Algert Global LLC Sells 6,701 Shares of Synaptics Incorporated $SYNA

Key Points

• Algert Global LLC reduced its stake in Synaptics Incorporated by 25.8% during Q1, selling 6,701 shares and owning 19,300 shares worth $1.23 million at the end of the period.
• Synaptics reported quarterly earnings of $1.01 per share, exceeding analysts' expectations, with a revenue increase of 14.3% year-over-year, totaling $282.80 million.
• The company announced a $150 million share buyback plan, indicating management's belief that its shares are undervalued.

Algert Global LLC reduced its stake in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 25.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 19,300 shares of the software maker's stock after selling 6,701 shares during the period. Algert Global LLC's holdings in Synaptics were worth $1,230,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SYNA. Ameriprise Financial Inc. raised its position in Synaptics by 1.0% during the fourth quarter. Ameriprise Financial Inc. now owns 4,979,894 shares of the software maker's stock valued at $380,059,000 after purchasing an additional 51,498 shares in the last quarter. Toronto Dominion Bank purchased a new position in shares of Synaptics in the 4th quarter worth about $152,895,000. Trigran Investments Inc. increased its position in shares of Synaptics by 5.5% during the 1st quarter. Trigran Investments Inc. now owns 1,130,733 shares of the software maker's stock valued at $72,050,000 after purchasing an additional 58,511 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Synaptics by 8.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,008,390 shares of the software maker's stock valued at $76,960,000 after buying an additional 74,433 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Synaptics by 11.8% during the 1st quarter. Victory Capital Management Inc. now owns 645,727 shares of the software maker's stock valued at $41,146,000 after buying an additional 67,975 shares in the last quarter. 99.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SYNA has been the topic of a number of recent research reports. Needham & Company LLC assumed 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. Wall Street Zen cut shares of Synaptics from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Zacks Research cut shares of Synaptics from a "hold" rating to a "strong sell" rating in a research report on Friday, August 15th. Finally, Barclays started coverage on shares of Synaptics in a research note on Monday, August 18th. They issued an "overweight" rating and a $78.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Synaptics presently has an average rating of "Moderate Buy" and an average price target of $91.33.

Synaptics Trading Up 0.4%

NASDAQ SYNA traded up $0.30 on Thursday, hitting $71.10. The company's stock had a trading volume of 35,167 shares, compared to its average volume of 531,279. The firm has a market cap of $2.75 billion, a P/E ratio of -58.62 and a beta of 1.61. Synaptics Incorporated has a 52-week low of $41.80 and a 52-week high of $89.81. The company's 50-day simple moving average is $66.36 and its 200 day simple moving average is $62.89. The company has a current ratio of 2.78, a quick ratio of 2.26 and a debt-to-equity ratio of 0.60.

Synaptics (NASDAQ:SYNA - Get Free Report) last announced its earnings results on Thursday, August 7th. The software maker reported $1.01 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.01. Synaptics had a positive return on equity of 4.32% and a negative net margin of 4.45%.The company had revenue of $282.80 million during the quarter, compared to the consensus estimate of $280.12 million. During the same quarter in the prior year, the company earned $0.64 earnings per share. The firm's revenue for the quarter was up 14.3% on a year-over-year basis. Synaptics has set its Q1 2026 guidance at 1.490-1.690 EPS. Research analysts predict that Synaptics Incorporated will post 0.96 EPS for the current fiscal year.

Synaptics announced that its board has approved a stock buyback program on Thursday, August 7th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the software maker to purchase up to 6.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

About Synaptics

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.