New Mexico Educational Retirement Board boosted its holdings in Synaptics Incorporated (NASDAQ:SYNA – Free Report) by 11.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,000 shares of the software maker’s stock after acquiring an additional 800 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Synaptics were worth $683,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of SYNA. Raymond James & Associates lifted its holdings in 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 in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Synaptics by 10.5% in the 1st 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 period. Bank of Montreal Can lifted its stake 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 purchasing an additional 826 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in Synaptics by 10.2% in the first quarter. Great West Life Assurance Co. Can now owns 22,202 shares of the software maker’s stock valued at $4,558,000 after buying an additional 2,052 shares during the last quarter. Finally, Vontobel Holding Ltd. increased its holdings in shares of Synaptics by 114.0% in the first quarter. Vontobel Holding Ltd. now owns 5,372 shares of the software maker’s stock valued at $1,072,000 after purchasing an additional 2,862 shares during the period. 91.51% of the stock is currently owned by hedge funds and other institutional investors.
Synaptics Trading Up 2.7 %
Shares of Synaptics stock opened at $90.32 on Wednesday. Synaptics Incorporated has a fifty-two week low of $67.73 and a fifty-two week high of $142.14. The firm has a market cap of $3.49 billion, a PE ratio of 49.90 and a beta of 1.52. The company has a quick ratio of 4.36, a current ratio of 4.89 and a debt-to-equity ratio of 0.78. The business’s fifty day moving average is $87.57 and its two-hundred day moving average is $88.90.
Insider Activity
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 transaction of $86,748.20. Following the completion of the sale, the insider now directly owns 10,379 shares in the company, valued at $951,754.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Synaptics news, insider John Mcfarland sold 946 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $91.70, for a total value of $86,748.20. Following the transaction, the insider now owns 10,379 shares of the company’s stock, valued at $951,754.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Saleel Awsare sold 5,000 shares of Synaptics stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $88.21, for a total value of $441,050.00. Following the sale, 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 sold 19,084 shares of company stock worth $1,708,067 over the last ninety days. Corporate insiders own 1.20% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have commented on SYNA. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of Synaptics in a report on Friday, September 8th. TD Cowen raised their target price on Synaptics from $86.00 to $95.00 and gave the stock an “outperform” rating in a research note on Friday, August 4th. KeyCorp raised their target price on Synaptics from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday. Mizuho reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Synaptics in a research note on Tuesday, September 19th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Synaptics in a research note on Wednesday, September 6th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $113.33.
Get Our Latest Analysis on SYNA
About Synaptics
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.
Featured Stories
- Five stocks we like better than Synaptics
- How to Calculate Inflation Rate
- Why Ralph Lauren Should Be On Your Holiday Wishlist
- How to Invest in the Healthcare Sector
- MarketBeat Stock of the Week, Amazon Goes Big on AI
- 3 Grocery Stocks That Can Help Take a Bite Out of Inflation
- Inflation is Why a Soft Landing is Bad for the Economy
Receive News & Ratings for Synaptics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synaptics and related companies with MarketBeat.com's FREE daily email newsletter.
