What’s Ahead for Synaptics, Incorporated After Today’s Bearish Options Activity?

 What's Ahead for Synaptics, Incorporated After Today's Bearish Options Activity?

In today’s session Synaptics, Incorporated (SYNA) recorded an unusually high (516) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the October, 2016 put, expecting serious SYNA decrease. With 516 contracts traded and 5174 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: SYNA161021P00055000 closed last at: $1.7 or 24.4% down. About 57,469 shares traded hands. Synaptics, Incorporated (NASDAQ:SYNA) has declined 29.14% since March 2, 2016 and is downtrending. It has underperformed by 37.40% the S&P500.

Analysts await Synaptics, Incorporated (NASDAQ:SYNA) to report earnings on October, 27. They expect $0.68 EPS, down 43.33% or $0.52 from last year’s $1.2 per share. SYNA’s profit will be $23.36 million for 22.26 P/E if the $0.68 EPS becomes a reality. After $0.24 actual EPS reported by Synaptics, Incorporated for the previous quarter, Wall Street now forecasts 183.33% EPS growth.

Synaptics, Incorporated (NASDAQ:SYNA) Ratings Coverage

Out of 13 analysts covering Synaptics Inc (NASDAQ:SYNA), 6 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 46% are positive. $118 is the highest target while $57 is the lowest. The $82.58 average target is 36.38% above today’s ($60.55) stock price. Synaptics Inc has been the topic of 30 analyst reports since August 3, 2015 according to StockzIntelligence Inc. Northland Capital downgraded the shares of SYNA in a report on Friday, April 29 to “Market Perform” rating. Craig Hallum maintained it with “Buy” rating and $70 target price in Friday, July 29 report. The firm has “Buy” rating by Rosenblatt given on Tuesday, March 8. The stock of Synaptics, Incorporated (NASDAQ:SYNA) earned “Market Perform” rating by BMO Capital Markets on Friday, April 29. The stock has “Perform” rating given by Oppenheimer on Wednesday, January 20. Stifel Nicolaus maintained it with “Buy” rating and $95.0 target price in Friday, October 23 report. The stock of Synaptics, Incorporated (NASDAQ:SYNA) earned “Buy” rating by Mizuho on Friday, July 31. The firm earned “Outperform” rating on Friday, October 23 by Northland Capital. As per Friday, October 23, the company rating was maintained by Mizuho. The stock has “Buy” rating given by Lake Street on Tuesday, January 12.

According to Zacks Investment Research, “Synaptics is a leading developer of human interface solutions for a wide variety of mobile computing and communications devices and is the leading supplier of TouchPads to the notebook computer market. Products include the TouchPad input device, TouchStyk pointing stick, Dual Pointing combination input solution, ClearPad touch screen, Spiral pen input solution, and QuickStroke Chinese handwriting software.”

Insitutional Activity: The institutional sentiment decreased to 0.79 in 2016 Q2. Its down 0.39, from 1.18 in 2016Q1. The ratio turned negative, as 55 funds sold all Synaptics, Incorporated shares owned while 101 reduced positions. 39 funds bought stakes while 84 increased positions. They now own 30.84 million shares or 8.93% less from 33.86 million shares in 2016Q1.
Blackrock Japan Company has 0% invested in the company for 14,407 shares. The New Jersey-based Hgk Asset Management has invested 0.06% in Synaptics, Incorporated (NASDAQ:SYNA). The Ohio-based Fifth Third Bank & Trust has invested 0% in Synaptics, Incorporated (NASDAQ:SYNA). Moreover, Dreman Value Mgmt L L C has 0.08% invested in Synaptics, Incorporated (NASDAQ:SYNA) for 2,332 shares. Segall Bryant Hamill has 37,111 shares for 0.05% of their US portfolio. Raging Capital Management Lc reported 240,962 shares or 1.99% of all its holdings. Seven Eight Cap Llc holds 3,463 shares or 0.06% of its portfolio. Virginia Retirement Et Al reported 6,900 shares or 0.01% of all its holdings. Paloma Mgmt holds 0% or 7,720 shares in its portfolio. The Georgia-based Advisory Service Network Limited Co has invested 0.04% in Synaptics, Incorporated (NASDAQ:SYNA). Art Advisors Ltd Llc has invested 0.07% of its portfolio in Synaptics, Incorporated (NASDAQ:SYNA). Ahl Prtnrs Llp holds 0.03% of its portfolio in Synaptics, Incorporated (NASDAQ:SYNA) for 9,721 shares. Alliancebernstein L P last reported 0.02% of its portfolio in the stock. Moreover, Eventide Asset Ltd Limited Liability Company has 1.28% invested in Synaptics, Incorporated (NASDAQ:SYNA) for 390,500 shares. Lsv Asset, a Illinois-based fund reported 2,900 shares.

Insider Transactions: Since May 9, 2016, the stock had 0 insider purchases, and 6 selling transactions for $2.66 million net activity. Bergman Rick sold $659,933 worth of stock. The insider McFarland John sold $16,620.

Synaptics Incorporated is engaged in the development, marketing and sale of intuitive human interface solutions for electronic devices and products. The company has a market cap of $2.08 billion. The Firm 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. It has a 31.87 P/E ratio. The Company’s products include ClearPad, ClearView, TouchView, Natural ID, TouchPad, SecurePad, ClickPad and ForcePad.

SYNA Company Profile

Synaptics Incorporated, incorporated on January 7, 2002, is engaged in the development, marketing and sale of intuitive human interface solutions for electronic devices and products. The Firm 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. The Company’s products include ClearPad, ClearView, TouchView, Natural ID, TouchPad, SecurePad, ClickPad and ForcePad. The Company’s other product solutions include dual pointing solutions, TouchStyk, and TouchButtons. The Company’s dual pointing solutions offer TouchPad with a pointing stick in a single notebook computer, enabling users to select their interface of choice. TouchStyk is a self-contained pointing stick module that uses capacitive technology similar to that used in its TouchPad. TouchButtons provide capacitive buttons and scrolling controls for an interface solution designed to replace mechanical buttons.

More notable recent Synaptics, Incorporated (NASDAQ:SYNA) news were published by: Fool.com which released: “Why Synaptics, Incorporated Stock Plunged Today” on June 17, 2016, also Fool.com with their article: “Synaptics Incorporated Stock: A Value Investor’s Dream?” published on June 25, 2016, Fool.com published: “How Synaptics Incorporated Fell 10.3% in April” on May 11, 2016. More interesting news about Synaptics, Incorporated (NASDAQ:SYNA) were released by: Fool.com and their article: “Why Synaptics Incorporated Stock Is an Absolute Steal” published on September 30, 2015 as well as Fool.com‘s news article titled: “Synaptics Incorporated Catches a Break as this Apple Inc. Chip Project …” with publication date: November 12, 2015.

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