Synaptics’ (SYNA) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Synaptics (NASDAQ:SYNA) in a research report report published on Wednesday,Benzinga reports. Needham & Company LLC currently has a $90.00 price target on the software maker’s stock.

Other equities analysts also recently issued reports about the stock. KeyCorp downgraded shares of Synaptics from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Susquehanna raised their target price on shares of Synaptics from $95.00 to $105.00 and gave the stock a “positive” rating in a report on Wednesday, January 22nd. Rosenblatt Securities cut their price target on Synaptics from $130.00 to $92.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Finally, TD Cowen increased their price target on Synaptics from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $98.44.

Synaptics Stock Performance

Shares of NASDAQ SYNA opened at $87.87 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.49 and a quick ratio of 4.02. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of 22.25 and a beta of 1.44. The stock’s fifty day moving average price is $79.67 and its two-hundred day moving average price is $77.79. Synaptics has a one year low of $67.83 and a one year high of $115.85.

Insider Buying and Selling at Synaptics

In related news, insider Vikram Gupta sold 411 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $81.63, for a total transaction of $33,549.93. Following the completion of the sale, the insider now directly owns 40,795 shares in the company, valued at $3,330,095.85. This represents a 1.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC increased its position in Synaptics by 1,121.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 18,021 shares of the software maker’s stock worth $1,589,000 after purchasing an additional 16,546 shares in the last quarter. Squarepoint Ops LLC bought a new stake in Synaptics during the 2nd quarter worth $941,000. Algert Global LLC grew its holdings in shares of Synaptics by 27.1% during the second quarter. Algert Global LLC now owns 35,047 shares of the software maker’s stock worth $3,091,000 after purchasing an additional 7,467 shares during the last quarter. SG Americas Securities LLC grew its holdings in Synaptics by 269.9% during the 3rd quarter. SG Americas Securities LLC now owns 12,251 shares of the software maker’s stock worth $950,000 after acquiring an additional 8,939 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its position in Synaptics by 48.6% in the 3rd quarter. Handelsbanken Fonder AB now owns 12,537 shares of the software maker’s stock valued at $973,000 after acquiring an additional 4,100 shares during the period. Institutional investors and hedge funds 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.