Synaptics (SYNA) Rating Increased to Buy at BidaskClub

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Synaptics (NASDAQ:SYNA) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Wednesday.

Several other equities analysts have also recently commented on the stock. ValuEngine upgraded shares of Synaptics from a “sell” rating to a “hold” rating in a research note on Friday, March 1st. Zacks Investment Research upgraded shares of Synaptics from a “hold” rating to a “strong-buy” rating and set a $47.00 target price for the company in a research note on Thursday, February 14th. Rosenblatt Securities reiterated a “hold” rating on shares of Synaptics in a research note on Saturday, February 9th. Mizuho reiterated a “buy” rating on shares of Synaptics in a research note on Friday, February 8th. Finally, Needham & Company LLC upped their target price on shares of Synaptics to $60.00 and gave the company a “buy” rating in a research note on Friday, February 8th. Six research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $51.91.

NASDAQ SYNA opened at $42.38 on Wednesday. The company has a quick ratio of 2.15, a current ratio of 2.64 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 21.40 and a beta of 0.91. Synaptics has a 12-month low of $33.54 and a 12-month high of $55.25.

Synaptics (NASDAQ:SYNA) last posted its earnings results on Thursday, February 7th. The software maker reported $1.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.62. The firm had revenue of $425.50 million during the quarter, compared to analysts’ expectations of $421.54 million. Synaptics had a net margin of 0.09% and a return on equity of 15.38%. The company’s revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.11 earnings per share. As a group, analysts anticipate that Synaptics will post 3.12 EPS for the current fiscal year.

In other Synaptics news, insider Kermit Nolan sold 10,000 shares of the business’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $41.49, for a total value of $414,900.00. Following the sale, the insider now owns 65,611 shares of the company’s stock, valued at approximately $2,722,200.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.70% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. NumerixS Investment Technologies Inc bought a new stake in shares of Synaptics in the 4th quarter worth about $38,000. BlueMountain Capital Management LLC acquired a new position in Synaptics during the 3rd quarter valued at about $104,000. Neuburgh Advisers LLC lifted its position in Synaptics by 11.8% during the 4th quarter. Neuburgh Advisers LLC now owns 3,344 shares of the software maker’s stock valued at $124,000 after purchasing an additional 352 shares during the period. Dupont Capital Management Corp acquired a new position in Synaptics during the 4th quarter valued at about $151,000. Finally, PNC Financial Services Group Inc. lifted its position in Synaptics by 83.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,443 shares of the software maker’s stock valued at $157,000 after purchasing an additional 1,566 shares during the period. 97.83% of the stock is currently owned by institutional investors and hedge funds.

About Synaptics

Synaptics Incorporated develops, markets, and sells intuitive human interface solutions for electronic devices and products worldwide. The company offers its products and solutions for smartphones, tablets, and touchscreen applications, as well as mobile, handheld, wireless, and entertainment devices; notebook applications; and other personal computer (PC) product applications.

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Analyst Recommendations for Synaptics (NASDAQ:SYNA)

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