Rhumbline Advisers Boosts Stock Holdings in Synaptics Incorporated (NASDAQ:SYNA)

Rhumbline Advisers grew its stake in shares of Synaptics Incorporated (NASDAQ:SYNAGet Rating) by 9.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 103,439 shares of the software maker’s stock after buying an additional 9,285 shares during the period. Rhumbline Advisers’ holdings in Synaptics were worth $29,947,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Crestline Management LP acquired a new stake in Synaptics during the 3rd quarter worth approximately $2,721,000. Braun Stacey Associates Inc. purchased a new stake in Synaptics during the 3rd quarter worth $21,357,000. Virtue Capital Management LLC purchased a new position in Synaptics in the fourth quarter valued at about $1,273,000. State of Michigan Retirement System lifted its stake in shares of Synaptics by 12.5% during the fourth quarter. State of Michigan Retirement System now owns 9,935 shares of the software maker’s stock worth $2,876,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Syquant Capital Sas acquired a new position in shares of Synaptics during the fourth quarter worth about $72,000. 91.93% of the stock is owned by institutional investors.

Several brokerages have issued reports on SYNA. Cowen lowered their price objective on shares of Synaptics from $310.00 to $210.00 in a research report on Monday, May 2nd. TheStreet downgraded shares of Synaptics from a “b” rating to a “c+” rating in a research note on Monday, February 7th. Cowen dropped their price objective on Synaptics from $310.00 to $210.00 in a report on Monday, May 2nd. Craig Hallum cut their target price on shares of Synaptics from $265.00 to $220.00 in a research note on Friday, May 6th. Finally, KeyCorp reduced their price target on shares of Synaptics from $310.00 to $250.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 12th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $243.85.

Shares of Synaptics stock opened at $137.86 on Thursday. The company has a debt-to-equity ratio of 0.85, a current ratio of 3.17 and a quick ratio of 2.80. Synaptics Incorporated has a 1-year low of $117.00 and a 1-year high of $299.39. The business’s fifty day moving average price is $176.85 and its two-hundred day moving average price is $221.54. The company has a market capitalization of $5.46 billion, a P/E ratio of 28.90 and a beta of 1.34.

Synaptics (NASDAQ:SYNAGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The software maker reported $3.75 earnings per share for the quarter, beating analysts’ consensus estimates of $3.55 by $0.20. The business had revenue of $470.10 million for the quarter, compared to analysts’ expectations of $464.65 million. Synaptics had a net margin of 12.17% and a return on equity of 34.97%. The company’s revenue was up 44.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.39 earnings per share. On average, research analysts expect that Synaptics Incorporated will post 11.22 earnings per share for the current fiscal year.

In other news, Director Kiva A. Allgood sold 196 shares of the company’s stock in a transaction on Monday, May 9th. The stock was sold at an average price of $155.61, for a total value of $30,499.56. Following the completion of the sale, the director now owns 6,654 shares in the company, valued at $1,035,428.94. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Dean Warren Butler sold 1,126 shares of Synaptics stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $155.61, for a total value of $175,216.86. Following the transaction, the insider now directly owns 26,651 shares in the company, valued at $4,147,162.11. The disclosure for this sale can be found here. Corporate insiders own 0.80% of the company’s stock.

About Synaptics (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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Institutional Ownership by Quarter for Synaptics (NASDAQ:SYNA)

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