Synaptics Incorporated (NASDAQ:SYNA) Receives $96.88 Consensus Target Price from Brokerages

Shares of Synaptics Incorporated (NASDAQ:SYNA) have been assigned an average rating of “Moderate Buy” from the eight research firms that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $96.88.

A number of brokerages recently weighed in on SYNA. Rosenblatt Securities reissued a “buy” rating and set a $105.00 price objective on shares of Synaptics in a report on Thursday, February 27th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 price objective on shares of Synaptics in a research report on Tuesday, February 4th. Susquehanna lifted their price objective on Synaptics from $95.00 to $105.00 and gave the stock a “positive” rating in a research report on Wednesday, January 22nd. Finally, Craig Hallum upgraded Synaptics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 29th.

Synaptics Stock Performance

Shares of NASDAQ SYNA opened at $64.10 on Wednesday. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of 15.15 and a beta of 1.56. The company has a current ratio of 3.88, a quick ratio of 3.36 and a debt-to-equity ratio of 0.60. Synaptics has a 1-year low of $60.75 and a 1-year high of $100.50. The stock’s 50-day moving average is $72.74 and its 200 day moving average is $74.73.

Insider Buying and Selling at Synaptics

In other Synaptics news, insider Ken Rizvi purchased 3,600 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was purchased at an average price of $69.15 per share, for a total transaction of $248,940.00. Following the completion of the purchase, the insider now directly owns 27,630 shares of the company’s stock, valued at $1,910,614.50. This trade represents a 14.98 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is owned by company insiders.

Institutional Trading of Synaptics

Large investors have recently modified their holdings of the company. Brown Brothers Harriman & Co. bought a new stake in shares of Synaptics in the fourth quarter worth $31,000. Quarry LP bought a new stake in Synaptics during the third quarter valued at about $31,000. Menard Financial Group LLC bought a new position in shares of Synaptics in the fourth quarter worth about $37,000. Aster Capital Management DIFC Ltd bought a new position in shares of Synaptics in the fourth quarter worth about $43,000. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of Synaptics in the fourth quarter worth about $72,000. Institutional investors own 99.43% of the company’s stock.

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.