Synaptics (SYNA) Raised to “Market Perform” at Oppenheimer

Synaptics (NASDAQ:SYNA) was upgraded by stock analysts at Oppenheimer from an “underperform” rating to a “market perform” rating in a research note issued on Friday, December 8th.

A number of other analysts also recently commented on the company. UBS Group upgraded Synaptics from an “underperform” rating to a “market perform” rating in a report on Friday, December 8th. KeyCorp reaffirmed a “hold” rating on shares of Synaptics in a research report on Sunday, November 19th. Craig Hallum reaffirmed a “buy” rating and set a $43.00 price target (down from $55.00) on shares of Synaptics in a research report on Wednesday, November 8th. Stifel Nicolaus decreased their price target on shares of Synaptics from $68.00 to $59.00 and set a “buy” rating for the company in a research report on Wednesday, November 8th. Finally, Rosenblatt Securities cut shares of Synaptics from a “buy” rating to a “neutral” rating and set a $36.00 price target for the company. in a research report on Friday, November 3rd. Six analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $48.03.

Shares of Synaptics (NASDAQ:SYNA) traded up $1.21 on Friday, reaching $41.15. The company’s stock had a trading volume of 543,853 shares, compared to its average volume of 575,000. The firm has a market cap of $1,380.00, a P/E ratio of 85.73, a PEG ratio of 0.95 and a beta of 1.19. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.35 and a quick ratio of 1.70. Synaptics has a 52 week low of $33.73 and a 52 week high of $64.54.

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

In other news, insider Rick Bergman sold 2,000 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were 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 directly owns 130,307 shares in the company, valued at $5,212,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Wajid Ali sold 2,918 shares of the stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $41.75, for a total transaction of $121,826.50. Following the completion of the transaction, the chief financial officer now owns 27,281 shares of the company’s stock, valued at $1,138,981.75. The disclosure for this sale can be found here. 3.70% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. Hunter Associates Investment Management LLC boosted its holdings in Synaptics by 0.6% during the second quarter. Hunter Associates Investment Management LLC now owns 11,605 shares of the software maker’s stock worth $600,000 after buying an additional 70 shares in the last quarter. Advisory Services Network LLC boosted its holdings in Synaptics by 1.7% during the second quarter. Advisory Services Network LLC now owns 4,510 shares of the software maker’s stock worth $233,000 after buying an additional 75 shares in the last quarter. Aperio Group LLC boosted its holdings in Synaptics by 1.2% during the second quarter. Aperio Group LLC now owns 7,042 shares of the software maker’s stock worth $364,000 after buying an additional 84 shares in the last quarter. CS Mckee LP boosted its holdings in Synaptics by 0.4% during the second quarter. CS Mckee LP now owns 28,600 shares of the software maker’s stock worth $1,479,000 after buying an additional 100 shares in the last quarter. Finally, Amalgamated Bank boosted its holdings in Synaptics by 2.8% during the second quarter. Amalgamated Bank now owns 4,956 shares of the software maker’s stock worth $256,000 after buying an additional 137 shares in the last quarter. Institutional investors and hedge funds own 97.74% of the company’s stock.

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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.

Analyst Recommendations for Synaptics (NASDAQ:SYNA)

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