147,912 Shares in Synaptics Incorporated $SYNA Acquired by Deutsche Bank AG

Key Points

• Deutsche Bank acquired 147,912 Synaptics shares worth approximately $18.4 million, while institutional investors collectively owned 99.43% of the company’s stock at the end of the quarter.
• Synaptics beat quarterly expectations, reporting $1.23 in EPS versus $1.21 expected and $308 million in revenue, up 8.9% year over year.
• Analysts maintain a consensus “Hold” rating with an average price target of $123.91, while company insiders sold 21,115 shares worth about $2.57 million over the past 90 days.

Deutsche Bank AG bought a new position in Synaptics Incorporated (NASDAQ:SYNA - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 147,912 shares of the software maker's stock, valued at approximately $18,375,000. Deutsche Bank AG owned approximately 0.38% of Synaptics at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Synaptics during the second quarter worth approximately $5,021,000. Global Retirement Partners LLC purchased a new stake in shares of Synaptics in the 2nd quarter valued at $61,000. Alberta Investment Management Corp purchased a new stake in shares of Synaptics in the 2nd quarter valued at $6,212,000. Bank of New York Mellon Corp bought a new position in shares of Synaptics during the 2nd quarter valued at $35,039,000. Finally, State of Wyoming purchased a new position in Synaptics in the 2nd quarter worth $65,000. Hedge funds and other institutional investors own 99.43% of the company's stock.

Synaptics Price Performance

Shares of SYNA stock opened at $97.66 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.90 and a current ratio of 1.12. Synaptics Incorporated has a fifty-two week low of $58.28 and a fifty-two week high of $149.11. The firm has a market cap of $3.82 billion, a P/E ratio of -7.72 and a beta of 1.99. The business's 50 day moving average price is $117.40 and its 200-day moving average price is $103.37.

Synaptics (NASDAQ:SYNA - Get Free Report) last announced its earnings results on Thursday, August 6th. The software maker reported $1.23 EPS for the quarter, beating analysts' consensus estimates of $1.21 by $0.02. The company had revenue of $308.00 million during the quarter, compared to the consensus estimate of $305.32 million. Synaptics had a positive return on equity of 4.37% and a negative net margin of 41.00%.The firm's revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.01 earnings per share. On average, equities research analysts anticipate that Synaptics Incorporated will post 1.98 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on SYNA. Barclays reissued an "equal weight" rating and issued a $135.00 price target (up from $110.00) on shares of Synaptics in a research note on Friday, June 26th. Craig Hallum set a $105.00 price objective on Synaptics in a report on Friday, August 7th. Needham & Company LLC lowered Synaptics from a "buy" rating to a "hold" rating in a research note on Friday, June 26th. Northland Securities lowered Synaptics from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 26th. Finally, Zacks Research upgraded Synaptics from a "hold" rating to a "strong-buy" rating in a report on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Synaptics presently has a consensus rating of "Hold" and an average target price of $123.91.

Insiders Place Their Bets

In other Synaptics news, insider Lisa Bodensteiner sold 6,056 shares of the company's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $103.62, for a total value of $627,522.72. Following the completion of the transaction, the insider directly owned 78,634 shares in the company, valued at approximately $8,148,055.08. This represents a 7.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Esther Song sold 8,833 shares of the firm's stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $141.17, for a total transaction of $1,246,954.61. Following the completion of the sale, the insider directly owned 12,421 shares of the company's stock, valued at approximately $1,753,472.57. This represents a 41.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 21,115 shares of company stock worth $2,569,887. 0.50% of the stock is currently owned by corporate insiders.

Synaptics Profile

Synaptics Incorporated is a global developer and supplier of human interface solutions for computing, networking, communications, and entertainment devices. The company specializes in the design, development and integration of custom chips and software that enable intuitive, natural user interactions. Synaptics solutions support touch, display, audio and biometrics functions, facilitating seamless human-to-machine interfaces across a broad range of end markets.

Key product offerings include touch controllers for laptops and tablets, capacitive touchscreens and display drivers for mobile devices, fingerprint sensors and secure authentication modules, as well as advanced audio processing and voice enhancement technologies.

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