Synaptics Incorporated (SYNA) is Downgraded by Lake Street to Hold, Lowers Price Target to $ 57

Synaptics Incorporated (SYNA) was Downgraded by Lake Street to ” Hold” while Lowering the Price Target of the company shares to $ 57 from a previous price target of $74 . Earlier the firm had a rating of “Buy ” on the company shares. Lake Street advised their investors in a research report released on Jul 6, 2016.

Many Wall Street Analysts have commented on Synaptics Incorporated. Shares were Reiterated by Mizuho on Jun 16, 2016 to “Neutral” and Lowered the Price Target to $ 68 from a previous price target of $75 .Shares were Downgraded by Mizuho on Apr 29, 2016 to ” Neutral” and Lowered the Price Target to $ 75 from a previous price target of $95 .Synaptics Incorporated was Downgraded by Northland Capital to ” Market Perform” on Apr 29, 2016.

On the company’s financial health, Synaptics Incorporated reported $1.21 EPS for the quarter, missing the analyst consensus estimate by $ -0.30 based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus of $1.51. The company had revenue of $402.50 million for the quarter, compared to analysts expectations of $450.69 million. The company’s revenue was down -15.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.65 EPS.

Synaptics Incorporated closed down -1.32 points or -2.46% at $52.43 with 6,66,124 shares getting traded on Friday. Post opening the session at $53.41, the shares hit an intraday low of $52.14 and an intraday high of $54.1 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Jun 2, 2016, Rick Bergman (President and CEO) sold 10,000 shares at $67.39 per share price. According to the SEC, on Feb 2, 2016, Scott Deutsch (SVP of Worldwide Sales) sold 2,709 shares at $74.02 per share price. On Nov 12, 2015, Richard L Sanquini (director) sold 1,124 shares at $91.66 per share price, according to the Form-4 filing with the securities and exchange commission.

Synaptics Incorporated developer and supplier of custom-designed human interface solutions that enable people to interact more easily and intuitively with a wide variety of mobile computing communications entertainment and other electronic devices. The portfolio includes Display Driver ICs (DDICs) which drive high-performance displays for smartphones and tablets. The ClearPad family supports touchscreen solutions for devices ranging from entry-level mobile phones to flagship premium smartphones tablets and notebook PCs. The TouchPad family including ClickPad and ForcePad is integrated into the majority of today’s notebook PCs. Natural ID fingerprint sensor technology enables authentication mobile payments and touch-based navigation for smartphones tablets and notebook computers. Synaptics portfolio also includes ThinTouch supporting thin and light keyboard solutions as well as key technologies for next generation touch-enabled video and display applications.

Synaptics Incorporated

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