Synaptics (SYNA) Upgraded by UBS to “Market Perform”

UBS upgraded shares of Synaptics (NASDAQ:SYNA) from an underperform rating to a market perform rating in a research report sent to investors on Friday morning.

Several other research firms also recently weighed in on SYNA. Craig Hallum reissued a buy rating and issued a $43.00 target price (down from $55.00) on shares of Synaptics in a report on Wednesday, November 8th. Zacks Investment Research raised Synaptics from a hold rating to a buy rating and set a $46.00 target price for the company in a report on Thursday, August 31st. Oppenheimer reissued a sell rating and issued a $35.00 target price on shares of Synaptics in a report on Wednesday, November 8th. Stifel Nicolaus reduced their target price on Synaptics from $68.00 to $59.00 and set a buy rating for the company in a report on Wednesday, November 8th. Finally, KeyCorp reissued a hold rating on shares of Synaptics in a report on Wednesday, September 6th. Six analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $48.03.

Synaptics (NASDAQ:SYNA) traded up $2.68 during trading on Friday, hitting $38.91. The stock had a trading volume of 1,439,666 shares, compared to its average volume of 976,878. Synaptics has a fifty-two week low of $33.73 and a fifty-two week high of $64.54. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.35 and a quick ratio of 1.70. The stock has a market cap of $1,232.96, a P/E ratio of 11.08, a P/E/G ratio of 0.86 and a beta of 1.19.

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

In other Synaptics news, insider Rick Bergman sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $40.00, for a total transaction of $80,000.00. Following the transaction, the insider now owns 130,307 shares in the company, valued at approximately $5,212,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Wajid Ali sold 2,918 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 27,281 shares in the company, valued at approximately $1,138,981.75. The disclosure for this sale can be found here. 3.70% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SYNA. Tiedemann Wealth Management LLC increased its position in Synaptics by 17.9% during the 3rd quarter. Tiedemann Wealth Management LLC now owns 16,335 shares of the software maker’s stock worth $103,000 after purchasing an additional 2,485 shares during the period. Highlander Capital Management LLC acquired a new position in Synaptics during the 2nd quarter worth approximately $104,000. Victory Capital Management Inc. acquired a new position in Synaptics during the 3rd quarter worth approximately $120,000. Riverhead Capital Management LLC increased its position in Synaptics by 95.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,730 shares of the software maker’s stock worth $141,000 after purchasing an additional 1,330 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in Synaptics by 51.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,806 shares of the software maker’s stock worth $145,000 after purchasing an additional 948 shares during the period. Institutional investors own 97.74% of the company’s stock.

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Synaptics Company Profile

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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