Retirement Systems of Alabama grew its holdings in shares of Synaptics, Incorporated (NASDAQ:SYNA) by 13.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 180,700 shares of the software maker’s stock after purchasing an additional 20,879 shares during the quarter. Retirement Systems of Alabama owned approximately 0.51% of Synaptics worth $8,244,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. TRUE Private Wealth Advisors acquired a new position in shares of Synaptics during the 3rd quarter valued at about $103,000. Truvestments Capital LLC acquired a new position in shares of Synaptics during the 3rd quarter valued at about $156,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Synaptics during the 2nd quarter valued at about $166,000. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Synaptics by 53.3% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,315 shares of the software maker’s stock valued at $197,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Xact Kapitalforvaltning AB acquired a new position in shares of Synaptics during the 1st quarter valued at about $226,000. 98.24% of the stock is currently owned by hedge funds and other institutional investors.
Shares of SYNA opened at $38.13 on Friday. The stock has a market capitalization of $1.33 billion, a P/E ratio of 16.83, a P/E/G ratio of 1.29 and a beta of 0.94. Synaptics, Incorporated has a 12-month low of $33.73 and a 12-month high of $55.25. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.14 and a current ratio of 2.61.
Synaptics (NASDAQ:SYNA) last issued its quarterly earnings data on Thursday, August 9th. The software maker reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.09. The firm had revenue of $388.50 million for the quarter, compared to analyst estimates of $391.75 million. Synaptics had a negative net margin of 7.61% and a positive return on equity of 11.07%. Synaptics’s revenue was down 8.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.18 EPS. Analysts expect that Synaptics, Incorporated will post 2.9 earnings per share for the current year.
SYNA has been the topic of several recent research reports. Craig Hallum reissued a “buy” rating and set a $56.00 price target (up previously from $51.00) on shares of Synaptics in a research report on Friday, August 10th. JPMorgan Chase & Co. boosted their price target on shares of Synaptics from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, August 10th. Needham & Company LLC boosted their price target on shares of Synaptics from $52.00 to $58.00 and gave the company a “buy” rating in a research report on Friday, August 10th. Zacks Investment Research raised shares of Synaptics from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research report on Wednesday, October 10th. Finally, TheStreet lowered shares of Synaptics from a “c-” rating to a “d+” rating in a report on Friday, October 19th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $52.36.
In other Synaptics news, insider Rick Bergman sold 20,000 shares of the business’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $48.35, for a total transaction of $967,000.00. Following the sale, the insider now directly owns 148,960 shares in the company, valued at $7,202,216. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.70% of the stock is currently owned by insiders.
Synaptics Incorporated develops, markets, and sells intuitive human interface solutions for electronic devices and products worldwide. The company offers its products and solutions for smartphones, tablets, and touchscreen applications, as well as mobile, handheld, wireless, and entertainment devices; notebook applications; and other personal computer (PC) product applications.
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