Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Synaptics Incorporated (NASDAQ:SYNA – Free Report) in the 2nd quarter, HoldingsChannel reports. The fund purchased 40,419 shares of the software maker’s stock, valued at approximately $5,021,000.
A number of other institutional investors have also added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Synaptics by 5.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 90,704 shares of the software maker’s stock valued at $5,780,000 after purchasing an additional 4,917 shares during the period. M&T Bank Corp bought a new stake in shares of Synaptics during the second quarter worth about $205,000. First Trust Advisors LP lifted its position in Synaptics by 9.8% in the 2nd quarter. First Trust Advisors LP now owns 60,393 shares of the software maker’s stock valued at $3,915,000 after acquiring an additional 5,393 shares in the last quarter. Marshall Wace LLP boosted its stake in Synaptics by 472.1% during the 2nd quarter. Marshall Wace LLP now owns 89,490 shares of the software maker’s stock valued at $5,801,000 after purchasing an additional 73,848 shares during the last quarter. Finally, Federated Hermes Inc. increased its holdings in Synaptics by 9.1% during the 2nd quarter. Federated Hermes Inc. now owns 23,352 shares of the software maker’s stock worth $1,514,000 after purchasing an additional 1,939 shares in the last quarter. 99.43% of the stock is owned by institutional investors and hedge funds.
Synaptics Trading Down 0.3%
Shares of SYNA stock opened at $97.66 on Friday. The business has a 50-day moving average price of $117.40 and a two-hundred day moving average price of $103.37. Synaptics Incorporated has a 12-month low of $58.28 and a 12-month 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 firm has a market cap of $3.82 billion, a P/E ratio of -7.72 and a beta of 1.99.
Insider Activity at Synaptics
In related news, insider Lisa Bodensteiner sold 6,056 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $103.62, for a total transaction of $627,522.72. Following the transaction, the insider owned 78,634 shares of the company’s stock, valued at approximately $8,148,055.08. This trade represents a 7.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Esther Song sold 8,833 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $141.17, for a total transaction of $1,246,954.61. Following the completion of the sale, the insider directly owned 12,421 shares of the company’s stock, valued at $1,753,472.57. This represents a 41.56% decrease in their ownership of the stock. 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. In the last 90 days, insiders have sold 21,115 shares of company stock valued at $2,569,887. Insiders own 0.50% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on SYNA shares. Weiss Ratings lowered shares of Synaptics from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Rosenblatt Securities lowered their target price on Synaptics from $160.00 to $115.00 and set a “neutral” rating on the stock in a research note on Friday, August 7th. Deutsche Bank Aktiengesellschaft downgraded shares of Synaptics from a “buy” rating to a “hold” rating and set a $125.00 price objective for the company. in a report on Monday, June 29th. Mizuho increased their price objective on Synaptics from $128.00 to $170.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Finally, Susquehanna cut their price target on shares of Synaptics from $140.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Synaptics presently has a consensus rating of “Hold” and a consensus price target of $123.91.
View Our Latest Stock Analysis on Synaptics
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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