Bank of New York Mellon Corp Sells 96,689 Shares of Synaptics Incorporated (NASDAQ:SYNA)

Bank of New York Mellon Corp lowered its holdings in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 9.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 964,740 shares of the software maker's stock after selling 96,689 shares during the period. Bank of New York Mellon Corp owned about 2.46% of Synaptics worth $61,473,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Synaptics by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 4,907,880 shares of the software maker's stock valued at $374,569,000 after acquiring an additional 93,155 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Synaptics by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 471,583 shares of the software maker's stock worth $35,991,000 after buying an additional 23,702 shares during the period. Johnson Investment Counsel Inc. acquired a new stake in shares of Synaptics during the first quarter worth $216,000. Bank of Montreal Can increased its position in shares of Synaptics by 19.3% during the fourth quarter. Bank of Montreal Can now owns 5,161 shares of the software maker's stock worth $394,000 after buying an additional 834 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Synaptics during the first quarter worth $320,000. Institutional investors own 99.43% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on SYNA. Needham & Company LLC began coverage on shares of Synaptics in a research report on Friday, May 9th. They set a "buy" rating and a $80.00 price objective for the company. Mizuho decreased their price objective on shares of Synaptics from $90.00 to $80.00 and set an "outperform" rating for the company in a research report on Monday, March 24th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $93.75.

Synaptics Trading Down 1.8%

NASDAQ:SYNA opened at $68.31 on Friday. The company has a current ratio of 2.88, a quick ratio of 2.34 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of 16.54 and a beta of 1.70. The firm has a fifty day simple moving average of $63.55 and a two-hundred day simple moving average of $66.02. Synaptics Incorporated has a 12 month low of $41.80 and a 12 month high of $98.00.

Synaptics (NASDAQ:SYNA - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The software maker reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.85 by $0.05. The business had revenue of $266.60 million during the quarter, compared to analysts' expectations of $265.03 million. Synaptics had a net margin of 15.90% and a return on equity of 3.16%. The business's quarterly revenue was up 12.3% on a year-over-year basis. During the same period last year, the company posted $0.53 earnings per share. Analysts expect that Synaptics Incorporated will post 0.96 EPS for the current fiscal year.

Synaptics Company 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.

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