Strs Ohio raised its stake in Synaptics Incorporated (NASDAQ:SYNA – Free Report) by 7.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,300 shares of the software maker’s stock after acquiring an additional 300 shares during the quarter. Strs Ohio’s holdings in Synaptics were worth $367,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYNA. Raymond James & Associates increased its position in Synaptics by 48.6% in the 1st quarter. Raymond James & Associates now owns 4,571 shares of the software maker’s stock valued at $912,000 after acquiring an additional 1,495 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Synaptics by 10.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,352 shares of the software maker’s stock valued at $270,000 after acquiring an additional 128 shares in the last quarter. Bank of Montreal Can increased its position in Synaptics by 27.5% in the 1st quarter. Bank of Montreal Can now owns 3,829 shares of the software maker’s stock valued at $809,000 after acquiring an additional 826 shares in the last quarter. 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. grew its position in shares of Synaptics by 114.0% during the 1st quarter. Vontobel Holding Ltd. now owns 5,372 shares of the software maker’s stock worth $1,072,000 after buying an additional 2,862 shares during the period. Institutional investors and hedge funds own 91.51% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on SYNA shares. TD Cowen lifted their price target on shares of Synaptics from $86.00 to $95.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. KeyCorp lifted their price target on shares of Synaptics from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 3rd. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Synaptics in a research report on Friday, September 8th. Wells Fargo & Company reduced their price objective on shares of Synaptics from $95.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Friday, August 4th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $100.00 price objective on shares of Synaptics in a research note on Wednesday, September 6th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $113.33.
Insider Transactions at Synaptics
In other news, insider John Mcfarland sold 946 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $91.70, for a total value of $86,748.20. Following the sale, the insider now owns 10,379 shares of the company’s stock, valued at $951,754.30. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Saleel Awsare sold 5,000 shares of the business’s stock in a transaction 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 owns 43,084 shares of the company’s stock, valued at $3,800,439.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider John Mcfarland sold 946 shares of the business’s stock in a transaction 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 transaction, the insider now owns 10,379 shares in the company, valued at $951,754.30. The disclosure for this sale can be found here. Insiders have sold a total of 19,084 shares of company stock valued at $1,708,067 over the last 90 days. 1.20% of the stock is owned by corporate insiders.
Synaptics Stock Performance
Shares of SYNA opened at $81.96 on Tuesday. 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 Incorporated has a twelve month low of $67.73 and a twelve month high of $142.14. The firm’s 50 day moving average price is $87.75 and its two-hundred day moving average price is $86.98. The firm has a market cap of $3.16 billion, a P/E ratio of 45.28 and a beta of 1.52.
Synaptics (NASDAQ:SYNA – Get Free Report) last announced its quarterly earnings results on Thursday, August 3rd. The software maker reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.22. Synaptics had a net margin of 5.43% and a return on equity of 17.11%. The firm had revenue of $227.30 million for the quarter, compared to analyst estimates of $224.34 million. During the same quarter in the previous year, the firm posted $3.21 earnings per share. The business’s revenue was down 52.3% on a year-over-year basis. On average, analysts forecast that Synaptics Incorporated will post 0.63 EPS for the current fiscal year.
Synaptics Company Profile
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.
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