Mizuho Downgrades Synaptics Incorporated (SYNA) to Neutral

Synaptics Incorporated (NASDAQ:SYNA) was downgraded by equities researchers at Mizuho from a “buy” rating to a “neutral” rating in a report released on Monday. They currently have a $42.00 target price on the software maker’s stock, down from their previous target price of $60.00. Mizuho’s price objective would indicate a potential upside of 13.61% from the stock’s previous close.

SYNA has been the topic of a number of other reports. Pacific Crest reiterated an “equal weight” rating on shares of Synaptics in a research report on Tuesday, June 20th. Needham & Company LLC restated a “buy” rating and issued a $55.00 target price (down previously from $65.00) on shares of Synaptics in a report on Friday, August 4th. CIBC restated an “underperform” rating and issued a $35.00 target price (down previously from $45.00) on shares of Synaptics in a report on Tuesday, August 22nd. BidaskClub cut shares of Synaptics from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Finally, Craig Hallum upgraded shares of Synaptics from a “hold” rating to a “buy” rating and cut their target price for the stock from $62.00 to $55.00 in a report on Friday, August 4th. Seven research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. Synaptics currently has an average rating of “Hold” and an average price target of $52.09.

Shares of Synaptics (NASDAQ SYNA) opened at 36.97 on Monday. The company’s 50-day moving average is $39.50 and its 200 day moving average is $49.21. The firm has a market capitalization of $1.25 billion, a P/E ratio of 26.99 and a beta of 1.21. Synaptics has a 52-week low of $36.64 and a 52-week high of $69.45.

Synaptics (NASDAQ:SYNA) last issued its quarterly earnings results on Thursday, August 3rd. The software maker reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. Synaptics had a net margin of 2.84% and a return on equity of 16.51%. The business had revenue of $426.50 million for the quarter, compared to analysts’ expectations of $426.49 million. During the same period last year, the business earned $0.46 earnings per share. The business’s quarterly revenue was up 31.7% on a year-over-year basis. Analysts expect that Synaptics will post $4.48 EPS for the current fiscal year.

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Hedge funds have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA lifted its stake in Synaptics by 64.9% in the second quarter. BNP Paribas Arbitrage SA now owns 20,645 shares of the software maker’s stock worth $1,068,000 after acquiring an additional 8,126 shares during the period. Artemis Investment Management LLP lifted its stake in Synaptics by 2,784.7% in the second quarter. Artemis Investment Management LLP now owns 61,791 shares of the software maker’s stock worth $3,195,000 after acquiring an additional 59,649 shares during the period. First Trust Advisors LP lifted its stake in Synaptics by 55.6% in the first quarter. First Trust Advisors LP now owns 36,290 shares of the software maker’s stock worth $1,797,000 after acquiring an additional 12,968 shares during the period. Chicago Equity Partners LLC purchased a new stake in Synaptics in the second quarter worth $879,000. Finally, OppenheimerFunds Inc. lifted its stake in Synaptics by 0.5% in the f

SYNA has been the topic of a number of other reports. Pacific Crest reiterated an “equal weight” rating on shares of Synaptics in a research report on Tuesday, June 20th. Needham & Company LLC restated a “buy” rating and issued a $55.00 target price (down previously from $65.00) on shares of Synaptics in a report on Friday, August 4th. CIBC restated an “underperform” rating and issued a $35.00 target price (down previously from $45.00) on shares of Synaptics in a report on Tuesday, August 22nd. BidaskClub cut shares of Synaptics from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Finally, Craig Hallum upgraded shares of Synaptics from a “hold” rating to a “buy” rating and cut their target price for the stock from $62.00 to $55.00 in a report on Friday, August 4th. Seven research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. Synaptics currently has an average rating of “Hold” and an average price target of $52.09.

Shares of Synaptics (NASDAQ SYNA) opened at 36.97 on Monday. The company’s 50-day moving average is $39.50 and its 200 day moving average is $49.21. The firm has a market capitalization of $1.25 billion, a P/E ratio of 26.99 and a beta of 1.21. Synaptics has a 52-week low of $36.64 and a 52-week high of $69.45.

Synaptics (NASDAQ:SYNA) last issued its quarterly earnings results on Thursday, August 3rd. The software maker reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.11. Synaptics had a net margin of 2.84% and a return on equity of 16.51%. The business had revenue of $426.50 million for the quarter, compared to analysts’ expectations of $426.49 million. During the same period last year, the business earned $0.46 earnings per share. The business’s quarterly revenue was up 31.7% on a year-over-year basis. Analysts expect that Synaptics will post $4.48 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This piece was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this piece on another site, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright laws. The legal version of this piece can be viewed at https://ledgergazette.com/2017/10/11/mizuho-downgrades-synaptics-incorporated-syna-to-neutral.html.

Hedge funds have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA lifted its stake in Synaptics by 64.9% in the second quarter. BNP Paribas Arbitrage SA now owns 20,645 shares of the software maker’s stock worth $1,068,000 after acquiring an additional 8,126 shares during the period. Artemis Investment Management LLP lifted its stake in Synaptics by 2,784.7% in the second quarter. Artemis Investment Management LLP now owns 61,791 shares of the software maker’s stock worth $3,195,000 after acquiring an additional 59,649 shares during the period. First Trust Advisors LP lifted its stake in Synaptics by 55.6% in the first quarter. First Trust Advisors LP now owns 36,290 shares of the software maker’s stock worth $1,797,000 after acquiring an additional 12,968 shares during the period. Chicago Equity Partners LLC purchased a new stake in Synaptics in the second quarter worth $879,000. Finally, OppenheimerFunds Inc. lifted its stake in Synaptics by 0.5% in the first quarter. OppenheimerFunds Inc. now owns 508,515 shares of the software maker’s stock worth $25,177,000 after acquiring an additional 2,703 shares during the period. 97.74% of the stock is owned by institutional investors.

About Synaptics

Synaptics Incorporated is engaged in the development, marketing and sale of intuitive human interface solutions for electronic devices and products. The Company is a developer and supplier of custom-designed human interface product solutions that enable people to interact with a range of mobile computing, communications, entertainment and other electronic devices.

Analyst Recommendations for Synaptics (NASDAQ:SYNA)

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