Rosenblatt Securities Reaffirms “Buy” Rating for Synaptics (NASDAQ:SYNA)

Synaptics (NASDAQ:SYNA)‘s stock had its “buy” rating restated by equities research analysts at Rosenblatt Securities in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $92.00 target price on the software maker’s stock. Rosenblatt Securities’ price objective would suggest a potential upside of 21.20% from the company’s previous close.

A number of other analysts have also recently commented on SYNA. KeyCorp cut Synaptics from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. 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 price objective on Synaptics from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of Synaptics in a research report on Wednesday, January 29th. Finally, Susquehanna boosted their price objective on Synaptics from $95.00 to $105.00 and gave the company a “positive” rating in a research report on Wednesday, January 22nd. Three 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 company’s stock. According to MarketBeat, Synaptics 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 $75.91 on Tuesday. 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 stock has a market cap of $3.04 billion, a PE ratio of 19.22 and a beta of 1.45. The stock has a 50-day moving average of $79.98 and a 200-day moving average of $77.39. Synaptics has a one year low of $67.83 and a one year high of $115.85.

Insiders Place Their Bets

In other Synaptics news, insider Vikram Gupta sold 411 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was 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 of the company’s stock, valued at $3,330,095.85. This represents a 1.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Synaptics

A number of large investors have recently bought and sold shares of the company. Louisiana State Employees Retirement System boosted its holdings in shares of Synaptics by 1.8% in the 4th quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the software maker’s stock valued at $847,000 after buying an additional 200 shares during the last quarter. Diversified Trust Co boosted its holdings in shares of Synaptics by 6.7% in the 3rd quarter. Diversified Trust Co now owns 3,997 shares of the software maker’s stock valued at $310,000 after buying an additional 251 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Synaptics by 261.8% in the 3rd quarter. GAMMA Investing LLC now owns 369 shares of the software maker’s stock valued at $29,000 after buying an additional 267 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Synaptics by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 4,547 shares of the software maker’s stock valued at $352,000 after buying an additional 310 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Synaptics by 0.4% in the 4th quarter. Principal Financial Group Inc. now owns 92,053 shares of the software maker’s stock valued at $7,025,000 after buying an additional 333 shares during the last quarter. Institutional investors and hedge funds 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.