12,600 Shares in Synaptics Incorporated (NASDAQ:SYNA) Purchased by XTX Topco Ltd

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 stake in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 12,600 shares of the software maker's stock, valued at approximately $803,000.

A number of other hedge funds have also recently bought and sold shares of SYNA. Banque Cantonale Vaudoise acquired a new position in Synaptics during the 1st quarter worth $35,000. GSA Capital Partners LLP acquired a new stake in Synaptics in the first quarter valued at $908,000. Federated Hermes Inc. boosted its position in Synaptics by 7.7% during the first quarter. Federated Hermes Inc. now owns 21,413 shares of the software maker's stock worth $1,364,000 after purchasing an additional 1,527 shares during the period. Bryce Point Capital LLC bought a new position in Synaptics during the first quarter worth about $930,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Synaptics by 19.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,141 shares of the software maker's stock valued at $710,000 after purchasing an additional 1,841 shares in the last quarter. 99.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Synaptics Price Performance

Synaptics stock traded down $1.51 during midday trading on Wednesday, reaching $60.10. 482,476 shares of the stock were exchanged, compared to its average volume of 534,748. Synaptics Incorporated has a 52 week low of $41.80 and a 52 week high of $89.81. The firm has a market cap of $2.32 billion, a PE ratio of 14.55 and a beta of 1.61. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.34 and a current ratio of 2.88. The company's fifty day moving average is $64.82 and its 200-day moving average is $64.37.

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 analysts' expectations of $265.03 million. During the same quarter in the previous year, the company earned $0.53 earnings per share. Synaptics's quarterly revenue was up 12.3% on a year-over-year basis. On average, sell-side analysts forecast that Synaptics Incorporated will post 0.96 EPS for the current 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.