Synaptics (NASDAQ:SYNA) Sets New 1-Year Low – Here’s Why

Synaptics Incorporated (NASDAQ:SYNA) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $41.80 and last traded at $42.92, with a volume of 1186016 shares changing hands. The stock had previously closed at $45.56.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SYNA shares. Mizuho cut their price target on Synaptics from $90.00 to $80.00 and set an “outperform” rating on the stock in a report on Monday, March 24th. Needham & Company LLC reiterated a “buy” rating and issued a $90.00 target price on shares of Synaptics in a research note on Tuesday, February 4th. Rosenblatt Securities reissued a “buy” rating and set a $105.00 price target on shares of Synaptics in a research report on Thursday, February 27th. Susquehanna lifted their price objective on shares of Synaptics from $95.00 to $105.00 and gave the stock a “positive” rating in a research report on Wednesday, January 22nd. Finally, Craig Hallum upgraded shares of Synaptics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 29th. Two equities research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $95.00.

Synaptics Stock Down 5.8 %

The company has a debt-to-equity ratio of 0.60, a current ratio of 3.88 and a quick ratio of 3.36. The business’s fifty day moving average price is $66.29 and its two-hundred day moving average price is $73.25. The stock has a market capitalization of $1.68 billion, a PE ratio of 10.15 and a beta of 1.60.

Insider Buying and Selling at Synaptics

In other Synaptics news, insider Ken Rizvi purchased 3,600 shares of Synaptics stock in a transaction on Monday, February 10th. The stock was bought at an average cost of $69.15 per share, with a total value of $248,940.00. Following the transaction, the insider now owns 27,630 shares of the company’s stock, valued at $1,910,614.50. This represents a 14.98 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC grew its position in Synaptics by 151.1% during the 1st quarter. Parallel Advisors LLC now owns 447 shares of the software maker’s stock worth $28,000 after purchasing an additional 269 shares during the period. GAMMA Investing LLC boosted its stake in shares of Synaptics by 10,953.1% in the first quarter. GAMMA Investing LLC now owns 23,322 shares of the software maker’s stock worth $1,486,000 after buying an additional 23,111 shares during the last quarter. Moody National Bank Trust Division acquired a new stake in Synaptics during the first quarter worth about $1,132,000. Wellington Management Group LLP raised its position in Synaptics by 20.7% during the fourth quarter. Wellington Management Group LLP now owns 556,643 shares of the software maker’s stock valued at $42,483,000 after acquiring an additional 95,432 shares in the last quarter. Finally, Menard Financial Group LLC acquired a new position in Synaptics in the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors 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.