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 lessened its holdings in Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 25.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,300 shares of the software maker's stock after selling 6,701 shares during the quarter. Algert Global LLC's holdings in Synaptics were worth $1,230,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Synaptics in the 1st quarter valued at about $25,000. Parallel Advisors LLC boosted its stake in shares of Synaptics by 151.1% in the 1st quarter. Parallel Advisors LLC now owns 447 shares of the software maker's stock valued at $28,000 after purchasing an additional 269 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in shares of Synaptics in the 1st quarter valued at about $35,000. Menard Financial Group LLC bought a new position in shares of Synaptics in the 4th quarter valued at about $37,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Synaptics by 32.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,016 shares of the software maker's stock valued at $65,000 after purchasing an additional 249 shares during the last quarter. Institutional investors own 99.43% of the company's stock.

Synaptics Price Performance

NASDAQ SYNA opened at $71.45 on Friday. The company has a quick ratio of 2.26, a current ratio of 2.78 and a debt-to-equity ratio of 0.60. Synaptics Incorporated has a 12-month low of $41.80 and a 12-month high of $89.81. The company has a market capitalization of $2.75 billion, a PE ratio of -59.05 and a beta of 1.61. The firm's 50 day moving average is $65.93 and its 200-day moving average is $62.96.

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

Synaptics announced that its board has initiated a share buyback plan on Thursday, August 7th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the software maker to purchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SYNA shares. Needham & Company LLC started coverage on shares of Synaptics in a research report on Friday, May 9th. They issued a "buy" rating and a $80.00 price target on the stock. Barclays started coverage on shares of Synaptics in a research report on Monday. They issued an "overweight" rating and a $78.00 price target on the stock. Wall Street Zen downgraded shares of Synaptics from a "buy" rating to a "hold" rating in a research report on Friday. Finally, Zacks Research downgraded shares of Synaptics from a "hold" rating to a "strong sell" rating in a research report on Friday, August 15th. One research 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 issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $91.33.

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.

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