Susquehanna Trims Synaptics (NASDAQ:SYNA) Target Price to $95.00

Synaptics (NASDAQ:SYNA) had its target price cut by Susquehanna from $110.00 to $95.00 in a research note published on Monday morning, Benzinga reports. They currently have a positive rating on the software maker’s stock.

A number of other brokerages also recently issued reports on SYNA. KeyCorp downgraded shares of Synaptics from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. reduced their price target on shares of Synaptics from $120.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Craig Hallum lowered their price objective on shares of Synaptics from $105.00 to $80.00 and set a “hold” rating for the company in a research report on Friday, August 9th. TD Cowen reduced their target price on Synaptics from $115.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Needham & Company LLC lowered their price target on Synaptics from $110.00 to $95.00 and set a “buy” rating for the company in a report on Friday, August 9th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $101.00.

Synaptics Stock Up 0.4 %

Shares of SYNA opened at $71.35 on Monday. The company has a current ratio of 4.19, a quick ratio of 3.78 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $2.85 billion, a PE ratio of 23.02 and a beta of 1.46. The firm’s 50 day moving average is $75.37 and its 200-day moving average is $83.93. Synaptics has a 12 month low of $67.83 and a 12 month high of $121.37.

Synaptics (NASDAQ:SYNA) last announced its quarterly earnings data on Thursday, August 8th. The software maker reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.09. The firm had revenue of $247.40 million during the quarter, compared to analysts’ expectations of $245.17 million. Synaptics had a negative return on equity of 0.54% and a net margin of 13.09%. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.01 EPS. Equities research analysts forecast that Synaptics will post 0.81 EPS for the current year.

Insiders Place Their Bets

In other news, insider Vikram Gupta sold 1,008 shares of Synaptics stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $80.00, for a total transaction of $80,640.00. Following the sale, the insider now directly owns 45,789 shares of the company’s stock, valued at approximately $3,663,120. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 5,609 shares of company stock valued at $448,720 in the last 90 days. Corporate insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Synaptics

Institutional investors have recently added to or reduced their stakes in the business. CWM LLC lifted its holdings in shares of Synaptics by 26.0% during the first quarter. CWM LLC now owns 673 shares of the software maker’s stock worth $66,000 after purchasing an additional 139 shares during the period. Cardinal Capital Management grew its position in shares of Synaptics by 26.3% in the 1st quarter. Cardinal Capital Management now owns 21,036 shares of the software maker’s stock valued at $2,052,000 after buying an additional 4,382 shares during the last quarter. Register Financial Advisors LLC acquired a new stake in shares of Synaptics in the first quarter valued at about $76,000. State of Michigan Retirement System increased its stake in shares of Synaptics by 2.1% in the first quarter. State of Michigan Retirement System now owns 9,633 shares of the software maker’s stock valued at $940,000 after buying an additional 200 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Synaptics by 2.0% during the first quarter. Principal Financial Group Inc. now owns 149,281 shares of the software maker’s stock worth $14,564,000 after acquiring an additional 2,888 shares during the last quarter. 99.43% of the stock is owned by institutional investors.

Synaptics Company Profile

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.