Synaptics (NASDAQ:SYNA) Rating Increased to Sell at BidaskClub

BidaskClub upgraded shares of Synaptics (NASDAQ:SYNA) from a strong sell rating to a sell rating in a report published on Wednesday, BidAskClub reports.

A number of other brokerages have also commented on SYNA. Zacks Investment Research lowered Synaptics from a buy rating to a hold rating in a report on Friday, July 26th. JPMorgan Chase & Co. lowered Synaptics from a neutral rating to an underweight rating and decreased their price objective for the stock from $35.00 to $25.00 in a report on Friday, August 9th. BMO Capital Markets boosted their price objective on Synaptics from $29.00 to $33.00 and gave the stock a market perform rating in a report on Friday, August 9th. ValuEngine raised Synaptics from a sell rating to a hold rating in a report on Wednesday, May 15th. Finally, Craig Hallum lowered Synaptics from a buy rating to a hold rating and decreased their price objective for the stock from $39.00 to $28.00 in a report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $35.33.

Shares of SYNA opened at $34.15 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.56 and a current ratio of 2.88. The stock has a 50 day moving average price of $31.43 and a two-hundred day moving average price of $34.65. The firm has a market capitalization of $1.14 billion, a P/E ratio of 13.66 and a beta of 1.02. Synaptics has a 52 week low of $26.34 and a 52 week high of $48.74.

Synaptics (NASDAQ:SYNA) last issued its quarterly earnings data on Thursday, August 8th. The software maker reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.47. The firm had revenue of $295.10 million during the quarter, compared to analyst estimates of $307.27 million. Synaptics had a positive return on equity of 12.74% and a negative net margin of 1.56%. The company’s revenue for the quarter was down 24.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.00 EPS. On average, equities analysts forecast that Synaptics will post 1.63 earnings per share for the current year.

In other news, Director Nelson C. Chan sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $33.25, for a total value of $199,500.00. Following the completion of the transaction, the director now directly owns 39,449 shares of the company’s stock, valued at $1,311,679.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.70% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Synaptics by 3.7% in the second quarter. Vanguard Group Inc. now owns 4,883,667 shares of the software maker’s stock valued at $142,310,000 after acquiring an additional 175,697 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Synaptics by 8.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,741,214 shares of the software maker’s stock valued at $64,791,000 after acquiring an additional 142,207 shares in the last quarter. Carlson Capital L P grew its holdings in shares of Synaptics by 41.9% in the second quarter. Carlson Capital L P now owns 735,427 shares of the software maker’s stock valued at $21,430,000 after acquiring an additional 217,172 shares in the last quarter. State of New Jersey Common Pension Fund D grew its holdings in shares of Synaptics by 3.3% in the second quarter. State of New Jersey Common Pension Fund D now owns 630,000 shares of the software maker’s stock valued at $18,358,000 after acquiring an additional 20,000 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Synaptics by 2.5% in the second quarter. Northern Trust Corp now owns 553,287 shares of the software maker’s stock valued at $16,123,000 after acquiring an additional 13,349 shares in the last quarter. 95.34% of the stock is owned by institutional investors.

About Synaptics

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.

Further Reading: If I purchase shares through a brokerage account, am I the holder of record?

Analyst Recommendations for Synaptics (NASDAQ:SYNA)

Receive News & Ratings for Synaptics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synaptics and related companies with MarketBeat.com's FREE daily email newsletter.