Synaptics, Incorporated (NASDAQ:SYNA) traded up 5.7% during mid-day trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $38.22 and last traded at $36.91. 2,468,503 shares traded hands during trading, an increase of 248% from the average session volume of 709,111 shares. The stock had previously closed at $34.93.
The software maker reported $1.24 EPS for the quarter, topping the consensus estimate of $1.14 by $0.10. Synaptics had a negative net margin of 7.61% and a positive return on equity of 11.07%. The firm had revenue of $417.60 million for the quarter, compared to analysts’ expectations of $410.60 million. During the same period in the previous year, the business earned $1.03 earnings per share. Synaptics’s revenue for the quarter was up .0% compared to the same quarter last year.
Several equities research analysts have commented on the stock. Craig Hallum upgraded shares of Synaptics from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research report on Wednesday, August 1st. BMO Capital Markets boosted their price target on shares of Synaptics from $39.00 to $44.00 and gave the stock a “market perform” rating in a research report on Friday, August 10th. JPMorgan Chase & Co. boosted their price target on shares of Synaptics from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, August 10th. Needham & Company LLC boosted their price target on shares of Synaptics from $52.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, August 10th. Finally, ValuEngine cut shares of Synaptics from a “hold” rating to a “sell” rating in a research report on Thursday, August 2nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $53.50.
The company has a quick ratio of 2.14, a current ratio of 2.61 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $1.28 billion, a PE ratio of 18.64, a PEG ratio of 1.27 and a beta of 0.94.
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Synaptics Company Profile (NASDAQ:SYNA)
Synaptics Incorporated develops, markets, and sells intuitive human interface solutions for electronic devices and products worldwide. The company offers its products and solutions for smartphones, tablets, and touchscreen applications, as well as mobile, handheld, wireless, and entertainment devices; notebook applications; and other personal computer (PC) product applications.
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