Twinbeech Capital LP Buys 26,373 Shares of Synaptics Incorporated (NASDAQ:SYNA)

Twinbeech Capital LP increased its stake in shares of Synaptics Incorporated (NASDAQ:SYNA) by 183.3% in the fourth quarter, Holdings Channel reports. The firm owned 40,759 shares of the software maker’s stock after buying an additional 26,373 shares during the quarter. Twinbeech Capital LP’s holdings in Synaptics were worth $3,111,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brown Brothers Harriman & Co. acquired a new position in Synaptics in the fourth quarter valued at about $31,000. Aster Capital Management DIFC Ltd acquired a new position in Synaptics in the fourth quarter valued at about $43,000. Kayne Anderson Rudnick Investment Management LLC acquired a new position in Synaptics in the fourth quarter valued at about $72,000. Sterling Capital Management LLC increased its position in shares of Synaptics by 811.8% in the 4th quarter. Sterling Capital Management LLC now owns 1,158 shares of the software maker’s stock valued at $88,000 after buying an additional 1,031 shares in the last quarter. Finally, KBC Group NV raised its stake in Synaptics by 87.4% during the 4th quarter. KBC Group NV now owns 1,795 shares of the software maker’s stock worth $137,000 after buying an additional 837 shares during the period. Institutional investors own 99.43% of the company’s stock.

Analyst Upgrades and Downgrades

SYNA has been the subject of several recent analyst reports. Mizuho lowered their price target on Synaptics from $90.00 to $80.00 and set an “outperform” rating for the company in a report on Monday, March 24th. Rosenblatt Securities reiterated a “buy” rating and issued a $105.00 price objective on shares of Synaptics in a research report on Thursday, February 27th. Susquehanna raised their target price on shares of Synaptics from $95.00 to $105.00 and gave the stock a “positive” rating in a report on Wednesday, January 22nd. Craig Hallum raised shares of Synaptics from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 29th. Finally, Needham & Company LLC assumed coverage on shares of Synaptics in a report on Friday, May 9th. They issued a “buy” rating and a $80.00 price target for the company. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $93.75.

Synaptics Stock Up 1.9%

NASDAQ:SYNA opened at $65.00 on Wednesday. The stock has a 50-day simple moving average of $57.48 and a 200 day simple moving average of $69.49. Synaptics Incorporated has a 52-week low of $41.80 and a 52-week high of $98.00. The company has a market cap of $2.51 billion, a PE ratio of 15.37 and a beta of 1.67. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.36 and a current ratio of 3.88.

Synaptics (NASDAQ:SYNA) last released its quarterly earnings results on Thursday, May 8th. The software maker reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.05. The firm had revenue of $266.60 million during the quarter, compared to the consensus estimate of $265.03 million. Synaptics had a return on equity of 1.61% and a net margin of 16.73%. The business’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 EPS. On average, sell-side analysts expect that Synaptics Incorporated will post 0.96 EPS 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.