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

Synaptics Incorporated (NASDAQ:SYNA) shares reached a new 52-week low on Thursday . The stock traded as low as $60.75 and last traded at $61.05, with a volume of 245058 shares traded. The stock had previously closed at $62.48.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $105.00 target price on shares of Synaptics in a report on Thursday, February 27th. Craig Hallum upgraded shares of Synaptics from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 29th. Needham & Company LLC reiterated a “buy” rating and set a $90.00 price target on shares of Synaptics in a research report on Tuesday, February 4th. Finally, Susquehanna upped their price target 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. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.88.

Synaptics Trading Up 1.8 %

The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of 14.85 and a beta of 1.55. The business’s 50-day simple moving average is $74.53 and its 200-day simple moving average is $75.39. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.36 and a current ratio of 3.88.

Insider Activity at Synaptics

In other Synaptics news, insider Ken Rizvi bought 3,600 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was acquired at an average cost of $69.15 per share, with a total value of $248,940.00. Following the purchase, the insider now owns 27,630 shares in the company, valued at $1,910,614.50. This trade represents a 14.98 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Synaptics

Large investors have recently bought and sold shares of the business. Quarry LP bought a new stake in Synaptics during the 3rd quarter worth approximately $31,000. Brown Brothers Harriman & Co. bought a new position in shares of Synaptics during the 4th quarter worth approximately $31,000. Menard Financial Group LLC bought a new position in shares of Synaptics during the 4th quarter worth approximately $37,000. Aster Capital Management DIFC Ltd bought a new position in shares of Synaptics during the 4th quarter worth approximately $43,000. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of Synaptics during the 4th quarter worth approximately $72,000. 99.43% of the stock is owned by institutional investors.

Synaptics Company Profile

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.