Zacks Investment Research Downgrades Synaptics (NASDAQ:SYNA) to Sell

Synaptics (NASDAQ:SYNAGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday, 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 analysts have also recently issued reports about the stock. Wells Fargo & Company assumed coverage on shares of Synaptics in a research note on Thursday, April 7th. They issued an “equal weight” rating and a $185.00 price objective for the company. Rosenblatt Securities boosted their price objective on shares of Synaptics from $290.00 to $345.00 and gave the stock a “buy” rating in a research note on Friday, December 31st. KeyCorp reduced their price objective on shares of Synaptics from $310.00 to $250.00 and set an “overweight” rating for the company in a research note on Tuesday, April 12th. StockNews.com assumed coverage on shares of Synaptics in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Mizuho reduced their price objective on shares of Synaptics from $290.00 to $250.00 and set a “buy” rating for the company in a research note on Monday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Synaptics has an average rating of “Buy” and an average target price of $273.08.

NASDAQ SYNA traded up $2.94 during trading on Tuesday, reaching $162.64. The company’s stock had a trading volume of 9,565 shares, compared to its average volume of 532,052. The company has a current ratio of 2.94, a quick ratio of 2.58 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $6.39 billion, a PE ratio of 46.07, a PEG ratio of 1.44 and a beta of 1.22. The business has a 50-day moving average price of $207.03 and a 200-day moving average price of $226.27. Synaptics has a 1-year low of $114.05 and a 1-year high of $299.39.

Synaptics (NASDAQ:SYNAGet Rating) last posted its earnings results on Thursday, February 3rd. The software maker reported $2.54 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.67 by ($0.13). The business had revenue of $420.50 million during the quarter, compared to analyst estimates of $422.90 million. Synaptics had a net margin of 9.85% and a return on equity of 30.47%. During the same quarter last year, the firm earned $1.79 earnings per share. As a group, analysts expect that Synaptics will post 10.64 earnings per share for the current year.

In other Synaptics news, insider Dean Warren Butler sold 1,448 shares of the business’s stock in a transaction on Monday, February 7th. The shares were sold at an average price of $209.69, for a total value of $303,631.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.80% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in Synaptics by 15.5% in the 4th quarter. BlackRock Inc. now owns 4,532,718 shares of the software maker’s stock valued at $1,312,268,000 after buying an additional 608,675 shares during the period. Wellington Management Group LLP increased its holdings in Synaptics by 112.9% in the 3rd quarter. Wellington Management Group LLP now owns 2,911,436 shares of the software maker’s stock valued at $523,272,000 after buying an additional 1,543,913 shares during the period. State Street Corp grew its holdings in shares of Synaptics by 6.2% in the 4th quarter. State Street Corp now owns 1,346,073 shares of the software maker’s stock worth $389,702,000 after purchasing an additional 79,103 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Synaptics by 1.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 873,315 shares of the software maker’s stock worth $156,964,000 after purchasing an additional 16,024 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Synaptics by 11.4% in the 4th quarter. Geode Capital Management LLC now owns 740,819 shares of the software maker’s stock worth $214,493,000 after purchasing an additional 75,888 shares during the last quarter. 92.22% of the stock is currently owned by hedge funds and other institutional investors.

About Synaptics (Get Rating)

Synaptics Incorporated develops and supplies semiconductor products and solutions worldwide. The company offers AudioSmart for voice and audio processing; ConnectSmart for high-speed video/audio/data connectivity; DisplayLink for transmitting compressed video frames across low bandwidth connections; VideoSmart that enables set-top boxes or over-the-top, streaming devices, soundbars, surveillance cameras, and smart displays; and ImagingSmart solutions.

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