AQR Capital Management LLC Raises Holdings in Synaptics Incorporated $SYNA

Key Points

• AQR Capital Management LLC increased its stake in Synaptics Incorporated by 112.9%, acquiring an additional 82,162 shares, bringing its total ownership to 154,918 shares valued at approximately $9.68 million.
• Synaptics recently reported a positive earnings performance for the quarter ending August 7, with earnings per share of $1.01, and a revenue increase of 14.3% year-over-year.
• The company announced a $150 million share repurchase program, reflecting confidence in its stock value as it plans to buy back up to 6.5% of its shares.

AQR Capital Management LLC boosted its position in Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 112.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 154,918 shares of the software maker's stock after purchasing an additional 82,162 shares during the quarter. AQR Capital Management LLC owned approximately 0.40% of Synaptics worth $9,684,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of SYNA. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Synaptics during the first quarter valued at $25,000. Parallel Advisors LLC boosted its position in Synaptics by 151.1% in the first quarter. Parallel Advisors LLC now owns 447 shares of the software maker's stock worth $28,000 after purchasing an additional 269 shares during the last quarter. Quarry LP lifted its position in shares of Synaptics by 220.0% during the 1st quarter. Quarry LP now owns 528 shares of the software maker's stock valued at $34,000 after buying an additional 363 shares in the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of Synaptics during the 1st quarter valued at about $35,000. Finally, Menard Financial Group LLC purchased a new position in shares of Synaptics during the 4th quarter valued at about $37,000. 99.43% of the stock is currently owned by institutional investors.

Synaptics Trading Down 1.5%

SYNA traded down $1.07 during trading hours on Friday, reaching $70.37. 296,865 shares of the company's stock traded hands, compared to its average volume of 365,279. The company has a quick ratio of 2.26, a current ratio of 2.78 and a debt-to-equity ratio of 0.60. The firm has a 50-day moving average price of $67.34 and a 200 day moving average price of $62.71. Synaptics Incorporated has a 52-week low of $41.80 and a 52-week high of $89.81. The firm has a market capitalization of $2.72 billion, a PE ratio of -58.16 and a beta of 1.63.

Synaptics (NASDAQ:SYNA - Get Free Report) last released its earnings results on Thursday, August 7th. The software maker reported $1.01 earnings per share for the quarter, topping 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 business had revenue of $282.80 million for the quarter, compared to analyst estimates of $280.12 million. During the same quarter last year, the firm posted $0.64 earnings per share. The business'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. As a group, sell-side analysts predict that Synaptics Incorporated will post 0.96 EPS for the current fiscal year.

Synaptics announced that its board has authorized a share repurchase program on Thursday, August 7th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the software maker to buy up to 6.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

SYNA has been the topic of a number of analyst reports. Wall Street Zen cut Synaptics from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Deutsche Bank Aktiengesellschaft initiated coverage on Synaptics in a research report on Thursday. They set a "buy" rating and a $85.00 price objective on the stock. Zacks Research cut Synaptics from a "hold" rating to a "strong sell" rating in a research report on Friday, August 15th. Finally, Barclays assumed coverage on Synaptics in a research note on Monday, August 18th. They set an "overweight" rating and a $78.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Synaptics currently has an average rating of "Moderate Buy" and a consensus target price of $90.43.

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.