Needham & Company LLC reissued their buy rating on shares of Synaptics Inc. (NASDAQ:SYNA) in a research note released on Friday morning. The brokerage currently has a $65.00 target price on the stock.
“Synaptics announced today that its TDDI technology has been selected for the Samsung On5 and On7 smartphones (currently available in China, Southwest Asia, and Africa). This week, SYNA has also announced a series of TouchView TDDI wins including Huawei’s Nova smartphones and Xiaomi’s Mi 5s/5s Plus. SYNA’s TouchView combines touchscreen controller and display driver IC into a single chip in order to provide a slimmer, cheaper, and faster-to-market solution. Last month, we hosted investor meetings with Mr. Wajid Ali, CFO, and came away with a positive view of SYNA’s TDDI growth opportunity.”,” Needham & Company LLC’s analyst wrote.
Several other research analysts have also issued reports on SYNA. Rosenblatt Securities reiterated a buy rating and issued a $106.00 price target on shares of Synaptics in a research note on Thursday, June 9th. Oppenheimer Holdings Inc. reiterated a hold rating on shares of Synaptics in a research note on Wednesday, June 15th. Mizuho decreased their price target on shares of Synaptics from $75.00 to $68.00 and set a neutral rating for the company in a research note on Thursday, June 16th. Cowen and Company reiterated a buy rating on shares of Synaptics in a research note on Friday, June 17th. Finally, JPMorgan Chase & Co. reiterated a buy rating on shares of Synaptics in a research note on Thursday, June 16th. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $76.33.
Synaptics (NASDAQ:SYNA) opened at 65.44 on Friday. The company has a market capitalization of $2.28 billion, a PE ratio of 34.26 and a beta of 1.76. The firm has a 50-day moving average of $58.79 and a 200 day moving average of $62.35. Synaptics has a 12-month low of $47.09 and a 12-month high of $94.48.
Synaptics (NASDAQ:SYNA) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.46 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.46. The company earned $323.90 million during the quarter, compared to analyst estimates of $318.48 million. Synaptics had a net margin of 4.33% and a return on equity of 18.44%. Synaptics’s quarterly revenue was down 32.4% compared to the same quarter last year. During the same period last year, the business earned $1.57 EPS. Analysts forecast that Synaptics will post $5.18 EPS for the current fiscal year.
In related news, SVP John Mcfarland sold 2,778 shares of the firm’s stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $60.00, for a total value of $166,680.00. Following the transaction, the senior vice president now owns 10,226 shares of the company’s stock, valued at $613,560. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ritu Favre sold 3,259 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $53.09, for a total transaction of $173,020.31. Following the completion of the transaction, the insider now directly owns 12,360 shares in the company, valued at approximately $656,192.40. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the company. Capital Fund Management S.A. purchased a new stake in Synaptics during the second quarter worth approximately $13,155,000. Cambiar Investors LLC boosted its stake in Synaptics by 6.0% in the second quarter. Cambiar Investors LLC now owns 613,223 shares of the company’s stock worth $32,961,000 after buying an additional 34,827 shares during the last quarter. Norges Bank purchased a new stake in Synaptics during the fourth quarter worth approximately $33,908,000. Americafirst Capital Management LLC purchased a new stake in Synaptics during the second quarter worth approximately $241,000. Finally, 1st Global Advisors Inc. boosted its stake in Synaptics by 9.7% in the second quarter. 1st Global Advisors Inc. now owns 8,874 shares of the company’s stock worth $477,000 after buying an additional 784 shares during the last quarter. 89.76% of the stock is currently owned by institutional investors.