Mizuho Lowers Synaptics (NASDAQ:SYNA) Price Target to $80.00

Synaptics (NASDAQ:SYNA) had its price objective dropped by analysts at Mizuho from $90.00 to $80.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the software maker’s stock. Mizuho’s price target points to a potential upside of 22.59% from the company’s current price.

A number of other equities research analysts have also recently commented on the company. Needham & Company LLC reissued a “buy” rating and issued a $90.00 target price on shares of Synaptics in a research note on Tuesday, February 4th. Rosenblatt Securities restated a “buy” rating and issued a $105.00 price objective on shares of Synaptics in a research note on Thursday, February 27th. Susquehanna lifted their price target on shares of Synaptics from $95.00 to $105.00 and gave the company a “positive” rating in a report on Wednesday, January 22nd. Finally, Craig Hallum raised shares of Synaptics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 29th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $95.00.

Synaptics Stock Performance

Shares of SYNA opened at $65.26 on Monday. The company has a quick ratio of 3.36, a current ratio of 3.88 and a debt-to-equity ratio of 0.60. The stock has a market cap of $2.56 billion, a P/E ratio of 15.43 and a beta of 1.55. The business’s 50 day moving average price is $72.34 and its 200-day moving average price is $74.63. Synaptics has a 52 week low of $60.75 and a 52 week high of $99.99.

Insider Buying and Selling at Synaptics

In other news, insider Ken Rizvi acquired 3,600 shares of Synaptics stock in a transaction on Monday, February 10th. The shares were acquired at an average price of $69.15 per share, with a total value of $248,940.00. Following the purchase, the insider now directly owns 27,630 shares in the company, valued at $1,910,614.50. The trade was a 14.98 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Synaptics

A number of hedge funds have recently bought and sold shares of the business. Louisiana State Employees Retirement System grew its position in Synaptics by 1.8% in the fourth quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the software maker’s stock worth $847,000 after acquiring an additional 200 shares in the last quarter. State of Michigan Retirement System boosted its holdings in shares of Synaptics by 2.1% in the 4th quarter. State of Michigan Retirement System now owns 9,533 shares of the software maker’s stock worth $728,000 after purchasing an additional 200 shares during the period. Arizona State Retirement System increased its position in shares of Synaptics by 1.8% during the 4th quarter. Arizona State Retirement System now owns 11,573 shares of the software maker’s stock valued at $883,000 after purchasing an additional 200 shares during the last quarter. Bridge City Capital LLC raised its holdings in Synaptics by 0.9% during the 4th quarter. Bridge City Capital LLC now owns 22,511 shares of the software maker’s stock valued at $1,718,000 after buying an additional 201 shares during the period. Finally, Inspire Advisors LLC lifted its position in Synaptics by 2.7% in the fourth quarter. Inspire Advisors LLC now owns 8,175 shares of the software maker’s stock worth $624,000 after buying an additional 212 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.