Synaptics Incorporated (NASDAQ:SYNA) Shares Sold by Occudo Quantitative Strategies LP

Occudo Quantitative Strategies LP trimmed its stake in shares of Synaptics Incorporated (NASDAQ:SYNA) by 7.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,979 shares of the software maker’s stock after selling 375 shares during the quarter. Occudo Quantitative Strategies LP’s holdings in Synaptics were worth $380,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Louisiana State Employees Retirement System boosted its position in shares of Synaptics by 1.8% in the 4th quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the software maker’s stock valued at $847,000 after purchasing an additional 200 shares during the period. State of Michigan Retirement System grew its holdings in Synaptics by 2.1% during the 4th quarter. State of Michigan Retirement System now owns 9,533 shares of the software maker’s stock valued at $728,000 after buying an additional 200 shares during the last quarter. Arizona State Retirement System grew its holdings in Synaptics by 1.8% during the 4th quarter. Arizona State Retirement System now owns 11,573 shares of the software maker’s stock valued at $883,000 after buying an additional 200 shares during the last quarter. Bridge City Capital LLC boosted its holdings in shares of Synaptics by 0.9% during the fourth quarter. Bridge City Capital LLC now owns 22,511 shares of the software maker’s stock worth $1,718,000 after purchasing an additional 201 shares during the last quarter. Finally, Inspire Advisors LLC boosted its holdings in shares of Synaptics by 2.7% during the fourth quarter. Inspire Advisors LLC now owns 8,175 shares of the software maker’s stock worth $624,000 after purchasing an additional 212 shares during the last quarter. 99.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on SYNA. Craig Hallum upgraded Synaptics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 29th. Mizuho decreased their target price on Synaptics from $90.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, March 24th. Needham & Company LLC started coverage on Synaptics in a research report on Friday, May 9th. They set a “buy” rating and a $80.00 price objective for the company. Susquehanna upped their target price on Synaptics from $95.00 to $105.00 and gave the stock a “positive” rating in a research report on Wednesday, January 22nd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $105.00 price target on shares of Synaptics in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $93.75.

Synaptics Trading Down 1.1%

NASDAQ SYNA opened at $65.38 on Friday. The company has a market capitalization of $2.56 billion, a PE ratio of 15.46 and a beta of 1.67. Synaptics Incorporated has a 1-year low of $41.80 and a 1-year high of $98.00. The firm’s fifty day simple moving average is $57.35 and its 200-day simple moving average is $69.65. The company has a current ratio of 3.88, a quick ratio of 3.36 and a debt-to-equity ratio of 0.60.

Synaptics (NASDAQ:SYNA) last released its quarterly earnings results on Thursday, May 8th. The software maker reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.05. The company had revenue of $266.60 million during the quarter, compared to analysts’ expectations of $265.03 million. Synaptics had a net margin of 16.73% and a return on equity of 1.61%. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.53 earnings per share. As a group, sell-side analysts anticipate that Synaptics Incorporated will post 0.96 earnings per share for the current fiscal year.

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.