Synaptics (NASDAQ:SYNA) Trading Down 4.3%

Synaptics Incorporated (NASDAQ:SYNA) traded down 4.3% on Thursday . The stock traded as low as $83.59 and last traded at $83.59. 40,133 shares traded hands during trading, a decline of 86% from the average session volume of 281,448 shares. The stock had previously closed at $87.32.

Analyst Ratings Changes

SYNA has been the subject of a number of research reports. KeyCorp decreased their price objective on Synaptics from $135.00 to $115.00 and set an “overweight” rating for the company in a report on Friday, May 10th. Needham & Company LLC lowered their price target on shares of Synaptics from $125.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, May 10th. TD Cowen decreased their target price on shares of Synaptics from $135.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Finally, Wells Fargo & Company dropped their price target on Synaptics from $115.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Friday, May 10th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Synaptics has a consensus rating of “Moderate Buy” and a consensus price target of $117.67.

Synaptics Trading Down 7.7 %

The firm has a market capitalization of $2.97 billion, a PE ratio of -27.72 and a beta of 1.47. The firm has a 50 day simple moving average of $89.97 and a 200 day simple moving average of $95.54. The company has a current ratio of 5.32, a quick ratio of 4.78 and a debt-to-equity ratio of 0.78.

Synaptics (NASDAQ:SYNA) last released its quarterly earnings data on Thursday, May 9th. The software maker reported $0.53 EPS for the quarter, beating the consensus estimate of $0.49 by $0.04. The company had revenue of $237.30 million for the quarter, compared to analysts’ expectations of $235.17 million. Synaptics had a negative return on equity of 0.90% and a negative net margin of 11.30%. Synaptics’s revenue was down 27.3% compared to the same quarter last year. During the same period last year, the firm posted $1.14 earnings per share. Equities analysts expect that Synaptics Incorporated will post -0.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Synaptics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CWM LLC lifted its holdings in shares of Synaptics by 26.0% during the 1st quarter. CWM LLC now owns 673 shares of the software maker’s stock valued at $66,000 after buying an additional 139 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Synaptics in the second quarter worth about $67,000. Register Financial Advisors LLC bought a new stake in shares of Synaptics during the 1st quarter valued at about $76,000. Innealta Capital LLC purchased a new stake in shares of Synaptics during the 2nd quarter valued at about $83,000. Finally, nVerses Capital LLC bought a new position in shares of Synaptics in the 2nd quarter worth approximately $141,000. Hedge funds and other institutional investors own 99.43% of the company’s stock.

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.