Point72 Hong Kong Ltd Makes New $751,000 Investment in Synaptics Incorporated (NASDAQ:SYNA)

Point72 Hong Kong Ltd purchased a new position in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 9,836 shares of the software maker's stock, valued at approximately $751,000.

Several other hedge funds also recently made changes to their positions in the company. Louisiana State Employees Retirement System raised its position in Synaptics by 1.8% during the 4th quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the software maker's stock valued at $847,000 after purchasing an additional 200 shares during the last quarter. State of Michigan Retirement System lifted its stake in shares of Synaptics by 2.1% in the 4th quarter. State of Michigan Retirement System now owns 9,533 shares of the software maker's stock valued at $728,000 after purchasing an additional 200 shares during the period. Arizona State Retirement System boosted its holdings in shares of Synaptics by 1.8% during the 4th quarter. Arizona State Retirement System now owns 11,573 shares of the software maker's stock valued at $883,000 after buying an additional 200 shares in the last quarter. Bridge City Capital LLC boosted its stake in Synaptics by 0.9% during the fourth quarter. Bridge City Capital LLC now owns 22,511 shares of the software maker's stock worth $1,718,000 after acquiring an additional 201 shares in the last quarter. Finally, Inspire Advisors LLC grew its stake in shares of Synaptics by 2.7% in the 4th quarter. Inspire Advisors LLC now owns 8,175 shares of the software maker's stock worth $624,000 after buying an additional 212 shares during the last quarter. 99.43% of the stock is owned by hedge funds and other institutional investors.

Synaptics Price Performance

NASDAQ:SYNA traded down $1.46 during trading hours on Monday, hitting $63.79. 338,353 shares of the stock traded hands, compared to its average volume of 472,875. The company has a quick ratio of 3.36, a current ratio of 3.88 and a debt-to-equity ratio of 0.60. Synaptics Incorporated has a 1 year low of $41.80 and a 1 year high of $98.00. The stock has a 50 day moving average price of $57.42 and a 200 day moving average price of $69.52. The company has a market cap of $2.46 billion, a price-to-earnings ratio of 15.08 and a beta of 1.67.

Synaptics (NASDAQ:SYNA - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The software maker reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $0.05. Synaptics had a return on equity of 1.61% and a net margin of 16.73%. The company had revenue of $266.60 million for the quarter, compared to analysts' expectations of $265.03 million. During the same period in the previous year, the firm earned $0.53 EPS. The firm's revenue was up 12.3% compared to the same quarter last year. Sell-side analysts forecast that Synaptics Incorporated will post 0.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SYNA shares. Craig Hallum upgraded shares of Synaptics from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 29th. Needham & Company LLC began coverage on Synaptics in a research report on Friday, May 9th. They issued a "buy" rating and a $80.00 price objective on the stock. Mizuho reduced their target price on Synaptics from $90.00 to $80.00 and set an "outperform" rating for the company in a report on Monday, March 24th. Rosenblatt Securities reaffirmed a "buy" rating and set a $105.00 price target on shares of Synaptics in a report on Thursday, February 27th. Finally, Susquehanna raised their price target on Synaptics from $95.00 to $105.00 and gave the stock a "positive" rating in a research note on Wednesday, January 22nd. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $93.75.

About Synaptics

Synaptics Incorporated develops, markets, and sells semiconductor products 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, over-the-top, streaming devices, soundbars, surveillance cameras, and smart displays; and ImagingSmart solutions.