“There has been well documented reports on China handset weakness (Digitimes stated that the Chinese smartphone market could experience a -30% Q/Q in C1Q18 after a strong C4Q17 of up 10% Q/Q) as well commentary from companies in our coverage universe (ON is guiding its comm. business down Q/Q in C1Q). Furthermore MediaTek forecasted revenue in 1Q18 to be down 20% Q/Q in part due to softness in the Chinese smartphone market. In light of the expectation that smartphone unit sales will decline significantly in 1Q18, we have revised down our ests of TDDI and DDIC businesses. We remain positive on SYNA post the qrt. as we believe chip-on-film (COF) represents cheaper alternative to OLED displays while in-display fingerprint sensors offer the same form factor benefits (i.e. removal of the bezel) as Face ID but at much lower costs.”,” the firm’s analyst wrote.
SYNA has been the topic of a number of other research reports. Rosenblatt Securities downgraded Synaptics from a buy rating to a neutral rating and set a $36.00 price target on the stock. in a research report on Friday, November 3rd. Cowen set a $60.00 target price on Synaptics and gave the company a buy rating in a report on Wednesday, October 11th. KeyCorp reissued a hold rating on shares of Synaptics in a report on Sunday, November 19th. ValuEngine cut Synaptics from a buy rating to a hold rating in a report on Sunday, December 31st. Finally, JPMorgan Chase & Co. set a $53.00 target price on Synaptics and gave the company a buy rating in a report on Thursday, October 26th. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $47.63.
Synaptics (NASDAQ:SYNA) last issued its quarterly earnings results on Wednesday, February 7th. The software maker reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.03. The company had revenue of $430.40 million for the quarter, compared to the consensus estimate of $430.59 million. Synaptics had a positive return on equity of 13.49% and a negative net margin of 5.04%. Synaptics’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.49 earnings per share. equities analysts forecast that Synaptics will post 2.8 EPS for the current fiscal year.
In related news, CEO Rick Bergman sold 20,000 shares of the stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $50.00, for a total value of $1,000,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders sold 22,100 shares of company stock valued at $1,085,000. Insiders own 3.70% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Jane Street Group LLC increased its holdings in shares of Synaptics by 100.4% in the third quarter. Jane Street Group LLC now owns 9,075 shares of the software maker’s stock valued at $356,000 after purchasing an additional 4,547 shares during the last quarter. Advisory Services Network LLC grew its position in Synaptics by 1.7% in the second quarter. Advisory Services Network LLC now owns 4,510 shares of the software maker’s stock worth $233,000 after acquiring an additional 75 shares during the period. Koch Industries Inc. purchased a new position in Synaptics in the second quarter worth approximately $551,000. Trexquant Investment LP purchased a new position in Synaptics in the third quarter worth approximately $804,000. Finally, Schwab Charles Investment Management Inc. grew its position in Synaptics by 13.2% in the third quarter. Schwab Charles Investment Management Inc. now owns 220,146 shares of the software maker’s stock worth $8,626,000 after acquiring an additional 25,594 shares during the period. 97.74% of the stock is owned by hedge funds and other institutional investors.
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.
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