Synaptics (SYNA) Stock Rating Lowered by Zacks Investment Research

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Zacks Investment Research cut shares of Synaptics (NASDAQ:SYNA) from a strong-buy rating to a hold rating in a research report report published on Friday.

According to Zacks, “Synaptics is a leader in designing and marketing human interface solutions such as touchpads for notebook computers, capactive touch screen controllers for handsets and biometric fingerprint sensors for mobile devices. “

A number of other equities research analysts also recently weighed in on the stock. Needham & Company LLC reaffirmed a buy rating and issued a $45.00 target price (down from $60.00) on shares of Synaptics in a research note on Tuesday, March 19th. ValuEngine downgraded shares of Synaptics from a sell rating to a strong sell rating in a research note on Tuesday, March 19th. JPMorgan Chase & Co. lowered their target price on shares of Synaptics from $50.00 to $45.00 and set a neutral rating on the stock in a research note on Monday, March 18th. Mizuho downgraded shares of Synaptics from a buy rating to a neutral rating and lowered their target price for the company from $48.00 to $39.00 in a research note on Monday, March 18th. Finally, BidaskClub raised shares of Synaptics from a hold rating to a buy rating in a research note on Wednesday, March 13th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. Synaptics presently has an average rating of Hold and an average price target of $48.64.

Shares of SYNA opened at $32.68 on Friday. The company has a market capitalization of $1.13 billion, a P/E ratio of 16.51 and a beta of 0.91. The company has a current ratio of 2.64, a quick ratio of 2.15 and a debt-to-equity ratio of 0.65. Synaptics has a 1-year low of $31.65 and a 1-year high of $55.25.

Synaptics (NASDAQ:SYNA) last announced its earnings results on Thursday, February 7th. The software maker reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.62. The business had revenue of $425.50 million for the quarter, compared to the consensus estimate of $421.54 million. Synaptics had a net margin of 0.09% and a return on equity of 15.38%. Synaptics’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period last year, the firm posted $1.11 earnings per share. On average, analysts anticipate that Synaptics will post 2.94 EPS for the current fiscal year.

In other Synaptics news, insider Kermit Nolan sold 10,000 shares of the stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $41.49, for a total transaction of $414,900.00. Following the transaction, the insider now directly owns 65,611 shares in the company, valued at $2,722,200.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.70% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Oregon Public Employees Retirement Fund grew its position in Synaptics by 2.1% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 13,943 shares of the software maker’s stock valued at $519,000 after acquiring an additional 283 shares during the last quarter. Neuburgh Advisers LLC grew its position in Synaptics by 11.8% during the fourth quarter. Neuburgh Advisers LLC now owns 3,344 shares of the software maker’s stock valued at $124,000 after acquiring an additional 352 shares during the last quarter. Texas Permanent School Fund grew its position in Synaptics by 1.8% during the fourth quarter. Texas Permanent School Fund now owns 22,654 shares of the software maker’s stock valued at $843,000 after acquiring an additional 404 shares during the last quarter. Legal & General Group Plc grew its position in Synaptics by 1.5% during the third quarter. Legal & General Group Plc now owns 33,198 shares of the software maker’s stock valued at $1,515,000 after acquiring an additional 503 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its position in Synaptics by 7.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 8,982 shares of the software maker’s stock valued at $334,000 after acquiring an additional 633 shares during the last quarter. Institutional investors and hedge funds own 99.19% of the company’s stock.

Synaptics Company Profile

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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