Synaptics (NASDAQ:SYNA) Shares Gap Down – Here’s What Happened

Shares of Synaptics Incorporated (NASDAQ:SYNA) gapped down prior to trading on Tuesday . The stock had previously closed at $85.05, but opened at $82.14. Synaptics shares last traded at $75.32, with a volume of 415,177 shares traded.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SYNA shares. Craig Hallum raised Synaptics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 29th. TD Cowen boosted their target price on shares of Synaptics from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Rosenblatt Securities reiterated a “buy” rating and set a $92.00 target price on shares of Synaptics in a research report on Tuesday. Susquehanna boosted their target price on shares of Synaptics from $95.00 to $105.00 and gave the company a “positive” rating in a research report on Wednesday, January 22nd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of Synaptics in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.44.

Synaptics Stock Performance

The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.02 and a current ratio of 4.49. The stock has a market cap of $2.94 billion, a P/E ratio of 18.59 and a beta of 1.45. The company’s 50 day moving average price is $80.14 and its 200-day moving average price is $77.50.

Insider Transactions at Synaptics

In related news, insider Vikram Gupta sold 411 shares of the stock in a transaction dated 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 transaction, the insider now owns 40,795 shares in the company, valued at approximately $3,330,095.85. This represents a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Synaptics

Several institutional investors have recently added to or reduced their stakes in SYNA. TimesSquare Capital Management LLC grew its position in Synaptics by 46.0% during the fourth quarter. TimesSquare Capital Management LLC now owns 526,335 shares of the software maker’s stock valued at $40,170,000 after buying an additional 165,866 shares during the period. Peregrine Capital Management LLC lifted its holdings in Synaptics by 210.0% during the fourth quarter. Peregrine Capital Management LLC now owns 204,829 shares of the software maker’s stock valued at $15,633,000 after purchasing an additional 138,748 shares during the last quarter. Barclays PLC lifted its holdings in Synaptics by 189.7% during the third quarter. Barclays PLC now owns 81,330 shares of the software maker’s stock valued at $6,309,000 after purchasing an additional 53,252 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Synaptics by 111.7% in the third quarter. BNP Paribas Financial Markets now owns 79,777 shares of the software maker’s stock worth $6,189,000 after buying an additional 42,101 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Synaptics by 5.8% in the third quarter. Victory Capital Management Inc. now owns 577,523 shares of the software maker’s stock worth $44,804,000 after buying an additional 31,565 shares in the last quarter. 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.