Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in Synaptics Incorporated (NASDAQ:SYNA – Get Rating) by 24.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 25,844 shares of the software maker’s stock after purchasing an additional 5,042 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. owned about 0.07% of Synaptics worth $2,393,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the business. Moors & Cabot Inc. grew its position in shares of Synaptics by 10.8% in the 4th quarter. Moors & Cabot Inc. now owns 9,460 shares of the software maker’s stock valued at $2,739,000 after purchasing an additional 920 shares during the period. Retirement Systems of Alabama grew its position in shares of Synaptics by 25.4% in the 4th quarter. Retirement Systems of Alabama now owns 65,052 shares of the software maker’s stock valued at $6,190,000 after purchasing an additional 13,180 shares during the period. Pacer Advisors Inc. grew its position in shares of Synaptics by 74.0% in the 4th quarter. Pacer Advisors Inc. now owns 8,751 shares of the software maker’s stock valued at $833,000 after purchasing an additional 3,721 shares during the period. Harvest Fund Management Co. Ltd grew its position in shares of Synaptics by 203.5% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 777 shares of the software maker’s stock valued at $61,000 after purchasing an additional 521 shares during the period. Finally, Ellevest Inc. grew its position in shares of Synaptics by 169.4% in the 4th quarter. Ellevest Inc. now owns 2,155 shares of the software maker’s stock valued at $205,000 after purchasing an additional 1,355 shares during the period. 90.40% of the stock is currently owned by institutional investors and hedge funds.
Synaptics Stock Up 2.6 %
SYNA opened at $76.27 on Friday. Synaptics Incorporated has a 1-year low of $67.73 and a 1-year high of $167.30. The stock’s fifty day simple moving average is $102.66 and its 200 day simple moving average is $104.47. The company has a current ratio of 4.96, a quick ratio of 3.83 and a debt-to-equity ratio of 0.74. The stock has a market cap of $3.01 billion, a PE ratio of 17.18 and a beta of 1.55.
Synaptics declared that its Board of Directors has approved a share repurchase plan on Wednesday, May 3rd that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the software maker to purchase up to 14.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
Insider Activity at Synaptics
In related news, insider Saleel Awsare sold 5,000 shares of the stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $115.28, for a total value of $576,400.00. Following the sale, the insider now owns 33,755 shares in the company, valued at approximately $3,891,276.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Synaptics news, insider Dean Warren Butler sold 1,350 shares of the company’s stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $119.36, for a total value of $161,136.00. Following the transaction, the insider now directly owns 34,396 shares of the company’s stock, valued at approximately $4,105,506.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Saleel Awsare sold 5,000 shares of the company’s stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $115.28, for a total value of $576,400.00. Following the completion of the transaction, the insider now directly owns 33,755 shares in the company, valued at $3,891,276.40. The disclosure for this sale can be found here. 0.80% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on SYNA. Susquehanna decreased their price objective on Synaptics from $140.00 to $115.00 in a research report on Thursday. BMO Capital Markets reduced their price target on Synaptics from $135.00 to $80.00 in a research report on Thursday. Wells Fargo & Company reduced their price target on Synaptics from $105.00 to $75.00 in a research report on Thursday. Needham & Company LLC reduced their price target on Synaptics from $165.00 to $115.00 in a research report on Thursday. Finally, Oppenheimer upped their price target on Synaptics from $185.00 to $195.00 in a research report on Monday, April 24th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $124.55.
About Synaptics
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.
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