Mizuho Securities Sticks to Its Buy Rating for Synaptics (SYNA)

By Austin Angelo

In a report released yesterday, Vijay Rakesh from Mizuho Securities maintained a Buy rating on Synaptics (SYNAResearch Report), with a price target of $77.00. The company’s shares closed last Thursday at $69.01.

According to TipRanks.com, Rakesh is a 5-star analyst with an average return of 15.1% and a 57.6% success rate. Rakesh covers the Technology sector, focusing on stocks such as Advanced Micro Devices, NXP Semiconductors, and Skyworks Solutions.

Synaptics has an analyst consensus of Hold, with a price target consensus of $78.75, which is a 16.5% upside from current levels. In a report issued on May 5, Needham also maintained a Buy rating on the stock with a $100.00 price target.

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Based on Synaptics’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $388 million and net profit of $19.8 million. In comparison, last year the company earned revenue of $426 million and had a net profit of $12.8 million.

Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SYNA in relation to earlier this year. Last month, Nelson Chan, a Director at SYNA bought 18,750 shares for a total of $595,500.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Synaptics, Inc. engages in the development, marketing, and sale of human interface semiconductor solutions for electronic devices and products. It specializes in custom-designed human interface that enable people to interact with mobile computing, communications, entertainment, and other electronic devices. It operates through the following geographical segments: China, Japan, United States, South Korea, Taiwan, and Other. The company was founded by Federico Faggin and Carver A. Mead in March 1986 and is headquartered in San Jose, CA.