Synaptics (NASDAQ:SYNA) Upgraded to “Strong-Buy” at Craig Hallum

Craig Hallum upgraded shares of Synaptics (NASDAQ:SYNA) from a hold rating to a strong-buy rating in a report published on Wednesday,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on SYNA. Needham & Company LLC restated a “buy” rating and set a $90.00 price objective on shares of Synaptics in a research note on Wednesday. KeyCorp lowered shares of Synaptics from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Susquehanna raised their price objective on shares of Synaptics from $95.00 to $105.00 and gave the company a “positive” rating in a research note on Wednesday, January 22nd. Rosenblatt Securities cut their target price on Synaptics from $130.00 to $92.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Finally, TD Cowen increased their price target on Synaptics from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.44.

Synaptics Stock Performance

Shares of SYNA stock opened at $86.16 on Wednesday. Synaptics has a 12-month low of $67.83 and a 12-month high of $115.85. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.49 and a quick ratio of 4.02. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of 21.81 and a beta of 1.44. The business has a 50 day simple moving average of $79.90 and a 200 day simple moving average of $77.85.

Insider Activity

In related news, insider Vikram Gupta sold 411 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $81.63, for a total transaction of $33,549.93. Following the completion of the sale, the insider now directly owns 40,795 shares in the company, valued at approximately $3,330,095.85. This trade represents a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Synaptics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its stake in shares of Synaptics by 261.8% during the 3rd quarter. GAMMA Investing LLC now owns 369 shares of the software maker’s stock worth $29,000 after acquiring an additional 267 shares in the last quarter. Quarry LP bought a new stake in Synaptics during the third quarter worth approximately $31,000. CWM LLC grew its holdings in Synaptics by 58.1% during the third quarter. CWM LLC now owns 1,151 shares of the software maker’s stock valued at $89,000 after purchasing an additional 423 shares during the last quarter. Van ECK Associates Corp bought a new position in shares of Synaptics in the third quarter valued at approximately $132,000. Finally, KBC Group NV lifted its stake in shares of Synaptics by 87.4% in the fourth quarter. KBC Group NV now owns 1,795 shares of the software maker’s stock worth $137,000 after buying an additional 837 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.