive” rating on the software maker’s stock. Susquehanna’s price target suggests a potential upside of 24.92% from the company’s previous close.

A number of other brokerages have also recently commented on SYNA. Needham & Company LLC lowered their target price on Synaptics from $95.00 to $90.00 and set a “buy” rating for the company in a report on Friday, November 8th. TD Cowen increased their price objective on Synaptics from $90.00 to $100.00 and gave the company a “buy” rating in a report on Friday, November 8th. KeyCorp downgraded Synaptics from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Finally, Rosenblatt Securities dropped their price objective on shares of Synaptics from $130.00 to $92.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $98.44.

Synaptics Trading Down 1.8 %

NASDAQ SYNA traded down $1.51 on Wednesday, reaching $84.06. 153,628 shares of the company were exchanged, compared to its average volume of 519,837. Synaptics has a fifty-two week low of $67.83 and a fifty-two week high of $115.85. The company has a current ratio of 4.49, a quick ratio of 4.02 and a debt-to-equity ratio of 0.66. The business’s fifty day moving average price is $78.51 and its 200 day moving average price is $77.95. The stock has a market capitalization of $3.37 billion, a P/E ratio of 21.28 and a beta of 1.44.

Insider Buying and Selling at Synaptics

In other Synaptics news, insider Vikram Gupta sold 411 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $81.63, for a total value of $33,549.93. Following the completion of the transaction, the insider now directly owns 40,795 shares in the company, valued at $3,330,095.85. This trade represents a 1.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Point72 Asset Management L.P. increased 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 worth $71,875,000 after buying an additional 809,712 shares during the period. Barclays PLC grew its position in Synaptics by 189.7% during the 3rd quarter. Barclays PLC now owns 81,330 shares of the software maker’s stock worth $6,309,000 after acquiring an additional 53,252 shares during the last quarter. BNP Paribas Financial Markets increased its position in Synaptics by 111.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 79,777 shares of the software maker’s stock valued at $6,189,000 after acquiring an additional 42,101 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Synaptics by 3.6% during the second quarter. Dimensional Fund Advisors LP now owns 907,347 shares of the software maker’s stock worth $80,027,000 after acquiring an additional 31,643 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Synaptics by 5.8% in the third quarter. Victory Capital Management Inc. now owns 577,523 shares of the software maker’s stock valued at $44,804,000 after buying an additional 31,565 shares during the period. 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.