First Trust Advisors LP raised its stake in Synaptics Incorporated (NASDAQ:SYNA – Get Rating) by 99.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 53,861 shares of the software maker’s stock after purchasing an additional 26,872 shares during the period. First Trust Advisors LP owned 0.14% of Synaptics worth $5,125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System grew its stake in Synaptics by 1.9% in the fourth quarter. Louisiana State Employees Retirement System now owns 10,700 shares of the software maker’s stock valued at $1,018,000 after purchasing an additional 200 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of Synaptics by 24.2% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 25,844 shares of the software maker’s stock worth $2,393,000 after acquiring an additional 5,042 shares during the last quarter. Comerica Bank grew its stake in shares of Synaptics by 56.8% during the fourth quarter. Comerica Bank now owns 117,114 shares of the software maker’s stock worth $13,276,000 after acquiring an additional 42,425 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Synaptics by 2.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 771,803 shares of the software maker’s stock worth $73,444,000 after acquiring an additional 18,500 shares during the last quarter. Finally, Trigran Investments Inc. grew its stake in shares of Synaptics by 38.9% during the third quarter. Trigran Investments Inc. now owns 688,202 shares of the software maker’s stock worth $68,139,000 after acquiring an additional 192,778 shares during the last quarter. Hedge funds and other institutional investors own 90.40% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on SYNA. Mizuho dropped their price target on Synaptics from $155.00 to $130.00 in a research note on Thursday, May 4th. Susquehanna dropped their price target on Synaptics from $140.00 to $115.00 in a research note on Thursday, May 4th. StockNews.com initiated coverage on Synaptics in a research note on Thursday, May 18th. They set a “hold” rating on the stock. BMO Capital Markets decreased their target price on Synaptics from $135.00 to $80.00 in a report on Thursday, May 4th. Finally, Oppenheimer lifted their target price on Synaptics from $185.00 to $195.00 in a report on Monday, April 24th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Synaptics presently has an average rating of “Moderate Buy” and a consensus price target of $124.55.
Insider Buying and Selling at Synaptics
Synaptics Trading Up 5.9 %
Shares of NASDAQ:SYNA opened at $85.69 on Friday. Synaptics Incorporated has a 12-month low of $67.73 and a 12-month high of $154.68. The company has a market capitalization of $3.39 billion, a PE ratio of 19.30 and a beta of 1.55. The business has a 50 day moving average of $92.81 and a two-hundred day moving average of $103.53. The company has a current ratio of 4.96, a quick ratio of 4.41 and a debt-to-equity ratio of 0.74.
Synaptics announced that its board has approved a share buyback plan on Wednesday, May 3rd that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the software maker to repurchase up to 14.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
Synaptics Profile
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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