KeyBanc maintained its Synaptics [SYNA] rating to the equivalent of Overweight but changed the price target to $120 from $100, in a research note dated 2021-01-06. That figure represents around a 21.83% premium from where the company’s shares closed on Tuesday. Other analysts also revised their coverage, with KeyBanc Capital Markets’s analysts upgrading the shares from “a Sector weight” rating to “an Overweight” rating in a research note to investors issued in early August. Meanwhile, Craig Hallum had maintained its rating on SYNA to the earlier “Hold” rating, in a research note produced for clients August 06, 2020. In addition, there was an upgrade from Susquehanna on July 21, 2020. The rater changed SYNA from “a Neutral” to “a Positive”.
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Is Synaptics Incorporated [NASDAQ:SYNA] a Good Buy Right Now?
It should be noted that SYNA technical indicators for short, intermediate as well as long term progress have placed an overall average of 88% as Buy. The average signal changed from 88% Buy in the last week and compares with 8% Sell in the past month. Data from Synaptics Incorporated’s Trend Spotter indicated that the signals were Strengthening. The stock current average is 0.45 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.42 million shares while the medium term average advocated for 50% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.39 million shares.
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SYNA Price Performance
On Wall Street, Synaptics Incorporated [NASDAQ:SYNA] finished Tuesday’s session up 1.13% at $98.50. The stock went up to $100.99 at the same session while its lowest single day price was $97.28. In the last five days, it saw a rise of about 6.91%, Synaptics Incorporated shares gained by almost 2.18% since the beginning of the year. However, the share price has dropped to as low as -1.30% below its one year high. On 01/05/21, the company shares recorded $100.99, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $96.61. The company’s shares have inclined by 41.12% in the past year. The 50-day SMA achieved is $81.96 while the 200-day SMA is $74.03. Volume dropped to 0.63 million from 0.65 million in the previous session.
Synaptics Incorporated [SYNA] Valuation Measures
Notably, Synaptics Incorporated [SYNA] stock can be classified as a good candidate in the listing of underestimated low-priced Semiconductors companies to purchase soonest possible with the prevailing 12-month PE ratio of 31.19. The measure means the stock is exchanging at a discount as compared to the 32.75x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 2.53 PS value ratio is reported for the last one year of reported earnings. That is lower than the industry average of 2.64 which means SYNA serve an attractive investment opportunity compared to its competitors.
SYNA Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 96.86 level, and in case of violation of this particular level, it will cause more drop to 95.21 level. On the upper level, 102.63 is still the key resistance. The stock may increase to the subsequent resistance at 100.57. The Relative Strength Index (RSI) pinned on the 14-day chart is 75.03, implying a overbought technical stance while the MACD stands at 9.10, meaning price will increase in the next trading period. Percent R indicator moved to 11.44%, implying bullish price movement. Stochastic %K at 89.68% suggest selling the stock.
What is the short interest in Synaptics Incorporated?
Short interest in the Synaptics Incorporated stock has surged, increasing by 0.14 million shares to total 4.07 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 4.21 million, data from Yahoo Finance shows. The decrease of -3.44% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 22.11% of the overall float for the stock.
Synaptics Incorporated’s Biggest Shareholders: Who Owns Synaptics Incorporated [SYNA]?
Filings by Fidelity Management & Research Co showed that the firm now holds a total of 5,027,159 shares or roughly 14.56% of the outstanding SYNA shares. This means their shares have reduced by -22,708 from the 5,027,159 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, The Vanguard Group, Inc. updated stake is worth $308,058,947. Details in the latest 13F filings reveal that Columbia Management Investment Ad acquired their 6.75% stake valued at $285,751,011 while BlackRock Fund Advisors cut theirs at $266,430,454. During the last quarter, Columbia Management Investment Ad raised 232,311 of its shares in Synaptics Incorporated while BlackRock Fund Advisors sold -128,282 shares. The Fisher Asset Management LLC’s holdings currently number 1,277,130 shares at $125797305.0. According to the firm’s last 13F report, SSgA Funds Management, Inc. shares in the company at filing stood at 1,272,369 shares, roughly $98,952,137.
SYNA Earnings Forecast For The Current Quarter
Synaptics Incorporated [SYNA] is expected to report strong earnings results for the quarter ending in Dec 2020. Consensus estimates give the company expected revenues of $356.13M and an earnings per share of $2.12 for Dec 2020. Looking further ahead, the company is expected to report revenue of $305.07M at an EPS of $1.46 for Mar 2021. The estimates represent 4.50% and 8.41% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
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SYNA Earnings Estimates For The Current Year
For the financial year, Synaptics Incorporated [NASDAQ:SYNA] is expected to bring in revenue of $1.29B. The returns are nearly $-40.0 million lower than the company’s actual revenue recorded in the fiscal year 2020. In terms of EPS for the 2021, estimate put it at 6.98, higher than that of FY20 by $1.03. Estimates put this year’s earnings growth at 17.30%, 8.50% for the next, and at an annual 10.00% over the next 5-year period. As for sales, forecasts are for a decrease of -3.00% in the current fiscal year and a further 4.50% over the following year.
