Synaptics (NASDAQ:SYNA) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Synaptics (NASDAQ:SYNA) from a buy rating to a hold rating in a research note published on Thursday morning, Zacks.com reports.

According to Zacks, “Synaptics is a leader in designing and marketing human interface solutions such as touchpads for notebook computers, capactive touch screen controllers for handsets and biometric fingerprint sensors for mobile devices. “

Other equities analysts have also issued reports about the company. Needham & Company LLC reaffirmed a buy rating and set a $42.00 price target (down from $45.00) on shares of Synaptics in a research note on Friday, May 10th. BMO Capital Markets increased their price target on Sun Life Financial from C$58.00 to C$60.00 in a research note on Friday, May 10th. ValuEngine raised Vermillion from a hold rating to a buy rating in a research note on Wednesday, May 15th. Craig Hallum lowered SharpSpring from a buy rating to a hold rating and increased their price target for the company from $17.00 to $21.00 in a research note on Friday, May 10th. Finally, Mizuho set a $88.00 price target on Gilead Sciences and gave the company a buy rating in a research note on Friday, May 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $41.00.

Shares of SYNA stock opened at $31.46 on Thursday. Synaptics has a 12-month low of $26.34 and a 12-month high of $51.67. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 10.28 and a beta of 1.07. The business has a 50 day simple moving average of $29.11. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.19 and a quick ratio of 2.56.

Synaptics (NASDAQ:SYNA) last issued its quarterly earnings data on Thursday, May 9th. The software maker reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.52. Synaptics had a return on equity of 15.21% and a net margin of 1.39%. The business had revenue of $334.00 million during the quarter, compared to analyst estimates of $345.30 million. During the same period in the prior year, the company posted $0.92 EPS. The business’s revenue for the quarter was down 15.2% compared to the same quarter last year. On average, sell-side analysts forecast that Synaptics will post 2.32 EPS for the current fiscal year.

In other Synaptics news, SVP John Mcfarland sold 2,829 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $33.76, for a total transaction of $95,507.04. Following the completion of the transaction, the senior vice president now directly owns 21,871 shares of the company’s stock, valued at approximately $738,364.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.70% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. NumerixS Investment Technologies Inc bought a new stake in shares of Synaptics during the 4th quarter worth $38,000. Penserra Capital Management LLC boosted its stake in shares of Synaptics by 50.0% during the 1st quarter. Penserra Capital Management LLC now owns 1,185 shares of the software maker’s stock worth $47,000 after acquiring an additional 395 shares in the last quarter. Truvestments Capital LLC bought a new stake in shares of Synaptics during the 1st quarter worth $136,000. Palouse Capital Management Inc. bought a new stake in shares of Synaptics during the 1st quarter worth $224,000. Finally, Convergence Investment Partners LLC bought a new stake in shares of Synaptics during the 1st quarter worth $277,000. 96.78% of the stock is owned by institutional investors and hedge funds.

Synaptics Company Profile

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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