Ameriprise Financial Inc. boosted its holdings in Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 1.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,979,894 shares of the software maker's stock after acquiring an additional 51,498 shares during the quarter. Ameriprise Financial Inc. owned 12.43% of Synaptics worth $380,059,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Synaptics during the fourth quarter valued at $43,481,000. Groupama Asset Managment acquired a new position in Synaptics during the 4th quarter valued at about $38,160,000. TimesSquare Capital Management LLC raised its position in shares of Synaptics by 46.0% during the 4th quarter. TimesSquare Capital Management LLC now owns 526,335 shares of the software maker's stock worth $40,170,000 after buying an additional 165,866 shares in the last quarter. Peregrine Capital Management LLC lifted its stake in shares of Synaptics by 210.0% in the 4th quarter. Peregrine Capital Management LLC now owns 204,829 shares of the software maker's stock worth $15,633,000 after acquiring an additional 138,748 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of Synaptics by 20.7% in the fourth quarter. Wellington Management Group LLP now owns 556,643 shares of the software maker's stock valued at $42,483,000 after acquiring an additional 95,432 shares in the last quarter. Institutional investors own 99.43% of the company's stock.
Insider Activity
In other Synaptics news, insider Ken Rizvi bought 3,600 shares of the stock in a transaction on Monday, February 10th. The shares were bought at an average price of $69.15 per share, with a total value of $248,940.00. Following the purchase, the insider now directly owns 27,630 shares in the company, valued at $1,910,614.50. The trade was a 14.98 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.30% of the stock is owned by company insiders.
Analysts Set New Price Targets
A number of research firms have weighed in on SYNA. Susquehanna upped their target price on Synaptics from $95.00 to $105.00 and gave the stock a "positive" rating in a research report on Wednesday, January 22nd. Needham & Company LLC restated a "buy" rating and issued a $90.00 price objective on shares of Synaptics in a report on Tuesday, February 4th. Craig Hallum raised Synaptics from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 29th. Rosenblatt Securities reissued a "buy" rating and issued a $105.00 price target on shares of Synaptics in a report on Thursday, February 27th. Finally, Mizuho reduced their price objective on shares of Synaptics from $90.00 to $80.00 and set an "outperform" rating for the company in a research report on Monday, March 24th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $95.00.
Check Out Our Latest Stock Report on Synaptics
Synaptics Trading Up 2.7 %
SYNA traded up $1.56 during trading on Thursday, reaching $59.79. The company had a trading volume of 681,377 shares, compared to its average volume of 470,654. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.36 and a current ratio of 3.88. Synaptics Incorporated has a 12-month low of $41.80 and a 12-month high of $98.00. The company has a market cap of $2.34 billion, a price-to-earnings ratio of 14.13 and a beta of 1.67. The firm's 50-day simple moving average is $57.34 and its 200 day simple moving average is $69.92.
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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