State Board of Administration of Florida Retirement System Has $932,000 Position in Synaptics Incorporated (NASDAQ:SYNA)

Posted by Defense World Staff on Sep 21st, 2023

State Board of Administration of Florida Retirement System lessened its holdings in shares of Synaptics Incorporated (NASDAQ:SYNA – Free Report) by 25.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 8,384 shares of the software maker’s stock after selling 2,920 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Synaptics were worth $932,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in SYNA. Raymond James & Associates boosted its position in shares of Synaptics by 48.6% in the 1st quarter. Raymond James & Associates now owns 4,571 shares of the software maker’s stock worth $912,000 after purchasing an additional 1,495 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Synaptics by 10.5% during the first quarter. PNC Financial Services Group Inc. now owns 1,352 shares of the software maker’s stock worth $270,000 after buying an additional 128 shares during the last quarter. Bank of Montreal Can grew its position in shares of Synaptics by 27.5% during the 1st quarter. Bank of Montreal Can now owns 3,829 shares of the software maker’s stock worth $809,000 after buying an additional 826 shares during the period. Great West Life Assurance Co. Can grew its position in shares of Synaptics by 10.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 22,202 shares of the software maker’s stock worth $4,558,000 after buying an additional 2,052 shares during the period. Finally, Vontobel Holding Ltd. increased its stake in shares of Synaptics by 114.0% in the 1st quarter. Vontobel Holding Ltd. now owns 5,372 shares of the software maker’s stock valued at $1,072,000 after acquiring an additional 2,862 shares during the last quarter. Institutional investors own 91.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SYNA. StockNews.com started coverage on shares of Synaptics in a report on Thursday, August 17th. They set a “hold” rating for the company. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of Synaptics in a report on Friday, September 8th. Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 price objective on shares of Synaptics in a research note on Wednesday, September 6th. Susquehanna decreased their target price on Synaptics from $115.00 to $100.00 and set a “positive” rating for the company in a research note on Friday, August 4th. Finally, Mizuho restated a “buy” rating and issued a $115.00 price target on shares of Synaptics in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $112.08.

View Our Latest Stock Report on Synaptics

Synaptics Trading Down 1.8 %

NASDAQ SYNA opened at $82.47 on Thursday. The stock has a market capitalization of $3.18 billion, a price-to-earnings ratio of 45.56 and a beta of 1.55. Synaptics Incorporated has a 52 week low of $67.73 and a 52 week high of $142.14. The stock’s 50 day moving average price is $88.42 and its two-hundred day moving average price is $90.51. The company has a debt-to-equity ratio of 0.78, a quick ratio of 4.36 and a current ratio of 4.89.

Synaptics (NASDAQ:SYNA – Get Free Report) last announced its quarterly earnings data on Thursday, August 3rd. The software maker reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.22. The business had revenue of $227.30 million for the quarter, compared to analyst estimates of $224.34 million. Synaptics had a net margin of 5.43% and a return on equity of 17.11%. The firm’s revenue for the quarter was down 52.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.21 earnings per share. As a group, analysts anticipate that Synaptics Incorporated will post 0.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider John Mcfarland sold 946 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $91.70, for a total value of $86,748.20. Following the completion of the transaction, the insider now owns 10,379 shares in the company, valued at approximately $951,754.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider John Mcfarland sold 946 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $91.70, for a total transaction of $86,748.20. Following the completion of the transaction, the insider now directly owns 10,379 shares of the company’s stock, valued at $951,754.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Saleel Awsare sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $88.21, for a total value of $441,050.00. Following the transaction, the insider now directly owns 43,084 shares in the company, valued at approximately $3,800,439.64. The disclosure for this sale can be found here. Insiders have sold 19,084 shares of company stock valued at $1,708,067 in the last three months. 1.20% of the stock is currently owned by corporate insiders.

Synaptics Company Profile

(Free Report)

Synaptics Incorporated develops, markets, and sells semiconductor products worldwide. The company offers AudioSmart for voice and audio processing; ConnectSmart for high-speed video/audio/data connectivity; DisplayLink for transmitting compressed video frames across low bandwidth connections; VideoSmart that enables set-top boxes, over-the-top, streaming devices, soundbars, surveillance cameras, and smart displays; and ImagingSmart solutions.