Analyst Downgrades: Synaptics Depomed, and Gold Fields

Analysts downwardly revised their ratings and price targets on Synaptics, Incorporated (SYNA), Depomed Inc (DEPO), and Gold Fields Limited (ADR) (GFI)

Dec 12, 2016 at 9:57 AM
facebook twitter linkedin

Analysts are weighing in on tech stock Synaptics, Incorporated (NASDAQ:SYNA), drugmaker Depomed Inc (NASDAQ:DEPO), and gold concern Gold Fields Limited (ADR) (NYSE:GFI). Here's a quick roundup of today's bearish brokerage notes on SYNA, DEPO, and GFI.

  • A downgrade to "underperform" from "perform" at Oppenheimer has SYNA down 2.5% at $54.99 this morning, widening its year-to-date deficit to 31.6%. The brokerage firm explained, "market and customer demands are not in favor of SYNA." The stock has spent the past month running into trouble in the $55-$58 range, which served as support throughout September. Meanwhile pessimism toward the equity has been building. During the most recent two-week reporting period, short interest on Synaptics, Incorporated climbed nearly 27%. These bearish bets now represent 12.6% of SYNA's available float, or more than a week's worth of trading, at the stock's average daily volume. 

  • DEPO saw its rating cut to "underweight" from "neutral" at Piper Jaffray, sending the stock sliding 9% to $18.38 -- and landing it on the short-sale restricted list. Depomed Inc is now up less than 2% in 2016, and testing recent support in the $18.50 region. While options volume on the stock tends to run light on an absolute basis, speculators have been taking an extremely call-skewed approach in recent weeks. Specifically, DEPO's 10-day call/put volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) clocks in at a top-heavy 83.52 -- just 5 percentage points from an annual high. 

  • RBC lowered its rating on GFI to "sector perform" from "outperform," but the stock is up 2.1% at $2.96. That said, GFI has been sliding down the charts for months, dropping 55% from its August three-year high of $6.60. In the options pits, call buying remains popular on an absolute basis. And bears may be backing off elsewhere -- short interest on Gold Fields Limited (ADR) dropped by 13% during the most recent reporting period to account for just 0.4% of the stock's total float. 
Find out where the Dow lands right after the closing bell. Sign up now for Schaeffer's Market Recap

Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 


300x250 - Banner 3 - v1