XTX Topco Ltd Makes New Investment in Synaptics Incorporated (NASDAQ:SYNA)

Key Points

• XTX Topco Ltd has acquired a new holding of 12,600 shares in Synaptics Incorporated, valued at approximately $803,000, as per their latest SEC filing.
• Shares of Synaptics have experienced a recent increase of 2.7%, trading at $62.10, with a market cap of $2.39 billion.
• Analysts have given Synaptics an average rating of "Buy" and set a target price of $93.75, with a recent coverage initiated by Needham & Company.

XTX Topco Ltd bought a new position in Synaptics Incorporated (NASDAQ:SYNA - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 12,600 shares of the software maker's stock, valued at approximately $803,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of SYNA. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Synaptics in the 1st quarter valued at $25,000. Parallel Advisors LLC raised its stake in shares of Synaptics by 151.1% in the first quarter. Parallel Advisors LLC now owns 447 shares of the software maker's stock valued at $28,000 after buying an additional 269 shares during the period. Banque Cantonale Vaudoise bought a new stake in Synaptics during the 1st quarter worth approximately $35,000. Menard Financial Group LLC purchased a new stake in shares of Synaptics during the 4th quarter valued at $37,000. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Synaptics in the fourth quarter worth approximately $43,000. Institutional investors own 99.43% of the company's stock.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC began coverage on shares of Synaptics in a research report on Friday, May 9th. They set a "buy" rating and a $80.00 price objective on the stock. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $93.75.

Synaptics Stock Down 1.3%

Shares of SYNA stock traded down $0.76 on Thursday, reaching $59.34. 402,167 shares of the stock were exchanged, compared to its average volume of 533,592. The business's 50 day moving average price is $64.85 and its 200 day moving average price is $64.34. The company has a current ratio of 2.88, a quick ratio of 2.34 and a debt-to-equity ratio of 0.60. Synaptics Incorporated has a twelve month low of $41.80 and a twelve month high of $89.81. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of 14.34 and a beta of 1.61.

Synaptics (NASDAQ:SYNA - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The software maker reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.05. Synaptics had a net margin of 15.90% and a return on equity of 3.16%. The company had revenue of $266.60 million for the quarter, compared to the consensus estimate of $265.03 million. During the same quarter in the prior year, the firm earned $0.53 earnings per share. The company's revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, sell-side analysts expect that Synaptics Incorporated will post 0.96 earnings per share 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.