Oppenheimer Holdings Equities Analysts Boost Earnings Estimates for Synaptics Incorporated (SYNA)

Synaptics Incorporated (NASDAQ:SYNA) – Oppenheimer Holdings increased their Q1 2018 EPS estimates for shares of Synaptics in a report released on Monday. Oppenheimer Holdings analyst A. Uerkwitz now forecasts that the software maker will post earnings per share of $0.56 for the quarter, up from their previous forecast of $0.47. Oppenheimer Holdings has a “Underperform” rating and a $35.00 price objective on the stock. Oppenheimer Holdings also issued estimates for Synaptics’ Q2 2018 earnings at $0.47 EPS, Q3 2018 earnings at $0.62 EPS, Q4 2018 earnings at $0.81 EPS, FY2018 earnings at $2.46 EPS and FY2019 earnings at $1.31 EPS.

Synaptics (NASDAQ:SYNA) last posted its quarterly earnings results on Thursday, August 3rd. The software maker reported $0.85 EPS for the quarter, topping the consensus estimate of $0.74 by $0.11. The business had revenue of $426.50 million during the quarter, compared to analysts’ expectations of $426.49 million. Synaptics had a net margin of 2.84% and a return on equity of 16.51%. The firm’s quarterly revenue was up 31.7% compared to the same quarter last year. During the same period last year, the company posted $0.46 earnings per share.

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Several other research analysts have also recently issued reports on SYNA. BMO Capital Markets cut their target price on Synaptics from $56.00 to $46.00 and set a “market perform” rating on the stock in a research report on Friday, August 4th. BidaskClub cut Synaptics from a “sell” rating to a “strong sell” rating in a research report on Wednesday. CIBC reaffirmed an “underperform” rating and set a $35.00 target price (down previously from $45.00) on shares of Synaptics in a research report on Tuesday. Citigroup Inc. reaffirmed an “underperform” rating and set a $35.00 target price (down previously from $45.00) on shares of Synaptics in a research report on Tuesday. Finally, Cowen and Company set a $75.00 target price on Synaptics and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Eight research analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $54.78.

Shares of Synaptics (NASDAQ:SYNA) opened at 39.70 on Thursday. Synaptics has a 12-month low of $38.50 and a 12-month high of $69.45. The firm has a market capitalization of $1.34 billion, a PE ratio of 28.98 and a beta of 1.13. The company’s 50 day moving average is $48.37 and its 200 day moving average is $52.43.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Ameriprise Financial Inc. boosted its position in shares of Synaptics by 16.0% in the second quarter. Ameriprise Financial Inc. now owns 5,048,535 shares of the software maker’s stock worth $261,064,000 after buying an additional 697,328 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Synaptics by 2.7% in the second quarter. Vanguard Group Inc. now owns 4,228,015 shares of the software maker’s stock worth $218,630,000 after buying an additional 110,567 shares in the last quarter. BlackRock Inc. boosted its position in shares of Synaptics by 23,834.7% in the first quarter. BlackRock Inc. now owns 4,199,575 shares of the software maker’s stock worth $207,921,000 after buying an additional 4,182,029 shares in the last quarter. State Street Corp boosted its position in shares of Synaptics by 0.6% in the second quarter. State Street Corp now owns 1,313,469 shares of the software maker’s stock worth $67,921,000 after buying an additional 8,390 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its position in shares of Synaptics by 2.3% in the second quarter. Lord Abbett & CO. LLC now owns 1,244,747 shares of the software maker’s stock worth $64,366,000 after buying an additional 27,878 shares in the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Rick Bergman sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $55.61, for a total transaction of $556,100.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jeffrey D. Buchanan sold 9,375 shares of the company’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $55.92, for a total value of $524,250.00. Following the transaction, the director now directly owns 16,166 shares in the company, valued at approximately $904,002.72. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by insiders.

About Synaptics

Synaptics Incorporated is engaged in the development, marketing and sale of intuitive human interface solutions for electronic devices and products. The Company is a developer and supplier of custom-designed human interface product solutions that enable people to interact with a range of mobile computing, communications, entertainment and other electronic devices.

Earnings History and Estimates for Synaptics (NASDAQ:SYNA)

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