Bank of New York Mellon Corp trimmed its position in Synaptics Incorporated (NASDAQ:SYNA - Free Report) by 9.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 approximately 2.46% of Synaptics worth $61,473,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. acquired a new stake in shares of Synaptics in the fourth quarter valued at approximately $31,000. Parallel Advisors LLC lifted its stake in Synaptics by 151.1% during the first 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. Menard Financial Group LLC acquired a new position in Synaptics in the 4th quarter valued at approximately $37,000. Aster Capital Management DIFC Ltd acquired a new position in Synaptics in the 4th quarter valued at $43,000. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new position in Synaptics in the fourth quarter worth about $72,000. Hedge funds and other institutional investors own 99.43% of the company's stock.
Synaptics Trading Down 2.3%
Shares of SYNA traded down $1.58 on Tuesday, reaching $65.96. 174,025 shares of the company's stock were exchanged, compared to its average volume of 487,931. Synaptics Incorporated has a 12 month low of $41.80 and a 12 month high of $98.00. 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 $2.54 billion, a P/E ratio of 15.97 and a beta of 1.70. The business has a 50 day moving average price of $63.55 and a two-hundred day moving average price of $65.85.
Synaptics (NASDAQ:SYNA - Get Free Report) last posted its earnings results on Thursday, May 8th. The software maker reported $0.90 EPS for the quarter, topping the consensus estimate of $0.85 by $0.05. The business had revenue of $266.60 million for the quarter, compared to the consensus estimate of $265.03 million. Synaptics had a net margin of 15.90% and a return on equity of 3.16%. The firm's revenue was up 12.3% compared to the same quarter last year. During the same period last year, the company earned $0.53 EPS. Research analysts anticipate that Synaptics Incorporated will post 0.96 earnings per share for the current year.
Analysts Set New Price Targets
A number of brokerages have weighed in on SYNA. Mizuho cut their target price on shares of Synaptics from $90.00 to $80.00 and set an "outperform" rating on the stock in a research report on Monday, March 24th. Needham & Company LLC initiated 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. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $93.75.
View Our Latest Report on SYNA
About Synaptics
(
Free Report)
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.
Further Reading

Before you consider Synaptics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Synaptics wasn't on the list.
While Synaptics currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Explore Elon Musk’s boldest ventures yet—from AI and autonomy to space colonization—and find out how investors can ride the next wave of innovation.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.