Retirement Systems of Alabama raised its position in shares of Synaptics Incorporated (NASDAQ:SYNA – Get Rating) by 0.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 51,859 shares of the software maker’s stock after purchasing an additional 434 shares during the quarter. Retirement Systems of Alabama’s holdings in Synaptics were worth $10,346,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Bridgewater Advisors Inc. boosted its stake in Synaptics by 0.3% during the 4th quarter. Bridgewater Advisors Inc. now owns 16,718 shares of the software maker’s stock valued at $4,840,000 after purchasing an additional 49 shares in the last quarter. Koshinski Asset Management Inc. boosted its stake in Synaptics by 23.8% during the 4th quarter. Koshinski Asset Management Inc. now owns 260 shares of the software maker’s stock valued at $75,000 after purchasing an additional 50 shares in the last quarter. Meritage Portfolio Management lifted its position in shares of Synaptics by 5.2% during the 4th quarter. Meritage Portfolio Management now owns 1,193 shares of the software maker’s stock valued at $345,000 after acquiring an additional 59 shares during the last quarter. Pictet Asset Management SA lifted its position in shares of Synaptics by 5.1% during the 4th quarter. Pictet Asset Management SA now owns 2,268 shares of the software maker’s stock valued at $657,000 after acquiring an additional 110 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Synaptics during the 4th quarter valued at $39,000. 91.93% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:SYNA opened at $114.06 on Tuesday. The company has a current ratio of 3.17, a quick ratio of 2.80 and a debt-to-equity ratio of 0.85. Synaptics Incorporated has a 1 year low of $111.89 and a 1 year high of $299.39. The business has a fifty day simple moving average of $138.71 and a 200 day simple moving average of $190.11. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 23.91 and a beta of 1.41.
Synaptics (NASDAQ:SYNA – Get Rating) last announced its quarterly earnings data on Thursday, May 5th. The software maker reported $2.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.07). Synaptics had a return on equity of 34.97% and a net margin of 12.17%. The firm had revenue of $470.10 million for the quarter, compared to analysts’ expectations of $464.65 million. During the same quarter in the prior year, the business posted $1.39 earnings per share. Synaptics’s revenue was up 44.3% on a year-over-year basis. On average, sell-side analysts forecast that Synaptics Incorporated will post 11.22 EPS for the current year.
SYNA has been the subject of a number of recent research reports. Craig Hallum cut their price objective on Synaptics from $265.00 to $220.00 in a research report on Friday, May 6th. KeyCorp cut their price objective on Synaptics from $310.00 to $250.00 and set an “overweight” rating for the company in a research report on Tuesday, April 12th. Susquehanna Bancshares cut their price objective on Synaptics from $320.00 to $240.00 in a research report on Friday, May 6th. Mizuho cut their price objective on Synaptics from $250.00 to $225.00 in a research report on Friday, May 6th. Finally, Wells Fargo & Company began coverage on Synaptics in a report on Thursday, April 7th. They issued an “equal weight” rating and a $185.00 target price for the company. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $241.25.
In other Synaptics news, insider Dean Warren Butler sold 1,126 shares of the stock in a transaction on Monday, May 9th. The shares were sold at an average price of $155.61, for a total transaction of $175,216.86. Following the transaction, the insider now directly owns 26,651 shares of the company’s stock, valued at $4,147,162.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kiva A. Allgood sold 196 shares of the stock in a transaction on Monday, May 9th. The stock was sold at an average price of $155.61, for a total transaction of $30,499.56. Following the transaction, the director now directly owns 6,654 shares in the company, valued at $1,035,428.94. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by company insiders.
Synaptics Profile (Get Rating)
Synaptics Incorporated develops and supplies semiconductor products and solutions 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 or over-the-top, streaming devices, soundbars, surveillance cameras, and smart displays; and ImagingSmart solutions.
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