Today, Synaptics Inc. (SYNA) Rating Increased to Buy at Mizuho

Today, Synaptics Inc. (SYNA) Rating Increased to Buy at Mizuho

Synaptics Inc. (NASDAQ:SYNA) was upgraded by analysts at Mizuho from a “neutral” rating to a “buy” rating in a report released on Thursday. The brokerage presently has a $74.00 price objective on the stock, up from their previous price objective of $58.00. Mizuho’s price objective indicates a potential upside of 11.48% from the stock’s current price.

Several other research firms have also recently weighed in on SYNA. Pacific Crest reissued a “hold” rating on shares of Synaptics in a research report on Sunday, September 11th. Needham & Company LLC reissued a “buy” rating and issued a $65.00 price objective on shares of Synaptics in a research report on Friday, October 7th. Zacks Investment Research raised Synaptics from a “strong sell” rating to a “hold” rating and set a $59.00 price objective on the stock in a research report on Wednesday, June 29th. Craig Hallum cut their price objective on Synaptics from $85.00 to $70.00 and set a “buy” rating on the stock in a research report on Friday, July 29th. Finally, Lake Street Capital cut Synaptics from a “buy” rating to a “hold” rating and cut their price objective for the stock from $74.00 to $57.00 in a research report on Wednesday, July 6th. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $76.83.

Shares of Synaptics (NASDAQ:SYNA) opened at 66.38 on Thursday. Synaptics has a 1-year low of $47.09 and a 1-year high of $94.48. The company has a 50-day moving average price of $59.68 and a 200 day moving average price of $62.36. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of 34.75 and a beta of 1.76.

Synaptics (NASDAQ:SYNA) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.46 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.46. Synaptics had a return on equity of 18.44% and a net margin of 4.33%. The business had revenue of $323.90 million for the quarter, compared to analysts’ expectations of $318.48 million. During the same quarter in the previous year, the firm earned $1.57 earnings per share. The business’s revenue was down 32.4% on a year-over-year basis. On average, equities research analysts predict that Synaptics will post $5.18 EPS for the current year.

In other Synaptics news, insider Ritu Favre sold 3,259 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $53.09, for a total value of $173,020.31. Following the transaction, the insider now directly owns 12,360 shares in the company, valued at approximately $656,192.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Rick Bergman sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $58.29, for a total value of $582,900.00. Following the completion of the transaction, the insider now owns 82,491 shares in the company, valued at $4,808,400.39. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company’s stock.

A number of institutional investors have recently made changes to their positions in SYNA. Advisory Services Network LLC raised its position in shares of Synaptics by 1.0% in the second quarter. Advisory Services Network LLC now owns 3,105 shares of the company’s stock worth $167,000 after buying an additional 30 shares in the last quarter. Northwestern Mutual Investment Management Company LLC raised its position in shares of Synaptics by 0.5% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 6,360 shares of the company’s stock worth $342,000 after buying an additional 34 shares in the last quarter. Legal & General Group Plc raised its position in shares of Synaptics by 0.5% in the second quarter. Legal & General Group Plc now owns 9,493 shares of the company’s stock worth $503,000 after buying an additional 48 shares in the last quarter. Sandy Spring Bank raised its position in shares of Synaptics by 5.4% in the second quarter. Sandy Spring Bank now owns 1,950 shares of the company’s stock worth $105,000 after buying an additional 100 shares in the last quarter. Finally, Redmond Asset Management LLC raised its position in shares of Synaptics by 0.4% in the second quarter. Redmond Asset Management LLC now owns 25,849 shares of the company’s stock worth $1,389,000 after buying an additional 102 shares in the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

Synaptics Company Profile

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