Synaptics (SYNA) Downgraded by ValuEngine

Synaptics (NASDAQ:SYNA) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Sunday, December 31st.

A number of other research firms have also recently commented on SYNA. Cowen set a $60.00 target price on Synaptics and gave the stock a “buy” rating in a research note on Wednesday, October 11th. Needham & Company LLC reiterated a “buy” rating and set a $55.00 target price on shares of Synaptics in a research note on Wednesday, December 13th. Stifel Nicolaus lowered their price objective on Synaptics from $68.00 to $59.00 and set a “buy” rating on the stock in a research note on Wednesday, November 8th. Mizuho cut Synaptics from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $60.00 to $42.00 in a research note on Monday, October 9th. Finally, Rosenblatt Securities lowered Synaptics from a “buy” rating to a “neutral” rating and set a $36.00 target price for the company. in a report on Friday, November 3rd. Six analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $48.03.

Shares of Synaptics (NASDAQ SYNA) opened at $47.36 on Friday. Synaptics has a 52-week low of $33.73 and a 52-week high of $64.54. The company has a current ratio of 2.35, a quick ratio of 1.70 and a debt-to-equity ratio of 0.59. The company has a market cap of $1,600.00, a P/E ratio of 98.67, a PEG ratio of 1.19 and a beta of 1.20.

Synaptics (NASDAQ:SYNA) last posted its quarterly earnings data on Tuesday, November 7th. The software maker reported $1.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.46. The firm had revenue of $417.40 million for the quarter, compared to the consensus estimate of $398.68 million. Synaptics had a net margin of 1.06% and a return on equity of 15.85%. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.03 EPS. research analysts expect that Synaptics will post 2.8 earnings per share for the current year.

In other Synaptics news, CFO Wajid Ali sold 2,918 shares of the stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $41.75, for a total value of $121,826.50. Following the completion of the transaction, the chief financial officer now owns 27,281 shares in the company, valued at $1,138,981.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Rick Bergman sold 2,000 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $40.00, for a total value of $80,000.00. Following the completion of the transaction, the insider now owns 130,307 shares of the company’s stock, valued at approximately $5,212,280. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,918 shares of company stock valued at $1,201,827. 3.70% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of SYNA. Great West Life Assurance Co. Can grew its stake in shares of Synaptics by 4.5% in the second quarter. Great West Life Assurance Co. Can now owns 22,261 shares of the software maker’s stock worth $1,151,000 after acquiring an additional 966 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Synaptics by 7.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 194,552 shares of the software maker’s stock worth $10,061,000 after acquiring an additional 13,260 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Synaptics by 25.4% in the second quarter. Bank of New York Mellon Corp now owns 594,914 shares of the software maker’s stock worth $30,763,000 after acquiring an additional 120,630 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Synaptics by 17.8% in the second quarter. Legal & General Group Plc now owns 26,597 shares of the software maker’s stock worth $1,378,000 after acquiring an additional 4,011 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its stake in shares of 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 last quarter.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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