Pacer Advisors Inc. lessened its holdings in Synaptics Incorporated (NASDAQ:SYNA – Free Report) by 51.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,711 shares of the software maker’s stock after selling 4,995 shares during the period. Pacer Advisors Inc.’s holdings in Synaptics were worth $330,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. CIBC Private Wealth Group LLC raised its holdings in Synaptics by 119.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 349 shares of the software maker’s stock valued at $26,000 after buying an additional 190 shares during the period. Leonteq Securities AG purchased a new position in Synaptics during the fourth quarter worth about $43,000. Lazard Asset Management LLC acquired a new stake in shares of Synaptics during the second quarter valued at about $54,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Synaptics in the 4th quarter valued at approximately $70,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Synaptics by 21.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,119 shares of the software maker’s stock valued at $83,000 after acquiring an additional 200 shares during the period. 99.43% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on SYNA. Zacks Research raised shares of Synaptics from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 7th. Northland Securities lowered Synaptics from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 26th. Barclays reaffirmed an “equal weight” rating and issued a $135.00 price objective (up from $110.00) on shares of Synaptics in a research note on Friday, June 26th. TD Cowen downgraded Synaptics from a “buy” rating to a “hold” rating in a report on Friday, June 26th. Finally, JPMorgan Chase & Co. increased their target price on Synaptics from $100.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $123.91.
Insider Activity at Synaptics
In related news, insider Lisa Bodensteiner sold 612 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $114.83, for a total transaction of $70,275.96. Following the completion of the transaction, the insider directly owned 63,106 shares of the company’s stock, valued at $7,246,461.98. The trade was a 0.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Esther Song sold 8,833 shares of the company’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $141.17, for a total value of $1,246,954.61. Following the sale, the insider owned 12,421 shares in the company, valued at approximately $1,753,472.57. This trade represents a 41.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 11,649 shares of company stock worth $1,603,484. Company insiders own 0.50% of the company’s stock.
Synaptics Price Performance
Synaptics stock opened at $106.92 on Wednesday. The firm has a market cap of $4.13 billion, a PE ratio of -8.45 and a beta of 1.99. Synaptics Incorporated has a 52-week low of $58.28 and a 52-week high of $149.11. The company has a quick ratio of 0.90, a current ratio of 1.12 and a debt-to-equity ratio of 0.43. The company’s 50 day moving average is $122.22 and its two-hundred day moving average is $102.40.
Synaptics (NASDAQ:SYNA – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The software maker reported $1.23 EPS for the quarter, topping the consensus estimate of $1.21 by $0.02. Synaptics had a negative net margin of 41.00% and a positive return on equity of 4.37%. The business had revenue of $308.00 million during the quarter, compared to the consensus estimate of $305.32 million. During the same quarter in the previous year, the firm posted $1.01 earnings per share. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, research analysts expect that Synaptics Incorporated will post 1.75 EPS for the current fiscal year.
About Synaptics
Synaptics Incorporated is a global developer and supplier of human interface solutions for computing, networking, communications, and entertainment devices. The company specializes in the design, development and integration of custom chips and software that enable intuitive, natural user interactions. Synaptics solutions support touch, display, audio and biometrics functions, facilitating seamless human-to-machine interfaces across a broad range of end markets.
Key product offerings include touch controllers for laptops and tablets, capacitive touchscreens and display drivers for mobile devices, fingerprint sensors and secure authentication modules, as well as advanced audio processing and voice enhancement technologies.
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