Ameriprise Financial Inc. Acquires 1,118,559 Shares of Synaptics Incorporated $SYNA

Key Points

• Ameriprise Financial Inc. has increased its stake in Synaptics Incorporated by 22.5%, now owning approximately $388.59 million worth of the company.
• Research firms have varied ratings for Synaptics, with Wall Street Zen upgrading the stock to "buy" while Zacks Research downgraded it to "strong sell"; the average analyst rating is "Moderate Buy."
• Synaptics has announced a $150 million share repurchase program, indicating that its board believes the stock is undervalued amid recent earnings performance.

Ameriprise Financial Inc. increased its position in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 22.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,098,453 shares of the software maker's stock after acquiring an additional 1,118,559 shares during the period. Ameriprise Financial Inc. owned approximately 15.56% of Synaptics worth $388,587,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Bragg Financial Advisors Inc increased its holdings in Synaptics by 36.2% during the 1st quarter. Bragg Financial Advisors Inc now owns 197,109 shares of the software maker's stock worth $12,560,000 after acquiring an additional 52,423 shares during the period. Stoneridge Investment Partners LLC bought a new stake in Synaptics during the 1st quarter worth approximately $217,000. EntryPoint Capital LLC bought a new stake in Synaptics during the 1st quarter worth approximately $588,000. Quantbot Technologies LP increased its holdings in Synaptics by 65.0% during the 1st quarter. Quantbot Technologies LP now owns 20,644 shares of the software maker's stock worth $1,315,000 after acquiring an additional 8,133 shares during the period. Finally, Trigran Investments Inc. increased its holdings in Synaptics by 5.5% during the 1st quarter. Trigran Investments Inc. now owns 1,130,733 shares of the software maker's stock worth $72,050,000 after acquiring an additional 58,511 shares during the period. Institutional investors own 99.43% of the company's stock.

Synaptics Trading Up 0.6%

SYNA traded up $0.40 during trading on Wednesday, hitting $70.95. 57,615 shares of the stock traded hands, compared to its average volume of 533,412. The firm has a market capitalization of $2.74 billion, a P/E ratio of -58.58 and a beta of 1.61. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.78 and a quick ratio of 2.26. The firm has a 50-day moving average of $66.22 and a 200 day moving average of $62.84. Synaptics Incorporated has a 12-month low of $41.80 and a 12-month high of $89.81.

Synaptics (NASDAQ:SYNA - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The software maker reported $1.01 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $282.80 million during the quarter, compared to analysts' expectations of $280.12 million. During the same quarter in the prior year, the company posted $0.64 EPS. The firm's revenue for the quarter 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 EPS for the current year.

Synaptics declared that its Board of Directors 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 stock through open market purchases. Stock repurchase programs are often a sign that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

SYNA has been the topic of a number of research analyst reports. Barclays initiated coverage on shares of Synaptics in a report on Monday, August 18th. They issued an "overweight" rating and a $78.00 price target on the stock. Needham & Company LLC initiated coverage on shares of Synaptics in a report on Friday, May 9th. They issued a "buy" rating and a $80.00 price target on the stock. Wall Street Zen lowered shares of Synaptics from a "buy" rating to a "hold" rating in a report on Friday, August 22nd. Finally, Zacks Research lowered shares of Synaptics from a "hold" rating to a "strong sell" rating in a report on Friday, August 15th. One equities 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $91.33.

Synaptics 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.