Susquehanna Forecasts Strong Price Appreciation for Synaptics (NASDAQ:SYNA) Stock

Synaptics (NASDAQ:SYNA) had its price objective hoisted by equities researchers at Susquehanna from $95.00 to $105.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “positive” rating on the software maker’s stock. Susquehanna’s target price would indicate a potential upside of 24.92% from the stock’s current price.

A number of other analysts also recently weighed in on SYNA. Rosenblatt Securities decreased their target price on shares of Synaptics from $130.00 to $92.00 and set a “buy” rating for the company in a research report on Friday, November 8th. KeyCorp downgraded shares of Synaptics from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Needham & Company LLC cut their target price on Synaptics from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Finally, TD Cowen lifted their target price on shares of 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.44.

Synaptics Price Performance

SYNA traded down $1.51 during trading on Wednesday, hitting $84.06. 153,628 shares of the stock traded hands, compared to its average volume of 519,837. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.49 and a quick ratio of 4.02. Synaptics has a twelve month low of $67.83 and a twelve month high of $115.85. The company has a market cap of $3.37 billion, a price-to-earnings ratio of 21.28 and a beta of 1.44. The business has a 50 day moving average price of $78.51 and a 200 day moving average price of $77.95.

Insider Buying and Selling at Synaptics

In other news, insider Vikram Gupta sold 411 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $81.63, for a total value of $33,549.93. Following the transaction, the insider now owns 40,795 shares of the company’s stock, valued at approximately $3,330,095.85. The trade was a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. increased its position in shares of Synaptics by 15,571.4% during the second quarter. Point72 Asset Management L.P. now owns 814,912 shares of the software maker’s stock worth $71,875,000 after acquiring an additional 809,712 shares during the period. Barclays PLC lifted its holdings in shares of Synaptics by 189.7% during the 3rd quarter. Barclays PLC now owns 81,330 shares of the software maker’s stock valued at $6,309,000 after purchasing an additional 53,252 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Synaptics by 111.7% during the third quarter. BNP Paribas Financial Markets now owns 79,777 shares of the software maker’s stock worth $6,189,000 after acquiring an additional 42,101 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Synaptics by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 907,347 shares of the software maker’s stock worth $80,027,000 after buying an additional 31,643 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in Synaptics by 5.8% during the 3rd quarter. Victory Capital Management Inc. now owns 577,523 shares of the software maker’s stock valued at $44,804,000 after purchasing an additional 31,565 shares during the last quarter. Hedge funds and other institutional investors 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.