Mizuho Issues Pessimistic Forecast for Synaptics (NASDAQ:SYNA) Stock Price

Synaptics (NASDAQ:SYNA) had its target price cut by stock analysts at Mizuho from $90.00 to $80.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the software maker’s stock. Mizuho’s target price suggests a potential upside of 22.80% from the company’s current price.

SYNA has been the subject of several other research reports. Needham & Company LLC reiterated a “buy” rating and set a $90.00 price objective on shares of Synaptics in a report on Tuesday, February 4th. Susquehanna increased their price target on Synaptics from $95.00 to $105.00 and gave the company a “positive” rating in a research note on Wednesday, January 22nd. Rosenblatt Securities restated a “buy” rating and set a $105.00 price target on shares of Synaptics in a research note on Thursday, February 27th. Finally, Craig Hallum raised shares of Synaptics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 29th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Synaptics has an average rating of “Moderate Buy” and an average price target of $95.00.

Synaptics Stock Up 1.6 %

NASDAQ:SYNA traded up $1.05 during midday trading on Monday, reaching $65.15. 57,201 shares of the stock traded hands, compared to its average volume of 656,693. The stock has a market capitalization of $2.55 billion, a PE ratio of 15.40 and a beta of 1.55. Synaptics has a 12-month low of $60.75 and a 12-month high of $99.99. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.36 and a current ratio of 3.88. The business has a 50-day moving average of $72.74 and a two-hundred day moving average of $74.75.

Insider Activity at Synaptics

In related news, insider Ken Rizvi purchased 3,600 shares of Synaptics stock in a transaction that occurred on Monday, February 10th. The stock was bought at an average cost of $69.15 per share, for a total transaction of $248,940.00. Following the completion of the transaction, the insider now owns 27,630 shares in the company, valued at $1,910,614.50. The trade was a 14.98 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 1.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Synaptics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Louisiana State Employees Retirement System grew its holdings in Synaptics by 1.8% in the fourth quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the software maker’s stock valued at $847,000 after purchasing an additional 200 shares during the period. State of Michigan Retirement System raised its position in Synaptics by 2.1% during the fourth quarter. State of Michigan Retirement System now owns 9,533 shares of the software maker’s stock worth $728,000 after acquiring an additional 200 shares during the period. Arizona State Retirement System lifted its holdings in Synaptics by 1.8% during the fourth quarter. Arizona State Retirement System now owns 11,573 shares of the software maker’s stock valued at $883,000 after purchasing an additional 200 shares in the last quarter. Bridge City Capital LLC grew its position in shares of Synaptics by 0.9% in the fourth quarter. Bridge City Capital LLC now owns 22,511 shares of the software maker’s stock valued at $1,718,000 after purchasing an additional 201 shares during the period. Finally, Inspire Advisors LLC increased its stake in shares of Synaptics by 2.7% during the fourth quarter. Inspire Advisors LLC now owns 8,175 shares of the software maker’s stock worth $624,000 after purchasing an additional 212 shares in the last quarter. Institutional investors and hedge funds own 99.43% of the company’s stock.

About Synaptics

Synaptics Incorporated develops, markets, and sells semiconductor products 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, over-the-top, streaming devices, soundbars, surveillance cameras, and smart displays; and ImagingSmart solutions.