Synaptics Incorporated (NASDAQ:SYNA) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Synaptics Incorporated (NASDAQ:SYNA) have been given a consensus recommendation of “Moderate Buy” by the nine brokerages that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $97.33.

A number of brokerages have issued reports on SYNA. Susquehanna cut their target price on 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 Synaptics from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. TD Cowen raised their target price on Synaptics from $90.00 to $100.00 and gave the company a “buy” rating in a report on Friday, November 8th. Rosenblatt Securities cut their price target 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. Finally, Needham & Company LLC reduced their price target on shares of Synaptics from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, November 8th.

Synaptics Price Performance

Shares of SYNA opened at $82.48 on Friday. The firm has a 50-day simple moving average of $76.76 and a two-hundred day simple moving average of $78.81. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.49 and a quick ratio of 4.02. Synaptics has a 1-year low of $67.83 and a 1-year high of $115.85. The stock has a market cap of $3.30 billion, a PE ratio of 20.88 and a beta of 1.45.

Insider Buying and Selling

In other news, insider Vikram Gupta sold 411 shares of Synaptics stock in a transaction 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 of the company’s stock, valued at approximately $3,330,095.85. The trade was a 1.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.

Institutional Trading of Synaptics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC raised its position in shares of 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 in the last quarter. XTX Topco Ltd purchased a new position in Synaptics in the third quarter valued at approximately $227,000. iSAM Funds UK Ltd acquired a new stake in Synaptics during the third quarter worth approximately $422,000. Quarry LP purchased a new stake in shares of Synaptics during the 3rd quarter worth approximately $31,000. Finally, Petrus Trust Company LTA acquired a new position in shares of Synaptics in the 3rd quarter valued at $844,000. 99.43% of the stock is currently owned by institutional investors and hedge funds.

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.