Point72 Hong Kong Ltd acquired a new position in Synaptics Incorporated (NASDAQ:SYNA - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 9,836 shares of the software maker's stock, valued at approximately $751,000.
Other institutional investors have also recently made changes to their positions in the company. Ameriprise Financial Inc. boosted its stake in Synaptics by 1.0% in the 4th quarter. Ameriprise Financial Inc. now owns 4,979,894 shares of the software maker's stock worth $380,059,000 after purchasing an additional 51,498 shares during the period. Vanguard Group Inc. boosted its position in shares of Synaptics by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 4,907,880 shares of the software maker's stock worth $374,569,000 after acquiring an additional 93,155 shares during the last quarter. FMR LLC boosted its position in shares of Synaptics by 0.9% during the fourth quarter. FMR LLC now owns 1,891,227 shares of the software maker's stock worth $144,338,000 after acquiring an additional 16,337 shares during the last quarter. Trigran Investments Inc. grew its stake in Synaptics by 5.9% during the fourth quarter. Trigran Investments Inc. now owns 1,072,222 shares of the software maker's stock valued at $81,832,000 after acquiring an additional 59,647 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Synaptics by 8.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,008,390 shares of the software maker's stock valued at $76,960,000 after acquiring an additional 74,433 shares during the last quarter. Hedge funds and other institutional investors own 99.43% of the company's stock.
Synaptics Trading Down 2.8%
NASDAQ:SYNA traded down $1.79 during midday trading on Wednesday, hitting $63.21. 143,341 shares of the company traded hands, compared to its average volume of 471,394. The firm has a market capitalization of $2.44 billion, a P/E ratio of 15.07 and a beta of 1.67. The firm's fifty day moving average is $57.48 and its 200-day moving average is $69.49. Synaptics Incorporated has a 12-month low of $41.80 and a 12-month high of $98.00. The company has a current ratio of 3.88, a quick ratio of 3.36 and a debt-to-equity ratio of 0.60.
Synaptics (NASDAQ:SYNA - Get Free Report) last released its earnings results on Thursday, May 8th. The software maker reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.05. The firm had revenue of $266.60 million during the quarter, compared to analyst estimates of $265.03 million. Synaptics had a net margin of 16.73% and a return on equity of 1.61%. The business's revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the business earned $0.53 EPS. On average, sell-side analysts predict that Synaptics Incorporated will post 0.96 EPS for the current year.
Analysts Set New Price Targets
Several research analysts have commented on SYNA shares. Mizuho dropped their price objective on shares of Synaptics from $90.00 to $80.00 and set an "outperform" rating for the company in a report on Monday, March 24th. Craig Hallum raised Synaptics from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 29th. Susquehanna raised their price target on Synaptics from $95.00 to $105.00 and gave the company a "positive" rating in a report on Wednesday, January 22nd. Rosenblatt Securities reaffirmed a "buy" rating and set a $105.00 price objective on shares of Synaptics in a report on Thursday, February 27th. Finally, Needham & Company LLC assumed coverage on shares of Synaptics in a report on Friday, May 9th. They issued a "buy" rating and a $80.00 target price for the company. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $93.75.
Read Our Latest Research Report on Synaptics
Synaptics Company Profile
(
Free Report)
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.
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