Synaptics (NASDAQ:SYNA) Given Buy Rating at Rosenblatt Securities

Rosenblatt Securities reaffirmed their buy rating on shares of Synaptics (NASDAQ:SYNA) in a report released on Tuesday,Benzinga reports. The firm currently has a $92.00 target price on the software maker’s stock.

Other equities research analysts have also issued research reports about the stock. Needham & Company LLC restated a “buy” rating and issued a $90.00 price target on shares of Synaptics in a research note on Wednesday, January 29th. KeyCorp lowered shares of Synaptics from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Susquehanna raised their price target on shares of Synaptics from $95.00 to $105.00 and gave the company a “positive” rating in a research note on Wednesday, January 22nd. Craig Hallum upgraded shares of Synaptics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 29th. Finally, TD Cowen raised their price target on shares of Synaptics from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $98.44.

Synaptics Price Performance

SYNA opened at $74.82 on Tuesday. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of 18.94 and a beta of 1.45. Synaptics has a fifty-two week low of $67.83 and a fifty-two week high of $115.85. The company’s 50-day moving average price is $79.91 and its 200 day moving average price is $77.37. The company has a quick ratio of 4.02, a current ratio of 4.49 and a debt-to-equity ratio of 0.66.

Insider Activity

In related news, insider Vikram Gupta sold 411 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were 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 approximately $3,330,095.85. This trade represents a 1.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.30% of the company’s stock.

Institutional Trading of Synaptics

A number of large investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new stake in Synaptics during the fourth quarter worth approximately $371,000. Arizona State Retirement System boosted its stake in Synaptics by 1.8% in the 4th quarter. Arizona State Retirement System now owns 11,573 shares of the software maker’s stock worth $883,000 after purchasing an additional 200 shares during the period. Charles Schwab Investment Management Inc. boosted 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 worth $35,991,000 after purchasing an additional 23,702 shares during the period. State of Michigan Retirement System boosted its stake in Synaptics by 2.1% in the 4th quarter. State of Michigan Retirement System now owns 9,533 shares of the software maker’s stock worth $728,000 after purchasing an additional 200 shares during the period. Finally, Jones Financial Companies Lllp boosted its stake in Synaptics by 37.8% in the 4th quarter. Jones Financial Companies Lllp now owns 19,829 shares of the software maker’s stock worth $1,513,000 after purchasing an additional 5,439 shares during the period. 99.43% of the stock is currently owned by institutional investors.

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.