Parametric Portfolio Associates LLC raised its stake in shares of Synaptics Incorporated (NASDAQ:SYNA) by 200.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 89,025 shares of the software maker’s stock after acquiring an additional 59,379 shares during the quarter. Parametric Portfolio Associates LLC owned approximately 0.26% of Synaptics worth $4,603,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Riverhead Capital Management LLC raised its holdings in Synaptics by 95.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,730 shares of the software maker’s stock worth $141,000 after purchasing an additional 1,330 shares during the last quarter. LS Investment Advisors LLC grew its position in shares of Synaptics by 17.9% in the 2nd quarter. LS Investment Advisors LLC now owns 2,775 shares of the software maker’s stock valued at $143,000 after purchasing an additional 421 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Synaptics by 51.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,806 shares of the software maker’s stock valued at $145,000 after purchasing an additional 948 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Synaptics in the 2nd quarter valued at approximately $147,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in Synaptics during the 1st quarter worth approximately $148,000. 97.74% of the stock is owned by institutional investors.
A number of research analysts have commented on SYNA shares. Cowen and Company set a $60.00 price objective on Synaptics and gave the company a “buy” rating in a report on Wednesday, October 11th. Stifel Nicolaus reduced their price objective on Synaptics from $68.00 to $59.00 and set a “buy” rating on the stock in a research note on Wednesday. Mizuho downgraded Synaptics from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $60.00 to $42.00 in a research report on Monday, October 9th. BidaskClub cut Synaptics from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Finally, Citigroup Inc. reaffirmed an “underperform” rating and set a $35.00 target price (down previously from $45.00) on shares of Synaptics in a research report on Tuesday, August 22nd. Seven investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $48.03.
Shares of Synaptics Incorporated (NASDAQ SYNA) traded down $1.02 during trading hours on Friday, hitting $40.27. The stock had a trading volume of 1,412,800 shares, compared to its average volume of 882,676. Synaptics Incorporated has a 12-month low of $33.73 and a 12-month high of $64.54. The company has a market cap of $1,405.16, a price-to-earnings ratio of 12.63, a P/E/G ratio of 0.89 and a beta of 1.17. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.35 and a quick ratio of 2.13.
Synaptics (NASDAQ:SYNA) last posted its quarterly earnings results on Tuesday, November 7th. The software maker reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.46. Synaptics had a return on equity of 15.85% and a net margin of 1.06%. The company had revenue of $417.40 million for the quarter, compared to the consensus estimate of $398.68 million. During the same quarter in the prior year, the business posted $1.03 EPS. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. analysts forecast that Synaptics Incorporated will post 3.09 earnings per share for the current fiscal year.
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Synaptics Company Profile
Synaptics Incorporated is engaged in the development, marketing and sale of intuitive human interface solutions for electronic devices and products. The Company is a developer and supplier of custom-designed human interface product solutions that enable people to interact with a range of mobile computing, communications, entertainment and other electronic devices.
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