Synaptics Incorporated (NASDAQ:SYNA) Receives $95.00 Consensus Target Price from Analysts

Synaptics Incorporated (NASDAQ:SYNA) has received a consensus rating of “Moderate Buy” from the nine research firms that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $95.00.

Several analysts have recently weighed in on the stock. Craig Hallum upgraded shares of Synaptics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 price objective on shares of Synaptics in a report on Tuesday, February 4th. Susquehanna upped their target price on Synaptics from $95.00 to $105.00 and gave the company a “positive” rating in a research report on Wednesday, January 22nd. Mizuho cut their target price on shares of Synaptics from $90.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, March 24th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $105.00 price objective on shares of Synaptics in a research report on Thursday, February 27th.

Insider Buying and Selling at Synaptics

In other news, insider Ken Rizvi bought 3,600 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were bought at an average cost of $69.15 per share, for a total transaction of $248,940.00. Following the completion of the transaction, the insider now owns 27,630 shares in the company, valued at $1,910,614.50. This trade represents a 14.98 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SYNA. Barclays PLC raised its position in Synaptics by 189.7% during the third 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 during the last quarter. Vanguard Group Inc. raised its position in shares of Synaptics by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 4,907,880 shares of the software maker’s stock worth $374,569,000 after purchasing an additional 93,155 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Synaptics by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 471,583 shares of the software maker’s stock valued at $35,991,000 after buying an additional 23,702 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Synaptics by 0.4% during the 4th quarter. Principal Financial Group Inc. now owns 92,053 shares of the software maker’s stock valued at $7,025,000 after buying an additional 333 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in Synaptics during the fourth quarter worth $603,000. Institutional investors and hedge funds own 99.43% of the company’s stock.

Synaptics Price Performance

SYNA stock opened at $49.37 on Friday. The business has a 50 day moving average price of $62.65 and a 200 day moving average price of $72.20. 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 $1.93 billion, a price-to-earnings ratio of 11.67 and a beta of 1.60. Synaptics has a fifty-two week low of $41.80 and a fifty-two week high of $98.00.

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.