Alberta Investment Management Corp Acquires Shares of 50,000 Synaptics Incorporated $SYNA

Alberta Investment Management Corp acquired a new stake in Synaptics Incorporated (NASDAQ:SYNA - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 50,000 shares of the software maker's stock, valued at approximately $6,212,000. Alberta Investment Management Corp owned about 0.13% of Synaptics at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of SYNA. CoreCap Advisors LLC bought a new position in Synaptics during the second quarter valued at $25,000. CIBC Private Wealth Group LLC lifted its holdings in shares of Synaptics by 119.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 349 shares of the software maker's stock worth $26,000 after acquiring an additional 190 shares during the last quarter. Leonteq Securities AG bought a new stake in shares of Synaptics in the 4th quarter worth about $43,000. Lazard Asset Management LLC purchased a new position in shares of Synaptics during the 2nd quarter worth about $54,000. Finally, State of Wyoming purchased a new position in shares of Synaptics during the 2nd quarter worth about $65,000. Hedge funds and other institutional investors own 99.43% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on SYNA shares. Weiss Ratings downgraded shares of Synaptics from a "sell (d)" rating to a "sell (d-)" rating in a research note on Tuesday, August 11th. Wells Fargo & Company cut their target price on Synaptics from $160.00 to $140.00 and set an "overweight" rating on the stock in a research note on Friday, August 7th. Northland Securities downgraded Synaptics from a "strong-buy" rating to a "hold" rating in a report on Friday, June 26th. JPMorgan Chase & Co. raised their price target on Synaptics from $100.00 to $115.00 and gave the stock an "overweight" rating in a research note on Friday, May 8th. Finally, Needham & Company LLC cut Synaptics from a "buy" rating to a "hold" rating in a report on Friday, June 26th. Three research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $123.91.

Insider Buying and Selling

In other Synaptics news, insider Vikram Gupta sold 360 shares of the firm's stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $114.20, for a total transaction of $41,112.00. Following the transaction, the insider owned 81,226 shares of the company's stock, valued at approximately $9,276,009.20. This trade represents a 0.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Esther Song sold 8,833 shares of the business's stock in a transaction dated Thursday, May 28th. The shares were 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 owned 12,421 shares of the company's stock, valued at approximately $1,753,472.57. This represents a 41.56% decrease in their position. 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. Insiders sold a total of 11,649 shares of company stock valued at $1,603,484 over the last three months. 0.50% of the stock is owned by company insiders.

Synaptics Stock Performance

SYNA opened at $108.63 on Monday. The company has a quick ratio of 0.90, a current ratio of 1.12 and a debt-to-equity ratio of 0.43. The stock's fifty day moving average is $120.56 and its two-hundred day moving average is $102.88. The company has a market capitalization of $4.25 billion, a P/E ratio of -8.59 and a beta of 1.99. Synaptics Incorporated has a 52 week low of $58.28 and a 52 week high of $149.11.

Synaptics (NASDAQ:SYNA - Get Free Report) last issued its earnings results on Thursday, August 6th. The software maker reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.02. The business had revenue of $308.00 million during the quarter, compared to analysts' expectations of $305.32 million. Synaptics had a positive return on equity of 4.37% and a negative net margin of 41.00%.The business's revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.01 EPS. Analysts forecast that Synaptics Incorporated will post 1.86 earnings per share for the current year.

About Synaptics

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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