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.
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.
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