Synaptics Incorporated $SYNA Shares Bought by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC grew its stake in shares of Synaptics Incorporated (NASDAQ:SYNA) by 197,700.0% in the 2nd quarter, Holdings Channel reports. The firm owned 9,890 shares of the software maker’s stock after acquiring an additional 9,885 shares during the quarter. Pier 88 Investment Partners LLC’s holdings in Synaptics were worth $641,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Teacher Retirement System of Texas acquired a new position in Synaptics during the 1st quarter valued at approximately $373,000. CWM LLC lifted its stake in Synaptics by 32.2% in the first quarter. CWM LLC now owns 1,403 shares of the software maker’s stock valued at $89,000 after buying an additional 342 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Synaptics by 11.8% during the first quarter. Victory Capital Management Inc. now owns 645,727 shares of the software maker’s stock valued at $41,146,000 after acquiring an additional 67,975 shares during the period. Segall Bryant & Hamill LLC bought a new position in shares of Synaptics during the first quarter worth about $31,801,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Synaptics in the 1st quarter worth about $25,000. Institutional investors own 99.43% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. TD Cowen lifted their price objective on shares of Synaptics from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Friday. Zacks Research raised Synaptics from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Weiss Ratings reissued a “sell (d)” rating on shares of Synaptics in a report on Wednesday, October 8th. Wall Street Zen upgraded Synaptics from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $85.00 price target on shares of Synaptics in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.29.

Synaptics Price Performance

NASDAQ SYNA opened at $66.08 on Friday. Synaptics Incorporated has a 12 month low of $41.80 and a 12 month high of $89.81. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.78 and a quick ratio of 2.26. The firm has a market capitalization of $2.58 billion, a PE ratio of -54.61, a P/E/G ratio of 3.03 and a beta of 1.63. The company’s 50 day simple moving average is $69.66 and its 200 day simple moving average is $65.99.

Synaptics (NASDAQ:SYNA) last released its earnings results on Thursday, November 6th. The software maker reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The firm had revenue of $292.50 million during the quarter, compared to the consensus estimate of $289.93 million. Synaptics had a positive return on equity of 4.32% and a negative net margin of 4.45%.The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.81 earnings per share. Synaptics has set its Q2 2026 guidance at 1.000-1.300 EPS. As a group, equities research analysts forecast that Synaptics Incorporated will post 0.96 EPS for the current fiscal year.

Synaptics declared that its Board of Directors has authorized a stock buyback plan on Thursday, August 7th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the software maker to reacquire up to 6.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

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.