Synaptics Incorporated (NASDAQ: SYNA) stock jumped 7.66% on Monday to $124.19 against a previous-day closing price of $115.35. With 0.66 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.48 million shares. During the session, the Semiconductors company that operates in wider Technology sector, reached to the highest price of $124.42 whereas the lowest price it dropped to was $116.32. The 52-week range on SYNA shows that it touched its highest point at $239.88 and its lowest point at $81.13 during that stretch. It currently has a 1-year price target of $120.50. Beta for the stock currently stands at 1.48.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SYNA was up-trending over the past week, with a rise of 9.51%, but this was up by 29.43% over a month. Three-month performance surged to 43.61% while six-month performance fell -8.55%. The stock lost -40.04% in the past year, while it has gained 30.51% so far this year. A look at the trailing 12-month EPS for SYNA yields 6.93 with Next year EPS estimates of 10.38. For the next quarter, that number is 2.34. This implies an EPS growth rate of 204.40% for this year and 4.44% for next year. EPS is expected to grow by 15.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 35.80%.
Float and Shares Shorts:
At present, 39.80 million SYNA shares are outstanding with a float of 39.46 million shares on hand for trading. On Oct 13, 2022, short shares totaled 3.01 million, which was 7.52% higher than short shares on Sep 14, 2022. In addition to Mr. Michael E. Hurlston as the firm’s Pres, CEO & Director, Mr. Dean Warren Butler serves as its Sr. VP & CFO.
Through their ownership of 99.39% of SYNA’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 56.42% of SYNA, in contrast to 4.53% held by mutual funds. Shares owned by individuals account for 39.25%. As the largest shareholder in SYNA with 12.20% of the stake, Fidelity Management & Research Co holds 4,866,038 shares worth 4,866,038. A second-largest stockholder of SYNA, BlackRock Fund Advisors, holds 4,408,418 shares, controlling over 11.06% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in SYNA, holding 3,924,391 shares or 9.84% stake. With a 5.47% stake in SYNA, the Columbia Seligman Technology & In is the largest stakeholder. A total of 2,180,645 shares are owned by the mutual fund manager. The Fidelity Contrafund, which owns about 3.77% of SYNA stock, is the second-largest Mutual Fund holder. It holds 1,503,884 shares valued at 143.11 million. iShares Core S&P Mid Cap ETF holds 3.09% of the stake in SYNA, owning 1,230,095 shares worth 117.06 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SYNA since 11 analysts follow the stock currently. There are 7 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 2 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With SYNA analysts setting a high price target of $160.00 and a low target of $90.00, the average target price over the next 12 months is $120.50. Based on these targets, SYNA could surge 28.83% to reach the target high and fall by -27.53% to reach the target low. Reaching the average price target will result in a decline of -2.97% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. SYNA will report FY 2023 earnings on 08/03/2023. Analysts have provided yearly estimates in a range of $10.73 being high and $8.80 being low. For SYNA, this leads to a yearly average estimate of $9.89. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Synaptics Incorporated surprised analysts by $0.23 when it reported $3.52 EPS against a consensus estimate of $3.29. The surprise factor in the prior quarter was $0.20. Based on analyst estimates, the high estimate for the next quarter is $2.37 and the low estimate is $2.30. The average estimate for the next quarter is thus $2.34.
Summary of Insider Activity:
Insiders traded SYNA stock several times over the past three months with 18 Buys and 19 Sells. In these transactions, 79,281 shares were bought while 113,341 shares were sold. The number of buy transactions has increased to 38 while that of sell transactions has risen to 47 over the past year. The total number of shares bought during that period was 423,041 while 347,130 shares were sold.