BidaskClub cut shares of Synaptics (NASDAQ:SYNA) from a sell rating to a strong sell rating in a research report released on Tuesday morning, BidAskClub reports.

A number of other analysts have also weighed in on the stock. ValuEngine upgraded shares of Synaptics from a sell rating to a hold rating in a research note on Wednesday, May 15th. Mizuho cut their price objective on shares of Synaptics from $39.00 to $35.00 and set a neutral rating on the stock in a research note on Friday, May 10th. BMO Capital Markets cut their price objective on shares of Synaptics to $29.00 and set a market perform rating on the stock in a research note on Friday, May 10th. Craig Hallum reiterated a buy rating and issued a $39.00 price objective (down previously from $47.00) on shares of Synaptics in a research note on Friday, May 10th. Finally, Needham & Company LLC reiterated a buy rating and issued a $42.00 price objective (down previously from $45.00) on shares of Synaptics in a research note on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $44.40.

NASDAQ:SYNA opened at $28.06 on Tuesday. The firm has a market capitalization of $984.24 million, a PE ratio of 14.17 and a beta of 0.86. Synaptics has a 1-year low of $27.43 and a 1-year high of $55.25. The company has a current ratio of 3.19, a quick ratio of 2.56 and a debt-to-equity ratio of 0.64.

Synaptics (NASDAQ:SYNA) last released its quarterly earnings data on Thursday, May 9th. The software maker reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.52. The firm had revenue of $334.00 million for the quarter, compared to analyst estimates of $345.30 million. Synaptics had a net margin of 1.39% and a return on equity of 15.21%. The business’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.92 earnings per share. Research analysts predict that Synaptics will post 2.33 EPS for the current fiscal year.

In related news, SVP John Mcfarland sold 2,829 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $33.76, for a total transaction of $95,507.04. Following the sale, the senior vice president now owns 21,871 shares in the company, valued at $738,364.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.70% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. D. E. Shaw & Co. Inc. grew its position in Synaptics by 106.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 288,096 shares of the software maker’s stock valued at $10,720,000 after buying an additional 148,594 shares during the period. Premier Asset Management LLC acquired a new stake in shares of Synaptics in the fourth quarter valued at about $395,000. Legal & General Group Plc grew its position in shares of Synaptics by 1.5% in the third quarter. Legal & General Group Plc now owns 33,198 shares of the software maker’s stock valued at $1,515,000 after purchasing an additional 503 shares during the period. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Synaptics in the fourth quarter valued at about $316,000. Finally, Smith Graham & Co. Investment Advisors LP grew its position in shares of Synaptics by 14.4% in the first quarter. Smith Graham & Co. Investment Advisors LP now owns 283,415 shares of the software maker’s stock valued at $11,266,000 after purchasing an additional 35,740 shares during the period. Institutional investors own 98.09% of the company’s stock.

About Synaptics

Synaptics Incorporated develops, markets, and sells intuitive human interface solutions for electronic devices and products worldwide. The company offers its products and solutions for smartphones, tablets, and touchscreen applications, as well as mobile, handheld, wireless, and entertainment devices; notebook applications; and other personal computer (PC) product applications.

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Analyst Recommendations for Synaptics (NASDAQ:SYNA)

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