Brokerages Set Synaptics Incorporated (NASDAQ:SYNA) PT at $97.33

Shares of Synaptics Incorporated (NASDAQ:SYNA) have been assigned a consensus rating of “Moderate Buy” from the nine ratings firms that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $97.33.

A number of research firms have recently issued reports on SYNA. Craig Hallum cut their price objective on Synaptics from $105.00 to $80.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Susquehanna dropped their price objective on shares of Synaptics from $110.00 to $95.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. KeyCorp downgraded shares of Synaptics from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. cut 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. Finally, Needham & Company LLC decreased their target price on Synaptics from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, November 8th.

Insider Activity at Synaptics

In related news, insider Vikram Gupta sold 2,731 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $80.00, for a total value of $218,480.00. Following the completion of the sale, the insider now directly owns 43,245 shares in the company, valued at $3,459,600. This represents a 5.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 5,609 shares of company stock valued at $448,720 in the last 90 days. 1.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Synaptics

A number of institutional investors have recently made changes to their positions in SYNA. GAMMA Investing LLC lifted its stake in shares of Synaptics by 261.8% in the third quarter. GAMMA Investing LLC now owns 369 shares of the software maker’s stock worth $29,000 after acquiring an additional 267 shares during the period. Quarry LP bought a new position in Synaptics during the 3rd quarter worth approximately $31,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Synaptics in the 2nd quarter worth approximately $67,000. Innealta Capital LLC acquired a new position in shares of Synaptics in the 2nd quarter worth approximately $83,000. Finally, CWM LLC boosted its stake in shares of Synaptics by 58.1% in the 3rd 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. Institutional investors own 99.43% of the company’s stock.

Synaptics Price Performance

Shares of SYNA opened at $74.64 on Thursday. The company has a market cap of $2.99 billion, a price-to-earnings ratio of 18.90 and a beta of 1.47. 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 company’s fifty day simple moving average is $73.89 and its 200 day simple moving average is $82.01. Synaptics has a 1-year low of $67.83 and a 1-year high of $121.37.

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.