Brokerages Set Synaptics Incorporated (NASDAQ:SYNA) Target Price at $123.91

Synaptics Incorporated (NASDAQ:SYNA) has been assigned an average recommendation of “Hold” from the fourteen brokerages that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $123.9091.

Several equities analysts recently commented on the company. Barclays restated an “equal weight” rating and set a $135.00 target price (up from $110.00) on shares of Synaptics in a research report on Friday, June 26th. Zacks Research raised Synaptics from a “hold” rating to a “strong-buy” rating in a report on Monday, August 17th. Craig Hallum set a $105.00 price target on Synaptics in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft lowered Synaptics from a “buy” rating to a “hold” rating and set a $125.00 price objective for the company. in a report on Monday, June 29th. Finally, Weiss Ratings cut shares of Synaptics from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th.

Insiders Place Their Bets

In other news, insider Lisa Bodensteiner sold 6,056 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $103.62, for a total transaction of $627,522.72. Following the sale, the insider owned 78,634 shares in the company, valued at approximately $8,148,055.08. This trade represents a 7.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Vikram Gupta sold 4,277 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $103.65, for a total transaction of $443,311.05. Following the completion of the transaction, the insider owned 103,468 shares of the company’s stock, valued at $10,724,458.20. This trade represents a 3.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 15,867 shares of company stock valued at $1,624,996 in the last quarter. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SYNA. Corient Private Wealth LP purchased a new position in Synaptics in the 2nd quarter worth approximately $239,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Synaptics during the second quarter valued at approximately $593,000. California State Teachers Retirement System boosted its stake in shares of Synaptics by 11,977.6% during the second quarter. California State Teachers Retirement System now owns 5,530,471 shares of the software maker’s stock valued at $687,050,000 after purchasing an additional 5,484,680 shares during the period. Syon Capital LLC bought a new position in shares of Synaptics in the second quarter worth approximately $231,000. Finally, Headlands Technologies LLC bought a new position in shares of Synaptics in the second quarter worth approximately $398,000. 99.43% of the stock is currently owned by institutional investors.

Synaptics Price Performance

Shares of NASDAQ:SYNA opened at $95.08 on Wednesday. The company has a 50 day moving average of $113.13 and a 200 day moving average of $103.68. The company has a current ratio of 1.12, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43. The stock has a market cap of $3.72 billion, a P/E ratio of -7.52 and a beta of 1.99. Synaptics has a 12 month low of $58.28 and a 12 month high of $149.11.

Synaptics (NASDAQ:SYNA) last posted its earnings results on Thursday, August 6th. The software maker reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.02. The business had revenue of $308.00 million for the quarter, compared to analysts’ expectations of $305.32 million. Synaptics had a negative net margin of 41.00% and a positive return on equity of 4.37%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.01 EPS. As a group, sell-side analysts forecast that Synaptics will post 1.98 EPS for the current fiscal year.

Synaptics Company Profile

Synaptics Incorporated is a global developer and supplier of human interface solutions for computing, networking, communications, and entertainment devices. The company specializes in the design, development and integration of custom chips and software that enable intuitive, natural user interactions. Synaptics solutions support touch, display, audio and biometrics functions, facilitating seamless human-to-machine interfaces across a broad range of end markets.

Key product offerings include touch controllers for laptops and tablets, capacitive touchscreens and display drivers for mobile devices, fingerprint sensors and secure authentication modules, as well as advanced audio processing and voice enhancement technologies.