Barrow Hanley Mewhinney & Strauss LLC Invests $47.39 Million in Synaptics Incorporated $SYNA

Key Points

• Barrow Hanley Mewhinney & Strauss LLC acquired 381,499 Synaptics shares worth approximately $47.4 million, representing about 0.98% of the company. Institutional investors collectively own 99.43% of SYNA.
• Synaptics exceeded quarterly expectations, reporting $1.23 in EPS and $308 million in revenue, with revenue up 8.9% year over year.
• Analyst sentiment is mixed, with a consensus “Hold” rating and average price target of $123.91; SYNA opened at $97.66 and has recently traded below its 50-day moving average.

Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Synaptics Incorporated (NASDAQ:SYNA - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 381,499 shares of the software maker's stock, valued at approximately $47,394,000. Barrow Hanley Mewhinney & Strauss LLC owned approximately 0.98% of Synaptics at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of SYNA. State of Michigan Retirement System boosted its stake in shares of Synaptics by 1.1% during the first quarter. State of Michigan Retirement System now owns 9,333 shares of the software maker's stock valued at $654,000 after purchasing an additional 100 shares during the period. LPL Financial LLC boosted its position in Synaptics by 3.9% during the 4th quarter. LPL Financial LLC now owns 3,216 shares of the software maker's stock valued at $238,000 after buying an additional 121 shares during the period. Northwestern Mutual Investment Management Company LLC grew its holdings in Synaptics by 1.5% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 8,724 shares of the software maker's stock worth $646,000 after acquiring an additional 132 shares during the last quarter. Captrust Financial Advisors grew its holdings in Synaptics by 4.0% in the 4th quarter. Captrust Financial Advisors now owns 4,262 shares of the software maker's stock worth $315,000 after acquiring an additional 163 shares during the last quarter. Finally, Empowered Funds LLC increased its position in shares of Synaptics by 3.8% in the fourth quarter. Empowered Funds LLC now owns 4,667 shares of the software maker's stock valued at $345,000 after acquiring an additional 173 shares during the period. Hedge funds and other institutional investors own 99.43% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Mizuho upped their price target on Synaptics from $128.00 to $170.00 and gave the company an "outperform" rating in a research report on Wednesday, July 1st. TD Cowen lowered Synaptics from a "buy" rating to a "hold" rating in a research report on Friday, June 26th. Deutsche Bank Aktiengesellschaft cut Synaptics from a "buy" rating to a "hold" rating and set a $125.00 target price on the stock. in a research note on Monday, June 29th. Rosenblatt Securities decreased their target price on Synaptics from $160.00 to $115.00 and set a "neutral" rating for the company in a report on Friday, August 7th. Finally, Needham & Company LLC lowered Synaptics from a "buy" rating to a "hold" rating in a research note on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Synaptics has a consensus rating of "Hold" and an average target price of $123.91.

Synaptics Price Performance

NASDAQ SYNA opened at $97.66 on Monday. The stock has a 50-day moving average of $117.40 and a 200 day moving average of $103.50. Synaptics Incorporated has a one year low of $58.28 and a one year high of $149.11. The company has a market capitalization of $3.82 billion, a price-to-earnings ratio of -7.72 and a beta of 1.99. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.90 and a current ratio of 1.12.

Synaptics (NASDAQ:SYNA - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The software maker reported $1.23 EPS for the quarter, beating analysts' consensus estimates of $1.21 by $0.02. Synaptics had a positive return on equity of 4.37% and a negative net margin of 41.00%.The company had revenue of $308.00 million during the quarter, compared to analysts' expectations of $305.32 million. During the same quarter in the prior year, the business earned $1.01 earnings per share. Synaptics's revenue for the quarter was up 8.9% compared to the same quarter last year. On average, sell-side analysts forecast that Synaptics Incorporated will post 1.98 EPS for the current year.

Insider Buying and Selling at Synaptics

In other news, insider Esther Song sold 8,833 shares of the stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $141.17, for a total value of $1,246,954.61. Following the sale, the insider owned 12,421 shares of the company's stock, valued at approximately $1,753,472.57. This represents a 41.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vikram Gupta sold 4,277 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $103.65, for a total value of $443,311.05. Following the sale, the insider directly owned 103,468 shares of the company's stock, valued at $10,724,458.20. This represents a 3.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 21,115 shares of company stock valued at $2,569,887 in the last 90 days. Insiders own 0.50% of the company's stock.

Synaptics Company Profile

Synaptics Incorporated is a global developer and supplier of human interface solutions for computing, networking, communications, and entertainment devices. The company specializes in the design, development and integration of custom chips and software that enable intuitive, natural user interactions. Synaptics solutions support touch, display, audio and biometrics functions, facilitating seamless human-to-machine interfaces across a broad range of end markets.

Key product offerings include touch controllers for laptops and tablets, capacitive touchscreens and display drivers for mobile devices, fingerprint sensors and secure authentication modules, as well as advanced audio processing and voice enhancement technologies.

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