Analysts Set Synaptics Incorporated (NASDAQ:SYNA) Price Target at $97.33

Shares of Synaptics Incorporated (NASDAQ:SYNA) have earned an average recommendation of “Moderate Buy” from the nine brokerages that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $97.33.

Several research analysts have commented on 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 decreased their target price on shares of Synaptics from $110.00 to $95.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. TD Cowen boosted their target price on Synaptics from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Rosenblatt Securities dropped their price objective 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, Needham & Company LLC decreased their target price on shares of Synaptics from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, November 8th.

Insider Transactions at Synaptics

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

Institutional Investors Weigh In On Synaptics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in Synaptics by 261.8% during the third quarter. GAMMA Investing LLC now owns 369 shares of the software maker’s stock valued at $29,000 after buying an additional 267 shares during the period. Quarry LP bought a new position in shares of Synaptics in the 3rd quarter worth about $31,000. CWM LLC lifted its position in Synaptics by 58.1% during the 3rd quarter. CWM LLC now owns 1,151 shares of the software maker’s stock valued at $89,000 after acquiring an additional 423 shares during the period. Van ECK Associates Corp bought a new stake in Synaptics during the third quarter worth about $132,000. Finally, nVerses Capital LLC grew its holdings in Synaptics by 75.0% in the third quarter. nVerses Capital LLC now owns 2,800 shares of the software maker’s stock worth $217,000 after purchasing an additional 1,200 shares during the period. 99.43% of the stock is owned by hedge funds and other institutional investors.

Synaptics Price Performance

Shares of Synaptics stock opened at $81.17 on Friday. The business’s 50-day moving average price is $77.22 and its 200-day moving average price is $78.47. The firm has a market capitalization of $3.25 billion, a PE ratio of 20.55 and a beta of 1.44. Synaptics has a 12 month low of $67.83 and a 12 month high of $115.85. The company has a current ratio of 4.49, a quick ratio of 4.02 and a debt-to-equity ratio of 0.66.

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.