6,358 Shares in Synaptics Incorporated (NASDAQ:SYNA) Bought by Bridgefront Capital LLC

Bridgefront Capital LLC bought a new stake in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 6,358 shares of the software maker's stock, valued at approximately $485,000.

Several other large investors have also recently bought and sold shares of the stock. Balyasny Asset Management L.P. grew its holdings in shares of Synaptics by 67.0% during the 4th quarter. Balyasny Asset Management L.P. now owns 124,931 shares of the software maker's stock worth $9,535,000 after purchasing an additional 50,112 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Synaptics by 169.2% during the fourth quarter. BNP Paribas Financial Markets now owns 214,722 shares of the software maker's stock worth $16,388,000 after buying an additional 134,945 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Synaptics by 1.0% during the fourth quarter. Ameriprise Financial Inc. now owns 4,979,894 shares of the software maker's stock worth $380,059,000 after buying an additional 51,498 shares in the last quarter. PDT Partners LLC increased its holdings in Synaptics by 254.6% in the 4th quarter. PDT Partners LLC now owns 27,050 shares of the software maker's stock valued at $2,064,000 after buying an additional 19,421 shares during the period. Finally, Schonfeld Strategic Advisors LLC raised its stake in shares of Synaptics by 1,102.3% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 38,859 shares of the software maker's stock valued at $2,966,000 after buying an additional 35,627 shares in the last quarter. 99.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SYNA has been the topic of a number of analyst reports. Rosenblatt Securities reissued a "buy" rating and issued a $105.00 target price on shares of Synaptics in a research note on Thursday, February 27th. Needham & Company LLC initiated coverage on Synaptics in a research note on Friday. They issued a "buy" rating and a $80.00 price objective on the stock. Susquehanna raised 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. Mizuho lowered their price target on Synaptics from $90.00 to $80.00 and set an "outperform" rating on the stock in a research report on Monday, March 24th. Finally, Craig Hallum raised Synaptics from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 29th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Synaptics currently has an average rating of "Moderate Buy" and a consensus price target of $93.89.

Insider Activity at Synaptics

In related news, insider Ken Rizvi purchased 3,600 shares of Synaptics stock in a transaction dated Monday, February 10th. The shares were acquired at an average cost of $69.15 per share, for a total transaction of $248,940.00. Following the transaction, the insider now directly owns 27,630 shares of the company's stock, valued at approximately $1,910,614.50. This trade represents a 14.98 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.30% of the stock is owned by company insiders.

Synaptics Price Performance

NASDAQ:SYNA traded up $0.04 during mid-day trading on Friday, reaching $59.83. 786,551 shares of the company were exchanged, compared to its average volume of 471,125. The company has a quick ratio of 3.36, a current ratio of 3.88 and a debt-to-equity ratio of 0.60. The stock has a market cap of $2.34 billion, a PE ratio of 14.14 and a beta of 1.67. Synaptics Incorporated has a 12 month low of $41.80 and a 12 month high of $98.00. The company has a fifty day moving average of $57.30 and a 200 day moving average of $69.83.

Synaptics (NASDAQ:SYNA - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The software maker reported $0.90 EPS for the quarter, beating the consensus estimate of $0.85 by $0.05. Synaptics had a net margin of 16.73% and a return on equity of 1.61%. The business had revenue of $266.60 million for the quarter, compared to analysts' expectations of $265.03 million. During the same period in the prior year, the firm earned $0.53 earnings per share. Synaptics's revenue was up 12.3% compared to the same quarter last year. On average, research analysts anticipate that Synaptics Incorporated will post 0.96 EPS for the current fiscal year.

Synaptics Company Profile

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.